What is Bitkrypton About?
The Cryptocurrency industry is an area that attracts a lot of Pyramid schemes and it’s easy to why. Many people don’t know enough about the industry which is why it’s easy to get scammed. Most programs claim that they can give you lucrative returns in record time, and with little effort.
A program called BitKrypton offers an attractive ROI and today, I’ll see if there’s any truth to this.
The fact that you’ve taken a moment to scrutinize this product before signing up should be applauded. You’ve done yourself a huge favour. Your due diligence will save you from potentially wasting your time and money.
A good bit of research always goes a long way in the fight against online scams. Creating a sustainable full-time online business is not difficult. You just need to know where to look.
Before we proceed I’d like to let you know that I’m not linked to BitKrypton in any sort of way and I’m not trying to sell you this product.
Instead, I’d like to show you what’s really going on behind this program…
BitKrypton Product Review
- Name of Product: BitKrypton
- Owner: Not Known
- Type of Product: Cryptocurrency Income Opportunity
- Cost of Product: Invest At Least $50
- Who Is This Product Best For? NOBODY!
BitKrypton Product Summary
BitKrypton claims to be a cryptocurrency investment program that offers a daily return of 0.5% ROI paid over 730 days. If there’s any truth to this, you’ll make a return on investment of 365% in total. This all sounds good on paper but, unfortunately, none of it is true. The program has all the telltale signs of a pyramid scheme and today I’ll be revealing each one.
Product Rating: 1/100
Would I Recommend This Product? Definitely Not
BitKrypton Background
BitKrypton claims to be a cryptocurrency investment program that uses a multi-level marketing business model to generate profits for its members.
According to its website, the company has been established for 8 years but a quick search of their domain registration details revealed something different.
The website’s WhoIs details confirm that the domain was registered on 30th October 2019. The registration was private which means that we couldn’t access any information about the owner or the company’s location. We found out that most of the website’s traffic is from Pakistan.
It’s most likely that the people behind this program are from Pakistan as well or maybe they are currently concentrating on scamming people from that country.
The rule of thumb is that if a multi-level marketing company is not forthcoming about its founders, leadership team or location, then it’s probably a scam. Why have they deliberately hidden their information? Cryptocurrency transactions are anonymous, but the MLM sector isn’t. In fact, one of the regulator’s requirements is for owners to provide clarity and openness about the company.
BitKrypton Product Range
BitKrypton’s site does not provide many details about their products or services and that’s because they don’t have any to offer. I’m not surprised to see that the only option available for members is to pay for membership.
To participate in their income opportunity requires you to sign up and pay the member’s fee. You cannot enjoy the supposed ROI benefits if you’re not a member.
Does BitKrypton Work?
According to BitKrypton, it rewards members with a return on investment by trading Forex, cryptocurrencies, commodities and indices. Do you believe them?
There’s zero proof that the company is doing any of the above. Furthermore, there’s no proof that the program in bringing in revenue from external sources to pay members.
The program is offering passive earnings through ROIs and claims to be trading various instruments, but to do this they would need to be authorized by the relevant financial regulators. BitKrypton has not verified that they are approved by the SEC or any other regulator in its country.
As a result, the company is liable for securities fraud. The founders could be sent to jail for this once they’re caught. As a member, you could also get into some serious trouble if you promote and sell this program to other people.
Similar to other Ponzi and Pyramid schemes, the money will stop coming in when the recruitment dries up, which will inevitably collapse the business and leave you out of pocket.
How To Profit with BitKrypton
There’s just one way to from this program and that’s by recruiting more new members. Again, there’s no evidence that revenue is coming in through other means.
Getting Started with BitKrypton
The program is free to join, however, you’ll need to pay a minimum investment of $50 if you want to access the income opportunity.
The program claims that you’ll earn larger profits if you invest a higher amount of money (of course they do).
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BitKrypton Compensation Plan
The focal point of the program is the passive earnings from the ROI. This is paid every day at a rate of 0.5% and is paid over 2 years i.e. 730 days. Therefore, you’ll supposedly make a return of 365% from your investment during that period.
Referral Commissions
You’ll be rewarded commission for recruiting new members into the program. The referral commission is based on a binary structure, which means that your direct recruits are positioned beneath you on level 1.
Your recruit’s recruits (indirectly recruited) are positioned on level 2 and the structure continues to build out this way.
Commissions are rewarded after the completion of a level. Your points are calculated according to your right and left legs.
In a nutshell, you will make more money if you recruit more members and if those members recruit more people as well.
Ranks
Your earning potential will increase if you move up a rank within the program. You can achieve this by getting two members with large investments in your left or right leg, this can also be done by getting lots of members with smaller investments. Whichever way you look at it, the earnings will depend on the amount of money invested by your team’s members.
To reach the top rank, you have to build a total investment of $10,000,000 on your 2 legs. To achieve the bottom rank, your members will have to invest a minimum of $50 on your 2 legs.
Residual Commissions (Binary)
The residual commission is based on a binary structure which lets you earn a percentage of one-off amounts invested by the members under you. The program supposedly rewards you with 5% of each investment beginning with the leg with the lower performance.
BitKrypton Salary Rewards
BitKrypton provides salary reward bonuses, which are extra commissions that you can make over a certain time span.
E.g. you’ll be rewarded a commission of $60 over 2 months if you build $4,000 investment volume on your 2 legs.
BitKrypton Rank Achievement Bonuses
Additionally, you are paid a bonus when you reach a higher rank. This only applies from the Elite rank and upwards. The bonuses are things like luxury trips, cash prizes or apartments.
BitKrypton Ugly Exposed!
1). Incentives Focused on Recruitment
To be frank, BitKrypton’s reward system incentivizes nothing else but recruitment. You can’t really make money from anything else because there’s nothing else!
The FTC and other regulators consider this to be a big telltale signal that you’re dealing with a pyramid scheme. All multi-level marketing businesses are required to provide a product or service that members can sell instead of just recruitment.
2). Securities Fraud
The company has not given any proof that they are authorised by financial regulators to carry out trades or investments or offer passive earnings which means that they are committing securities fraud.
The program’s brokers or any intermediary handling their trades will have to be approved by the regulators as well. The company is not utilizing a trading platform or a trading bot. As such, they might be placing manual trades.
3). Who’s The Owner?
Would you trust a company that deliberately hides all of its information? They’ve failed to provide any details about the owner or the company’s location.
It’s a bad idea to invest your money with elusive owners.
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Advantages of BitKrypton
You’re dealing with an unscrupulous program which offers no advantages whatsoever.
Is BitKrypton a Scam or a Legit Business?
I can confidently say that BitKrypton is a pyramid scheme. It’s not a genuine company!
We’ve not been given any evidence that the financial regulators have authorised the program to carry out financial transactions. Therefore, they could be liable for securities fraud.
Furthermore, there’s no evidence that the program is placing investments or trades to build an income for its members. The only income stream is the money coming in from new recruitments. What do you think will happen once the recruitment ceases? The company will fail!
Steer clear of BitKrypton if you don’t want to lose money.
How Do I Use The Internet to Make a Full-Time Salary?
I’m not a big fan of get-rich-quick schemes or Cryptocurrency MLM programs, let’s just say that I’ve been caught short a few times.
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