Have you landed here because you were searching for the Bitearn reviews in order to find out either is Bitearn Ponzi or not, either is Bitearn Pyramid Scheme or not, either is there any Bitearn complaints or not, either is Bitearn.org a scam or a legit and so on, overall to find out what is Bit Earn? If so, then you have landed in the right place because here, within our Bitearn review, we are going to provide the complete truth about Bit Earn. Actually, the compensation plan of Bitearn is inclined more towards Ponzi and Pyramid Schemes which both are not a legal schemes in many countries and even not a sustainable ones. So, we don't recommend anyone to work with Bitearn. You can find more details on Bitearn as below within our detailed Bit Earn review, but before that if you want to find out what kinds of companies do we recommend, then you can find those by clicking this link:- newsonlineincome.org/legitimate-work-home-businesses/
If you take a look at those recommended online work companies, then you will find out that we only recommend those online work companies which don't have any legal issue, which business model is completely sustainable and which are established from very long time. Among all of those recommended online work companies, our No.1 recommendation is Wealthy Affiliate about which you can find details by clicking this link:- newsonlineincome.org/wealthy-affiliate-review/
OK let's begin with our Bitearn.org review as below in order to find out what is Bitearn in real.
Bitearn login and join in link:- https://bitearn.org/ (Not recommended to join)
Bitearn.org is a revenue sharing platform which claims to pay its members guaranteed 4% daily return on the purchase of its shares until members earn back 130% return in total and after that also company will keep on sharing revenue according to the company growth and profit. Bitearn also claims to pay commission upto 10 level downlines which makes it both Ponzi and Pyramid Schemes because they haven't provided any verifiable source of income from where they can pay those revenues and commissions. The only verifiable source of income seems to be the advertisements in their website which members need to view daily in order to earn the profits. But, some of their plan like "Professional Plan" even doesn't require to surf ads daily and those members can earn 130% without doing anything, completely passive income. Other verifiable source of income can be games and lottery. But, in order to cover that much of ROI and downline commissions, they must make very high amount of profit from those games, advertisements and lottery which seems not possible in the case of Bitearn. More than that, their Professional Plan completely provides passive income for which member doesn't require to do anything to earn back returns, so that is just like a membership package which generate returns. So, any MLM (Multi Level Marketing) company which pays commission upto 10 level downline without any products, just by selling passive income membership which generates ROI is completely a Pyramid Scheme which is not legal in many countries.
Before explaining it further, we want to make it clear that none of the legit companies can quote the exact time frame for the amount of return that they can pay to their members because in the reality, none of the companies can generate similar profit daily and definitely it will be more hard to generate 4% profit daily for majority of companies. On top of that, if some company can generate 4% daily in real, then why even they need to open a website to collect money from several people when they can just take a loan from any local bank in much more less price than what they owe to pay their members. So, why aren't they taking loan from bank? It is simply because in order to take loan from a bank they need to show the verifiable source of income which simply they can't.
As per the WHOIS detail, the domain "https://bitearn.org/" was registered in March, 2017. But, in their website, they have written that they was officially launched on April 2017. But, we are writing this review on 20 March 2017, so they was launched in the future. Legit companies never do such blunders. Only the owners who are not too much serious on their business will do such kinds of blunders. You can see that part of their website in the screenshot as below or you can find it within their "How it Works" page.
However, within their home page, they have written that Bitearn was launched in 8 March 2017 which screenshot you can see as below. So, this kind of blunder makes very confusing impression to their members. We never have seen such blunders within any legit sites.
As in the screenshot above, you can also see that they have claimed they are the only RevShare website having legit certificate. OK, then let's look at their certificate which is registered under name ZingTech Online Private Limited. As per their WHOIS detail also, they have registered their website under company name ZingTech Online Private Limited. So, we did further research on that certificate and find out that is private limited company which has only 1,00,000 Indian Rupees as a paid up capital, which means only around 1500 USD which is very low capital for the company which wants to run globally by selling shares to unlimited people by promising 4% daily return forever. We have also found out that this company is from Jammu, India and was registered on November 3, 2016 with Corporate Identification Number (CIN) U72900JK2016PTC009792 and with Registration Number is 009792 and with detail address as 'Near Rajput School Jogi Gate Jammu Jammu JK 180001 IN'. The name of two directors associates with this company are Abdul Rasheed Sheikh and Murtaza Rashied Sheikh. But, we didn't find any information that this company can run the revenue sharing sites and can sell the shares to its members by promising 4% daily return forever. Instead, their industry is registered as computer related services (Source: www.tofler.in and indiancompany.info). But in reality, selling shares and promising daily return of ROI is not related with computer related services. More than that, even if they can register legally to sell shares, still that is not enough to make their business sustainable. How can company pay to its members 4% daily profit just by having registered documents? In order to pay that much amount to their members, they must have enough source of income which can justify the rate of return and commissions that they are claiming to pay their members. Anyway, we didn't find any verifiable source of income other than the lottery, games and advertisements which seems not enough to cover those promises rate of returns and referral commissions. So, in that case may be this company will keep on paying existing members form the money generated by the new members which makes it Ponzi Scheme which is not legal in many countries and not sustainable as well. So, even if they try to manage to keep on paying, in long run, the business will not be sustainable and also will have risk for having legal issues.
