The Cryptocurrency MultiLevel Marketing niche market is getting filled to the brim with commissions and bonuses throwing Ponzi schemes. With unrealistic promised returns on investment, these scam schemes try to lure unsuspecting investors. One of these Ponzi schemes is QubitTech.
QubitTech is run and headed by Greg Limon, a self-acclaimed “expert” in the field of Security Token Offering (STO). He also claims to be the Co-Founder of DigiMax Global. Ironically, Limon’s name does not appear anywhere on DigiMax’s website. The fact that DigiMax Global is not doing too well (to put it mildly) is another reason to doubt Limon.
QubitTech corporate address features a place in Estonia while its CEO, Greg Limon is based out of London, Moscow, and Toronto. Of course, something is amiss. Perhaps QubitTech’s Estonian address is false. No legitimate MLM company would falsify its address.
For a Ponzi scheme to thrive, it needs new investors. QubitTech is no exception. It has no investible underlying asset, business, product or service. What it markets is its affiliate membership. New investors and new investment are cardinal to Ponzi schemes.
There is also the pressure to reinvest and to convince others to. QubitTech operates a ten tiered ranking system. To move up the ranks and earn more, an investor has to invest more and maintain a high number of personally recruited affiliate. As such, the pay-to-play model of Ponzi schemes and the pressure to reinvest and recruit is being blended to keep QubitTech running.
To enforce recruitments and new investment, QubitTech uses a string of commissions and bonuses. It pays residual and referral commissions and matching bonuses to affiliate who have maintained a high investment downline and a high referral base, that is, personally recruited affiliate.
Understandably, businesses have to network in order to develop. But when networking is almost being” forced” on investors, a scam can be smelt. Why would QubitTech heavily incentivize reinvestment and recruitment if it is not a scam?
How does QubitTech keep existing investors? It simply shuffles funds with the aid of the unilevel and the binary business model its uses. These models place an affiliate atop a team with every personally recruited affiliate placed under them down an infinite number of levels. With these models, QubitTech creates the illusion of earnings amongst its affiliates.
Being a passive investment opportunity, Qubit Tech is a security offering. Yet, QubitTech provides no proof that it has been registered with any of the Securities and Exchange Commissions in any jurisdiction it is seeking investment from.
Essentially, Ponzi schemes take money from many and give it to a few. They depend on new investments, and when new investment ceases, they crash. So will QubitTech.