Is AirBit Club A Scam?

Is AirBit Club A Scam?

On this blog post I’m asking the question Is AirBit Club A Scam?

This is a very important question to consider if you’re thinking of joining a program like this.

What is the company background?

Who are the owners of AirBit Club?

What is the compensation plan?

What services or products do they offer?

Let’s find out, shall we?

AirBit Club – What Is It?

Is AirBit Club A Scam?

Please understand that I am not associated with AirBit Club in any way and I am not an affiliate for them.

As we answer the question Is AirBit Club A Scam, understand that a large number of these cryptocurrency “companies” were absolute SCAMS, or pyramid schemes.

I wanted to find out if AirBit Club was diffrent.

The URL of the official sales page is airbitclub.com

The foundation of AirBit Club is in cryptocurrency and mining and this is what they use to pay out commissions and keep the business financially solvent.

AirBit Club also has a MLM component in place which is used to pay out commissions as well.

Airbit Club is a trading platform using cryptocurrency to make a profit.

What the owners are trying to sell you is the opportunity of making profits with cryptos. 

The way the investment scheme is set up, you are recruiting people on two different levels in order to generating a larger ROI. (Return On Investment)

It has been alleged that two gentlemen, Renato Rodriquez and Gutemberg dot Santos, founded AirBit Club back in 2015.

However, this cannot be accurately verified.

The reason ownership cannot be verified is AirBit Club deliberately fails to provide any ownership information. 

They purposely failed to reveal any discernable corporate entity that government agencies could hold accountable.

Also, and they were not forthcomming about the specific ways their business operated so that reguators couldn’t pinpoint  operational misconduct.

Moreover, a WHOIS search will show that airbitclub.com was privately registered domain.

Regestering a domain in this way as                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             private makes it virtually impossible for anyone to track down the real owners.

Watch Out – The Red Flags Start Rising

Is AirBit Club A Scam?

When you first look at AirBit Club, it appears to be set up like a Multi-Level Marketing orgization.

The compensation plan has all the familiar aspects of the way MLM’sare set up to pay their producers.

Before starting AirBit Club, the founders Renato Rodriquez and Gutemberg dot Santos were involved in similar multi-level business arrangements. 

These guys are no strangers to the world of multi-level-marketing schemes.

Rodriquez and Gutemberg have been involved with ViziNova and WCM777.

 Both of those companies have been labeled by the regulators as Ponzi Schemes.

The Securities and Exchange Commission on March 2nd 2017 filed a lawsuit against Vizinova and owners Renato Rodriguez (full name: Pablo Renato Rodriguez Arevalo) and Gutemberg Dos Santos.

Vizinova, which launched in March, 2014, was an updated version of WCM777 , a Ponzi scheme which was the brainchild of Phil Ming Xu.

Intrestingly Both Rodriguez and Dos Santos were affiliates in WCM777.

In their complaint, the SEC allege that Vizinova was a $5 million dollar Ponzi scheme.

Through the shell companies Kingdom Marketing Group, Eagle Holdings Group and FirstNet United, Rodriguez and Dos Santos laundered and kept about 30% of invested funds.

Now ask yourself a question:

Do I want to invest my money in connection with individuals that have that type of background.

Would I trust my hard-earned money with people who were investigated by the Securities and Exchange Commission?

The AirBit Club Product Line

There are no discernable products in connection with AirBit Club.

It seems as though AirBit Club has no retailable products or services to sell.

Affiliates are only able to market AirBit Club affiliate membership itself.

In the United States, the Federal Trade Commission has started to shut down MLM companies that have no retai products to sell.

That is the reason they shut down Digital Altitude and M.O.B.E.

It’s a huge red flag when a MLM company is only selling memberships to new recruits and has no products to sell outside of the business opportunity.

When you join AirBit Club, as a member you do get some tools to help you trade cryptocurrency.

However, there are no retail products for sale to members either inside or outside of AirBit Club.

How Does The AirBit Compensation Plan Work?

AirBit Club compensation plan is svery interesting.

It has 2 multi-level marketing commission structures along with a structure set up to get maximum return on investment. 

The MLM side of the pay plan works through referral marketing where you will need to find people to join the business opportunity, and when they do you earn commissions.

