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To my knowledge, RicaBot operates three website domains: ricabot. world, ricabot.io, and ricabot.info. Most likely there are more.

On any of its websites, RicaBot omits to provide corporate ownership or executive information.

On January 9th, 2022, “Ricabot. world” was privately registered.

In March 2021, “Ricabit.io” was initially registered. On February 28, 2022, the private registration was last updated.

In September 2021, “Ricabot.info” was put on the Internet. The proprietor is identified as “Qin Yu Wong” of the Malaysian company ACI Business Consultancy.

This implies that RicaBot is connected to Malaysia.

Always consider joining and/or giving any money to an MLM firm very carefully if it is not transparent about who owns or runs it.

Products from RicaBot

The services or goods offered by RicaBot are not for sale.

The RicaBot affiliate membership itself is the only thing that affiliates may promote.

Plan of Compensation for RicaBot

Affiliates of RicaBot provide the trading bot of RicaBot control over a minimum of 500 tethers (USDT).

This is done with the hope of receiving a passive return from trading.

Keep in mind that RicaBot deducts 30% from any trading earnings.

The RicaBot MLM division compensates for the acquisition of affiliate investors.

Ranks for RicaBot Affiliates

The MLM reward structure for RicaBot has six affiliate ranks.

They are as follows, along with their respective qualifying standards:

R1: Find one affiliate to join

R2: Add three R1-ranked affiliates to your downline, bringing your total to twenty affiliates.

R3 – Recruit five affiliates, three of whom must be R2 or above, and have a total of one hundred affiliates in your downline.

R4 – bring on eight affiliates, three of whom must be R3 or above, and have a downline of 300 affiliates all together.

R5 – Recruit twelve affiliates, three of which must be R4 or above, and have a total of eight hundred affiliates in your downline.

R6: Build a downline of 1,530 affiliates and recruit 20 affiliates, three of whom must be R5 or above.

Employer commissions

20–70% of membership fees paid by personally recruited affiliates go to RicaBot affiliates.

Affiliates with an R1 ranking are paid a 20 percent commission on new hires.

Affiliates in the R2 category are paid a 30% commission on hires.

Affiliates with an R3 ranking make a 40% commission on new hires.

Affiliates in the R4 tier are paid a 50% commission on new hires.

Affiliates in the R5 tier are paid a 60 percent commission on hires.

Affiliates in the R6 position make a 70% commission on hires.

Community Recognition

Transaction fees are collected by RicaBot, which then utilizes them to support Community Rewards.

A portion of the transaction fees paid by affiliates who were personally recruited is used to fund community rewards.

Affiliates with an R1 ranking get a 20% Community Rewards rate.

Affiliates with an R2 ranking get a 30% Community Rewards rate.

Affiliates with an R3 ranking receive a 40% Community Rewards rate.

Affiliates with an R4 ranking get a 50% Community Rewards rate.

Affiliates with an R5 ranking receive a Community Rewards rate of 60%.

Affiliates with an R6 ranking receive a 70% Community Rewards rate.

Comparative Bonus

Affiliates with a RicaBot rank of R3 or above receive a 5 percent matching bonus.

Bonus Pool for the entire community

Ten percent of transaction fees are collected by RicaBot and are added to the Global Community Bonus Pool.

The R6 ranked RicaBot affiliates split the global community bonus pool.

Becoming a member of RicaBot RicaBot affiliate membership requires an annual subscription of 30 USDT.

The linked income opportunity demands a minimum extra investment of 500 USDT to be fully participated in.

Additionally, 10% of invested cash must be kept on hand by RicaBot affiliates to pay transaction costs.

RicaBot Summary

If handing over management of your Bitcoin to unknown individuals in Malaysia sounds foolish, it is.

RicaBot is a classic example of a trading technique where “lulz can’t touch our money.” It is controlled by an app that was created by unidentified developers.

To put it briefly, after signing up as a RicaBot affiliate and paying fees, you hand over ownership of your bitcoin to unknown individuals in Malaysia.

The only money made here, upfront, is from the fees you pay to RicaBot’s administrator (s). Additionally, recruiting commissions are paid out when new victims are drawn into the system.

The MLM portion of RicaBot functions as a pyramid scheme since there is neither advertising nor direct sales to retail customers.

One of two things happens when “lulz can’t touch our money” methods are long-term (or occasionally short-term);

either the admins make rigged transactions in their favor and drain accounts, or the trading bot implodes.

The initial generation of RicaBot looks to have already failed based on the marketing for “RicaBot 2.0.”

Investors are misinformed into thinking that RicaBot’s administrators can only trade with pre-allocated funds. That is accurate, however, affiliates do not own the bot. The administrators of RicaBot can alter the bot’s actions at any time.

These random, unverifiable traders that operate these scams change and disappear.

The truth about trading bot schemes is that administrators would just operate the bots themselves if they were any good. Instead, the bots are sold to duplicitous investors, who unavoidably end up losing money sooner or later.

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