GoArbit, a company that promised daily returns of 1%, has ceased operations.
Their website is no longer active, and any attempts to contact the company have been unsuccessful.
This serves as a stark reminder that companies offering such exorbitant returns are often Ponzi schemes, which are unsustainable and eventually collapse.
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When you stumble upon a platform you’re curious about, here’s what you can do:
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- What is GoArbit?
- Who is Behind the GoArbit?
- How to Join the Company?
- How to Make Money with GoArbit?
- GoArbit Red Flags
- GoArbit Reviews
Please note, that I am not a member or an affiliate of GoArbit.
This review is based on research and online information in the public domain.
Any recommendations and conclusions are only opinions and may not apply to all persons or situations.
Price to Join: 50$
GoArbit promised big money online, but it turned out to be a total scam.
The leaders were sketchy, the business plan didn’t add up, and there was zero proof of actually making money.
Long story short, it collapsed, leaving people in a mess.
Moral of the story: be careful with these get-rich-quick schemes online. Always check the facts before diving in.
What is GoArbit?
GoArbit was an MLM (Multi-Level Marketing) company that claimed to generate external ROI revenue through cryptocurrency arbitrage, mining, and trading.
The thing is though, there was no evidence to support these claims, and the company’s business model was unsustainable.
GoArbit Website Information
In January 2023, GoArbit’s website witnessed a decline from its peak of 4.5 million monthly visits in November 2022 during the reboot launch.
Notably, in November 2023, the website had no visitors.
It’s clear the platform is closed because you can easily see this by checking the organic traffic on the website.
Who is Behind the GoArbit?
Meet Maximo Martinez, the guy in charge of GoArbit. But here’s the catch – we don’t know much about him.
When we tried to dig up info, it hit a dead end.
What we do know is that he led GoArbit into a Ponzi scheme that collapsed.
To make things even more interesting, he apparently hightailed it to Dubai just before the whole thing fell apart.
As of now, he’s still hiding out there.
So, Maximo Martinez remains a bit of a mystery, leaving us with more questions than answers.
How to Join the Company?
GoArbit affiliate membership was tied to a minimum $50 investment. This means that affiliates had to risk their own money to join the scheme.
Identifying Ponzi Schemes
If you are ever considering joining an MLM company, it is important to do your research and make sure that the company is legitimate.
There are many red flags that can indicate that a company is a Ponzi scheme, such as:
- Promises of high returns with little or no risk
- A lack of transparency about the company’s operations
- A focus on recruiting new members rather than selling products or services
If you see any of these red flags, you should be very wary of the company.
It is always better to err on the side of caution and avoid investing in any company that seems too good to be true.
How to Make Money with GoArbit?
GoArbit’s deal was a classic Ponzi scheme – they promised daily returns, from 0.5% to 1.5%, on what you put in.
Sounds great, right?
Here’s the catch: those returns weren’t from any real business but from the money pumped in by new members.
In simpler terms, it was a cycle of using new investments to pay off existing ones.
GoArbit Compensation Plan
|Investment Tier||Investment Range||Daily Return||Additional Info|
|Go Tier||$50 – $50,000||0.5%|
|Silver Tier||2.5% over Go Tier||1%||Requires additional investment|
|Gold Tier||5% over Go Tier||1.5%||Requires additional investment|
- Go Tier: This is the basic level.
You can start playing with just $50, and you might earn a daily return of 0.5% on the money you put in. It’s like the beginner level in the game.
- Silver Tier: If you want a bit more, you can go for Silver.
But here’s the catch: you need to invest 2.5% more on top of what you would for Go. In return, you could get a daily return of 1%, which is a bit better than the Go level.
- Gold Tier: This is the premium level.
To play at Gold, you need to invest 5% more than the Go Tier. In exchange, you could get a daily return of 1.5%, which is the highest among the three levels.
So, it’s like choosing the level of risk and reward in the investment game. The higher the level, the more you might earn, but it also means putting in more money.
Despite the enticing promises of returns, GoArbit faced a harsh reality.
The company has been shut down, and the promises of daily returns are now just a memory.
GoArbit Red Flags
Lack of Transparency
- No clear information about the company’s ownership or leadership.
- The founder’s background, Maximo Martinez, remains obscure.
Promises of Unrealistic Returns
- Promised daily returns range from 0.5% to 1.5%, which is often unrealistic in legitimate investments.
Ponzi Scheme Characteristics
- Reliance on new investments to pay existing affiliates is a classic characteristic of Ponzi schemes.
- Emphasis on recruitment rather than tangible products or services.
Warning from Regulatory Authorities
- Securities fraud alert from Argentina’s CNV, urging the termination of investment invitations in Argentina. (source: International Organization of Securities Commissions)
Declining Website Traffic
- Significant decline in website traffic, often indicative of waning interest and potential platform issues.
No Contact Information
- Lack of a “Contact Us” page or other essential sections on the website, raising concerns about transparency and accessibility
Let me share with you a summary of reviews that people leave on user-generated content sites like Trustpilot.
Withdrawal Delays and Reductions
Users report significant delays in withdrawal processing, and some claim to receive only 50% of the requested amount due to software issues.
Pyramid Scheme Allegations
Concerns were raised about GoArbit being identified as a pyramid Ponzi scheme, particularly in South America, with users cautioning against involvement.
Customer Service Failures
Multiple users express frustration over unresponsive customer service, including lost funds and unanswered tickets, contributing to a lack of trust
Dubious Business Practices and Exit Scam Suspicions
Reports of GoArbit’s founder, Maximo Martinez, relocating to Dubai, raising suspicions of potential platform collapse and exit scam strategies.
Platform Changes and Earning Decline
Complaints about significant alterations to the platform, withdrawal difficulties, and reduced earnings, led to dissatisfaction and warnings to potential investors.
As you can see, the majority (if not all) of GoArbit reviewers agree with this article.
In the realm of cryptocurrency platforms offering lucrative returns, the cautionary tales of GoArbit echo loud and clear.
The highlighted reviews showcase a pattern of withdrawal issues, pyramid scheme concerns, and dubious business practices, underscoring the importance of due diligence.
For anyone considering similar investments, this serves as a stark reminder to be vigilant.
Always scrutinize platforms for red flags, such as withdrawal delays, customer service failures, and suspicious business operations.
In the world of high-risk investments, a thorough examination could be the line between financial security and potential loss.