Bitnamix Review – Bitcoin Matrix Cycler
Bitnamix Review – Is Bitnamix a scam? Is Bitnamix legit? What is Bitnamix?
You may have seen people promoting this new Bitcoin matrix cycler on Facebook and Youtube?
Read the full Bitnamix review and learn the details of Bitnamix including the owners, the company, and the compensation plan in this Bitnamix review.
What is Bitnamix?
Bitnamix is yet another crypto matrix cycler that uses bitcoin as payment method. It’s a crypto MLM “Crowdfunding” pyramid scheme that launched in August 2020.
Bitnamix does not use a smart contract, but instead they use a web based MLM matrix script, to automate the position cycling in the matrices, to pay members bitcoin wallets when they recruit others into the scheme.
Crypto matrix cycler pyramid schemes, are very popular now, and its seems there is a new one launching almost every day. Most of them have so many issues at launch, and some of them just completely scam out and steal your crypto.
Matrix cycler’s never last long, once recruitment and hype slows down, people stop cycling and stop getting paid.
Most people can not recruit, so they rely heavily on spillover and never make a positive ROI.
The owners, and their close friends at the top get paid the most, meanwhile, the people at the bottom get paid the least.
Bitnamix use Bitcoin (BTC) cryptocurrency or as the only method of peer to peer payments, so no recourse or refunds once you send your crypto away to join this scam.
Bitnamix self describes as the first fully decentralized Bitcoin unilevel and matrix opportunity of its kind in the world.
The domain Bitnamix.com was privately registered at Namecheap on July 8, 2020 for one year and expires on July 8, 2021.
Who are the owners of Bitnamix?
There is no mention of the owners on their website, and their FAQ section states: Bitnamix belongs to a group of crypto enthusiasts, who are members of the community and don’t have any special privileges. Bitnamix is a peer-to-peer community of platform members.
However, checking their social media, I was able to link Alfredo Delgado and Diosnedy Pelegrin as the faces of Bitnamix in their videos inside their facebook group.
How Does Bitnamix Work?
When you join Bitnamix, you will be required to pay a monthly fee of $25 in bitcoin before you can get full access. This is a mandatory payment every month to remain active and receive commissions.
After your monthly payment is made, you must buy your first spot in a 2×2 matrix which is 0.0006 BTC (around $7 usd). There are 13 2×2 matrices total to buy into from 0.006 BTC up to 2.6 BTC ($30,000 usd aprox.).
Then you must recruit others to complete cycles and get paid commissions in bitcoin.
You must purchase the position before you can get paid on it, or you will pass up commissions to the next person above you at that level.
Bitnamix has no products.
It is a straight up cash gifting pyramid scheme that uses Bitcoin as payment method.
It is NOT legit crowdfunding.
You pay bitcoin to gain the ability to recruit others and get paid, so in turn they can do the same.
Bitnamix Compensation Plan
Bitnamix has a 2×2 matrix and unilevel compensation plan.
Bitnamix 2×2 matrix structure pays up to 100% commission and the unilevel structure pays up to 95% commission 6 levels deep.
Bitnamix 2×2 Matrix: 1st and 2nd position are passed up to your sponsor. 3rd, 4th, and 5th position pay you 100% commission. 6th position pays your sponsor and completes the cycle.
Bitnamix Unilevel: Unilevel structure pays up to 95% commissions 6 levels deep.
- 1st level – 3%
- 2nd level – 5%
- 3rd level – 7%
- 4th level – 13%
- 5th level – 25%
- 6th level – 42%
Notice how it pays much heavier in higher levels starting from the 4th level, and the 6th level pays the highest amount at 42%???
This is because most structures in MLM don’t grow past the 3rd level, so the company will not have to pay the higher commissions out.
This is not a good pay structure.
Is Bitnamix a scam? It’s basically a cash gifting pyramid scheme with no product that uses bitcoin for payments.
Bitnamix uses a cycler compensation plan along side a poor unilevel pay structure. Cyclers are the worst MLM compensation model as they always fade out and eventually fail.
Typical crypto commission junkies’ such as Frank Colabro Jr are roping in their gullible following and fleecing downline for thousands of dollars.
Matrix cyclers are not passive and are completely reliant on active recruiting as the only source of ROI.
Cryptocurrency based matrix cyclers are just as popular as Coronavirus in 2020, and there’s a new crypto cycler launching every week nowadays.
Bitnamix is marketed as a crowdfunding cryptocurrency platform with residual income, but it’s just another matrix cycler like all the rest… YAWN..
Bitnamix has a monthly charge, which is strange for a cycler. Retention will be an issue, as many will not make money and drop out. Matrices will stall out, not cycle, and people will not get paid for long.
Bitnamix is a bad MLM.