Lately, this business opportunity has been getting a lot of hype on the internet.
People are hyping BitConnect all over the place, including a lot of social media.
Has someone already pitched BitConnect to you?
The first thing I want to tell you is that I am NOT promoting this business in any way.
I have compiled all the facts about it in my BitConnect Review so you can discover the truth for yourself!
Have you heard that BitConnect is a scam?
That BitConnect can’t deliver on it’s promises?
I will tell you all about it in my Review of BitConnect.
Let’s get started.
Exactly what is BitConnect?
In the case of BitConnect, we’re dealing with about as faceless of a company as they come nowadays.
The appearance of the website is good enough, but it’s lacking horribly when it comes to the content that’s present on it.
I did as much looking and snooping as I possibly could throughout BitConnect’s entire site, and not once did I come across any information that suggested who the owner is, when the company was launched, or where it’s currently based out of in the world.
Furthermore, the domain name registration offers a very similar lack of any info.
It’s easy to see that the domain was first acquired back on February 9, 2016, but since the domain was registered under a private state, there’s no way of knowing where this took place or who the owner is.
Are There Any BitConnect Products?
Taking a look through the product line being offered by BitConnect, there isn’t much of anything to see at all.
Right along the lines of pretty much every other scheme/scam that’s being created in the MLM world today, BitConnected doesn’t have anything to sell or market to retail customers in the slightest.
The only thing available to “purchase” is the affiliate membership itself, and this isn’t technically a retail product.
As such, you won’t find any retail sales activity within BitConnect.
Can You Tell Me About The Compensation Plan For BitConnect?
The main advertising point for BitConnect is some sort of “daily profit” that affiliates are able to gain access to, and from what I can tell, this “profit” is paid out as an ROI.
Affiliates invest bitcoin into BitConnect, and this bitcoin is then converted into BitConnect Coins that have already been mined for them. Once affiliates have these Coins, they are then able to earn a daily ROI that’s being offered to them.
The available investment levels and their respective ROIs is as follows —
Affiliates who invest between $100 and $1000 are eligible to earn an ROI of 40% every month for a total of 299 days
Affiliates who invest between $1001 and $5000 are eligible to earn an ROI of 40% every month for a total of 239 days (plus a bonus ROI rate of 23.9%)
Affiliates who invest between $5001 and $10,000 are eligible to earn an ROI of 40% every month for a total of 179 days (plus a bonus ROI rate of 35.9%)
Affiliates who invest between $10,001 and $100,000 are eligible to earn an ROI of 40% every month for a total of 120 days (plus a bonus ROI rate of 30%)
To go along with the direct ROI rates being paid out to affiliates, they are also able to earn income through referral commission rates. This money is paid out to members via unilevel system, and within this setup, money is paid out to members based on money being invested by their downline.
Referral rates start out as 7% for affiliates that you personally recruit into BitConnect, and they’re offered throughout Level 11 and beyond.
What Is The Fee To Join BitConnect?
Joining BitConnect is free to start out with, but you’ll need to invest a minimum of $100 in bitcoin if you’d like to participate in the income opportunity that’s being offered here.
While $100 is the smallest amount of money that you can invest into BitConnect, you can increase that amount up to as much as $100,000 if you’d really like to maximize your income potential.
Is BitConnect Truly A Scam?
If you’ve been doing your research on BitConnect, you may have heard from some people that it’s a scam, and from other’s that it’s totally legit.
After reading my review, you might not be sure for yourself.
So, what’s really going on here?
Is BitConnect a scam, or can you make a legit business with it?
To be honest, I am not sure BitConnect is a complete scam.
However, I did find a few things to be aware of before you join, which will help you to be successful if you join.
Also, see below for help with making money online.
Read Here For My BitConnect Conclusion!
If BitConnect Coin sounds familiar to you, that’s because its a form of cryptocurrency that’s actually traceable on the public market. You can easily generate your now BitConnect Coin wallet and start mining for the coins as an extra way to start earning some money, but the BitConnect MLM opportunity doesn’t really have anything to do with this at all.
People who join BitConnect invest real money (either bitcoin or USD) and then have it converted into BitConnect Coins. The Coins then get parked inside of the BitConnect company for either 120 ore 299 days, and this then creates for an ROI.
The 40% per month ROI that’s being offered to affiliates is supposedly generated through the company’s “bitconnect trading bot and volatility software”, but there’s of course no information anywhere to prove that this software actually exists or is doing anything at all.
At the end of the day, the only money being generated within BitConnect is coming from affiliate investments.
Newly invested funds are turned around and recycled to pay off ROIs owed to existing members, and as such, BitConnect turns into a Ponzi scheme.
What’s even worse, the variable nature of the ROI being offered will create for an extremely slow collapse process for the opportunity. This means that the anonymous admin will have loads of time to make a decent chunk of chain and then run off without anyone being the wiser, and at the same time, most all affiliates will be left to lose out.