Today we will be reviewing an MLM company known as Beurax. Is this company legit? Find out in this Beurax review.
Crypto is all in the rage these days. The thought of easy money is indeed tempting, after all. These days, all we want is to find a way to make more money while working a full-time job.
A lot of new crypto coins pop up these days. What makes them popular is because people believe that investing in them first would give them advantage. After all, those who give in to the hype will reap the rewards, if there really are any.
Because of this, crypto scams are also on the rise. For one, this company has already pulled off a so-called exit scam, meaning that they took away all the money invested to them and fled.
For this review, I will give you completely unbiased insights regarding the company. I will also tell you some important details regarding them.
Before you decide to look into investing in crypto, you should read this Beurax review first. You should check if it is worth your time before you make such a huge decision.
DISCLAIMER: This is a fully independent review. I’m not affiliated with Beurax in any shape or form whatsoever.
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Quick Details – Beurax Review
- Name: Beurax
- Website: www.beurax.com (Now defunct, not available)
- Type: Multi-level marketing company
- Niche: Cryptocurrency
- Owner: Unknown
- Recommended?: MLMs aren’t lucrative at all, therefore I don’t recommend joining them. They simply care about your money and are uninterested in you. Unlike MLMs, which pay on a commission basis, the opportunity I have for you may provide you with a passive income.
What was Beurax?
Beurax was a cryptocurrency-focused unregulated investment firm. Yep, was. It has already collapsed during the time of writing.
Automated bitcoin trading seems to be their major source of revenue.
They claim to have a one-of-a-kind platform and operating software that enables them to gather data and analyze it in response to market conditions.
After that, if a new member invests at least $20, he or she would earn a minimum of 1.4 percent everyday. That is more than what a legitimate financial institution, such as a bank, can offer.
I’m sure you’ve heard the alarm bells go off in your head already. No respectable firm, after all, should be making promises like that.
In order to know whether a business is all legitimate investment firms must inform you that returns on investments are not guaranteed.
With that out of the way, there is something you need to know about them. Beurax was also a multi-level marketing firm.
Who ran the company?
A guy named Brandon Watts claimed to be the CEO of this company. That name is way too generic, to the point that it sounds so suspicious. Because of this, I decided to do my research regarding this guy.
I decided to look at LinkedIn to see if he still has a profile here, but I could not find anything. There are a lot of people named Brandon Watts in LinkedIn. None of them are connected to the Beurax firm, however.
Some sources said that there is a video of him introducing himself and the company in YouTube. However, it looks like it was already removed. These sources said that he has a European accent.
Other reliable sources have outed Brandon Watts as a Russian model who poses for stock photos.
Also, they say that instead of speaking like a typical CEO, he seemed to be reading a script. This is how I noticed the lies slowly unraveling. This Brandon guy was probably an actor hired to do this.
After all, a CEO, I would imagine, understands what he’s talking about and doesn’t need a script anymore. He would be an expert in regards to talking about the company he runs.
The company address is also a huge red flag. The headquarters were said to be in Canberra, Australia. This can be easily faked, if you ask me.
What was the process of joining Beurax?
When the company is still up and running, it required a $20 initial investment. You also have the option to pay using 0.001 BTC or 0.1 ETH.
Being an affiliate is free though. You would not need to pay a monthly fee to continue being a member of Beurax.
Of course, it is not longer possible to be a member of Beurax, as they have closed down.
Signing up was actually quite simple, which was why a lot of members were enticed to join the company. That just meant a lot of people got scammed, though.
How did the company die?
Beurax is a pyramid scheme, a HYIP scheme, and a Ponzi scheme all rolled into one. They were not trustworthy at all, which contributed to their downfall.
They had a phony CEO, a phony address, and phony claims. Many individuals have been scammed by them already.
There is no proof of transactions that took place place. There is also no proof that Beurax uses any outside income to pay affiliate withdrawals.
It looks like the sole provable source of income which this company got is from the people’s investments. They tried to claim that they have external revenue, but they did not have any income source other than what people give them.
Beurax is a Ponzi scam since it used new investments to give affiliates a daily return, like what they promised.
As with many MLM Ponzi scams, once affiliate recruiting stops, investment from new members stops as well. This was what deprived Beurax of their income. It then led to its ultimate demise.
Ponzi schemes are definitely certain to lose money once they run out of new members to recruit. Because of this, the vast majority of participants lose the hard-earned money that they invested.
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Beurax Compensation Plan
For this section of the Beurax review, we will be discussing the how the company’s compensation plan worked.
Members of the firm could choose to invest between the following options: USD, Bitcoin, or Ethereum. The return of investment depends on how much money you decide to put in.
- $20 to $500 — 1.4% a day for 15 days
- 0.001 to 0.5 BTC — 1.4% a day for 20 days
- 0.1 to 5 ETH — 1.4% a day for 20 days
- $500 to $1000 — 1.5% a day for 20 days
- $1000 to $2500 — 1.6% a day for 25 days
- 0.5 to 2 BTC — 1.5% a day for 30 days
- 5 to 20 ETH — 1.5% a day for 30 days
- $2500 to $5000 — 1.7% a day for 30 days
- $5000 to $10,000 — 1.8% a day for 35 days
- $1000 to $50,000 — 1.5% to 2.1% a day for 45 days
- 0.1 to 5 BTC — 1.5% to 2.1% a day for 45 days
- 3 to 120 ETH — 1.5% to 2.1% a day for 45 days
- 2 to 10 BTC — 1.6% a day for 45 days
- 20 to 50 ETH — 1.6% a day for 45 days
- $10,000 to $50,000 — 3% a day for 90 days
- $50,000 to $100,000 — 3.1% a day for 90 days
- 1 to 5 BTC — 3.1% a day for 90 days
- 25 to 125 ETH — 3.1% a day for 90 days
- $100,000 to $300,000 — 3.2% a day for 90 days
- $300,000 to $500,000 — 3.3% a day for 90 days
- 5 to 15 BTC — 3.3% a day for 90 days
- 125 to 400 ETH — 3.3% a day for 90 days
- $500,000 to $1,000,000 — 3.4% a day for 90 days
- $1,000,000 to $100,000,000 — 3.6% a day for 90 days
- 15 to 50 BTC — 3.6% a day for 90 days
- 400 to 1500 ETH — 3.6% a day for 90 days
Also, since this is an MLM, the members also made money by recruiting others into the company. When these recruited members invest in the company, they get a percentage from it. Hence, that is why recruiting was encouraged.
