BuddyX fails to provide ownership or executive information on its website.
BuddyX’s website domain (“buddy.io”), was privately registered on July 21st, 2023.
It should be noted that prior to July 2023, BuddyX went by BuddyCorp.
That iteration of the company appears to have collapsed, making BuddyX a reboot.
Further research reveals BuddyX marketing videos citing Mahesh Sharma as founder of the company.
Instead of acknowledging he owns BuddyX, Sharma cites himself as “head of marketing” on LinkedIn.
Despite claiming to have gotten involved in MLM back in 2011, Sharma’s LinkedIn profile doesn’t go into specifics.
Circa 2017 Mahesh was promoting Billionex World, a collapsed MLM crypto Ponzi scheme.
After Billionex World came Digiex, a collapsed staking model Ponzi built around Digix token.
Digiex appears to have collapsed circa 2020. What Sharma has been up to since then is unclear.
On its website, BuddyX claims its “head quarter and operation” is in the UAE.
This tracks with BuddyX citing its location as Dubai on FaceBook:
Due to the proliferation of scams and failure to enforce securities fraud regulation, BehindMLM ranks Dubai as the
MLM crime capital of the world
.
On FaceBook Mahesh Sharma represents he is based out of Delhi, India. Whether he’s since fled to Dubai is unclear.
BehindMLM’s guidelines for Dubai are:
If someone lives in Dubai and approaches you about an MLM opportunity, they’re trying to scam you.
If an MLM company is based out of or represents it has ties to Dubai, it’s a scam.
If you want to know specifically how this applies to BuddyX, read on for a full review.
BuddyX’s Products
BuddyX has no retailable products or services.
Affiliates are only able to market BuddyX affiliate membership itself.
BuddyX’s Compensation Plan
BuddyX affiliates invest in BDYX tokens.
Investments are made in $100 chunks, capped at five hundred $100 investments per BuddyX affiliate.
Note that a $1 per month fee is charged on each $100 investment position.
Passive returns paid out on BDYX investment are determined by how long an affiliate waits to withdraw:
don’t withdraw for 30 days and receive a 5% ROI
don’t withdraw for 60 days and receive a 10% ROI
don’t withdraw for 120 days and receive a 20% ROI
don’t withdraw for 180 days and receive a 30% ROI
Effectively BDYX token investment returns are paid at 5% a month.
Note that returns are paid in BDYX, which must be converted for withdrawal through an internal exchange named BuddyDex.
Also note that once 300% has been reached (combining both the monthly ROI and MLM commissions), reinvestment is required to continue earning.
Reinvestment must be equal to or greater than the last investment.
The MLM side of BuddyX pays on recruitment of affiliate investors.
BuddyX Affiliate Ranks
There are ten affiliate ranks within BuddyX’s compensation plan.
Along with their respective qualification criteria, they are as follows:
Executive – sign up as a BuddyX affiliate and recruit
🤖 Quick Answer
What is BuddyX and its connection to the BDYX token?BuddyX is a cryptocurrency platform that rebranded from BuddyCorp in 2023, with its domain registered July 21st that year. The company promotes the BDYX token and has been associated with marketing claiming Mahesh Sharma as founder, though he identifies as head of marketing on LinkedIn.
Who is Mahesh Sharma and what is his background in cryptocurrency?
Mahesh Sharma is identified as BuddyX's founder in marketing materials but claims the title of head of marketing on LinkedIn. His involvement in cryptocurrency MLM schemes dates to 2011, including promoting Billionex World and Digiex, both collapsed Ponzi schemes involving cryptocurrency staking models.
Why does BuddyX lack transparency regarding ownership and leadership?
BuddyX's official website
🔗 Related Articles
- Linxella Review: NextGen Academy scammers launch own Ponzi
- PGI Global reboots Ponzi, Helen L Graham promoted to CEO
- My Micro Profits Review: 0.13% hourly ROI Ponzi scheme
- CashFX Group sets up BullnBear Pay to pay withdrawals
- Jan Gregory to keep scamming consumers after BitHarvest