In network marketing circles, BitConnect has become quite popular over the last few years.
Actually, there are many people who have started selling it in their social media platforms.
Someone might have approached you about this multilevel marketing strategy or you might have come across it in your social media platforms.
Here’s what you need to know about BitConnect and whether it’s a scam or a good financial opportunity.
Currently, BitConnect doesn’t offer any retail services or products to offer the affiliates or customers. Basically, if you sign up for the membership that’s all you’re going to market.
However, there’s a compensation plan in place where to receive anything affiliates should invest in bitcoin to get a daily profit. There’s an internal exchange program in place where pre-mined bitconnect coins are arrived by converting the invested bitcoins.
How Does It Work?
As an affiliate, you can then choose to transfer the BitConnect coins for daily returns on investment (ROIs). For instance, if you invest a minimum of $100 and a maximum of $1000, you can receive a maximum of 40% each month for a period of 299 days.
On the other hand, with a minimum of $1010 and a maximum of $5000, you can receive 40% for a period of 239 days as well as a bonus of 23.9% ROI.
Another level is where you invest a minimum of $5010 a maximum of $10,000 to receive 40% each month for a period of 179 days as well as a bonus of 35.9% ROI. Finally, if you invest a minimum $10,010 and a maximum of $100,000 you can receive the standard 40% each month for a period of 120 days with a bonus of 30% ROI.
There’s also a unilevel compensation structure where affiliates can earn referral commissions. Here, the payments are received depending on the total funds invested.
The affiliate will be placed on top of the unilevel team and each affiliate sponsored personally will be placed immediately underneath the top one. The lowest affiliate will be a level 1 and he/she can choose to sponsor new affiliates. Thereafter, they are placed on the second level of the original affiliate.
The process continues because if an affiliate at level 2 sponsors anyone new, they will be placed on the third level and so on. The residual commissions will be paid as part of the funds invested across the unilevel team.
As an affiliate, you can join BitConnect without any charges but you’re required to make an investment of at least $100 to a maximum of $100,000 to get any ROI from the compensation plan.
One of the main red flags about the program is the fact that all the affiliates should actually buy and invest in the cryptocurrency, something without any value elsewhere. Note that, affiliates elsewhere are actually investing in real money such as bitcoin or USD while with the program it becomes a useless investment.
On the other hand, without any new products or services, someone can only make money by recruiting affiliates who will also invest in real money.
This is fine if you are in the business of recruiting affiliates. This is not an MLM program because you do not earn any commissions on a downline beyond your first level.
What Are 2 Tier Affiliate Programs?
In two tier affiliate marketing programs you get paid for your own sales as well as the sales of any personal affiliate recruits. As I stated above this is not in network marketing because you are only concerned with personally recruiting affiliates.
You’re not building a sales team. Of course the primary benefit of this is you can recruit affiliates and earn money whenever they perform a specific action such as selling a product, completing a cost per action form, and so on.
Many affiliate marketers like this because they don’t have to create a product of their own. They can just promote the 2 tier affiliate program and recruit affiliates. I’ve seen this type of program on get paid to program such as Cash Crate, as well as bit connect and many other programs.
One of the primary disadvantages of a two tier affiliate program is you spend time recruiting affiliates that never do anything. This is also true on network marketing so a way around that is to sell a two tier affiliate program that has a membership renewal component to it.
I like wealthy affiliate for this reason. You could recruit affiliates into the wealthy affiliate program, but you make money with the upgrade to a premium membership.
Summary: BitConnect Opportunity Scam Reviews
Because there are so many affiliates promoting it I found it hard to find Bitconnect Opportunity Scam Reviews that were not biased towards it. I guess that is ok if you understand that a marketing method for selling something is to review it in a mostly pro way.
From a business standpoint BitConnect appears to be legitimate. However, if you want to get into this type of business you may be better off to find a system to make money with BitConnect as well as other programs and use it to maximize you earnings.
Here’s A Legitimate Way To Make Money
I have been making money online as an affiliate for Wealthy Affiliate. This is a community for affiliate marketers who want to learn how to make money using the affiliate marketing business model.
It is different then the network marketing business model, so they provide a 10 part course on how to do affiliate marketing correctly.
The course is free and thousands of people all over the world have used it to start their own online business in affiliate marketing. You will find more training on finding affiliate marketing to use digital marketing to your best advantage and create more income!
If you are unsure about MLM programs take a look at Our Top Affiliate Training by clicking the link below.
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Related Video: HOW LONG WILL BITCONNECT LAST??? (THE REAL TRUTH)