BIT-ATM is a network of ATM terminals around the world. This gives a possibility to buy or sell cryptocurrency to anybody either with cash or by credit card.
Having long searches in the Bitcoin ATM market and talks to various manufacturers, like Lamassu, Genesis Coin, General Bytes, BitAccess, BitXatm, etc. BIT-ATM selected the most suitable solutions across the web system. At present time BIT-ATM has a strong business oriented enthusiastic team of business developers.
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BIT-ATM network is launching a special technical solution for private investors, which was developed by our team in the beginning of 2020. Now everyone have a chance to participate and profit with us. We, in turn, diversify our financial pool into 2 main areas: expanding the general ATM network by adding mining capacities and by performing HFT operations based on the operation of the entire network. For our network members this option guarantees a stable profit of 3% per day forever.
Is Bit-ATM Scam?
Bit-ATM’s website domain (“bit-atm.net”) was privately registered on July 29th, 2020.
Despite not existing until a few months ago, on its website Bit-ATM claims ‘we started with our business on Bitcoin boom back in 2017.’
Alexa ranks Venezuela (16%), Russia (9%) and India (6%) as the top three sources of traffic to Bit-ATM’s website.
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.
Not evidence of Bit-ATM having exchanges or generating mining revenue is provided.
Furthermore Bit-ATM’s business model fails the Ponzi logic test.
If Bit-ATM’s anonymous owner already has ATMs in place capable of sustaining a 3% daily return, what do they need your money for?
As it stands the only verifiable source of revenue entering Bit-ATM is new investment.
Using new investment to pay Bit-ATM affiliates a perpetual 3% daily return makes Bit-ATM a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve Bit-ATM of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of investors lose money.
Bit-ATM has no retailable products or services, with affiliates only able to market Bit-ATM affiliate membership itself.
Bit-ATM’s Compensation Plan
Bit-ATM affiliates invest USD or bitcoin on the promise of a perpetual 3% daily return.
Referral commission son invested funds are paid out down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 10%
- level 2 – 3%
- level 3 – 1%
Bit-ATM affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $10 or 0.0009378 BTC investment.
Bit-ATM represents it generates external revenue via a crypto ATM network.