Bitlocity is a new opportunity where you can make Bitcoin by recruiting people into the program..
Too good to be true? Scam?
That's what this review will answer.
Below you'll find everything you need to know about Bitlocity including background information, price to join, overview of how it works and more.
You'll know if this program is right for you by the time you're done reading.
Let's get into it!
Business model: Gifting, pyramid scheme
Price to join: $25 to $100,000 BTC
Do I recommend? No!
Overall rating: 0/5
Bitlocity is nothing more than a gifting scheme that uses Bitcoin instead of cash.
You pay a fee to be able to recruit other people.
You get money for recruiting people and you pass up commissions to the person who recruited you.
This is a textbook pyramid scheme. Once recruiting slows down there's not enough money to pay everyone.. when this happens the scheme collapses.
Avoid at all costs.
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Bitlocity Is A Pyramid Scheme
Not all programs that require you to recruit is a pyramid scheme..
However, Bitlocity is 1000% a pyramid scheme.
The reason you can be sure this is a pyramid scheme is because there's no product to sell.
Pyramid schemes happen when most revenue comes from recruitment and Bitlocity's case all revenue comes from recruitment.
In these schemes the following happens:
Bitlocity is mainly being promoted in the United States which is illegal.
You can actually get in legal trouble for participating in this scam.
Some people think because it involves Bitcoin and not cash it's legal but this isn't the case.
It's illegal because it's guaranteed to fail and most people are guaranteed to lose money.
Recruiting Is Very Difficult
Let's say that you really don't care about the legal (or moral) ramifications of joining Bitlocity.
You're going to have a very, very hard time recruiting people.
To make money you'll need to find three people people to invest under you and then each one needs to find three people to recruit.
The recruitment prices range from $25 all the way to $100,000.
How many people do you know that will want to participate in this scheme?
Do you care that you'll be intentionally bringing people into something where they'll most likely lose money.
Keep in mind this is only for people that have Bitcoin as well.
So that's going to take away a lot of people who would otherwise be interested in joining.
Lastly, almost everyone who joins recruitment focused schemes end up failing.. some estimate 99% of people lose money.
How Much To Join?
You need Bitcoin to join Bitlocity.
Here's the various membership levels you can join at:
- Bronze ($25)
- Silver ($50)
- Gold ($75)
- Platinum ($100)
- Pearl ($200)
- Ruby ($750)
- Sapphire ($1000)
- Emerald ($2000)
- Diamond ($5000)
- Double Diamond ($10,000)
- Blue Diamond ($20,000)
- Ambassador ($50,000)
- Crown Ambassador ($100,000)
In total it would cost $189,000 to participate in the entire program.
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Bitlocity Compensation Plan
The compensation plan is pretty straight forward.. how much you make depends what level member you are.
Here's a look at how the compensation plan works based on your membership level:
Bronze And Silver Levels
Bronze and silver are the first two membership levels of the program.
At these levels you have the ability to recruit people.
You get to keep the commissions of one of the recruits and the second gets gifted to another Bitlocity affiliate.
After you get past these two levels another recruitment slot is opened, giving you a chance to recruit a third person.
Gold And Higher Levels
Once you reach the gold level or higher you have three spots that you need to fill under you.
You get to keep the commissions of two of the recruits under you and third recruit's commissions is given to the person that recruited you.
This is known as a 3X1 matrix and looks like the following:
So you get to keep the commissions of the recruit on the left and the one in the middle. The commissions from the recruit on the right get tossed up to the person that recruited you.
Top Recruiter Pool
There's a $10 transaction fee for every commission in the program.
$5 out the $10 gets put into a pool that gets distributed to the top recruiters at Bitlocity.
Here's a breakdown of the redistribution:
- Top recruiter receives 20% of fund
- Second and third recruiter get 15% of fund
- Fourth to sixth recruiters get 10%
- Seventh to tenth get 5%
1) Is Bitlocity worth joining?
Although Bitlocity uses Bitcoin this is an old scheme that's been used for a long time with cash.
There's other crypto gifting schemes as well.
It's nothing more than a pyramid scheme. You'll likely lose money and the only way to make money is to to recruit people into the scam.. meaning they'll most likely lose money.
2) Where is Bitlocity based out of?
According to Alexa, Bitlocity gets most of its web traffic from the United states and South Africa.
Because it uses Bitcoin regulators may not catch on to this scheme right away but they eventually will.
South Africa is pretty slow to stop these kinds of schemes.
3) Is Bitlocity legal?
No, Bitlocity is an illegal giting scheme.
Many people will make the argument that because it uses Bitcoin it's legal but this isn't the case.
Here's a report from the SEC explaining why using crypto in these schemes is still illegal.
Bitlocity isn't just illegal in America either.. it's illegal everywhere.
Pyramid schemes aren't allowed in any country. Some countries are worst at stopping them than others, though.
4) How do you make money with Bitlocity?
There's only one way to make money with Bitlocity and that's recruitment.. hence why this is a pyramid scheme.
There's no product to sell here.
All you're doing is paying for the right to recruit. Then you recruit, get money and then move up to the next level.. where you need to recruit again.
5) Is there a refund policy?
No there's no refund policy.
Once you pay into this you can only make money by recruiting. If you can't find people to recruit you lose your money.
6) Are there any alternatives?
There's various crypto pyramid schemes and I wouldn't recommend any of them.
If you're interested in making money online in a legit way, click below:
Bitlocity Pros And Cons
Yes and despite using Bitcoin it's an old kind of scam.
Recruitment and gifting schemes have been around for a long time and they always fail.
Avoid Bitlocity at all costs.
Here's A Better Opportunity
Don't join Bitlocity.
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Most are low quality and some are straight up scams.
However, there's a few good courses.
To see the best, click below: