20K BTC Review – Legit Company or Just Another Scam? Find Out Here…
Welcome to my 20K BTC Review!
Are you here because you are finally ready to join an MLM company and want to know where to start?
I’ll let you in a little secret…
Only research will help you determine if an online opportunity is a worthy choice for investment.
I know there are many online schemes out there that are camouflaged as good money-making opportunities, and it can be hard to figure out which ones are good and which ones are a total waste of time.
Before making your decision to join, you need really good info on the company.
In this review on 20K BTC, I will help you familiarize yourself with the company history, learn about the company’s products, and the company’s compensation plan you can expect.
Let’s start here today together!!
20K BTC Review – The Company
When you take a visit to the company’s online website, there is no available info presented on the owner or the operator of the company.
After a little digging around, I was able to find that the 20K BTC website domain was registered privately as “20kbtc.com” on the 4th of November in 2107.
And when I did a bit more research, I was able to find the owner of the company through marketing material, which named Richard D Raymond as the owner.
So, here is some background info on the real Richard D Raymond:
Firm: Richard Raymond, Attorney at Law
Firm Size: Solo
Occupation: Private Law Practice
Practice Areas: Business, Consumer, Litigation: Personal Injury, Real Estate, Taxation, Wills-Trusts-Probate
Back in 2009, this attorney was campaigning for the position of Fort Country District Attorney.
So, it seems we have a lawyer operating this MLM Bitcoin business opportunity.
20K BTC Reviews – The Products
20K BTC doesn’t have any services or products for its affiliates to sell to others or purchase for self use.
But anyone wanting to sign up as an affiliate with 20K BTC can market the company affiliate membership.
The 20K BTC Compensation Plan
Affiliates looking to take part in the company compensation plan are required to sign up and invest into the company.
Company affiliates are to pay a yearly fee of $299 in Bitcoin.
There is a commission offered to affiliates by the company when they sponsor new affiliates whom also sign up and invest with the company.
The company uses a binary compensation model to pay affiliates for sponsoring new affiliates.
The binary compensation model puts an affiliate onto the top of a binary team, where the next level is divided into a left and right side.
The 1st level of a binary team holds two positions and the 2nd level is made by dividing the first two positions into a further two positions each, creating 4 positions in total on level 2.
Any additional levels of the binary team are made as needed, and each new level will hold 2X as many positions as the level before it.
The binary team positions are filled through direct and indirect sponsorship of new affiliates.
NOTE: The company does not limit the growth of how deep a binary team may grow to.
The company says that “an Affiliate will earn about $100 in bitcoin” when sponsorship on the left side is matched with sponsorship on the right side of the binary team.
The company has a daily affiliate cap for earning of up to 30 matched sponsorship commissions.
Cost To Join 20K BTC
The cost to join 20K BTC as an affiliate is the membership offered at $299, which is to be paid annually in full using Bitcoin.
Verdict of 20K BTC
Here we are at the end of my review, and now that we’re here I can share with you my last comments regarding my verdict on the company and why I’ve come to the decision that the company may not be 100% believable…
I want to share with you the compensation plan as stated by this company:
“[It] does not sell any investment, security, franchise, distributorship or business opportunity.
Furthermore, 20kBTC does not give advice regarding any investment, security, tax or legal matter.”
Now this seems true, for the most part, but then the company also states:
“No compensation is paid for enrolling new Affiliates. THERE IS NO GUARANTEE OF INCOME WHATSOEVER!
An Affiliate’s income is derived from personal membership sales and from the membership sales made by their left and right teams of Affiliates.”
Okay, so they are covering their butts here, but why all the talk about commissions for new affiliate sponsorship and then turn around and make statements which seem to contradict their entire compensation plan…what is their real plan?
But the talk about membership sales in their compensation plan means sponsorship is taking place and affiliates are earning sponsorship commissions on the new affiliates they bring in, and if you didn’t know, this is what makes the company a pyramid scam.
The company doesn’t have products to advertise or sell, so when you look right into the words written in the compensation plan they say, “sponsor new affiliates whom also sign up and invest with the company too.”
So, here we go again, once there is a slow down in affiliate sponsorship so will the binary team as a whole…
When this occurs, commissions handed out by the company will stop, and the company will now collapse, which will result in investors losing the money they forked up for the $299 membership.
Also, Richard Raymond will be sitting on top the binary team, at the very top, and he will (through this position or another) collect a big portion of the money invested by company affiliates.
My advice? Be careful with this company as you are likely to lose your investment…
I hope you enjoyed my 20K BTC review and if you have any questions, please leave them in the comments below…
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