What Is BitWings? It’s a Mobile Phone Mining Ponzi Scheme!
Welcome to my BitWings review!
Ponzi schemes are sometimes creative in how they scam people. Apart from relying on people’s lack of knowledge about the cryptocurrency industry, some schemes will also try to make people think that they can easily generate crypto right from their phones.
You read that right. This is what this scam is going to market to you.
Ladies and gentlemen, this is BitWings.
First of all, I must Congratulate you for taking your time to do your own research before buying into any "seemingly good" product.
That's the way to avoid scams and find the legitimate way to make money online!
Let me be completely transparent with you, I'm not associated with BitWings in any form.
So, rest assured that I'm not here to pitch or sell anything to you.
Instead, I'm here to reveal what's behind this program.
BitWings Review Summary
Product Name: BitWings
Founder: Antonio Milio
Product Type: Cryptocurrency Investment Ponzi Scheme
Price: $100 to $10,000 investment
Best For: No one!
Summary: BitWings is a cryptocurrency investment Ponzi scheme that hides behind a pseudo-compliant BS product. There's nothing of value here because the mobile phone and token it produces is worthless.
Rating: 1/100
Recommended: No!
More...
What is BitWings?
BitWings is a MLM company that doesn’t really tell us what it’s actually about outright. There’s no information on who runs the company anywhere on its website. But they do market themselves as a division of Wings Mobile, a Spanish virtual mobile operator founded in 2007.
BitWings is mentioned on Wings Mobile’s website, but it’s not featured on the homepage. It’s weird that Wings Mobile is trying to hide BitWings from the public.
Wings Mobile does have its own affiliate program but it’s not anywhere related to BitWings or MLM.
Wings Mobile does have a “Who We Are” section but no ownership info is provided. Third party sources reveal that Antonio Milio is the CEO of both BitWings and WIngs Mobile. He’s based out of Spain and has history in telecommunications.
There are no information available about him when it comes to his MLM background.
BitWings Product Line
BitWings sells a mobile phone called MinePhone WX. It’s limited to 2000 units and sells for 6000 BWN (BitWings Token).
BitWings Token sells for 20 cents a token, so that puts the phone at about $1,200.
Take note that their official presentation was last year with pre-orders starting on July 1.
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Does The Product Work?
BitWings’ MinePhone WX is nothing more than a fancy gimmick hiding a fraudulent investment scheme.
From the retail side of things, I don’t see the reason why anyone should buy a $1,200 phone that only mines up to 0.2 ETH. The resale value of the phone notwithstanding, it’s nothing more than hardware being marketed to customers as pseudo-compliance.
We were also wondering why the phone never mined BWN given that it used to sell like crazy. We believe that they got people to invest in these coins thanks to the crypto hype train.
BWN was created out of thin air with a 20 cent value attached to it. That’s why it’s being marketed as an early investment and it’s getting people to buy more tokens.
Because BitWings markets BWN as having the potential to go up in value, it motivates people to sign up and invest into the program.
This investment opportunity constitutes a passive income, which constitutes a securities offering. BitWings is not registered with any financial agency to offer securities in Spain or in any part of the world.
That means that on top of operating a Ponzi scheme, they’re also committing securities fraud.
The way we see it, marketing hype will drive the value of the BitWings token (arbitrarily) and will force people to hold on. Once the value has peaked, investors will then start to cash in on their investments.
But by the time investors start to invest, the value of the coin will suddenly go down (again, arbitrarily). Investors will probably have lost more than they’ve invested and will no longer be able to make any money.
This is BitWings’ exit strategy and it’s commonly used by a lot of Ponzi schemes.
How To Make Money with BitWings?
Recruitment is the name of the game here. You can’t make any money if you can’t get new people to invest into the program.
How To Get Started with BitWings?
BitWings membership is tied to an initial $100 to $10,000 investment. The more money you invest, the more money you could potentially make.
BitWings Compensation Plan
BitWings members who purchase a MinePhone WX can take part in the mining and Pool Rewards, listed below.
