What is Play Bit? Is PlayBit.biz a Scam or a Legit?
Play Bit is a Ponzi scheme, so that is already enough to say this company is bad. If you don’t know what is Ponzi scheme, then it is an illegal scheme which can’t sustain for long time and can collapse anytime without informing anyone due to which lots of people always lose their money in these kinds of schemes.
Ponzi Schemes are not new thing in the market. Although many countries have declared Ponzi schemes are illegal and even have arrested many people who were involved with Ponzi schemes and put them behind the bars, but also due to greed of money, people still don’t stop to involve with new Ponzi schemes.
Anyway, we know you are here because you were searching PlayBit reviews in order to find out either is PlayBit a scam or a legit, either PlayBit pays or not, either PlayBit have any complaints or not and so on. Actually, like we have said before, PlayBit is a illegal company, so sure it is not a good company. But also if you want to find out what is PlayBit in detail, then you can find that within our PlayBit review as below.
List of good online works companies:- newsonlineincome.org/legitimate-work-home-businesses/
Detail review on top online work company known as WA:- newsonlineincome.org/wealthy-affiliate-review/
PlayBit login and join in link:- https://www. playbit. biz/ (Not recommended to join)
What is PlayBit.biz and why we don’t recommend it?
Aforementioned, PlayBit is a Ponzi scheme, means illegal scheme. If you don’t know about Ponzi and Pyramid schemes, then you can click this link:-
Ponzi Scheme:- newsonlineincome.org/ponzi-scheme/
Pyramid Scheme:- newsonlineincome.org/2017/03/06/what-is-pyramid-scheme/
However, there are some people who like to take a risk by involving with Ponzi schemes. But, even if you are a risk taker, then also PlayBit.biz is not a good company for you because of following drawbacks:-
1. Owner details are completely hidden:-
No one knows who and from where is running and operating PlayBit.biz. If the owner details of any online investment company is not clear, then that is already a bad point about that company which prove that intention of owner of PlayBit is not good.
2. Hosting service used by several scam sites:-
PlayBit is using the hosting service of that company which was used by many highly unsustainable Ponzi scheme sites in the past. Most of those sites even not last for 1-2 months. You must know the fact that legit sites always avoid the hosting service which has been used by many scam sites. After all legit sites don’t want to ruined their reputation using such kind of hosting service.
3. Not good for Ponzi risk taker as well:-
Actually all Ponzi schemes are unsustainable and illegal. But, comparing with other Ponzi schemes, PlayBit is more unsustainable because it is offering 10% daily profit for lifetime. Most of the Ponzi schemes which offered daily profit for lifetime and that is also around 10% have always collapsed within 1-2 months. So, there is high chance PlayBit can stop paying anytime soon. So, instead of making money, you have high chance to lose money in Play Bit.
4. Bogus claims:-
Like lots of Ponzi schemes claim, PlayBit has also claimed that they use the investment of the members in Bitcoin and Forex trading and make very good amount of profit from which they can easily cover to pay 10% daily to the members for lifetime. But, in reality, even the world’s top Forex Broker can’t guarantee that they can make 10% daily. So, this is a bogus claim and the only verifiable source of income coming into the PlayBit is the investment amount of members. So, it is 100% sure that they are paying existing members using the money of old members, that is why they are Ponzi scheme. Each time they pay members using that formula, they create debt in the system which can’t be sustain for longer time.
5. Think Logically:-
If any company can generate enough profit to pay back 10% daily to their investors, why they need to collect investment from several people and pay them 10% daily instead of simply taking loan from the bank. Even if they can’t take a loan in the name of the company, at least they can take personal loan in much more lower rate, like around 1% monthly. So, instead of paying 1% monthly, why someone wants to pay 10% daily?
Actually, we can provide much more explanation to prove PlayBit is a bad company, but we think we had already provided enough points to prove that. So, we are now concluding this review by listing BitPlay within our Not Recommended sites list. However, if you want to find out what kinds of companies we have recommended, then you can find the list of our recommended good and trusted online work companies by clicking this link:- newsonlineincome.org/legitimate-work-home-businesses/
However, among all online work companies, Wealthy Affiliate is our No.1 recommendation. If you don’t know what is Wealthy Affiliate, then you can click this link:- newsonlineincome.org/wealthy-affiliate-review/