In brief, Buddyx is a scam. Since, Buddyx operates an illegal business, known as a Ponzi Scheme. So, it might pay at starting, but will stop paying later. So, according to Buddyx review, the safety index for Buddyx.io is: 19/100 “illegal Ponzi Scheme”.
Now, you might be wondering why Buddyx.io is a scam, right? If so, then here, we will give you an informative Buddyx review, along with instructions on how to stay safe from these kinds of scams.
Buddyx is a scam due to these reasons:
- As we mentioned earlier in brief Buddyx review, it is a Ponzi Scheme. That means, Buddyx is neither a legal nor a sustainable scheme.
- Legal authorities have warned the public to stay out of the Ponzi scheme due to its unsustainable nature.
- The majority of members will lose their money in a Ponzi scheme. Only few ones who join the scheme at first will make some few bucks. So, you will find out some people who promote and support some Ponzi schemes, but don't follow them.
We can say Buddyx is a Ponzi scheme because:
- It doesn’t have any real source of income to pay profit to its members.
- It claims to pay unrealistic rate of return on the investment amount of members such as, 30% ROI by not withdrawing for 180 days, but fails to provide the proof of its income source.
- Ponzi schemes like Buddyx employ deceptive strategies by showcasing authentic payment proofs and initially paying a few members to create the appearance of profitability. However, the nature of such schemes leads to financial losses for the majority of participants.
- The business strategy of Buddyx.io bears resemblance to multiple Ponzi scam sites, including Alt-Miner, MGMCapital, Arbimex, Echoone, Winbitup, 202020fund, and others.
Don't fall for registration documents provided by Ponzi Schemes:
- Beware of Ponzi schemes that present registration documents from the United Kingdom or Hong Kong as a means to deceive individuals.
- Don't believe such documents, as they do not serve as a license to operate an investment company.
- These registrations are typically for tax purposes and do not guarantee the legitimacy of the business.
- Many businesses with similar registrations had exposed as scams in the past.
It also operates Pyramid Scheme:
- Buddyx also operates another illegal scheme, known as a Pyramid scheme.
- Any company which pays the referral commission up to a multi-level downline without selling any real products or services is known as a Pyramid scheme.
- So, we can say Buddyx is a Pyramid Scheme because it is claiming to pay referral commission up to 10 levels downline but without selling any real products or services, just on the sales of its Ponzi ROI plans.
Common Queries Related to Buddyx Review:
After knowing the truth of Buddyx, now you might have some queries like:
- How to get refund from it?
- How to stay safe from similar kinds of sites?
- Where can we encounter with similar kinds of scams?
Well, you can find the answers to these queries in detail below:
How to get a refund from scams like Buddyx?
It is almost impossible to get a refund from Ponzi Schemes like Buddyx.io. However, still you can try these methods:
- Withdraw as soon as possible: If have already invest in Buddyx without knowing it's a scam, then it's better to withdraw your money as soon as possible. Since, most of Ponzi Schemes pay few members at starting to lure more people into their scams.
- Keep records of everything: Write down all the info about your investment, save chats with the company, like pictures, emails, and order confirmations, so that you can show them to legal authorities later.
- Contact bank or other payment services that you have used:
- You should contact your bank or credit card company, so that you can ask them to help you to get a refund.
- If you had used other payment methods, then reach out to support staff of that company and ask them to help you to get your money back.
- Report to Authorities: Report the scams like Buddyx to relevant authorities, such as the FBI, FTC, etc. or your country's concerned legal agencies.
- Keep an eye on your accounts: To prevent additional unauthorized charges by the scammer, closely monitor your financial accounts. So, change passwords and enable two-factor authentication on your online accounts for added security.
- If nothing works or you lost a lot of money: Think about talking to a legal expert or concerned group. Since, they can guide you on taking legal action against the websites/companies that scammed you.
But remember, how well these steps work can vary. Since, it depends on where you live, how you paid, and the rules of your credit card company or PayPal.
How to stay safe from scams like Buddyx?
Here are some tips that can save you from scams like Buddyx:
- Search about the company: Before you put your money, try to find out the reality of the company. Firstly, check for reviews, ratings, and what customers say. Furthermore, check given contact info, since real businesses have a real address and contact info. Scams may have fake or none.
- Watch out for deals that seem too good: Scams like Buddyx use super high rate of return to trick you. So, don't invest anywhere which seems too good to be true.
- Use Safe Payment Methods: Stick to popular and safe payment methods, such as credit cards or PayPal if available. In contrast, be highly suspicious of websites that only accept payment forms like gift cards, wire transfers, etc.