- Bronze – invest $100 and receive 526 BWN
- Silver – invest $300 and receive 1610 BWN
- Gold – invest $500 and receive 2710 BWN
- Sapphire – invest $1000 and receive 5474 BWN
- Emerald – invest $2000 and receive 11,052 BWN
- Ruby – invest $5000 and receive 28,421 BWN
- Diamond – invest $10,000 and receive 57,895 BWN
Commissions are paid when BitWings members recruit new people and then have them invest in BWN tokens.
MinePhone WX Mining
Based on their marketing material, MinePhone WX can mine up to 0.2 ETH a month or roughly $500. You can also mine BWN tokens.
Bitwings members can sell up to 10% of their generated tokens every month. Bitwings pays out 19 cents per BWN token sold back.
Recruitment Commissions
Bitwings members receive 25% of funds invested by their recruited members.
Residual Commissions
Bitwings’ residual commissions follow a unilevel compensation structure. This places you at the top of the structure. Your direct recruits are placed under you and labeled as your level 1.
Their recruits will become their level 1’s and your level 2.
This goes on infinitely but Bitwings caps it at 7 levels. Your levels determine how much residual commissions you earn and how much they invested:
- Bronze tier members earn 25% on level 1 (recruitment commissions only)
- Silver tier members earn 25% on level 1 and 1% on level 2
- Gold tier members earn 25% on level 1 and 1% on levels 2 and 3
- Sapphire tier members earn 25% on level 1 and 1% on levels 2 to 4
- Emerald tier members earn 25% on level 1, 1% on levels 2 to 4 and 5% on level 5
- Ruby tier members earn 25% on level 1, 1% on levels 2 to 4, 5% on level 5 and 1% on level 6
- Diamond tier members earn 25% on level 1, 1% on levels 2 to 4, 5% on level 5 and 1% on levels 6 and 7
BitWings Ugly Truths Revealed!
#1 Recruitment Is Your Source of Income
Recruitment is the only way for you and the company to make money. There’s no proof that they’re generating income through their tokens because it has no value outside of the company. The phones are nothing more than pseudo-compliant BS to hide their investment scheme.
#2 Securities Fraud!
They are offering passive income through their cryptocurrency investment, but Bitwings is not registered with any financial agency from any country to carry out these transactions and more.
This means that they’re committing securities fraud at the bare minimum. If you do make money off of people when you promote this program, you are criminally liable once the program is pursued by authorities.
#3 Worthless Coin!
Much like every other cryptocurrency Ponzi scheme, Bitwings’s coin is useless outside of the company. It has no market value and is not affected by direct supply and demand issues.
The value of the coin is arbitrarily dictated by the owners and higher ups of Bitwings.
What I Like About BitWings?
There’s nothing to like about this program. It’s obviously a Ponzi scheme and you’re never going to make money out of their program.
Is BitWings a Scam?
Bitwings is a Ponzi scheme with a worthless coin that hides behind a mining phone. There’s no legitimate business operation going on around here.
Let’s get one thing straight here. There’s no reason why anyone should spend a thousand dollars on a phone from an unknown brand that's as expensive as an iPhone.
The business model is nothing more than a recruitment-based Ponzi scheme. Once the recruiting stops, the money stops coming in too.
How I Make a Living Online?
I'm not a fan of MLM, not because it's illegal or not profitable, but because of all the restrictions and the expensive costs involved.
Instead, Affiliate Marketing is my top recommended business model for anyone to make money online.
The reason is simple...
- You don't have to recruit anyone to make money
- You have the freedom to promote any products you want and not being restricted to only promote the products from one MLM company
- It's Free to get started
In fact, with affiliate marketing...
I've personally created a 4-Figure Monthly Passive Income Stream and become financially independent at just 21 years old without any College degree or working experience!
Through my own hard work, I went from a broke restaurant waiter to living my dream laptop lifestyle in less than a year's time...
If you want to discover the secrets of how I did it at such a young age, click here!
