BuddyX fails to supply possession or govt data on its web site.
BuddyX’s web site area (“buddy.io”), was privately registered on July twenty first, 2023.
It ought to be famous that previous to July 2023, BuddyX glided by BuddyCorp.
That iteration of the corporate seems to have collapsed, making BuddyX a reboot.
Additional analysis reveals BuddyX advertising movies citing Mahesh Sharma as founding father of the corporate.
As an alternative of acknowledging he owns BuddyX, Sharma cites himself as “head of promoting” on LinkedIn.
Regardless of claiming to have gotten concerned in MLM again in 2011, Sharma’s LinkedIn profile doesn’t go into specifics.
Circa 2017 Mahesh was selling Billionex World, a collapsed MLM crypto Ponzi scheme.
After Billionex World got here Digiex, a collapsed staking mannequin Ponzi constructed round Digix token.
Digiex seems to have collapsed circa 2020. What Sharma has been as much as since then is unclear.
On its web site, BuddyX claims its “head quarter and operation” is within the UAE.
This tracks with BuddyX citing its location as Dubai on FaceBook:
As a result of proliferation of scams and failure to implement securities fraud regulation, BehindMLM ranks Dubai because the MLM crime capital of the world.
On FaceBook Mahesh Sharma represents he’s primarily based out of Delhi, India. Whether or not he’s since fled to Dubai is unclear.
BehindMLM’s pointers for Dubai are:
- If somebody lives in Dubai and approaches you about an MLM alternative, they’re making an attempt to rip-off you.
- If an MLM firm is predicated out of or represents it has ties to Dubai, it’s a rip-off.
If you wish to know particularly how this is applicable to BuddyX, learn on for a full evaluation.
BuddyX’s Merchandise
BuddyX has no retailable services or products.
Associates are solely capable of market BuddyX affiliate membership itself.
BuddyX’s Compensation Plan
BuddyX associates put money into BDYX tokens.
Investments are made in $100 chunks, capped at 5 hundred $100 investments per BuddyX affiliate.
Be aware {that a} $1 per thirty days charge is charged on every $100 funding place.
Passive returns paid out on BDYX funding are decided by how lengthy an affiliate waits to withdraw:
- don’t withdraw for 30 days and obtain a 5% ROI
- don’t withdraw for 60 days and obtain a ten% ROI
- don’t withdraw for 120 days and obtain a 20% ROI
- don’t withdraw for 180 days and obtain a 30% ROI
Successfully BDYX token funding returns are paid at 5% a month.
Be aware that returns are paid in BDYX, which should be transformed for withdrawal via an inner change named BuddyDex.
Additionally notice that after 300% has been reached (combining each the month-to-month ROI and MLM commissions), reinvestment is required to proceed incomes.
Reinvestment should be equal to or better than the final funding.
The MLM facet of BuddyX pays on recruitment of affiliate traders.
BuddyX Affiliate Ranks
There are ten affiliate ranks inside BuddyX’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Govt – join as a BuddyX affiliate and recruit one affiliate
- Star Govt – recruit two associates
- Tremendous Star – recruit three associates
- Silver Star – recruit 4 associates and generate $10,000 in downline funding quantity
- Gold Star – recruit 5 associates and generate $20,000 in downline funding quantity
- Pearl Star – recruit six associates and generate $50,000 in downline funding quantity
- Platinum Star – recruit seven associates and generate $100,000 in downline funding quantity
- Sapphire Star – recruit eight associates and generate $200,000 in downline funding quantity
- Emerald Star – recruit 9 associates and generate $300,000 in downline funding quantity
- Diamond Star – recruit ten associates and generate $500,000 in downline funding quantity
Be aware that not more than 40% of required downline funding quantity can come from anyone recruitment leg.
Referral Commissions
BuddyX pays referral commissions on invested by personally recruited associates.
Referral fee charges are decided by what number of associates have been recruited:
- recruit one affiliate and obtain a 5% referral fee fee
- recruit two associates and obtain a 6% referral fee fee
- recruit three associates and obtain a 7% referral fee fee
- recruit 4 associates and obtain an 8% referral fee fee
- recruit 5 associates and obtain a 9% referral fee fee
- recruit six associates and obtain a ten% referral fee fee
Residual Commissions
BuddyX pays referral commissions by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel staff, with each personally recruited affiliate positioned instantly beneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel staff.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
BuddyX caps payable unilevel staff ranges at ten.
Referral commissions are paid out as a proportion of latest funding throughout these ten ranges primarily based on rank:
- Executives earn 5% to 10% on degree 1 (paid as referral commissions, see “Referral Commissions” above)
- Star Executives earn 5% to 10% on degree 1 and 4% on degree 2
- Tremendous Stars earn 5% to 10% on degree 1, 4% on degree 2 and three% on degree 3
- Silver Stars earn 5% to 10 % on degree 1, 4% on degree 2, 3% on degree 3 and a couple of% on degree 4
- Gold Stars earn 5% to 10 % on degree 1, 4% on degree 2, 3% on degree 3, 2% on degree 4 and 1% on degree 5
- Pearl Stars earn 5% to 10 % on degree 1, 4% on degree 2, 3% on degree 3, 2% on degree 4, 1% on degree 5 and 0.5% on degree 6
- Platinum Stars earn 5% to 10 % on degree 1, 4% on degree 2, 3% on degree 3, 2% on degree 4, 1% on degree 5 and 0.5% on ranges 6 and seven
- Sapphire Stars earn 5% to 10 % on degree 1, 4% on degree 2, 3% on degree 3, 2% on degree 4, 1% on degree 5 and 0.5% on ranges 6 to eight
- Emerald Stars earn 5% to 10 % on degree 1, 4% on degree 2, 3% on degree 3, 2% on degree 4, 1% on degree 5 and 0.5% on ranges 6 to 9
- Diamond Stars earn 5% to 10 % on degree 1, 4% on degree 2, 3% on degree 3, 2% on degree 4, 1% on degree 5, 0.5% on ranges 6 to 9 and 1% on 10
Matching Bonus
BuddyX pays a Matching Bonus on downline earnings down three ranges of recruitment (unilevel):
- degree 1 (personally recruited associates) – 10% match
- ranges 2 and three – 5% match
Quick Begin Bonus
If a BuddyX affiliate recruits seven affiliate traders inside their first ten days, they obtain 50% of their very own preliminary funding again.