- Use Strong passwords: Use unique, hard-to-guess passwords for your payment accounts. Moreover, add two-factor authentication for extra safety.
- Watch for Phishing Attempts: Be cautious of emails from unknown senders with links. So, check the link before clicking it. Moreover, look at the website's URL to make sure it's not fake and related to the website name.
- Be Careful with Your Personal info: Avoid any websites asking for too much personal info.
What are the possible ways to encounter with scams like Buddyx?
You may spot scams like Buddyx in following ways:
1. Phishing Emails and Messages:
Scammers send emails that look like they're from real company, but they're fake. They might have company logos and all. But be careful, these emails might have links to fake websites that want to take your personal info or payment details.
2. Social Media Ads and Posts:
Scammers can make ads and posts on social media that look real. They show high rate of return on your investment within few days. But when you click on them, they take you to fake websites like Buddyx.
3. Search Results:
- Scam websites can show up in search results for popular stuff.
- For example, scam websites copy famous brands, with similar logos and designs and show up in search results or in social media ads. So, check the website's address (URL) and look for differences in the branding.
5. Pop-Up Ads:
Be careful with pop-up ads when you're on any websites. Since, some of them might take you to fake websites or try to make you download viruses.
6. Fake Mobile Apps:
Be cautious when you download and use apps. Because, scammers can make fake ones that look like popular apps. They want your personal info and payment details.
7. Unexpected Calls:
Scammers can call, pretending to be from famous companies, and ask for your personal or payment info. So, always make sure they're who they say they are before sharing anything.
8. Emails and Messages from “Friends”:
Scammers can hack emails or social media and send messages to your contacts, suggesting great deals. So, double-check with your friends before clicking links.
Our Final Verdict on Buddyx review:
After a careful assessment of the info provided in this Buddyx review, it is clear that Buddyx engages in illegal activities, categorizing it as a fraudulent business.
If you want to report something about it or add your own Buddyx review, then please feel free to leave your comment below.
If you're looking for comprehensive info about a particular company, website, or online activity, our website, De-Reviews.com, offers a search function to assist you. Simply enter the name of the company, website, or online activity you're interested in and conduct a search.
Alternatively, you can explore our website's homepage, where you'll find a diverse range of informative articles spanning various categories. This valuable resource can help you identify the latest trending scams, along with other useful info.
If you want to share this Buddyx review with your friends and families through your social media accounts to make them aware of this Buddyx scam, then please feel free to do so.
FAQs related to Buddyx review:
Is Buddyx.io a safe platform to invest in?
As mentioned earlier in this Buddyx review, it is not a secure platform for investment. Buddyx.io is categorized as a Ponzi scheme scam, which poses a significant risk of financial loss. Authorities have warned the public to stay away from Ponzi schemes.
What is a Ponzi Scheme?
A Ponzi scheme is like a fancy trick where someone promises you big profits for investing your money. They say you'll get rich quick! But here's the catch: they don't actually make money through any real business. Instead, they use the money from new people joining the scheme to pay off the earlier investors.
So, it keeps going as long as new people keep joining. But when no one new comes in, everything falls apart, and most people end up losing their money. If you want to find out in detail what is Ponzi Scheme and how is it operated, then you can click this link: https://de-reviews.com/ponzi-scheme/
What is a Pyramid Scheme?
Imagine a pyramid-shaped building, where the people at the top recruit more people below them, and those people recruit even more people below them. Each person has to pay money to the person who recruited them.
The ones at the top make lots of money because they get a share from everyone below.
But the problem is that there's no real product or service being sold. It's all about recruiting more people and getting their money. Eventually, the pyramid gets too big, and there aren't enough new recruits to sustain it. Then, the whole thing collapses, and most people end up losing their money.
Does it have provided the contact phone number?
No, it hasn't provided the contact phone number at the time of this review.
Does it have provided the address?
No, it hasn't provided the detailed address. However, it has only mentioned its Head Quarter is inUAE.
What is the contact email address of Buddyx.io?
Its contact email address is support@buddyx.world.
What are the ROI schemes provided by Buddyx?
At the time of this review, the ROI schemes provided by Buddyx.io are: 5% ROI by not withdrawing for 30 days, 10% ROI by not withdrawing for 60 days, 20% ROI by not withdrawing for 120 days, and 30% ROI by not withdrawing for 180 days.
External Links Related to This Buddyx Review:
- Ponzi Scheme – Wikipedia
- Pyramid Scheme – Wikipedia
- High-Yield Investment Programs – Investor.gov
- Investopedia
- BehindMLM
Note: This Buddyx review is based on the info available as of the mentioned date. But websites like this often change, so even if you see different stuff later, it’s still a scam.
Good Luck!
Leave a Reply