Welcome to Buytex review.
Buytex claim to be in the business of launching a crypto exchange to compete with the likes of Binance and Bittrex. I would say the chances of Buytex launching a working exchange are nil.
What we really have is a token based crypto MLM ponzi. The exchange is just the vehicle being used to sell the “opportunity”.
I estimate that Buytex should last a year before the wheels start to fall off. These types of centralized passive programs are starting to seem a little dated. I think people are moving towards decentralized platforms built of smart contracts. At least you can see how much money is left with those.
Lets take a closer look at the Buytex opportunity.
Buytex Review Summary
Key Figures : Anshel Gear
Product Type : Crypto Token Ponzi MLM
Summary : I don’t think the exchange will ever happen BUT you can earn passively through the purchase of Buytex tokens. Min investment is $50 for 500 Bux tokens. You will earn up to 24% per month paid in Bux, which can be converted back to BTC. Buytex also have an MLM comp plan which you can see below.
Verdict: If we ignore the exchange, we are left with something similar to Cloud Token. It will last around 6 months before collapsing.
What Is Buytex
Buytex claim to be interested in setting up a crypto exchange to compete with Binance. They claim to be financing the project through the MLM passive BUX Token scheme. What if I told you that the MLM passive crypto scheme is the MAIN business. In fact:
Buytex Will Never Launch A Working Exchange
Lets just say that CZ at Binance will not exactly be looking over his shoulder any time soon. Buytex really wanted to run a BTC ponzi. The best ponzis to run are token ponzis. The reason for this is that the admin gets all of the precious bitcoin, whilst the investors are stuck with BUX token. When it collapses (which it will), would you rather be holding Bux or BTC? BTC of course!
So these types of passive programs are win/win for the admins and pretty risky for the investors.
So Why Lie About Building An Exchange?
If you give people something to believe in they will invest more. If you can convince them that they will co-own a crypto exchange that will be bigger than Binance, you will attract a lot of money into the scheme. People will BELIEVE ANYTHING, you don’t even need to show any evidence, just tell them lies and they will believe.
So in short, the fake exchange will keep people calm and heavily invested which is the ultimate goal of any crypto ponzi.
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Direct bonus – Paid on the amount invested by direct referrals. As you can see in the previous chart, you will earn between 10% to 12% depending on the package you hold.
Binary bonus – This is paid on the volume of your weakest leg. Depending on your package you will be paid 10% to 13% on your weakest leg, paid every Monday.
Matching bonus – This is an ROI match, meaning you will earn a percentage of the ROI payments that your downline gets. This amount depends on your package but will be from 20% paid up to 5 levels deep and paid each Monday.
What I Like About Buytex
Looks pretty slick and professional. It looks like they might actually be launching an exchange. I think many people will think it is legit….but it’s not. The exchange will never launch.
So, I guess that’s it. It “looks” legit!
What I Dislike About Buytex
If you are going to invest in a risky ponzi program, you want to be at least getting paid in a real crypto. BUX is not a real crypto. It will never be used outside the Buytex MLM, its value is $0USD.
I would much rather invest in something that paid out in a real crypto like BTC or Eth, but that’s just me.
The Real Deal
These types of token ponzis seem so old fashioned now. It will last around 6 months. The exchange will never amount to anything.
This gets an D grade.