There is no information on the GiftoBit website indicating who owns or runs the business.
The GiftoBit website domain (“giftobit.com”) was registered on the 20th of June 2016, however the domain registration is set to private.
Update 11th September 2016 –
After this review was published, the GiftoBit website was updated to reflect it is owned by Carlene and Daniel Spiteri:
Giftobit Foundation was founded in July 2016 by Carlene Spiteri and Daniel Spiteri, a mother and son team.
According to Carlene Spiteri’s bio on Coinxion, a cryptocurrency crowdfunding platform that appears to have flopped, she’s worked for ‘
two online global digital payment systems
‘ that were consecutively shut down by government regulators in 2008 and 2012.
Daniel Spiteri identifies himself as an “online gamer and online trader” who “manage(s) a number of online chat rooms”.
Carlene Spiteri was a prominent GCR Marketing affiliate.
GCR Marketing
solicited funds from affiliates in exchange for the worthless GCR Coin cryptocurrency.
GCR Marketing
collapsed
in early 2016 and was shut down amidst
separate FBI and SEC investigations
.
/end update
Read on for a full review of the GiftoBit MLM opportunity.
The GiftoBit Product Line
GiftoBit has no retailable products or services, with affiliates only able to market GiftoBit affiliate membership itself.
Once signed up, GiftoBit affiliates can purchase 0.05 BTC matrix positions to participate in the attached MLM opportunity.
Bundled with each position purchase is access to an “Online Education Program” GiftoBit claims will ‘
teach you about bitcoin and other cryptocurrencies
‘.
The GiftoBit Compensation Plan
The GiftoBit compensation plan sees affiliates purchase a 0.05 BTC position in a two-tier 5×3 matrix cycler.
An affiliate can also receive a position by recruiting five affiliates who each purchase at least one 0.05 BTC matrix position.
Every five personally recruited affiliates generates a new 0.05 BTC matrix position.
A 5×3 matrix places an affiliate at the top of a matrix, with five positions directly under them:
These initial five positions form the first level of the matrix, with the second level generated by splitting the five positions into another five positions each (25 positions).
The third and final level of the matrix is generated by splitting each level 2 position into another five positions each (125 positions).
A complete 5×3 matrix houses 155 positions, with positions filled via direct and indirect recruitment of affiliates.
Commissions are paid as matrix positions are filled in both tiers of the matrix cycler as follows:
Plan A Matrix (tier 1)
level 1 (positions cost 0.05 BTC) – receive 0.05 BTC from five affiliates
level 2 (0.1 BTC fee) – receive 0.1 BTC from twenty-five affiliates and receive six new level 1 positions
level 3 (0.2 BTC fee) – receive 0.2 BTC from one hundred and twenty-five affiliates
Plan B (tier 2)
level 1 (1 BTC fee) – receive 0.5 BTC from five affiliat
🤖 Quick Answer
Who are the owners of GiftoBit?GiftoBit was founded in July 2016 by Carlene Spiteri and Daniel Spiteri, a mother and son team. Initially, this information was not disclosed on the website, but was added after September 2016. Carlene Spiteri has previous experience with digital payment systems.
When was the GiftoBit domain registered?
The domain giftobit.com was registered on June 20, 2016. However, the domain registration details were set to private, preventing public access to ownership information at the time of initial registration.
What is Carlene Spiteri's background?
According to her biography on Coinxion, a cryptocurrency crowdfunding platform, Carlene Spiteri previously worked for two online global digital payment systems that were consecutively shut down by government regulators in 2008
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