Here were the ranks in the company:
- Silver Consultant – This will be your default rank by signing up as a Beurax affiliate.
- Golden Consultant – You can reach this rank by generating $10,000 worth in total downline investment.
- Diamond Consultant –You can reach this rank by generating $30,000 worth in total downline investment.
- Silver Manager – You can reach this rank by generating $60,000 worth in total downline investment.
- Golden Manager – You can reach this rank by generating $120,000 worth in total downline investment.
- Diamond Manager – You can reach this rank by generating $250,000 worth in total downline investment.
- Silver Partner – You can reach this rank by generating $1,000,000 worth in total downline investment.
- Golden Partner – You can reach this rank by generating $3,000,000 worth in total downline investment.
- Diamond Partner – You can reach this rank by generating $10,000,000 worth in total downline investment.
- Silver Director – You can reach this rank by generating $30,000,000 worth in total downline investment.
- Golden Director – You can reach this rank by generating $50,000,000 worth in total downline investment.
- Diamond Director – You can reach this rank by generating $100,000,000 worth in total downline investment.
Referral Commissions
Beurax uses a unilevel compensation system to provide referral commissions on the money invested. A unilevel pay system puts an affiliate at the head of a unilevel team, with every individually recruited affiliate right under them, at level 1.
If any level 1 affiliates successfully recruit new affiliates, they will be assigned to the original affiliate’s unilevel team as level 2. If any level 2 affiliates join new affiliates, they will be promoted to level 3, and so on, down a theoretically limitless number of levels.
Beurax has a limit of fifteen paying unilevel team levels.
Leadership Bonuses
By successfully climbing the ranks, members were also eligible to receive cash bonuses. Leadership bonuses are a one-time bonus.
- Diamond Consultant — $1000
- Silver Manager — $2000
- Golden Manager — $3000
- Diamond Manager — $5000
- Silver Partner — $20,000
- Golden Partner — $50,000
- Diamond Partner — $250,000
- Silver Director — $500,000
- Golden Director — $1,000,000
- Diamond Director — $3,000,000
10 Shocking MLM Statistics that You Need to Know!
- Almost 99% participants of all multi-level marketing companies lose money, according to the FTC.
- There are 38% more chances of you profiting from your own any kind of small business than joining these MLMs.
- Success rate of an online business, which will give you financial and time freedom, is 20% more than joining MLMs for making money.
- The odds of you winning a lottery worth $10k among 10,000 people is 300 times higher than actually making money from MLMs.
- According to the AARP foundation, 47% distributors of all MLMs lose their money. Apart from this, 27% do not make a single penny.
- In the remaining 26% that actually make money, 53% of them make less than $5000/year.
- 39% of those 53%, who are making $5000/year quit because recruiting and selling crappy products to friends and family members jeopardized their relationships.
- Forget about building a long term business with MLMs, because 50% of all MLMs participants quit within one year.
- 75% people that joined MLMs say that they will never again join any kind of MLM.
- A poll was conducted in 2018 among 1050 MLM distributors and it was concluded that most of them made 70 cents an hour and 20% of them did not make a sale. 60% of them made less than $500 in sales over the past 5 years and 32% of them acquired credit card debt to finance their MLM involvements.
SOURCES:
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Alternatives to Beurax
In this part of the Beurax review, we will be talking about possible alternatives to MLMs.
MLMs will always fail, regardless of what the products and services they provide. This is why I would never recommend joining one.
So, do you believe you have the capacity and abilities to undertake a side business to augment your income? After all, a side hustle is supposed to be something you perform in addition to your regular job.
As a consequence, it should be something you like doing and does not need a thorough study of a wide variety of topics you are not familiar with. However, if you want to make a lot of money, you’ll need a better strategy.
After a few lessons, you may be able to pick up a few abilities and perhaps work as a digital marketer. If you have an existing background in finance, you may want to try your hand at stockbroking.
There are several options available to you, if you know where to look. All you have to do now is choose a niche in which you feel you can succeed at.
However, in my view, the ideal side hustle should be simple to set up, and could provide a stable and consistent source of income.
Final Verdict – Beurax Review
Before I end this Beurax review, I would like to share a few more insights that could help you.
After you’ve done the review, I’m certain you’ve learned all you need to know. First and foremost, I recognize that I have previously expressed my negative views on multi-level marketing.
Don’t be fooled by any of them; everything they say or do is merely a ploy to attract you into investing.
Commissions are generally determined by the quantity of new members acquired, similar to ponzi schemes. That is, by the way, illegal.
People are continually being duped by MLM promises, which is why the firm is still in business. These companies are experts at duping people into thinking they would be handed a good opportunity that would be life-changing.
I’ve got a fantastic deal for you that isn’t a rip-off and will really help you out. It’s worked for tens of thousands of people before, and it could just work for you as well.
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