Bitcoin Penny Auction Review – Legit Opportunity or Another Scam?
Welcome to my Bitcoin Penny Auction Review!
So you’ve been searching the internet trying to find a new online company to join and you came across this business…
And now you want to know if it’s legit or not, right?
Well, you have come to the right place!
My aim with my blog here is to give you as much information as I can about the company, the products and the compensation plan…
So here we go!
Bitcoin Penny Auction Review – The Company
So the first piece of information I found is that Bitcoin Penny Auction list Ton van Houten as founder and CEO of the company.
This is confirmed with the Bitcoin Penny Auction website domain registration, registered as “bitcoinpennyauction.com”, which also identifies van Houten as the owner.
Based out of the Netherlands, Van Houten’s corporate bio says the following:
Through the years he has developed himself into a specialist regarding Internet and has followed several courses, which led to his extensive online experience.
In the past Ton has held several positions, among as a director for a Dutch based search engine.
Other than that, I wasn’t able to find any more information on Van Houten’s MLM history.
Bitcoin Penny Auction Reviews – The Products
Bitcoin Penny Auction does not offer any retail products or services.
Affiliates who sign up with Bitcoin Penny Auction market and sell the affiliate membership.
Once an affiliate joins Bitcoin Penny Auction, they are provided access to a penny auction platform.
Bitcoin Penny Auction Compensation Plan
Affiliates who participate in the Bitcoin Penny Auction compensation plan get paid when they sponsor affiliates who purchase auction bid packs.
- Start Pack – $5.50 (10 bids)
- Small Pack – $11 (21 bids)
- Basic Pack – $26.95 (53 bids)
- Bronze Pack – $66.69 (131 bids)
- Silver Pack – $132 (263 bids)
- Gold Pack – $261.25 (525 bids)
- Platinum Pack – $508.75 (1050 bids)
- Diamond Pack – $1237.50 (2625 bids)
Commissions that are earned on these bid pack purchases are paid out through a unilevel compensation structure.
So what is a unilevel compensation structure?
It’s a structure that puts an affiliate at the top of a unilevel team that places every personally sponsored affiliate immediately under them on level one.
When a level 1 affiliate sponsors new affiliates, they are put on level 2 of the original affiliate’s unilevel team.
When a level 2 affiliate sponsors new affiliates, they are put on level 3, etc.
There are four unilevel levels that pay out the following base rate commissions:
- Level 1 (Personally sponsored affiliates) – 2%
- Level 2 – 1.5%
- Level 3 – 1%
- Level 4 – 0.5%
The more a Bitcoin Penny Auction affiliate spends on bid packs, the more level 1 commission they make:
- Bronze Pack ($66.69) – 3%
- Silver Pack ($132) – 4%
- Gold Pack ($261.25) – 5%
- Platinum Pack ($508.75) – 7.5%
- Diamond Pack ($1237.50) – 10%
Cost To Join Bitcoin Penny Auction
At this time, the Bitcoin Penny Auction affiliate membership is free.
But it should be noted that bid pack purchases increase the base commission rate that is offered.
These costs range between $66.69 (3%) and $1237.50 (10%).
Verdict on Bitcoin Penny Auction
So again, we have a company that offers no real products or services…
This company built it’s format on recruitment and bid purchases…
The problem with companies that rely heavily on recruitment is that eventually recruitment pools dry up…
With nothing to keep retail customers or even lower level affiliates around for the long haul…
Income will slowly decrease as well…
So as of today, my advice is join at your own risk…
I hope you enjoyed my Bitcoin Penny Auction review, and if you have any questions, please leave them in the comments below…
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