Company Name: BitWaves
Costs: Invest at least 0.005 BTC (bitcoins)
Do I Recommend BitWaves?
You might be able to make money with BitWaves but I seriously doubt it. The company simply cashes in on the current Bitcoin hype, claiming that you can make consistent income just by investing. The idea isn’t unusual and nothing about BitWaves suggests that it will work. Save yourself the time and money. Turn to something like affiliate marketing instead, where you’re working with actual products.
What Products Does BitWaves Sell?
BitWaves doesn’t really offer any products or services for you to buy. Instead, it is promoted as an investment company. You basically give them money and then get a return on it down the line. At least, that’s the theory.
There are four specific investment plans that you can follow. They vary in the amount you get back and how much you have to initially deposit.
The first thing to mention is that you’re depositing (and withdrawing) in Bitcoins. The style makes sense – as the company is trying to cash in on the current Bitcoin trend. In practice, the style isn’t necessarily an advantage or a disadvantage. Some of the main implications include:
- You do have to buy Bitcoins first. This isn’t too difficult but it’s one more step and might be confusing to beginners.
- The value of Bitcoins changes over time. That could increase or decrease your profits, depending on the exact changes.
- This approach muddies the relationship between the money you spend and what you earn. Even if your Bitcoin total is increasing, it becomes harder to calculate if you have actually earned money or not. That may be part of the reason for this design.
- The changes in value make profit more unpredictable. You would have to pay attention to when you invest and current trends to get the best possible outcomes. But, BitWaves offers no information at all about doing so.
- There are no advantages to paying or earning in Bitcoins. The coins are just being used as currency.
Earning through investment is a legitimate idea. Plenty of people do this and it’s a key way to make money. The idea is that you’re paying people to try and use your money to turn a profit in the market. If they know what they’re doing and get lucky, you might earn income. However, there is considerable risk. In most cases, the higher the risk, the higher the potential product.
All of this is standard for the field. This is simply how investment works. You don’t just put money into a company and get a guaranteed income. The only places that operate like that are banks – and the approach there is completely different.
My problem with BitWaves is simple – there is no information about risk. Nothing. Everything on the site implies that you’ll get a consistent return on your investment, anywhere from 4% to 7.1% daily. That simply doesn’t feel realistic (or honest!).
There are also few details about the investment process. Instead, the company relies on claims like the one below, which don’t really say anything useful. And yes, the grammar there is shocking.
After some digging, I found that the company mostly uses cryptocurrency and Forex trading. Even then, they’re offering no details. There is also no proof that any trading is actually taking place.
Even with these issues, BitWaves could be legitimate, in theory anyway. Perhaps they stumbled on an amazing system for seeing consistent returns. Or, maybe they have extremely good investors on staff.
But, that doesn’t seem likely. As I mentioned before, being able to guarantee consistent returns just doesn’t make sense. There are other issues too. For example, what does the company get out of it? If they have the ability to make money through trades, they’d earn more reinvesting their profits.
Legitimate companies do take on investors all the time. But, in those cases, the company typically earns a cut – and the customer is still taking most of the risk, not the company. Here, BitWaves is taking all the risk and getting none of the rewards. That seems like a horrible business plan.
If the company were legitimate, that pattern suggests they wouldn’t stay around very long. Instead, they’d probably be losing money faster than they earned it – especially if there were any downturns in the market.
Also, the site may look professional but it’s not as good as it seems.
Even though there are official registration documents for the company, there are few details about the people behind it. The director is apparently Carl James Hembrough but that’s all the information there is.
There are also persistent grammar errors throughout the site. Most of these feel like whoever wrote (or translated) the site wasn’t a native English speaker. That’s not encouraging when the company is meant to be based in England. An error or two on a site is excusable. But, persistent problems suggest a low focus on quality.
These aspects don’t prove that BitWaves is a scam – not at all. But, they suggest that something is wrong. And honestly, if you’re going to invest in a company, it should be much more reliable than this.
What BitWaves Actually Sells
It’s very likely that BitWaves does no investing at all. Instead, the money returned just comes from other investors.
This basically functions like a Ponzi scheme, where the company is just redistributing money. In the short-term, the style can feel powerful and some people will make money. The problem is, the design isn’t sustainable.
Systems like this only work as long as people are consistently joining. But, they won’t. Recruitment tends to die down and so does the money. Sooner or later, the whole thing simply collapses.
Is BitWaves A Good Business Opportunity?
If BitWaves actually lived up to its claims, then it could be a good business opportunity. After all, you’re (theoretically) earning between 4% and 7.1% on your deposit. Still, be wary about getting involved. If the company does crash, it’s likely to do so suddenly and you could easily lose any money you invest.
There is also a second way to make money, which is the MLM system.
Actually, that’s only partly accurate. MLM stands for multi-level marketing. That’s where you’re recruiting and building a team, earning money from multiple levels under you.
BitWaves offers this but in a truncated form. Basically, you can earn from three levels:
- Level 1: 6%
- Level 2: 2%
- Level 3: 1%
The Level 1 tier is people you recruit, while the other levels were recruited by the tier beforehand. The money you earn is simply based on the amount they invest.
This is a very basic plan and there are no ranks to progress through or bonuses to earn. The style limits how much you can earn but it’s also simpler than a regular MLM. Whether that’s a good or a bad approach depends on your perspective.
This idea is very common in the cryptocurrency field. For example, the site Coinplace has the same structure, although their percentages are higher. That company also promotes the same investment idea and is equally unreliable.
For that matter, there are dozens of companies like BitWaves out there. Many of them use a similar structure and make the same claims, just with different wording.
On a side note – this MLM aspect may have changed. The current information on the site suggests that BitWaves currently works more like an affiliate program. Here, you just earn from one tier, people you recruit directly. The commission rate is 7%.
I personally prefer affiliate marketing. It’s less stressful and you don’t have to rely on a team or on their performance. But, if you’re going in that direction, BitWaves seems like a waste of time. There are better affiliate programs out there, ones that allow you to earn by promoting actual products, ones that are interesting and competitive.
Honestly, how you earn doesn’t even matter. Regardless of whether BitWaves uses a truncated MLM, a full MLM or affiliate marketing model, you’re still dealing with an investment scheme that doesn’t make sense. The company is unlikely to be sustainable and will probably fold in the near future.
This is reason enough to avoid it. Imagine promoting something like BitWaves to a friend or family member and finding out they lost money. No thanks.
Everything about BitWaves suggests that it simply won’t work. Instead, you risk losing money and the company is unlikely to stay active in the long-term.
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For the vast majority of people looking put their dollars to work as passive income, traditional investments like a low-cost index fund is going to be the smarter choices. Even trading stocks is going to be less risky than investing in cryptocurrencies.
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