Today we will be reviewing an MLM company known as Bit Plam. Is this company legit? Find out in this Bit Plam review.
The internet is quite a fascinating place. Back in its inception, it is merely a place to find information and a means to communicate with people from far away.
Nowadays, it has also become a place where people can make money. There are a lot of companies which found success with the virtual space, like social media and eCommerce sites.
It has opened up a lot of opportunities with which people can make passive income, even if they are working full-time careers. Because people are still encouraged to stay home these days, it is no surprise to me that a lot of people start side hustles they can do from home.
These chances have also become popularized by internet gurus and influencers through the use of vlogs and social media platforms. Actually, that is how I found out how blogging can be my full-time career too.
In this review, we will be looking at Bit Plam, a company which promises that you can make passive income by investing in them.
Before you decide to look into joining this company, you should read this Bit Plam 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 Bit Plam in any shape or form whatsoever.
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Bit Plam Review: Quick Details
- Name: Bit Plam
- Website: https://bitplam.com/
- Socials: Facebook, Instagram, Twitter
- Type: Investment company with MLM business tactics
- Niche: Cryptocurrency
- Owner: Unknown
- Recommended?: This platform is entirely untrustworthy. Their claims of offering very high return on investment (ROI) are completely untrue. Putting your faith in this company is clearly not a good idea. In fact, I have a better alternative to this one which is guaranteed legitimate and can make you passive income.
What is Bit Plam?
Bit Plam is a firm that allows users to earn additional money from the comfort of their own homes. Pretty sure I have already mentioned that in the intro.
This is done through crypto trading that is done-for-you, short-term investments and derivatives, as well as forex and currency options.
In general, I would consider the firm to be a passive money-making possibility in the cryptocurrency sector when looking at them as a whole.
When researching into the specifics of the firm, I discovered that there was no information on the company’s website concerning the management team or who was in charge of the organization. This, of course, is a big red flag.
I checked online for any further information that could be available, but there found nothing. Nada. Basically, whoever the CEO is doesn’t want to reveal themselves.
On August 30, 2021, the domain name “bitplam.com” was registered. Because the domain name was privately registered, no information regarding who owned it was made public. It’s as if it’s a ghost who registered the domain.
Some claims they made…
As an investing firm, Bit Plam asserts that they are reputable. Their website claims to be able to provide daily returns on your money.
You can earn some quick money, they claim, whether you are trading forex, stocks, or cryptocurrencies on their platform on a consistent basis.
This seems a little suspicious, to be honest. I believe you are well aware of how much the stock market can fluctuate in a single day.
It’s impossible to predict whether you’ll make money or lose money when it comes to stocks and cryptocurrency.
Do you recall the occasion in which the stock price of GameStop increased unexpectedly? What happened after that was completely unexpected!
Because some investors on Reddit wanted to make a meme, such incident happened. Lots of spoiled hedge fund babies cried as they watched how they lost millions that day.
Another recent event like this is the Squid coin incident. That one is actually still fresh in my mind.
As a result of the enormous popularity of Squid Game, the coin was named after the hit television program, which was named after the coin.
Although the value increased quickly, the founders pulled a fast one on the market. That, too, cannot be characterized as a predictable incident.
How Does the Company Operate?
As stated on the company’s website, the services that Bit Plam provides to its users include cryptocurrency trading as well as arbitrage and options trading with equities as well as fiat money.
What I can see is that the services are all being provided in the background for you. All a member needs to do is invest in one of the investment packages and the firm will begin giving you a daily return on your money immediately. At least, that is what they claim.
The first step is to locate someone who is actively marketing Bit Plam as an affiliate member and to sign up using their referral link.
Next, you must create an account with Bit Plam and confirm your identity. You get to choose an investment choice as the next stage in this procedure.
You can pay via USD or crypto. For those who intend to pay using cryptocurrencies, there will be around 13 alternatives to pick from, including Bitcoin, ETH, and other digital currencies.
Then, in accordance with the investment package you select, you will send the funds to Bit Plam. Simply sit back and wait for the transaction to complete, after which you may begin collecting daily returns on your investment.
After making a profit, you will be able to withdraw it using the same ways that you used to make your payment.