They also have also another site under ZingTech Online Private Limited ownership which is a PTC site known as Ababeeel which is also not a sustainable PTC site because most of their ads in that PTC site is their own self sponsored ads which they are showing at the rate of $0.01 per click. Most of the PTC sites which shows more self-sponsored ads than the real advertiser's ads in that rate has been already collapsed in the past, but it seems either the owner of Ababeeel is unaware of that fact or they simply don't care at all. Either way, this add another red flag to the Bitearn.
Aforementioned, it is clear that we don't recommend anyone to work with Bitearn, but also if you want to find out the details to earn money from it, then you can find the details as below.
In order to earn money from Bitearn, you have to pay money into their site to purchase their 3 different kinds of shares/plans for which they promise daily return and those are as follows.
Beginner Plan:- According to this plan, members will receive guaranteed 3% daily until they earn back total 130% of their purchase amount and after that also it will never expire and they can earn certain percentage of return according to the profit make by the company. In order to receive daily profit from this plan, members must view 10 ads. So, at least this plan is not so bad because here members must help the company to generate profit by viewing ads within their website. But also, they have quoted guaranteed 3% daily return which is not only difficult rate of return to cover for sites like Bitearn, it is also not legal because if they can't make real 3% profit, then also they have to pay their members their owe money which will make their system unsustainable because in that case they can pay existing members only by using the money of new members which makes it Ponzi Scheme.
2. Premium Plan:- According to this plan, members will receive guaranteed 3.5% daily until they earn back total 130% of their purchase amount and after that also it will never expire and they can earn certain percentage of return according to the profit make by the company. In order to receive daily profit from this plan, members must view 5 ads. Now, here the amount of ads that members have to view to help company to generate profit is more less which is not a good thing because according to this plan, members can purchase upto 100 shares, but in Beginner plan, members can purchase only 30 shares. So, the plans which can help the company to make more profit can be bought more less than the other less helpful plans.
3. Professional Plan:- According to this plan members will receive guaranteed 4% daily until they earn back total 130% of their purchase amount and after that also it will never expire and they can earn certain percentage of return according to the profit make by the company. In order to receive daily profit from this plan, members don't need to view any ads, means they can earn passive income. So, this plan will not help company in any means to generate profit. But, the amount of shares that members can buy in this plan are much more than any other plan which is upto 1000 shares and even company is promoting it in a big manner because within their home page they have quoted that members can earn 4% daily which implies this plan. So, this makes it clear that company doesn't care for making profit at all and they just want to take the money from many people as soon as they can. This also proves that their plan is only to pay existing members from the money generated by the new members as same as in a Ponzi Scheme which will definitely not sustain for long run and can be collapse anytime soon in the future. Following this business model, even if they want to keep on paying their members, they can't sustain for long run because system will create debt in itself.
The another way to earn money from Bitearn is by referring new people as your referrals within this company for which you will earn commissions when they purchase any plans as above or purchases any other services of Bitearn. You will also earn commission from the referrals of your referrals and so on upto 10 levels. So, this add more burden to the financial structure of Bitearn. More than that, according to their most of the plans, members don't require to do any tasks or work and just can earn passive income which makes their those plans worthless because if members don't require to view advertisements of other members in order to earn money, then where they will show those ads and how the members who purchase those advertisement packages can get benefit from that. So, that makes their products only a membership fee than the real product and paying the commissions on the purchase those membership from the 10 levels of referrals make their system another illegal scheme known as Pyramid Scheme. So, from our side, we don't recommend anyone to work with Bitearn.
Aforementioned, there are lots of warning bells that we have mentioned about Bitearn. More than that, they are providing false information by saying that their company is registered as a revenue sharing company when the reality is that their company is only registered as computer related services and their business model and compensation plan involves both Pyramid and Ponzi Scheme. So, we don't recommend anyone to work with Bitearn because these kinds of companies only pay at starting, but later on either stop paying or completely shutdown their site. Actually, we only recommend those kinds of companies whose business model is sustainable and legal, which are established from very long time, where there is not any risk to lose the investment and so on. If you want to find out the list of our recommended online work companies in order to check those by yourself, then you can find the list of those companies within our website by clicking this link:- newsonlineincome.org/legitimate-work-home-businesses/
Like we have said before, when we recommend companies, we consider many factors. So, considering owner background, business legality, business sustainability, amount of the successful members, numbers of years that company has run, the easiness of work in the company according to the time and effort and the rate of return that members can earn according to the time and effort, we have rated Wealthy Affiliate as a No.1 Online Work Company. If you want to find out more details on Wealthy Affiliate, you can click this link:- newsonlineincome.org/wealthy-affiliate-review/
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