Amzbit Review – Amazon & bitcoin, How it works, Register, Token, Coin
Amzbit provided a corporate address in Florida on their website. Burke Hedges and Sean Connors are cited as founders of Amzbit.
They were cited thus : “Burke Hedges and Sean Connors, the minds behind Amzbit, recognized that greed and corruption had taken over a lot of business and were looking for a positive way to help people earn money while also providing 100% transparency.
A chance meeting, that turned into a brainstorming session eventually gave rise to the idea of Amzbit.”
Burke Hedges is a former top earner in LifeVantage and following investigation into Hedges for misconduct, Hedges was terminated as a LifeVantage affiliate in August, 2011.
Amzbit has no retail-able products and services making affiliates only able to market Amzbit affiliate membership.
Amzbit compensation plan
Amazon Affiliate Commissions
Amzbit members and affiliates are encouraged to purchase products from Amazon using Amzbit’s affiliate referral links.
These sales generate an affiliate commission for Amzbit, which the company shares with affiliates and members.
Members receive 50% of the percentage of Amazon affiliate commissions Amzbit receives from their purchases. Affiliates receive 100% of Amazon affiliate commissions generated by their purchases.
Amzbit failed to disclose the percentage of Amazon affiliate commissions received which is shared by them.
Recruitment Commissions
Amzbit affiliates are paid a $25 direct commission on recruitment of Amzbit affiliates. Amzbit affiliate membership costs $100 every 30 days.
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Amzbit affiliates who cannot maintain the $100 membership only receive direct recruitment commissions and Amazon commissions and apart from Amazon purchases, all payments within Amzbit are made in bitcoin.
However, there are three ways Amzbit can shut down or crash
- Amazon will terminate their affiliate account, (not required for the MLM side of the business but a key component of Amzbit’s smoke and mirrors)
- A regulator (the FTC) will investigate and shut the company down for illegal pyramid recruitment and cash gifting or
- Affiliate recruitment will organically decline and Amzbit will inevitably collapse
Update – Amazon is yet to say anything about Amzbit. Many people are speculating that Amazon will pull out from any thing linking it to Amzbit but some others are saying Amzbit is here to say. Stay tuned to get this update once there is any progress.