BitxPay.Live Review: Bitx Pay Scam Alert! Without a doubt, BitxPay.Live is a scam, not a trustworthy company. Yes, we agree that it may pay a few members but that doesn’t make it legal or sustainable. It will stop paying sooner or later due to which the majority of members will lose their money. Why? Well, let’s find out the answer in detail through our BitxPay review here.
Why is a BitxPay scam?
BitxPay Live is a scam due to the following reasons:-
# BitxPay is a Ponzi scheme which is neither a legal nor a sustainable scheme. Legal authorities have already warned the general public to stay out of the Ponzi scheme due to its unsustainable nature. The majority of members will lose their money in Ponzi scheme and only a few ones who join the system at first will make some few bucks due to which you will find out few people who promote and support some Ponzi schemes.
# We can say BitxPay is a Ponzi scheme because it doesn’t have any real source of income to pay profit to its members. It claims to pay up to 15% daily profit for 10 days on the investment amount of members by using the money of members in its so-called automated trading using the BitxPay Bot. But in reality, there is not such Bot or system. It fails to provide the proof of the existence of its so-called automated trading using BitxPay Bot which proves it doesn’t have any real source of income and only can pay members by routing the money between the members which is not a sustainable business.
# All the Ponzi schemes like BitxPay Live trick people by showing the real payment proofs because they pay few members at starting by routing the money between the members so that they can lure more people into their scheme by showing those payment proofs. However, it is practically not possible to pay all members in that way because when they pay one member, they need to use the money invested by other two members so that they can pay the principle and profit to that one member. But, whenever they pay members in that way, they will create a debt equal to the amount of profit that they use to pay the members. So, even Ponzi schemes like Bitx Pay want to pay all members they can’t because day by day the debt will be kept on increasing and they will not have enough fund to pay all members. That’s why Ponzi schemes like BitxPay are illegal schemes.
# BitxPay has tried to trick people by showing the company’s registration document registered from the UK Companies House in the name of BITX LIMITED. But, don’t fall for that trick. Lots of Ponzi schemes in the past had already turned into scams which were registered from the UK Companies House. Actually, it is very easy to register a company in the UK Companies House by providing the virtual address which you can rent from the virtual address provider services as well as by providing the third person identities. Even you can register a company in the UK Companies House without a big hassle. On top of that, such kind of registration is not the license to run an investment company like BitxPay, but just a registration for the tax purpose. On the other hand, there is not any proof that proves BITX LIMITED is linked with BitxPay.Live website.
# Bitx Pay also operates another illegal scheme known as a Pyramid scheme because any company which pays the referral commission up to multi-level downlines without selling any retail products or services is known as a Pyramid scheme. BitxPay is also claiming to pay the referral commission up to 3 level downlines but without selling any real products or services, just on the sales of its Ponzi ROI plans. So, this makes BitxPay a Pyramid scheme as well.
Now you know that BitxPay is a Ponzi-Pyramid hybrid. So, BitxPay.Live is a fraudulent website. That’s why we have listed Bitx Pay within our “Scams” category which means we don’t recommend you to invest in BitxPay.
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