X-Binary promotes itself as an investment services company that offers opportunity to make up to 3% daily return on investment (ROI) by investing in the cryptocurrency market. X-Binary also offers an affiliate recruitment program to maximize investors’ returns.
What Is X-Binary?
X-Binary is supposedly based in the United Kingdom, according to its incorporation documents.
Companies House, the British institution that keeps records of businesses established in the UK, has files that indicate the firm was founded in September of 2016, lists the company’s founder, one Ellis Dunn, and provides a residential address in London as the company’s location.
Sadly there’s no way to verify any of this, as there’s no record of any “Ellis Dunn” anywhere else besides in Companies House records.
Considering the low requirements of registering a company of around £20 for the registration fee, there’s little stopping someone from falsifying records and using a temporary mailing address to establish the company.
Likewise there’s no information from the X-Binary’s website that can help us verify site or company ownership. The site was registered anonymously in September of 2016 through a private domain registration service.
The only clue as to where X-Binary is located or who’s operating it comes from its Alexa site ranking. More than half of the website’s traffic comes from Japan, strongly indicating it may be located in that country.
Combined with the sometimes questionable and broken English of the site’s content, it seems a fair guess that it’s administrated by someone who is not a native English speaker.
X-Binary Product
There are no products available for sale through X-Binary. While it claims to be an investment services company, the only activity “investors” can engage in is buying different tier memberships and then marketing these memberships to others.
There are three tiers of membership, each with slightly differing terms.
Becoming an XB-Trial member requires a minimum investment of $10 to receive a 3% daily ROI for 60 days. XB-Pro members have to invest a minimum of $100 to receive a 3% daily ROI for 80 days, XB-Master members need to invest a minimum of $1000 to receive a 3% daily ROI for 100 days.
X-Binary supposedly takes these investment funds and uses them to trade on cryptocurrency exchanges to provide investors their daily ROI.
X-Binary Opportunity
In addition to earning 3% daily ROI on deposits, investors with X-Binary can also recruit affiliates in order to earn commission-based income.
Existing investors can begin referring new investors as the top of a a 10-level deep uni-level affiliate matrix. Members receive 10% commissions on investments made from personally recruited affiliates, while affiliates on levels 2 through 5 provide 1% commission rates.
Affiliate on levels 6 through 10 provide 0.5% commission rates. There’s no limit as to how many affiliates you can have on any level.
X-Binary Verdict
X-Binary supposedly generates money for its investors through playing the cryptocurrency markets.
However, there’s no proof that this is what the company actually does, as there’s no actual evidence of X-Binary making trades on crypto exchanges, what digital currencies it trades, or even which exchanges it trades upon.
This decided lack of transparency is a major red flag. So too is the fact that there’s no way to verify the identity of the name given to Companies House as a registrant. This makes investing in X-Binary a bad idea, just on the face of it.
And then there’s the attached affiliate program. If X-Binary can indeed provide 3% daily ROI on investments, why would it need an affiliate program at all?
The answer is that there is no investment opportunity here. X-Binary simply takes people’s money and shuffles it around, paying off existing investors with funds gathered by new ones.
The cycle continues, deeper and deeper, until recruitment dries up. At that point, the investors at the top suddenly see their ROI not materializing, as there’s not enough money in the system to pay everyone out.
Long story short: we’d be surprised to see X-Binary last longer than a few more months. Once the company reaches critical mass in terms of recruitment, the whole system will come crashing down in a hurry.
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