Giftobit Review – Is This A Good Opportunity Or Big Scam?
You may have noticed that Giftobit is getting a lot of hype and attention these days.
You might have had some friends in Network Marketing approach you about Giftobit, or you may have seen it on social media.
I want to let you know, first of all, that I am NOT promoting Giftobit as my own business opportunity. I am not an affiliate or distributor.
I have gathered here all the facts about Giftobit in my Giftobit Review – now you can learn all you need to know about it.
Is Giftobit really a legit business?
Is Giftobit a safe business to join?
Let me show you in my review of Giftobit.
Get started by reading my review below.
Exactly What Is Giftobit?
In the case of Giftobit, we’re looking at a company that operates in the field of bitcoins. The domain name for the Giftobit website was first registered back on June 20th of this year, but unfortunately for us the registration is set to a private state.
The Giftobit website used to offer no information at all in regards to who was actually behind the company, but the site was recently updated on September 11th, 2016 to finally provide this information.
According to the site’s recent update, Giftobit is owned and operated by both Carlene and Daniel Spiteri. Carlene and Daniel are supposedly mother and son, and according to a bio for Carlene that is posted on Coinxion, Carlene previously had involvement with “two online global digital payment systems.”
That might sound like a nice rep at first, but if we do a bit more research, we can see that both of these payment systems were shut down by the government in 2008 and 2012 respectively. Oh, and as for Coinxion, that was a form of cryptocurrency crowdfunding service that has since shut down.
Along with this, Carlene also used to be an affiliate for a company by the name of GCR Marketing. For those who aren’t familiar with the company, GCR Marketing was a scheme that took money from affiliates in return for a form of worthless cryptocurrency by the name of GCR Coin. The company shut down sometime earlier this year in 2016, and there were also investigations going into the company that were being conducted by both the SEC and FBI.
As for Carlene’s son, Daniel, the man claims to “manage a number of online chat rooms”, and also prides himself on being an “online gamer and online trader.”
That certainly isn’t the most promising background info we’ve ever seen, but at least we now know who’s behind this company.
Without any further ado, here’s just what Giftobit has to bring to the table.
What Is The Giftobit Product Line?
In regards to the product line that Giftobit has to offer, there really isn’t a whole lot to talk about. You see, Giftobit doesn’t have any products or services to market or sell to retail customers. As a result of this, affiliates for the company are only really able to sell the membership itself to prospective buyers and investors.
With that said, once an affiliate is signed up for the membership program that Giftobit is running, they are given the chance to purchase matrix positions that run for 0.05 BTC a pop. These matrix positions are required if an affiliate wants to start earning money through the MLM side of the company, and each position also comes equipped with what Giftobit calls an “Online Education Program.”
This Online Education Program is supposed to help education people about bitcoin and other cryptocurrencies out there, but the actual validity of this program is currently up in the air.
What Can You Tell Me About The Compensation Plan For Giftobit?
Speaking of those matrix positions, let’s talk more about the matrix that Giftobit has set in place. Along with costing 0.05 BTC for each position, the type of matrix that Giftobit is using is that of a 5 x 3 matrix.
If an affiliate doesn’t want to spend 0.05 BTC of their own to secure a position, they can also obtain a spot in the matrix by recruiting 5 other affiliates to sign up and purchase a 0.05 BTC position of their own.
On top of this, every single time that an affiliate is able to recruit 5 other affiliates, they’ll be able to earn another 0.05 BTC position in the company’s matrix. So, the more recruiting that you do, the faster you’ll earn more 0.05 BTC positions in the 5 x 3 matrix.
The 5 x 3 matrix is complete once all of the 125 available positions have been filled, and this takes place through both direct and indirect recruitment methods.
There are 2 separate tiers for the 5 x 3 matrix that Giftobit is running, and each tier comes with 3 different levels. Higher levels cost more BTC, but they also result in more cash being able to be earned.
For example, if you buy a position at the level 1 spot in the tier 1 matrix, you’ll have to pay a fee of 0.05 BTC. However, you are then eligible to receive 0.05 BTC from 5 other affiliates within the company.
This results in a simple cash gifting scheme, but since we’re dealing with bitcoin, the money that is trading hands becomes a bit more difficult to track and keep an eye on.
What Will It Cost To Join Giftobit?
When it comes down to signing up as an affiliate for Giftobit, the membership itself is actually free to start out with. However, if you want to take part in the MLM side of the company and want to start earning cash, you’ll need to secure at least one position in the matrix system.
This position can either be secured by buying it for 0.05 BTC, or recruiting 5 other affiliates to do this.
Is Giftobit A Scam?
If you have heard that Giftobit is a scam, then you’ve come to the right place to find out the truth.
What’s the truth – is Giftobit a scam?
I would say not exactly. However, there are some things to be aware of before joining, which I have detailed in the conclusion.
You will only be successful by recognizing the weaknesses and finding a way to move past them.
Conclusion For My Giftobit Review
As an affiliate for Giftobit, you’ll be tasked with securing positions in a matrix system in order to get cash gifted to you from other affiliates. These positions can be secured by either paying for them outright, or by recruiting so many affiliates to purchase their own positions.
Although cash gifting is nothing new in the world of MLM schemes, the fact that all of the gifting is being done with bitcoin creates for some even more concern. Because of the nature of bitcoin, being able to track these funds once they’ve been released will be nearly impossible.
When it comes time to get the money you’ve earned, Giftobit charges a withdrawal fee of a whopping 25%. That’s a huge fee to pay for simply releasing the money you’ve earned through the system, but it really isn’t all that surprising considering on the company is operating.
As with many other matrix systems with these kind of schemes, the only positions that will earn any actual money have more than like already been filled by admins that Carlene and Daniel have added. As a result of this, other people investing into the company will either earn a very miniscule amount or nothing at all.
And, as with all other cash gifting schemes, once the recruitment levels begin to die down, the entire matrix will quickly begin to collapse in on itself. It’s a pattern we’ve seen time and time again, and it results in us strongly suggesting that you keep your investments away from this company.
I definitely hope you have found value in my Review of Giftobit.
I went into a lot of detail so that you can make a proper decision about whether you want to join or not.
If you do decide to proceed with Giftobit, make sure you take the time to learn how to market yourself!
My training below can help you with that.