BitConnect Review – Legit Biz Op or Just Another Scam? Find Out Here…
Welcome to my BitConnect Review!
You have probably already been approached by someone about this company, or maybe you just came across it in your online searches…
Either way, you’re here because you want to know if it’s a legit business, right?
Well, you are in the right place!
My review will go over the company background, the products and the compensation plan.
So let’s learn more together!
BitConnect Review – The Company
The company website does not provide any information in regards to who owns or operates the business.
The BitConnect website domain was registered privately as “bitconnect.co” on the 9th of February, 2016.
Pretty limited on info there…
Let’s get to the products…
BitConnect Reviews – The Products
BitConnect does not have any retail products or services to offer its customers or affiliates.
Affiliates who sign up with BitConnect simply market the affiliate membership.
The BitConnect Compensation Plan
In order to take part in the BitConnect compensation plan, affiliates must invest bitcoin for a “daily profit” ROI.
The company converts invested bitcoin into pre-mined BitConnect Coins via an internal exchange.
An affiliate can then choose to transfer their BitConnect Coins to BitConnect for daily ROIs:
- Invest $100 to $1000 and receive up to 40% a month for 299 days
- Invest $1010 to $5000 and receive up to 40% a month for 239 days plus bonus 23.9% ROI
- Invest $5010 to $10,000 and receive up to 40% a month for 179 days plus bonus 35.9% ROI
- Invest $10,010 to $100,000 and receive up to 40% a month for 120 days plus bonus 30% ROI
Affiliates can also earn referral commissions through a unilevel compensation structure, which is paid on funds that are invested.
A unilevel compensation structure puts an affiliate at the top of a unilevel team that places each personally sponsored affiliate immediately underneath them on level 1.
When a level 1 affiliate sponsors new affiliates, they are put on the second level of the original affiliate’s unilevel team.
When a level 2 affiliate sponsors new affiliates, they are put on the third level, and this continues on down as many levels are are needed.
Residual commissions are paid as a percentage of the funds that are invested across the unilevel team, like so:
- Level 1 (Personally sponsored members) – 7%
- Level 2 – 3%
- Levels 3 and 4 – 1%
- Level 5 – 0.5%
- Level 6 – 0.3%
- Level 7 – 0.2%
- Level 8 – 0.1%
- Level 9 – 0.05%
- Level 10 – 0.03%
- Level 11 onward – 0.01%
Cost To Join BitConnect
The cost to join BitConnect as an affiliate free, but affiliates are required to invest between $100 and $100,000 in order to participate in the compensation plan.
Verdict on BitConnect
The biggest red flag with BitConnect is the fact that they require their affiliates to buy and invest in the company’s own cryptocurrency…
A cryptocurrency that holds no value outside of the company…
Affiliates are investing real money, either USD or bitcoin, into an essentially useless form of currency…
The company also doesn’t offer any real products or services…
So the only way to keep income coming in is to continually recruit new affiliates who will also invest real money…
This is a huge red flag…
Keep this in mind if you are considering joining this company…
I hope you enjoyed my BitConnect review and if you have any questions, please leave them in the comments below…
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