PayBit Club Review – (2020) Scam or Legit Crypto Opportunity?
Welcome to my PayBit Club review!
Are you just hearing about this company and want to get more facts?
I’m here just for that. We’re going to get down to the bottom of rather or not PayBit Club is legit.
Sometimes there are reviews that are very biased. You don’t want to read those. It’s best to learn from someone who is not associated with the company so that you can focus on pure facts.
Today I have you covered. We get into the details to let you know exactly what this opportunity is about.
PayBit Club Review
Now that people are beginning to open up stores that accept crytocurrency, they are needing a merchant that accept these types of payments. PayBit Club was made with that in mind.
The people behind this idea are Daniel Cruz and Jairo Flores.
What is PayBit Club?
Imagine that you want to start a store selling shoe, but you want Bitcoin as payment. You can integrate their software into your business so that you can sell online services and good.
Payment processors are not a new thing.
But in the industryof cryptocurrency, this is actually something you don’t see often.
I do think it’s a good idea on their part.
As far as leadership goes, I don’t know much about the guy running the show other than his name. I guess the good news is that there is no dirt on him as far as I know.
PayBit Club Products
I think it’s a pretty fair setup. When you set up your store and begin taking payments, they only ask for a 2% transaction fee. With other payment processors, it’s about the same percentage.
When I created a shopify store, I noticed that even they were priced around that as well.
Your PayBit store will allow customers to exchange their crypto for cash if needed in which the merchant will earn 6%.
I think that is pretty cool honestly.
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PayBit Club Compensation Plan
Normally PayBit Club gets all of the transaction fees. However, you can upgrade your account and it will actually allow you to get a percentage of it.
Besides that, PayBit Club affiliates are also paid from their affiliates investment if they get a package below:
- Starter – $25 entry cost, access to back office, residual on transactions 0.1%.
- Newbie – $50 entry cost, access to starter services and eCommerce system commissions of 50%, residual on transactions 0.25%.
- Amateur – $125 entry cost, access to all newbie services plus virtual tool kit to get merchants and eCommerce system commissions of 100%, residual on transactions 0.37%..
- Partner – $250 entry cost access to all amateur services, plus virtual tool kit to get affiliates, residual on transactions 0.5%.
- Manager – $500 entry cost, access to all partner services and bonus online crypto education, earn 25% in earning pool and residual on transactions 0.5%.
- Director – $1,000 entry cost, access to all manager services, earn 0.5% transactions and 35% in earnings pool.
- Founder – $5,000 entry cost, access to all director services, earn 0.5% on transactions and 40% in earnings pool.
It’s important to note that you must have bought a package to qualify for earnings.
Direct Sales Commissions
If your affiliate decides to use the PayBit Market where they are can get access to products and services, you can earn 5% on direct sale commissions from their efforts.
However, if they want a personalized store with a name of their choice with their own products, you will earn $62.50 from their initial setup and you’ll also earn a residual $6.25 per month.
If your serious about maximizing your profit. You can pay some money to get a cut of your customers transaction fee that would otherwise go to PayBit Club.
You can choose either of the following packages to get a piece of the pie:
- Starter = 0.1%
- Newbie = 0.25%
- Amateur = 0.37%
- Partner and Above = 0.5%
When you first start as an affiliate and get a merchant to join, you can earn 50% BV on whatever package you purchased to join.
BV is 0.5 cents to the dollar.
For example, if you are a founder and purchased the $5,000 package, you can earn $1250.
If you are a starter at $25, you can sign up for the higher paying affiliate (ex: $5K founder) you would get a max of 3 times your package value (ex: $75).
A binary compensation plan places YOU at the top of the binary structure and splits into two sides (left and right):
There is a nice illustration above to help you understand.
You are at the top.
And on the first level there is a women and two positions to be filled.
Illustrating the second level, you have a nice young man in blue. On this level, the binary divides the first two positions into another two, thus making it four in total.
These positions can be filled up either directly or indirectly by team members.
There wasn’t any information on frequency of how often the binary volume is calculated, but the fact that you get paid 20% on the lesser leg is for sure.
You are also capped depending on your package you purchased when you first got started:
- Starter = $25 per day
- Newbie = $50 per day
- Amateur = $125 per day
- Partner = $250 per day
- Manager = $500 per day
- Director = $1000 per day
- Founder = $5000 per day
Team Matching Bonus
When your first generation makes a binary bonus, you can earn 20% of that bonus.
So when a merchant process a transaction, they must pay a 2% transaction fee.
You can have a look at how that works below:
- 0.5% to whoever signed up the merchant
- 0.5% goes to the company for research and development of new products and services
- 1% goes to club members
This pool is capped at 1.5% of the package price that you joined with.
Hitting higher ranks means more money. You achieve them with the following criteria:
- Bronze – Earn 5,000 BV and receive a Pin
- Silver – Earn 15,000 BV and receive a Trophy
- Platinum – Earn 50,000 BV and receive a iPad
- Gold – Earn 100,000 BV and receive a Macbook
- Sapphire – Earn 250,000 BV and receive a Watch/Bag
- Ruby – Earn 500,000 BV and receive a Trip
- Emerald – Earn 1,000,000 BV and receive a Honda Accord
- Diamond – Earn 2,500,000 BV and receive a Mercedes
- Blue Diamond – Earn 5,000,000 BV and receive a Maserarti
- Black Diamond – Earn 20,000,000 BV and receive a Home
- Ambassador – Earn 50,000,000 BV and receive 10% profits
As you can see, they have 12 ranks in total.
How Much is it To Get Started
You may not have a budget to go big right away. However, they have a couple of choices laid out for you.
- Starter – $25
- Newbie – $50
- Amateur – $125
- Partner – $250
- Manager – $500
- Director – $1,000
- Founder – $5,000
The reason people try to get the highest package is that you earn more.
The more you pay, they more you earn.
But is it all worth it? $5,000 is a huge investment.
We need to know that were not just throwing money down the drain. You should stick to the very end if you want to know what I think.
My Final Words
Starting an online store is not a bad idea.
People make millions with eCommerce stores.
Since nobody is really doing what PayBit Club is doing they are really in a good position. If you want to bring something fresh to the people then this is something they probably never seen before.
And it’s actually a good idea.
On top of that, the compensation plan is compliant with the FTC which is rare.
They actually put emphasis on the selling of their service and not just rcruiting.
They did make one fatal mistake. It’s easy to fix but right now it’s a problem until they do something better. I’m talking about how they ask users to pay more money to earn more…
This is called “pay to play” and it’s frowned upon by the FTC. Yes, it can lead to trouble. An actual known lawyer has spoken on this and agrees. This is what Kevin Thomas has to say.
Even though the concept of this is unique. It’s still a pretty fresh idea. It may thrive or may flop.
I do know this. People have attempted to create their own merchant MLMs and they never worked out. The only thing setting PayBit Club aside is that they are a payment processor for Bitcoin
This may make a difference.
Of course they are still going to need some changing. They can’t rock the pay to play setup and expect to be taken serious.
Until this is fixed, my stance on this company will be a solid NO.
No I don’t think you should join.
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Thanks for reading my PayBit Club Review.
Good luck in your journey,
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