With the ROI side of the commission plan, the company mining efforts award you with a positive return on investment for leaving your cryptocurrency with them during a specific number of days. 

Also, members will earn referral commissions the same as is done in most multi-level marketing companies.

When you join AirBit Club, there are three membership levels available. They include:

  • Executive Level – $250
  • Corporate Level – $500
  • Pro Level – $1000

Hold on…This gets even better!

It seems as though the shenanigans of AirBit Club has caught up with them.

Update March 2020: Philippines SEC Issues Advisory Against Airbit Club

The following is from the Securities and Exchange Commission Phillippeans:

“ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT

ADVISORY ON AIRBIT CLUB

The Securities and Exchange Commission has received information that individuals or group of persons representing AIRBIT CLUB and its marketing affiliate, GO88 VENTURES, INC., are offering online investments to the public.

Per records of the Securities and Exchange Commission (“Commission”), AIRBIT CLUB is not registered as a corporation or partnership and is not authorized to solicit investments from the public as the above-mentioned entity did not secure prior registration and/or license to solicit investment from the Commission as prescribed under Section 8 of the Securities Regulation Code.”

You can read the entire S.E.C. document by clicking here.

In other words, AirBit promised that members would double or even triple their investments by joining. 

A large number of members were victimized because they never experienced the promised return on investment.

Members were led to believe that by joining they were earning money for their retirement plans, and had to learn the hard way that AirBit Club lied to it’s members.

Is AirBit Club A Scam?

Is AirBit Club A Scam?

Yes, in my opinion, AirBit Club has the makings of a scam.

I would not encourage anyone to invest in AirBit Club.

Their marketing tactics are world-class. If you look at the sales video on their website, the production is outstanding.

A more accurate description of AirBit Club is that it is a Ponzi Scheme.

Below is a screenshot from the website Investor.gov from the U.S.Securities and Exchange Commission:

The bottom line is this: When a company has an MLM style compensation plan and sells no products for retail OUTSIDE of the MLM opportunity, then that’s cause for real concern.

Over the last few decades, there have been a pandemic of unregulated cryptocurrency and Bitcoin companies across the globe.

These unregulated companies have ignored their governments concerns as they attempt to make massive amount of profits in the least amount of time.

These programs, or”Ponzi Schemes” started getting shut down in the US.

However, following the lead of the Securities and Exchange Commission and the Federal Trade Commission, now many countries the world over are shutting many of these scammers down. 

The problem is these Ponzi Schemes proliferate like wild mushrooms and government agencies don’t have enough resources to deal with all of these schemes in a timely fashion.

That’s why blogs like this one, even in a very small way, can help warn unsuspecting people to steer away from these schemes.

The Choice Is Yours – What Will You Do?

The problem we have here is people want to make as much as possible from their so-called investments without having to work long and hard for a return on their money.

In other words, many people who fall for Ponzi Schemes are either lazy or misinformed.

They don’t want to put in the hard work and sacrifice necessary to build their own online business.

I don’t know what it will take before people wake up and realize that the dishonest, shady scammers running these schemes are concerned with onl ONE thing:

Taking as much money from you as they possibly can!

People like the idea of just investing money and supposedly let someone else do all the hard work and heavy-lifting.

Unfortunately, it just doesn’t work that way.

I want to say something to you that I sincerely hope you’ll understand:

YOU have to participate in your own financial rescue.

No one and no company and no investment is comming to save you.

Some of you ask: “Why does he say that you have to participate in your own rescue?”

Why You Have To Participate In Your Own Financial Rescue

So my question to you is: What will YOU do?

When nothing in my life was working financially, I decided to participate in my own financial rescue.

I didn’t want to throw money at a company and then wait to see what happens.

Also, I didn’t want my financial future to depend on individuals who had a track record of shady business dealings.

The choice I made years ago was to build my own affiliate marketing business through Wealthy Affiliate.

It’s been the best business decision I’ve ever made.

The choice is yours, my friend.

Talk Soon,

Howard



Share This Post So You Can Help Others!
  •  
  •  
  •  
  •  
  •  
  •  
  •  

Leave a Comment