Moreover, if you want to recommend others to the Bit Plam opportunity, you will receive a one-of-a-kind referral affiliate link that will be displayed in your back office.
You will receive a percentage of their investment amount for each person you suggest, up to two more tiers of downline members. You may use this money to reinvest or withdraw it.
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How Do You Make Money in Bit Plam?
BitPlam encourages affiliates to invest in the firm on the promise of receiving a guaranteed return, as well as to recruit others who will do the same.
If that sounds familiar to you, then yes, that is how exactly an MLM company operates.
To become a member of the LITE Commitment Packages, you must make a financial investment ranging from $25 to $4,999.
In conclusion, this package will provide a daily return of 4% for a period of 30 days, yielding a profit of 120% in total.
To participate in the PLUS Commitment Packages, you must make a financial investment ranging from $5,000 to $200,000.
This package will provide a daily 5% return on investment for a total of 40 days, resulting in a total profit of 200%.
Withdrawal of Profits
After 24 hours from the moment your profit is posted, Bit Plam allows you to request a withdrawal of your profit from your investment package earnings.
Also related with each withdrawal are costs, which diminish the longer you elect to hold your profit in Bit Plam. Here’s how it works:
- Withdrawal within 24 hours — If you withdraw your money within 24 hours after making your deposit, you will be charged a 25% fee.
- Withdrawal after 14 days — If you take your money before the 14-day period has expired, you will be charged a 15% fee.
- End of Investment Plan Withdrawal – There will be no cost if you opt to wait until the final day before your investment plan is terminated.
In addition to their affiliate commission plan, Bit Plam provides you with an opportunity to earn money.
Whenever you opt to start referring individuals to Bit Plam by using your affiliate referral link, which can be found in your back office, you will receive a portion of their investment as compensation.
These commissions will be sent immediately into your profit account balance. From the affiliate referral commissions that Bit Plam offers, you may earn income at three different levels of the downline.
Listed below is a breakdown of the proportion of the investment made by each of your downline members:
- In the first level, you will receive a 5 percent commission on the investments of all of the members you directly introduce to the company.
- For everyone of your downline members who are also on the second level, you will get a 2 percent commission on their investments.
- For every one of your downline members who is on your third level, you will receive a percentage of their investment proceeds.
Is Bit Plam a Scam?
If I’m being really honest, the firm is still too young to say whether Bit Plam is a legitimate opportunity.
I am concerned about the lack of openness and the absence of created profit proof, and I have my questions about whether or not they truly do have competent traders and investors as members of the team.
Nowhere on the company’s website do I see them referred to or referenced. If they are working with an external firm, they should make it clear to their investors so that they may be assured.
They simply want you to put your trust in them, invest your money, and then move on from the situation. If you ask me, that’s not a really effective approach to manage a firm that is built on trust.
In addition, they have no evidence to support their ludicrous assertions. In the first place, how is it conceivable to achieve that percentage of return on investment here?
he finest deals authorized organizations such as banks and insurance companies can offer are inferior to what you may get from these websites, at least from their claims.
Such a high rate of return is not possible in this situation. The reason for this is that it is impossible. It cannot happen, and there is no chance that it would, even if you invest thousands of dollars in here.
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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.
Final Verdict – Bit Plam Review
Before I end this Bit Plam review, I would like to share a few more insights that could help you.
Despite the fact that scams of this sort will continue to exist till the end of time, the truth is that as the world transitions to decentralized currency, individuals will take advantage of the assumed anonymity to cause much more harm.
You should exercise extreme caution when dealing with platforms that offer such high rates of return, since if the rates are too high to be rational, the platform is almost certainly a hoax.
This so-called “opportunity” is something that you shouldn’t waste your time, money, and effort on. They could pull the rug on it anytime, and it wouldn’t surprise me if they do so anytime soon.
After all, it is pretty hard to keep a scam going, especially if there isn’t that much interest in it. They would probably just run away with all the money and not look back.
What might be my source for this assumption, you say?
Well, I have seen that happen a lot of times already. MLMs just fold without telling their members the situation. Since they know that the jig is up, they wouldn’t waste any time with apologies.
These are all just assumptions, but judging from what we know about them so far, it couldn’t be far from the truth.
Stay away from this company as far as possible. Keep an eye out for other opportunities, and made sure they are legitimate ones.
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