The Cryptocurrency MLM niche is awash with numerous companies springing up here and there brandishing mouth-watering promises of commissions and ROI.
One of these companies is QubitTech.
Therefore, the question is asked: Is QubitTech A Scam? Can you make money with this platform?
QuibitTech is run by Greg Limon, an expert in the field of Security Token Offering and co-founder of the Toronto-based DigiMax Global, along with a team of other independent experts.
The company promises a 250% ROI for its investors when they recruit more people and upgrade their packages.
The website’s address says its office is located in Estonia; however, this seems to be a virtual address, as the same address has been linked with other businesses.
In fact, reports have it that Limon is based in London, Moscow, and Toronto. This throws a shadow of a doubt on the legitimacy of this company.
Unfortunately, I’ve seen this type of setup all to often when reviewing cryptocurrency MLM’s.
But let us find out more by highlighting the products and features they offer.
Is QubitTech A Scam and Are Any Products Offered
The company offers no retail products or services.
When a company offers no retain products or services apart from signing up as an affiliate, that’s a HUGE warning sign that the company probably is NOT legit.
One can only join the platform by becoming an affiliate, investing in one of their packages, and participating in their income structure and promotion of new members.
Initial membership is free though one has to invest at least $100 to $100,000.
They promise a 250% ROI. One can also earn on the platform by inviting four affiliates within the first week of signing up.
It is important to note, QubitTech only accepts investments in bitcoin and ethereum.
Honestly, if these guys can produce a 250% return-on-investment, then why on earth do they need your money for?
What Are The Investment Packages?
The investment packages are as follows:
- Bronze – $100
- Bronze+ – $500
- Silver – $1000
- Silver+ – $5000
- Gold – $10,000
- Gold+ – $25,000
- Platinum – $50,000
- Platinum+ – $100,000
QubitTech Affiliate Ranks
There are ten different ranks in this compensation plan.
To move up the ranks and earn more, investors will have to invest higher amounts and recruit a high number of affiliates.
These ranks are as follows:
- Rank 1 – earn $1000 by recruiting affiliates
- Rank 2 – earn $2500 by recruiting affiliates
- Rank 3 – earn $5000 by recruiting affiliates
- Rank 4 – earn $10,000 by recruiting affiliates
- Rank 5 – earn $25,000 by recruiting affiliates
- Rank 6 – earn $50,000 by recruiting affiliates
- Rank 7 – earn $100,000 by recruiting affiliates
- Rank 8 – earn $200,000 by recruiting affiliates
- Rank 9 – earn $250,000 by recruiting affiliates
- Rank 10 – earn $300,000 by recruiting affiliates
QubitTech pays referral commissions via a uni-level compensation structure.
This structure, like most ponzi schemes, places an affiliate at the top of a team, and every person recruited by them are placed underneath them. This is level 1.
Whenever this affiliate recruits new members, the new members are placed on level 2 of the affiliate’s team.
Consequently, if any of the level 2 affiliates recruits new members, they are placed on level 3, and the cycle goes on to infinity.
QubitTech caps their unilevel at 4 in total.
Referral commissions are paid out as a percentage of funds invested across these four levels based on how much an affiliate themselves has invested:
- Bronze and Bronze+ affiliates receive 6% on level 1 (personally recruited affiliates) and 2% on level 2
- Silver and Silver+ affiliates receive 6% on level 1 and 3% on level 2
- Gold and Gold+ affiliates receive 7% on level 1, 3% on level 2, and 1% on level 3
- Platinum and Platinum+ affiliates receive 8% on level 1, 4% on level 2, 2% on level 3 and 1% on level 4
QubitTech pays residual commissions via a binary compensation structure.
A binary compensation or bonus is formed by the results of the two branches in the binary.
The commissions are fixed for each pair from $100 in the left and right branches, and they are credited daily.
Positions in the binary team are filled via direct and indirect recruitment of affiliates.
Note that there is no limit to how deep a binary team can grow; it is infinite.
At the end of each day, QubitTech tallies up new investment volume on both sides of the binary team.
The percentage of these commissions depends on the denomination of active license, and it ranges from 8% to 12%, as shown below;
- Bronze and Bronze+ affiliates receive an 8% residual commission rate
- Silver and Silver+ affiliates receive a 9% residual commission rate
- Gold and Gold+ affiliates receive a 10% residual commission rate
- Platinum and Platinum+ affiliates receive a 12% residual commission rate
QubitTech pays a Matching Bonus on residual commissions earned by active downlines.
The Matching Bonus is paid between 10% to 20% via the same uni-level compensation structures that referral commissions are paid with.
Each rank begins with a number: Rank 1 affiliates, Rank 2 affiliates, Rank 3 affiliates, and so on, up to level 10.
Free Investment Positions
Every affiliate who is able to recruit four new affiliates within the first fifteen days of signing up qualifies for a free investment position.
The actual investment position (referred to as a “margin contract”) amount rewarded is “equal to the minimum investment package of (recruited) partners.”
QubitTech’s compensation material states, “margin contracts work until profit is 250% of the initial value.”
Is QubitTech A Scam – Conclusion
QubitTech solely depends on reinvestment and payments of new members to sustain the platform.
This is a sign that it is most likely a Ponzi scheme, because it employs a system whereby one has to keep bringing people and constantly upgrading their level to earn commissions.
QubitTech uses a uni-level and binary business model that allows it to shuffle funds between new members and already existing affiliates.
It creates an illusion of earning by placing an affiliate high up above others that are personally recruited by the affiliate.
Also, when you see slick looking sales pages like the one above, the illusion is created that the company is rock-solid financially.
Don’t fall for the mind-games!
These types of scammers go for the emotional response where they appeal to “how you feel” about a so-called business opportunity rather than making a decision based on solid facts.
This company is bound to crash with this kind of practice of taking money from many unsuspecting victims to give to a few greedy scammers.
QubitTech also mentions no particular tools or software it uses to trade crypto but indulges people to register and become affiliates.
They are not based in Estonia as it says on the website, and are not registered with any financial regulator.
These reasons are enough to deter one from falling prey to this Ponzi scheme. It is very risky and anyone investing their hard-earned money will probably lose it!
QuibitTech is similar to other cryptocurrency/bitcoin scams I’ve reviewed on this blog such as:
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