On its website, Bity.Pro omits to list ownership or executive details.
The domain name “bity. pro” is for the website of Bity. Pro was purchased in May 2022. On June 19, 2023, the private registration was last updated.
Bity.Pro offers “Buty Limited” incorporation information to appear legitimate.
The UK’s Bity Limited was established on March 14th, 2023.
We look at 34 different data points when analyzing and rating online money-earning opportunities. Once the research on these data points is submitted, expert contributors reach out to the company’s customers and associates to get more insight into their operation. Finally, all the collected information is presented in the form of this expert review.
All the data is extracted from publicly available information and the sources are given in the transparency section at the bottom of every report.
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An MLM company that is based in the UK or that makes that claim should raise red flags.
The UK offers incredibly cheap and essentially unrestricted incorporation. Additionally, the FCA, the UK’s leading financial regulator, does not actively combat securities fraud associated with MLM.
As a result, scammers seeking to establish, run, and publicize fictitious businesses frequently choose the UK as their preferred country.
For MLM due diligence, incorporation in the UK or registration with the FCA is meaningless.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
Products from Bity.Pro
Bity.Pro doesn’t offer any goods or services for sale.
Affiliates are limited to promoting Bity.Pro affiliate status in and of itself.
Plan of Compensation for Bity.Pro
Affiliates of Bity.Pro makes Bitcoin investments in the amount of USD.
This is done on the promise of hourly profits that are advertised:
- invest $25 – $100,000 and receive 1% an hour for 120 hours
- invest $500 to $100,000 and receive 2% an hour for 60 hours
Bity.Pro pays referral commissions on invested cryptocurrency down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 5%
- level 2 – 2%
- level 3 – 1%
Joining Bity.Pro
Bity.Pro affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $25 investment.
Bity.Pro solicits investment in various cryptocurrencies.
What is a Ponzi Scheme?
A Ponzi scheme is a dishonest investment plan that assures investors of great rates of return with minimal risk. Ponzi schemes are fraudulent investment schemes where funds are raised from later participants to benefit the earlier investors. This is similar to a pyramid scheme in that both rely on funds from new investors to recoup payments made to earlier investors.
When the flow of new investors ceases and there isn’t enough money to go around, Ponzi and pyramid scams both fall apart. At that point, the schemes start to fall apart. The Ponzi scheme generates profits for current investors by enticing new investors with promises of a huge payout with little to no risk. The fraudulent investment strategy is based on using funds from new investors to pay off previous donors. Companies that run a Ponzi scheme concentrate their efforts on enticing new clients to make investments; otherwise, their system will become illiquid.
Some of the Red Flags for a Ponzi Scheme
Regardless of the technology utilized, the majority of Ponzi schemes have similar characteristics. The Securities and Exchange Commission (SEC) has recognized the following characteristics to be on the lookout for:
- A promise of high rewards with no risk.
- A steady stream of returns regardless of market conditions
- Unregistered investments with the Securities and Exchange Commission (SEC)
- Clients are not permitted to access official papers for their investment strategies that are kept secret or described as too hard to comprehend.
- Clients who are having difficulty withdrawing their funds
Bity.Pro Conclusion
Bity.Pro is a simple Ponzi scheme hidden behind web3 crypto waffle.
Web3, powered by cryptocurrencies, will revolutionize the internet’s future by fostering fairness and equality and transferring ownership to its developers, artists, and users.
We sincerely think that you have a right to control your money, personal information, and identity.
We have a pioneering mentality, taking prudent risks and exploring novel undertakings.
We are not hesitant to make tough choices that are in line with our long-term objectives because we understand that when something is pursued tenaciously, the seemingly impossible becomes possible.
All of that foolishness is irrelevant to Bity. Pro’s business strategy.
As with all MLM Ponzi scams, fresh investment will cease as soon as affiliate recruiting does.
It will starve Bity.In favor of ROI revenue, which finally causes a collapse.
The mathematics underlying Ponzi schemes ensures that when they fail, the majority of investors lose money.