BitTrain Review – A Crypto Ponzi Scheme In Action!

Welcome to my BitTrain review!

Whenever there’s a scheme where cryptocurrency’s involved, chances are it might be a scam. This sounds like a completely harsh conclusion, but it’s the truth.

Cryptocurrency trading itself is an enigma, and unless done through legitimate trading platforms, schemes that promise huge returns on investments are just outright scams.

One of the schemes that we will be reviewing is BitTrain.

First of all, I must Congratulate you for taking your time to do your own research before buying into any "seemingly good" product.

That's the way to avoid scams and find the legitimate way to make money online!

Let me be completely transparent with you, I'm not associated with BitTrain in any form.

So, rest assured that I'm not here to pitch or sell anything to you.

Instead, I'm here to reveal what this cryptocurrency scheme is trying to get you and why you're not going to get your money back! 

BitTrain is a business opportunity that markets a Bitcoin ICO (Initial Coin Offering) and that’s built on a MLM or multi-level marketing compensation structure. But this program is not a MLM.

They claim that you can earn a huge passive percentage on your initial investment by trading in cryptocurrencies. You can also make more money if you recruit people into the company.

Sounds sketchy, right?

Bittrain Founder

On their website, the founders listed are:

• John Kin - Bittrain CEO and Co-founder
• Allen Coko - Bittrain Co-founder

Now, John Kin apparently exists because there’s a YouTube video of him. Meanwhile, I couldn’t find anything about Allen Coko.

This leads me to believe that something is up with these 2 because I could only find little to no information about them. And with their credentials and experience, one would think that they’d return at least a social media profile and articles about them.

Sadly, the only time they show up on Google is when the company BitTrain is involved.

We’ll just leave it at that.

There are two ways for you to make money once you invest in BitTrain.

• Weekly passive income through your investment
• Recruitment commissions with their MLM compensation plan (Note: this is not a MLM company)

They don’t have physical products or services to offer apart from a single business opportunity, which we know is a red flag listed in FTC’s guidelines against Pyramid Schemes.

Bittrain Compensation Plan

The main source of income is your 8% ROI from your total investment, which depends on the Membership Package you invest in.

If you do decide to join as a member, you’ll be asked to invest money into BTRC or their BitTrain Coin Points. These are the investment levels to choose from:

• Starter Pack — Invest $100 + $5 subscription fee
• Medium Trader — Invest $250 + $10 subscription fee
• Active Trader — Invest $500 + $15 subscription fee
• Advance Trader — Invest $1000 + $20 subscription fee
• Pro Trader — Invest $3000 + $20 subscription fee
• Tycoon Trader — Invest $5000 + $25 subscription fee
• Elite Trader — Invest $10,000 + $25 subscription fee
• Premium Trader — Invest $25,000 + $50 subscription fee
• Combo Trader — Invest $50,000 + $100 subscription fee
• Mega Combo Trader — Invest $100,000 + $100 subscription fee
• Mellenium Combo Trader — Invest $250,000 + $500 subscription fee

Members also earn referral and residual commissions on top of their weekly ROI’s.

The referral commission is built on a unilevel structure whereas residual ones are handled in a binary structure.

Here’s a short video that explains their confusing compensation plan:

Bittrain Recruitment Commissions

You earn a 10% direct referral fee from the membership fees your recruit pays when they sign up for BitTrain.

You’ll also earn 10% more as you climb up in their Unilevel ranks.

Marketing A Prediction!

The way they drive you into the program is that they claim they have predicted the value of the BitTtrain token, which according to the chart shown below should have quintupled in May 2019.

This means that by September this year, your investment would be 10 times the original investment in the BitTrain coin.

This is clearly BS considering the boorish cryptocurrency coin market, and this is assuming that such a coin exists somewhere. They even predicted that the crypto would be valued at $50,000 by the end of 2020.

That’s also a ridiculous prediction because not even Bitcoin, which is the world’s most valuable cryptocurrency, was projected to rise to that extent given the market conditions.

BitTrain is an investment scheme that’s not meant for anyone and I’ll explain why in the next section below.

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#1 -  Unrealistic Claims!

Obviously, the first red flag about BitTrain is their confidence that their token value will go up to $50,000 in the year 2020.

Expert traders aren’t even making the same claims when it comes to legitimate coins such as Bitcoin. Given the current market condition, I doubt that they’ll even come close to Bitcoin’s value.

And why haven’t people heard of BitTrain if it’s the coin that’s going to compete with Bitcoin?

Legitimate trading platforms who trade cryptocurrencies will never make any promises about your ROI’s or profits. Rather, they constantly remind you about the inherent risks of investing in cryptocurrencies.

This is something that BitTrain doesn’t do.

#2 – No ICO Announcement!

BitTrain claims that they have a successful ICO but I couldn’t find any information about any trades about their token.

There are no forum postings or news articles about suggesting transactions with said coin.

So if no actual trades are going on, where is your money and commission coming from?

#3 – Feels a Lot Like A Ponzi Scheme!

Because there are no records for any cryptocurrency trading and transactions ever happening, I believe that the income from BitTrain comes from the membership packages of the new members.

Which leads me to believe that this might be a Ponzi scheme.

In addition, BitTrain encourages you to recruit more people instead of teaching them how to trade cryptocurrencies. Again, a huge red flag in the eyes of the FTC.

Even if you do watch their compensation plan video, you’ll see that there’s no way for you to make any passive income except through recruitment.

Everything you’ve been told at this point has been a complete lie.

#4 – BitTrain Will Collapse

They don’t have a sustainable business model because as soon as people are no longer able to recruit, the income stream stops. And when they no longer earn income, they’ll start to expose the owners behind this program.

And BitTrain will close and cease operations once it’s been exposed or once it’s gathered enough money from the victims.

Or when the FTC shuts them down.

#5 – No Real Owner Information!

If there was one thing that would affect the confidence of its members in investing into the program, it would be finding out who the owners are and what they’ve done in the past.

Sadly, you won’t find anything concrete about the BitTrain’s founders’ past because they might be fake or they might just be telling outright lies on their resume.

It’s easy for anyone to claim that they’re experts in trading, and the proof of that is through their portfolio and accolades from their fellow traders.

However, there’s just nothing about the founders’ portfolios or any verifiable piece of information about what they did before.

There’s no surprise here that there’s nothing positive worth mentioning about this program because it’s an outright scam and it’s clearly a Ponzi scheme.

BitTrain is a cryptocurrency investment trading opportunity that markets its token through unrealistic predictions and claims of income.

It’s clearly a Ponzi scheme because there are no physical products to sell and that there’s too much focus on recruitment when it comes to earning money.

When you dissect their compensation plan, there’s no way for you to make money through your investment. You’re only making money through the people you recruit.

This is just how BitTrain and other cryptocurrency trading scams are designed to operate, and once they get enough money from their victims, they’ll shut down, rebrand, and do it all over again!