Cryptocurrency Bank MLM Review – Legit Business or Big Scam?
Welcome to my Cryptocurrency Bank MLM Review!
When you are thinking about joining a new company it is important to ensure that it is a legitimate company.
So how can you do this?
Read and learn as much as you can before signing up.
This review will help you do just that by providing you with information about the company, the products and the compensation plan.
So let’s learn more about Cryptocurrency Bank MLM together!
Cryptocurrency Bank MLM Review – The Company
The Cryptocurrency Bank MLM website does not provide any information in regards to who owns or operates the company.
The Cryptocurrency Bank MLM website domain was registered privately as “ccbmlm.com” on the 11th of June, 2017.
Currently, online estimates that the majority of traffic to the company website originates from the US, Nigeria and Brazil.
Perusing through the Cryptocurrency Bank MLM affiliate agreement revealed that the company is possibly run out of Florida;
Venue and jurisdiction for any action pertaining to this agreement or any disagreement or claim between the parties hereto shall be in Palm Bach Country, State of Florida or in the United States District Court in and for the District of Florida.
There is also an address in Hong Kong that is provided, however a little more digging revealed that this is a virtual address provided by Regus.
Cryptocurrency Bank MLM Reviews – The Products
Cryptocurrency Bank MLM does not have any retail products or services.
Affiliates who join Cryptocurrency Bank MLM can only market the affiliate membership.
The Cryptocurrency Bank MLM Compensation Plan
Company affiliates are required to purchase positions in a matrix and are then paid when they sponsor others who also buy in.
Every new Cryptocurrency Bank MLM affiliate sponsored yields a $10 commission.
Residual recruitment commissions that are earned by affiliates are paid out through a 2×20 matrix.
This 2×20 matrix puts an affiliate at the top of a matrix that has 2 positions right under them.
These first 2 positions make up the first level of the matrix and the second level is created by adding another 2 positions under each of the first two, for a total of 4 positions.
Matrix levels 3 to 20 are created the same way, with every new level holding twice as many positions as the level above it.
Matrix positions are filled by direct and indirect sponsorship of new affiliates who purchase positions.
A $2 commission is paid out for every person that enters the 2×20 matrix.
All commissions that are earned in the Cryptocurrency Bank MLM compensation plan are paid in CCBM points.
Cost To Join Cryptocurrency Bank MLM
The cost to join Cryptocurrency Bank MLM as an affiliate is free.
Verdict on Cryptocurrency Bank MLM
The biggest problem with this company is the fact that they deal in a cryptocurrency that holds no value outside of the company…
Affiliates can only earn these CCBM points, which are virtually worthless…
At some point, real money is going to have to be invested somehow, otherwise what will affiliates withdraw?
It seems that the company is currently in “pre-launch” until September 2017, at which point they will tell their affiliates how much their points are worth…
So, it’s likely that affiliates will have to pay to withdraw their own money…
This is a huge red flag…
So, if you are thinking of joining this company, please keep this in mind…
I hope you enjoyed my Cryptocurrency Bank MLM review and if you have any questions, please leave them in the comments below…
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