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Is Bizzcoin A Scam? Why You Need To Debunk This Ponzi Scheme cryptoMLM!
Welcome to My Bizzcoin Review!
Perhaps, you’ve seen a couple of posts online with people boldly saying that they’ve gained lucrative income with what they’ve built with Bizzcoin. Maybe it has made you curious and would want to join the opportunity as well.
Bizzcoin Review Summary
Founders: Gohar Gurpreet Dhaliwal, Rehan Gohar, And Rizwan Gohar
Product Type: Multi-Level MarketingPrice: €50 ($60) - €25,000 ($30,000) For The Investment
Quick Summary: Bizzcoin is a cryptocurrency that is accumulated by the Forex MLM BizzTrade.
In Bizzcoin’s website, they encourage people to use this crypto-opportunity for diverse payments and trading.
There’s a promise of ROI and trading but apparently, this is just another crypto fraud!
Overall Rating: 1/10
But before you do that, just like what wise people do, you’ve decided to check what is Bizzcoin about and whether it’s legit or not.
If that’s the case, then you’re in the right place!
This Bizzcoin review contains all the information you need so you can decide if it’s right for you or not.
What Is Bizzcoin About?
Bizzcoin is the cryptocurrency counterpart of Bizztrade, the Forex multi-level marketing (MLM), which, on the other hand, is the Ponzi continuation of the BizzTrek pyramid scheme.
It was in 2020 when BizzTrade announced it was jumping on the crypto bandwagon with Bizzcoin but apparently, just like how the Forex fraud Bizztrade was, there are telltales that Bizzcoin is just a scam.
The crypto MLM claims promise a return of investment, too.
In addition, it’s also being utilized in BizzTrade, an ERC-20 token that can be set up in about five minutes.
While it all sounds legit and interesting, Bizzcoin is just another shitcoin -- crypto that has little to no value. After launching publicly at 39 cents, Bizzcoin (BIZZ) is now equivalent to 0.6172 EUR but it’s still basically less than a dollar and outside of BizzTrade there is no interest.
The only good thing about this is that it comes in handy as it’s now available in a mobile app.
As stated on their website, it’s utilized for diverse payments and +trading. It was circulated among BizzTrade’s inner circle and was listed on Bilaxy around April of 2020. This Bilaxy is a shitcoin exchange with a few thousand users. It appears to be operated by anonymous Chinese-speaking admins out of Asia.
Ever since being generated, BizzTrade has been promoting BizzCoin to investors through packages, which we will discuss further below.
As discussed, Bizztrade added this crypto MLM to their business and basically, the same people behind it are the ones also behind Bizzcoin’s MLM opportunity, including the brothers Rehan and Rizwan Gohar and another co-founder by the name of Gohar Gurpreet Dhaliwal.
Launched around 2020, the Bizzcoin website was created in 2018 and was updated around 2020 (probably the time they launched it) while Bizztrade’s domain was created way back in 2011.
Surprisingly, WhoIs says that Bizzcoin’s domain is for sale.
Now, that’s interesting.
Bizzcoin Product Line
There are no retailable products to sell in Bizcoin’s business opportunity. It may offer packages that correspond to an ROI daily but what it really markets and sells is the affiliate membership itself.
It also comes with the campaign of their crypto, Bizzcoin, and as stated on their website, they empower people to use such as a single currency for trading and diverse payments.
And here's the BizzCoin Acceptability they claim:
- BizzWallet - A Non-custodial wallet
- BizzExchange - A trading platform
- BizzMart - A shopping platform
- BizzTravels - Travel booking with BIZZ
- InfiPay - Crypto-Friendly Payment Solutions
- POS System - BizzCoin Merchant Solution
- BizzGaming - Play games and win BizzCoin
- BizzATM - Cash-out & Cash in thru ATM
Is Bizzcoin A Scam?
Most information points out that Bizzcoin is a scam. There’s no actual product and the main agenda is more on drawing people into the program and scam the money out of their investments.
It’s a Ponzi and pyramid scheme because indeed something fishy is going on.
Also, outside the program, their crypto has no interest.
In addition, the website domain is out on a sale. So, what will happen next? Perhaps, shut down or reboot to another fraudulent scheme?
Is Bizzcoin A Pyramid Scheme/Ponzi Scheme?
A pyramid scheme is a fraudulent system of making money based on the recruitment.
Since there are no retail sales, the only source of income is when you can successfully invite other people who will also invest in the program.
They may say that there’s trading but it is most likely that recruitment commissions are the bigger pool of pay here.
The predecessor of its root BizzTrade, which is BizzTrek, was even coined a pyramid scheme. In case you didn’t know, pyramid schemes are illegal and so are Ponzi schemes.