Be aware that to rely in direction of the Quick Begin Bonus, recruited associates will need to have invested no less than the quantity of the recruiting affiliate’s preliminary funding.
Bumper Bonanza
If a BuddyX affiliate recruits three associates who every qualify for the Quick Begin Bonus, all inside 30 days of the recruiting affiliate signing up, they obtain 100% of their preliminary funding again.
As soon as once more to rely in direction of the Bumper Bonanza, recruited associates will need to have invested no less than the quantity of the recruiting affiliate’s preliminary funding.
Rank Bonus
Regardless of the title, BuddyX’s Rank Bonus has nothing to do with affiliate rank.
As an alternative the Rank Bonus is a downline funding bonus, paid out at numerous quantity milestones:
- generate $500,000 in downline funding quantity and obtain a 2% Rank Bonus
- generate $1,000,000 in downline funding quantity and obtain a 3% Rank Bonus
- generate $2,000,000 in downline funding quantity and obtain a 5% Rank Bonus
Be aware that not more than 40% of required funding quantity can come from anyone recruitment leg.
Efficiency Bonus
The Efficiency Bonus rewards BuddyX associates for producing set downline funding quantities.
- generate $50,000 in downline funding quantity and obtain $500 a month for 10 months
- generate $100,000 in downline funding quantity and obtain $1200 a month for 10 months
- generate $200,000 in downline funding quantity and obtain $2500 a month for 10 months
- generate $500,000 in downline funding quantity and obtain $6000 a month for ten months
- generate $1,200,000 in downline funding quantity and obtain $15,000 a month for ten months
- generate $3,500,000 in downline funding quantity and obtain $50,000 a month for ten months
Be aware that with the intention to proceed receiving the month-to-month bonus, 10% of the unique required quantity is required to be maintained every month.
E.g. you generate $200,000 and qualify for $2500 a month for ten months. After qualifying, you have to proceed to generate no less than $20,000 in downline funding quantity to obtain the $2500 every month.
Avengers Rewards
The Avengers Reward is one more bonus for producing downline funding inside a set time frame.
- generate $10,000 in downline funding inside 30 days of signing up and obtain $1000
- generate $25,000 in downline funding inside 60 days of signing up and obtain $2200
- generate $75,000 in downline funding quantity inside 90 days of signing up and obtain $5000
- generate $250,000 in downline funding quantity inside 150 days of signing up and obtain $15,000
- generate $500,000 in downline funding quantity inside 210 days of signing up and obtain $25,000
- generate $1,500,000 in downline funding quantity inside 300 days of signing up and obtain $50,000
- generate $3,500,000 in downline funding quantity inside 420 days of signing up and obtain $120,000
- generate $7,500,000 in downline funding quantity inside 600 days of signing up and obtain $300,000
- generate $20,000,000 in downline funding quantity inside 840 days of signing up and obtain $700,000
- generate $50,000,000 in downline funding quantity inside 1100 days of signing up and obtain $2,000,000
- generate $25,000,000 in downline funding quantity inside 2000 days of signing up and obtain $10,000,000
Becoming a member of BuddyX
BuddyX affiliate membership is free.
Full participation within the connected earnings alternative requires a minimal $100 funding.
BuddyX Conclusion
BuddyX is an easy MLM crypto Ponzi scheme.
BuddyX associates put money into BDYX tokens on the promise of a 300% ROI. Recruitment of latest traders hastens the ROI, after which reinvestment is required. This obligatory reinvestment retains the scaming going a bit longer.
Connected to BuddyX’s fraudulent funding scheme is a bunch of irrelevant advertising.
Now we have BuddyX Meet, a Zoom clone:
Buddy Video games:
And Buddy Esim:
These providing are pseudo-compliance and don’t legitimize BuddyX’s central 300% ROI Ponzi scheme.
On the regulatory entrance, SimilarWeb tracked November 2023 high sources of site visitors to BuddX’s web site as India (63%) and the US (11%).
BuddyX fails to supply proof it has registered with the Securities and Trade Board of India. A search of the SEC’s public Edgar database reveals neither BuddyX or Mahesh Sharma are registered within the US.
Because of this at a minimal, BuddyX is committing securities fraud in its two largest investor markets.
Because it stands, the one verifiable income getting into BuddyX is new funding.
By way of BuddyDEX, earlier BuddyX traders money out subsequently invested funds. This move of cash is what makes BuddyX a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
This may starve BuddyX of ROI income, ultimately prompting a collapse.
The maths behind Ponzi schemes ensures that after they collapse, nearly all of members lose cash.
One last notice is BDYX not being publicly tradeable. Along with being nugatory exterior of BDYX, be careful for a public change BDYX dump when or as BuddyX inevitably collapses.