RicaBot runs three web site domains that I’m conscious of; ricabot.world, ricabot.io and ricabot.data. There are in all probability extra.
RicaBot fails to supply firm possession or government data on any of its web sites.
“Ricabot.world” was privately registered on January ninth, 2022.
“Ricabit.io” was first registered in March 2021. The personal registration was final up to date on February twenty eighth, 2022.
“Ricabot.data” was registered in September 2021. “Qin Yu Wong” of ACI Enterprise Consultancy, a Malaysian agency, is listed because the proprietor.
This implies RicaBot has ties to Malaysia.
As at all times, if an MLM firm is just not overtly upfront about who’s operating or owns it, assume lengthy and exhausting about becoming a member of and/or handing over any cash.
RicaBot’s Merchandise
RicaBot has no retailable services or products.
Associates are solely in a position to market RicaBot affiliate membership itself.
RicaBot’s Compensation Plan
RicaBot associates place a minimal 500 tether (USDT) beneath management of RicaBot’s buying and selling bot.
That is carried out on the expectation of a passive return derived via buying and selling.
Notice that RicaBot prices a 30% payment on any buying and selling earnings.
The MLM aspect of RicaBot pays on recruitment of affiliate buyers.
RicaBot Affiliate Ranks
There are six affiliate ranks inside RicaBot’s MLM compensation plan.
Together with their respective qualification standards, they’re as follows:
- R1 – recruit one affiliate
- R2 – recruit three R1 ranked associates and have a complete downline of twenty associates
- R3 – recruit 5 associates (three should be R2 or larger), and have a complete downline of 100 associates
- R4 – recruit eight associates (three should be R3 or larger), and have a complete downline of 300 associates
- R5 – recruit twelve associates (three should be R4 or larger), and have a complete downline of eight hundred associates
- R6 – recruit twenty associates (three should be R5 or larger), and have a complete downline of 1 thousand 5 hundred associates
Recruitment Commissions
RicaBot associates earn 20% to 70% of membership charges paid by personally recruited associates.
- R1 ranked associates earn a 20% recruitment fee fee
- R2 ranked associates earn a 30% recruitment fee fee
- R3 ranked associates earn a 40% recruitment fee fee
- R4 ranked associates earn a 50% recruitment fee fee
- R5 ranked associates earn a 60% recruitment fee fee
- R6 ranked associates earn a 70% recruitment fee fee
Group Rewards
RicaBot takes transaction charges and makes use of them to fund Group Rewards.
Group Rewards are paid as a proportion of transaction charges paid by personally recruited associates.
- R1 ranked associates earn a 20% Group Rewards fee
- R2 ranked associates earn a 30% Group Rewards fee
- R3 ranked associates earn a 40% Group Rewards fee
- R4 ranked associates earn a 50% Group Rewards fee
- R5 ranked associates earn a 60% Group Rewards fee
- R6 ranked associates earn a 70% Group Rewards fee
Matching Bonus
R3 and better ranked RicaBot associates earn a 5% Matching Bonus.
World Group Bonus Pool
RicaBot takes 10% of transaction charges collected and places it into the World Group Bonus Pool.
The World Group Bonus Pool is shared between R6 ranked RicaBot associates.
Becoming a member of RicaBot
RicaBot affiliate membership is tied to a 30 USDT annual subscription.
Full participation within the hooked up earnings alternative requires a further minimal 500 USDT funding.
RicaBot associates are additionally required to take care of 10% of invested funds to cowl transaction charges.
RicaBot Conclusion
If giving management of your cryptocurrency to randoms in Malaysia appears like a dumb thought, it’s as a result of it’s.
RicaBot is your typical “lulz can’t contact our cash” buying and selling scheme. It’s operated via an app, once more developed by individuals unknown.
In a nutshell you join as a RicaBot affiliate, pay charges after which give management of your cryptocurrency to randoms in Malaysia.
Upfront the one cash made right here is the charges you pay to RicaBot’s admin(s). That and recruitment commissions when new suckers are roped into the scheme.
With nothing marketed or bought to retail clients, the MLM aspect of RicaBot operates as a pyramid scheme.
Lengthy-term (or typically short-term) “lulz can’t contact our cash” schemes finish in one in every of two methods;
- the buying and selling bot implodes; or
- the admins run rigged trades of their favor and drain accounts.
Primarily based on “RicaBot 2.0” advertising, the primary iteration of RicaBot seems to have already collapsed.
Buyers are led to imagine RicaBot’s admins can solely commerce with allotted funds. Whereas that’s true, associates don’t personal the bot. RicaBot’s admins do, and so they can change what the bot does on a whim.
These schemes, run by randoms with no verifiable buying and selling historical past, come and go.
The fact behind buying and selling bot schemes is that if the bots have been price a rattling, admins would simply run them themselves. As an alternative the bots are flogged to gullible buyers, who in the end inevitably wind up taking a loss.