As for Bizzon, it claims to include trading but it’s not even registered, thus they’re operating illegally.
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Bizzcoin Compensation Plan
Basically, this is how you make money in Bizzcoin’s crypto opportunity:
- Passive Income - As your BizzCoin Package is incubated for 52 weeks, you become eligible for earning a passive income of up to 10% monthly, depending on your Package.
- Active Income - Below are the details about active income:
- Direct Income - Any time a BizzCoin Package is sold through your personal referral link, you get 10% of his or her Package value.
- Team Bonus - The binary bonus is paid daily midnight UK time (GMT). You will receive 7, 8, or 9% of the total volume of your smaller team, depending on your own Package. To receive this bonus you must activate your Binary by recommending at least one direct person each, to your left and right. Both these people must at least have a Starter Package.
- Matching Bonus - All members with Trader or Pro-Trader are entitled to Matching Bonus. This is paid up to 5 Generations. Your direct referrals are your 1st Generation and their direct referrals are your Second Generation and so on. Every time anyone in your 1st Generation to 5th Generation earns Team Bonus, you get 2% of that.
- Renewal Bonus - Whenever an existing team member buys a new Package or renews their Package, you get a Direct Bonus, Team Bonus, and Matching Bonus again.
- Ranks And Rewards - Bestowed upon members based on the points achieved in their organization, a total of Left and Right teams, every calendar month.
Being an MLM, these are the affiliate ranks:
Team Leader-200 points
- Executive Leader-400 points
- Regional Director- 900 points
- Executive Director- 4,500 points
- Regional President 9,000 points
- Executive President- 21,000 points
- President- 60,000 points
Depending on ranks, they also give vacation trips, leadership meetings, car bonuses, and a Special retreat with the Co-Founders.
- Escrow Reward - It is a special wallet in your back-office where you can deposit your BizzCoin (BIZZ), to get 20% extra, instantly. You shall be able to see the new total BIZZ (120% of the amount deposited) and upon completion of the maturity period of 365 days, these BIZZ are released to you. You can transfer funds from your Commission Wallet to your Escrow Wallet.
How Much To Join Bizzcoin?
Setting an account in Bizzcoin is free. There is not set-up free for that but to earn a commission, you need to buy any one of the available packages they have:
- Starter – €50 EUR
- Pro Starter – €100 EUR
- Business – €500 EUR
- Pro Business – €1000 EUR
- Trader – €5000 EUR
- Pro Trader – €10,000 EUR
- VIP – €25,000 EUR
When you buy a BizzCoin Package, you get access to BizzTrade Academy and you’ll learn about Forex Trading and Cryptocurrency.
You also get BizzCoins (BIZZ); the number of BIZZ depends on its value in their system, at the time of purchase. e.g. If the price of BIZZ is €0.33 and you buy a Pro-Business Pack (€1,000), then you will receive 3,000 BizzCoin (BIZZ) in your back-office.
However, there is a one-time €10 Activation Fee with the purchase of every pack. You may choose up to five Packages on one account.
You can buy the Packages at different times, however, once you buy any Package, the next package you buy can only be of the same or higher value.
Honestly, there’s nothing really to like about BizzCoin and what it offers so I’ll go straight to its drawbacks.
Since it's also a passive income opportunity, it should be registered to sell securities but apparently, there’s at no point in its history that Bizztrade nor Bizzcoin registered its passive investment opportunity with a financial regulator.
So, if they still sell such passive investments, it simply means that they are illegally operating. If you’re an affiliate promoting the company, you’ll also get in trouble.
Shitcoin Ponzi Scheme
As mentioned, a shitcoin crypto is of little or no value, so why join an opportunity that would not ensure you the income you desire. Promise ROIs in this opportunity are all empty claims to let you fall into a scam that it is.
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Joining, you will have access to the BizzCoin back-office and a referral link, and once you purchase a package, you get access to BizzTrade Academy and you’ll learn about Forex Trading and cryptocurrency.
You also get BizzCoins (BIZZ) and also payments are done through Bizzcoins.
Well, it’s not to debunk MLMs, especially those in the cryptocurrency niche but it would be really hard finding a legit opportunity in such niches, I could say that BizzCoin is not one of those legit opportunities.
In fact, it’s one that you should definitely avoid since it’s also a Ponzi and pyramid scheme. With all the red flags and fraudulent schemes said, it is definitely a scam!
It may come as an enticing opportunity to earn money but the truth of the matter is that it’s a business that only survives through recruitment as the funds invested by affiliates will be the sole pool of income.
So, don’t be fooled! Flee from such scams! May it be BizzTrade or Bizzcoin, definitely not recommending you to such programs!
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Thank you for reading my Bizzcoin Review!