BitConnect Review Is This A Good Opportunity Or A Big Scam?
In the last few weeks, BitConnect has been getting a lot of attention in the network marketing circles. With all this hype, I am sure you have seen some of your friends trying to sell BitConnect in your social media feeds. The first thing you need to know is that I am NOT an affiliate or distributor for BitConnect. I wanted to gather all the information about BitConnect in my BitConnect Review in order for you to make a decision about joining BitConnect. Is BitConnect legit or a scam? Will it be able to deliver on it’s promises to you? Let me show you in my unbiased review of BitConnect.
What Is BitConnect?
BitConnect is one of the latest MLM opportunities to be spotted out in the wild, and as such, I figured it would be a good idea to see just what this company is bringing to the table while its still young and fresh. Upon looking through BitConnect’s official website, I came away feeling rather disappointed and worried. There isn’t a drop of background information available on BitConnect’s site, and this means that there’s no mention of when the company was founded, who owns it, where it’s physically based out of, etc. This same theme is seen with the domain registration. The domain (bitconnect.co) was registered on February 9 of last year, but it’s impossible to tell who the owner is or where the registration took place in the world since it was done privately. All all of this together, and you get about as faceless of a company as the come with MLM opportunities.
What Are The BitConnect Products?
Similar to the background info situation, there’s not much to talk about with the “product line” of BitConnect’s either, I put quotes around product line because there isn’t any such one being offered by the company at all. There are no goods or services to be seen, and this means that nothing is being sold to retail customers. the only thing up for grabs is the affiliate membership, and this results in there being a total lack of any retail sales activity within the opportunity. Retail sales are absolutely key to any MLM opportunity, and the absence of them within a company, such as BitConnect, is usually a telltale sign that something bad is taking place that you likely don’t want to be a part of.
What About The Compensation Plan For BitConnect?
Moving things over to the compensation plan, affiliates can earn a “daily profit” through BitConnect by investing either bitcoin or USD into the company. That “daily profit” is the company’s way of describing an ROI, and it is paid out to members based on how much money they choose to invest into BitConnect. There are four main investment levels, and they include —
- Investment between $100 and $1000 provides access to a 40% monthly ROI that’s paid out for 299 days
- Investment between $1010 and $5000 provides access to a 40% monthly ROI that’s paid out for 239 days. Along with this, a bonus ROI of 23.9% is also offered.
- Investment between $5010 and $10,000 provides access to a 40% monthly ROI that’s paid out for 179 days. Along with this, a bonus ROI of 35.9% is also offered.
- Investment between $10,010 and $100,000 provides access to a 40% monthly ROI that’s paid out for 120 days. Along with this, a bonus ROI of 30% is also offered.
Referral commissions exist alongside the direct ROI payments, and this money is paid as a set percentage of funds invested by your downline of other affiliates within BitConnect. Commissions get handed out via a unilevel system, and level 1 of the setup (affiliates you’ve personally recruited) earns you the most at 7%. You can earn on a virtually endless number of levels, but the percentage that you earn decreases the deeper throughout the system that you go.
The Cost Of Joining BitConnect?
Although you can choose to join BitConnect for free, you’ll need to make an investment between $100 and $100,000 if you’d like to be active within the MLM opportunity at hand.
So, Is There A BitConnect Scam Going On?
Have you been hearing rumours that BitConnect is a scam? After reading this review, you might still be asking yourself if it is really legit. So – what is the truth? Is there really a BitConnect scam going on? If I am being perfectly honest, BitConnect isn’t entirely a scam. However, there are some things you need to watch out for.
My BitConnect Review And Conclusion!
Looking at BitConnect, it should be pretty clear that we’re dealing with nothing more than a Ponzi scheme. People join the company by investing money and then that money provides them with an ROI. However, the way in which BitConnect is going about this is especially fraudulent and confusing. You see, BitConnect Coin is a real form of cryptocurrency that anyone can mine for a shot at earning some extra income. You can download a wallet for the currency and start mining for a perfectly legit source of money, but this doesn’t have anything to do with the opportunity that’s being offered by BitConnect. BitConnect says that it’s able to generate the ROI through BitConnect Coins through its “trading bot and volatility software”, but as one might be able to guess, these claims are entirely fictional and only used to try and get more and more people to dump their hard-earned cash into the company. Plus, since BitConnect’s setup is using a variable ROI, the anonymous admin behind the whole thing will have more than enough time to gather up a healthy amount of cash and then sneak away with it before anyone has a clue of what’s going on. A drop in investment activity will eventually force BitConnect to collapse, and once it does, most everyone who joins will likely end up losing out once all is said and done. Being able to earn a monthly ROI of 40% might sound awfully enticing and hard to resist, but as the saying goes in the world of MLM, if it’s too good to be true, it likely isn’t. I really hope you have gained value from my BitConnect Review.
I think its definitely a scam.
i understand, from your point of view, but i want you to take the time and read my review, then feel free to decide.
Thanks.
nice one. Its important we call out these sort of things to protect the reputation of crypto in general. If the general public thinks crypto is about buying drugs and getting scammed then mass adoption will be hard!
That's a really valid point, thanks for the comment.