Welcome to our PayBit Club review!
If you are just hearing about this business and want to know more facts, you’re in the right place and we shall see what Paybit is all about. Online reviews about several companies can be very biased, and you can’t make a final decision. Therefore, it is best to reach out to someone who is not associated with the company so that you can focus on the actual facts.
Here, we have you covered. Let us learn more about the company below:
PayBit Club Review
With the advent of online companies accepting cryptocurrency as payment, it is necessary to have a merchant to receive these types of payment. PayBit Club was built, keeping this idea in mind. The people who came up with this idea are Daniel Cruz and Jairo Flores.
What is PayBit Club?
PayBit Club is a cryptocurrency merchant processing platform where eCommerce or Merchants can start accepting bitcoin for their goods and services.
Imagine that you want to start a store selling clothes, but add Bitcoin as one of the payment methods, and you can deploy their software into your business so that you can start selling online services and goods.
Payment processing businesses are not a new thing. But in his industry of cryptocurrency, this is unique than any other ideas lately.
PayBit Club Products
PayBit club offers a platform that merchants can use to collect the cryptocurrency payments for any goods or services sold in the company.
There is a 2% transaction fee off the scale while using PayBit for the transactional process. This amount of commission is standard throughout all the payment merchants.
Merchants can also allow other payment methods like cash, online payments to the customer if necessary for which the merchant gets 6%.
There is also an option for a customer to convert crypto to cash at any PayBit store.
Let us see the compensation plan of PayBit Club:
PayBit Club associates can start earning in the form of commissions as a percentage of the transaction fees.
They can also earn commissions on personally bringing in more affiliates that purchase any one of the following packages:
- Starter – To get into PayClub with this plan, a person should pay $25. Once this is done, they will have affiliate access to the back office and residual income on transactions of 0.1%.
- Newbie – This plan costs $50. With this package, you get access to starter services with eCommerce system commissions of 50%, residual income commissions on transaction 0.25%.
- Amateur – This plan requires you to pay $125, you get access to all new services plus virtual tool kit to avail merchants and eCommerce system commissions of 100%, residual on transaction up to 0.37%.
- Partner – The partner package costs you $250. This gives you access to all amateur services, plus a virtual tool kit to avail affiliates. You will also get residual on transaction 0.5%.
- Manager –The Manager package costs $500. It allows you to access all the partner services, including online crypto education. You can earn 25% in the earning pool and residual income on a transaction, which is 0.5%.
- Director – The director package costs you $1,000. With this plan, you get access to all manager services where you can earn 0.5% transactions and 35% in the earnings pool.
- Founder – The founder’s plan is priced at $5,000. With this plan, you get access to all director services. You can earn 0.5% on all the transactions and 40% in the earnings pool.
You can only avail of the benefits of commissions if you purchase one of the above packages.
PayBit Direct Sales Commissions
An affiliate can earn 5% commissions when Merchants try to sell something from the Paybit Market, and a customer buys it.
If the merchant chooses their own branded web store on their domain, the affiliate would only earn a one-time commission of $62.50 with an addition of $6.25 per month.
An affiliate who joins PayBit by any package can earn a percentage of every transaction made through the system.
The commission amount also depends on the affiliate package:
1) Starter – 0.1%
2) Newbie – 0.25%
3) Amateur – 0.37%
4) Partner and above– 0.5%
Affiliates can also earn by recruitment commissions. PayBit Club affiliates make 50% of sales volume (BV) achieved by members of their recruits.
- Starter – Recruitment of this affiliate generates 12.5 BV
- Newbie – Recruitment of this affiliate generates 25 BV
- Amateur – Recruitment of this affiliate generates 62.5 BV
- Partner – Recruitment of this affiliate generates 125 BV
- Manager – Recruitment of this affiliate generates 250 BV
- Director – Recruitment of this affiliate generates 500 BV
- Founder – Recruitment of this affiliate generates 2500 BV
Is the PayBit Club a legit money-making opportunity?
Well, let’s dive into the facts.
First, as said earlier, the business model is unique, and we do like the fact they are focusing on retail, which is way different and doesn’t often happen in the crypto MLM space.
There is one big flaw in this business model.
When you join through an affiliate program that costs you to join and the only change in the packages is your income potential and a few other added services, it becomes PAY to PLAY.
The FTC doesn’t approve of this at all, a popular renown lawyer Kevin Thomas in the MLM space predicts that you can get in trouble in the future for this kind of scheme.
Also, we are am not sure about the difficulty level to get merchants to use this service in their payment methods.
There were other network marketing companies that were almost similar to this but not in the crypto space, and all of them went down the drain.
For any real merchant to find this company legit, the PayBit club company needs to eliminate the pay to play packages and reward members for bringing in merchants and customers into this service. Personally, it is not recommended that this company can be of any help the way it is right now.