Updated: BitConnect has shut down. See the Telegram channel for their official announcement. I am in such distraught. BitConnect is the one coin that pulled me out of my dire financial situation. With BitConnect I managed to buy an apartment, a car, and pay off all my debts, allowing me to be debt-free. The emotional ties that I have to BitConnect cannot be described in words.
- 1 BitConnect Review – Is This a Good Opportunity or Big Scam?
- 2 What is BitConnect?
- 3 What Are the Products of BitConnect?
- 4 What is BitConnect’s Compensation Plan?
- 5 What is the Cost of Becoming a BitConnect Affiliate Member?
BitConnect Review – Is This a Good Opportunity or Big Scam?
Few weeks ago, BitConnect has already been getting too much attention in the circles of network marketing. With all this hype, I’m sure you have already seen some of the people you know try to sell BitConnect, most especially in different social media networks.
As a matter of fact, the very first thing that you need to know is the fact that we are not a distributor nor an affiliate for BitConnect. We just want to gather all possible information regarding with BitConnect for our BitConnect Review in order for people to come up with the right decision whether they should join BitConnect or not. So, if you want to know more about BitConnect or you don’t even have any idea what this is, then this article is for you.
Is BitConnect a Scam or Legit? Will it really deliver its promises to people? In this review, we will show you our unbiased opinion whether or not BitConnect is the right tool for you.
What is BitConnect?
First and foremost, it’s important that we know what is BitConnect first. It is actually referred to as one of the most recent MLM opportunities. And, having said that, it’s a really good idea to know what this certain company has to offer while BitConnect is still fresh and young.
Furthermore, upon looking through the official website of BitConnect, I came away feeling worried and disappointed. This is due to the fact that there is no any drop of information or background available on the official website of BitConnect, and this simply means that there is no mention of when exactly the company of BitConnect was found, who is the owner, as well as where it is based out of physically, and many more. We actually found out the same thing about their domain registration. As a matter of fact, the bitconnect.co domain was registered last year, on the 9th of February, but it is actually impossible to identify the owner or even where the domain registration took place since it was privately done. Having said that, since we can’t be able to find information of the company, it will remain faceless for now even if it can offer you a lot of MLM opportunities.
What Are the Products of BitConnect?
Similar to the situation of the company’s background information, there’s nothing more important to talk about BitConnect’s product line either. This is the reason why most reviewers put quotes around the product line since there is no any produce being offered by the BitConnect at all. There are actually no services or goods to be seen, and this simply means that there’s no any product being sold to retailers. But, the only thing that’s up for grabs is the companies affiliate membership, and this actually results in there to have a totally lacking retail sales activity for this MLM opportunity.
Furthermore, retail sales are definitely a key to all MLM opportunities, which is why the absence of retail within an MLM company like BitConnect is often a telltale sign that something’s wrong with its processes.
What is BitConnect’s Compensation Plan?
Moving things over to BitConnect’s compensation plant, affiliate members can actually be able to earn profit daily through the company by investing either USD or bitcoin into the company. Having said that, the daily profit that the affiliates invest is the way of the company to describe a return of investment, and it’s actually paid out to the affiliate members basing on how much amount of money they actually decide to invest in this company.
There are 4 main investment levels in BitConnect and they include the following:
1. Investment between 100USD and 1000USD provides access to a 40 percent monthly return on investment that is being paid out for a matter of 299 days.
2. Investment between 1010USD and 5000USD provides access to a 40 percent monthly ROI that is paid out for a matter of 239 days. And, along with this, a 23.9 percent bonus return of investment is also being offered.
3. Investment between 5010USD and 10,000USD provides access to a forty percent monthly return on investment that is paid out for a matter of 179 days. And, along with this, a 35.9 percent return on investment is also being offered.
4. Investment between 10,010USD and 100,000USD provides access to a forty percent monthly return on investment that is paid out for a matter of 120 days. And, along with this, a thirty percent bonus of return on investment is also being offered.
Referral commissions also exist alongside the direct return on investment payments, and this amount of money is actually paid as a fund’s set percentage invested by other affiliates’s downline or your downline within BitConnect.
Commissions actually get handed out through a unilevel system and the 1st level of the setup, which happens to the affiliates that you have recruited personally, earns you the most at up to seven percent.
You can also be able to earn on an endless number of levels. However, the percentage that you will earn also decreases deeper throughout the particular system that you also go.
What is the Cost of Becoming a BitConnect Affiliate Member?
Even though you can be able to join BitConnect without any fee, you will actually need to have an investment between 100USD and 100,000USD if you would like to be really active within the company’s MLM opportunity at hand.
So, the question is, is there really a scam going on in the BitConnect company? Have you been currently hearing some rumors that BitConnect is actually a scam? Right after you have read this honest and unbiased review, you may still be asking yourself if BitConnect is really legit or not. So, if you ask us about the truth, whether BitConnect is a scam or not, we want to be perfectly honest and, in our opinion,, BitConnect is not entirely a scam but there are just some things that you must watch out for in order to make sure that will never be scammed by any MLM opportunity.