BITCOIN5 REVIEW – Is it a Huge Scam??? or is it Legit!!!

Welcome to my Review page on Bitcoin5

There are lots of hype going on about Bitcoin5, many people who deal on bitcoin are trying to know what Bitcoin5 is all about. I hear lots of stories about it both the good and bad ones. Today I am going to give you a comprehensive review about Bitcoin5. Before I proceed I will like to inform you that I am not an affiliate or promoter of this business. If you follow our post, you would have noticed that our readers are always delighted at the comprehensive and unbiased nature of reviews such as Money Exchanger, MMM, Trade Coin Club, Luno, etc

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Is Bitcoin5 Legit or Scam?

Can it actually deliver as promised?

Bitcoin5 Review: What is Bitcoin5?

Going through their website I noticed that it actually looks so good, nice designs but also noticed that it lacks a lot of information including basic information of the owner.

Owners of this site were never mentioned neither was its support team identified. There is also no record on the founding fathers. I would say that this is not a good sign.

From my research, I observed that the domain name was registered privately on the 28th of March 2017. Private registrations are always carried out in a classified manner. There was no record of where the registration was done or who did the registration.

There is actually a Manchester address pointing it towards United Kingdom. I intensified my research and found out that it was an office space which was sold by Regus to probably Bitcoin5. I also found that Adam Bates was listed as a director in Bitcoin5. Carrying out further research on Mr Bates I observed that his name was only mentioned as a director in this business. From my instincts based on my research, I will say that Bates is actually not in existence and I don’t think that Bitcoin5 has anything to do with the United Kingdom.

Scam in Bitcoin5

Bitcoin5 Review: Are there products?

There are no products in this business. No sales are being made, nothing is being marketed or sold to customers, No goods and no services. Although they could offer affiliate membership to incoming members. Companies like this are no longer new in the society and it is quite obvious that there is no chance for any retail sales activity, perhaps this is a general trend with MLM/Ponzi companies.

Compensation Plan for Bitcoin5

There are two ways to earn in Bitcoin5

  1. Return On Investment (ROI)
    Starting up with Bitcoin5 requires a minimum of 0.005 BTC which gives you a daily ROI that pays about 5%. Although payment varies between 1% and 5% in a period of about 20days. Affiliates have the capability of pulling out their invested fund and interest after 20 days. It’s a matter of choice.
  2. Affiliate Commission
    There is also a provision for affiliates to earn based on referral commission. Affiliates are being paid some percentage of the funds invested by their downlines. A uni-level system is used to organize referral commissions.

Affiliates payments based on referral commission also depends on a number of affiliates recruited and their levels. The table below shows details

 

How Much do You need to join Bitcoin5?

Joining Bitcoin5 only requires a minimum investment of 0.005 BTC, if you want to earn more all you need to do is to step up your investment or recruit more members.

Can we say Bitcoin5 is a Scam?

It’s normal to hear scam when dealing with business such as this, some will tell you they have tried and succeeded while some will tell you that it is a scam.

Am sure you must have read some other articles on this which will probably place you in a confused state.

What is the truth about Bitcoin5?

I wouldn’t really call it a scam if I’m to be honest here but there are some hidden secrets about it. I believe you should know them before you eventually go into any business. Proceed to my conclusion

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My Conclusion on Bitcoin5

Bicoin5 tells you that they generate funds from “electronic currency transaction” which they use to upset daily ROIs. However, it is obvious that there is some sort of hidden administrative caucus managing the affairs of this business. They claim they have some sort of investment platform that gives a lucrative return at the end of the day but we all know that there is no evidence to back these claims.

The only fund that comes into Bitcoin5 is the fund invested by incoming members and that is what they use to take care of ROIs.

Bitcoin5 is simply a Ponzi scheme.

As usual, we all know how Ponzi scheme goes. This business will only be running if people continue to invest funds into it but certainly, it will get to its climax or saturated state where no one will be willing to join their platform.

Once people stop joining, Bitcoin5 will eventually crash and the anonymous admins will be the ones to benefit tremendously from it. Those that have invested and are yet to withdraw will be highly disappointed.

I will say sit this one out. If you must do it, make sure you develop your marketing skills and trade wisely.

Remember you can’t get rich by wasting the little you have. All the Best.

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Read: Legit Way to Make Money Online

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