Bitcoin Hive Review – Legit Business or Big Scam? Find Out Right Here…
Welcome to my Bitcoin Hive Review!
With so many different MLM companies popping up every month, it can be hard to determine which ones are legit and which ones aren’t.
The best thing you can do when contemplating a new company is to thoroughly research it.
This review will cover the company background, the products and the compensation plan.
Keep reading for a complete review on Bitcoin Hive!
Bitcoin Hive Review – The Company
I couldn’t find any information on the company website about who runs or operates Bitcoin Hive.
Registered on November 10th, 2016, the Bitcoin Hive website domain, “bitcoinhive.net”, was registered privately.
If a visitor enters the Bitcoin Hive website and doesn’t have affiliate referral code, the website will state that you have been “invited by Bitcoin Hive Admin”.
You can then go on to click the yellow “register” button at the top of the page, and the site will then say ‘you were invited by Lorraine du Plessis‘.
This name is the only name that is associated with Bitcoin Hive as a “Bitcoin Hive Admin” and referring affiliate.
When a company isn’t completely upfront about who is running the business or where it is operating from, it is always a good idea to think twice before investing your money.
Bitcoin Hive Reviews – The Products
When I checked out their website I noticed that Bitcoin Hive does not offer any retail products or services.
Affiliates who join Bitcoin Hive can only market and sell the affiliate membership.
The Bitcoin Hive Compensation Plan
To participate in the Bitcoin Hive compensation plan, affiliates are required to gift money to each other through a 2×4 matrix.
What does a Bitcoin Hive 2×4 matrix look like?
This compensation structure puts an affiliate at the top of a matrix and has 2 positions right under them.
These first 2 positions form the first level of the matrix and the second level is made by adding another 2 positions under each of the first 2, for a total of 4 positions.
The third and fourth levels of the matrix are made the same way, holding 8 and 16 positions.
When a 2×4 matrix is complete, it holds 30 positions.
If order to unlock each level of the matrix, a gifting payment is required.
When this gifting payment is made, the affiliate then qualifies for payments from other Bitcoin Hive affiliates, which looks like this:
- Level 1 – Donate 0.02 BTC to the affiliate who recruited you and receive 0.02 BTC from 2 subsequently recruited affiliates
- Level 2 – Donate 0.03 BTC and receive 0.03 BTC from 4 affiliates
- Level 3 – Donate 0.1 BTC and receive 0.1 BTC from 8 affiliates
- Level 4 – Donate 0.5 BTC and receive 0.5 BTC from 16 affiliates
This company reminds me of Crypto Wealth…
Cost To Join Bitcoin Hive
The cost to join Bitcoin Hive as an affiliate is a minimum donation payment of 0.03 BTC.
In order to fully participate in the Bitcoin Hive compensation plan, it will cost 0.65 BTC.
BitCoin Hive Review – The Verdict
When you hear the word “MATRIX” and “DONATIONS”, it’s 99% of the time a gifting scheme…
Here you are gifting BitCoins to the people who sponsored you…
A legit company always has their own payment processor that pays you, not directly from a member…
And there are no products or services being sold here, just gift payments to members.
On top of that, the ownership isn’t transparent on who they are…
This gives them the opportunity to startup another business like this if it fails which sucks for people who get screwed over…
For that reason, I do NOT recommend this company at all!
I know there are going to be some affiliates that will defend this company, but if you can prove me wrong I will change the review 🙂
I hope you enjoyed my BitCoin Hive Review and if you have any questions, leave them in the comments below…
Jesse What Do You Recommend?
After reviewing hundreds of companies and systems…
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