Welcome to our Bitlocity Review!
Bitlocity is a new opportunity for people to earn Bitcoin through recruiting new people into this program… Chances are, someone has approached you about this business opportunity, and you’re not entirely convinced that it’s legit…
If it sounds like it’s too good to be true, it usually is, and we’re give you all the details you need to know in this review.
First off, it’s great to see that you’re doing your research before buying into any “seemingly good” product.
To be completely transparent with you, we’re not associated with Bitlocity in any form. We’re not here to pitch or sell you anything.
Instead, we want to reveal all the details you need to know about this program, including background information, cost to join, an overview of how it all works, and more…
By the end of this review, you’ll know all you need to know about this program, and whether it’s the right choice for you…
Let’s get started with a quick product overview…
Bitlocity Review Summary
Product Name: Bitlocity
Product Type: Gifting MLM Company (Pyramid Scheme)
Price: $25 to $100K BTC
Best For: The Owners
- Pyramid Scheme
- Low Chances of Making Money
Summary: Bitlocity is a gifting scheme that uses Bitcoin instead of normal currency. You pay a fee to be able to recruit other people in with the promise of a return on investment. In turn, you receive money for recruiting people and you pass up commission to the person who recruited you.
That makes this a pyramid scheme, and they are just not sustainable. Once the recruitment slows down, there isn’t enough money to keep the scheme going and pay everyone. When this occurs, the scheme will collapse.
My recommendation is to avoid this scheme at all costs!!!
Table of Contents
What is Bitlocity?
Bitlocity claims to be an opportunity for you to earn some Bitcoin just by recruiting new people into the program…
It sounds easy, but it is nowhere near legit. In fact, Bitlocity is nothing more than a (cash) gifting scheme that uses Bitcoin instead of cash.
You pay a fee to be able to recruit other people. Then, when you do recruit people you earn Bitcoin back, although you pass up commissions to the person who recruited you, based on what your ranking is.
There are no products or services actually on offer, so the only form of income for its members is by bringing more people into the scheme, this makes it a textbook pyramid scheme.
When the recruiting slows (and it will), there will not be enough money to keep on paying everyone. When that happens the scheme will collapse…
The owners will run away with any of the money left, as most of the commissions will be passed up to them, and then a short while later, they will come up with another very similar scheme and start again.
This program has so many red flags, and since cryptocurrency has been around, there have been many of them appearing, and reappearing when the scheme collapses. It’s still new, so people are unsure about it, but it sounds lucrative so they think it’s worth the risk…
Bitlocity is a Pyramid Scheme!
Not all pyramid scheme require you to recruit, most do… But Bitlocity is definitely a pyramid scheme!
There are no products to speak of, so there is no option for you to sell products or services within Bitlocity. It’s the first thing I would always look for, when trying to figure out if a scheme is a pyramid scheme or not.
You have to be a little careful when they do have products or services, as many MLM’s are known to operate what is called a pyramid scheme in disguise. They have products, but recruitment is majorly pushed onto you.
Pyramid Schemes happen when most of the revenue (into the scheme) comes from recruitment. When you consider that 100% of the revenue for Bitlocity is coming from recruitment, you can see why it’s a pyramid scheme.
With a pyramid scheme, the following graphic happens:
Bitlocity is mainly being promoted in the United States, where Pyramid Schemes are illegal.
It’s not only the owners that can get in trouble, for the scheme. You can get into serious trouble for participating in these schemes. There is a misconception that as it involves Bitcoin and not cash, you cannot get into legal trouble, but that isn’t the case.
Digital Altitude was found to be a pyramid scheme by the FTC, and many people got into legal trouble for promoting it, as well as the owners…
The reason these Pyramid Schemes are illegal, is because it’s guaranteed to fail, with most people being guaranteed to losing money.
It’s not just the legal implications that make this a bad endeavour to go with…
Recruiting Is Very Hard
Even if you were to put the legal ramifications aside for the moment, you have to really consider that it’s going to be really hard to get to a point where you actually start earning any income. That is because you have to recruit so many people before you are eligible for commissions, and then you need to find people who would want to invest.
To make money with Bitlocity, you’ll need to find three people to invest under you, and each one of them is going to need to recruit three people as well.
The prices range from $25, to $100,000!
How many people do you know, that would be interested into investing into a scheme like this? And would you be happy intentionally bringing them into an illegal scheme that will most likely lose them money?
I also bet the person trying to recruit you, is telling you that you’ll need to spend a lot more than $25 to make it worthwhile, right?
But, the other factor to consider is that this will only benefit people who already have Bitcoin. So, that will typically take away most of the people you know, or those that might be interested.
Then, there is the fact that 99% of people end up losing money when it comes to recruitment focused schemes.
Recruitment is really, really hard!!
Haven't Made Your First $1 Yet?
How Much Does Bitlocity Cost?
Well, the first thing is that you’ll need Bitcoin to be able to invest into this scheme. Then, you have the membership levels…
- Bronze $25
- Silver $50
- Gold $75
- Platinum $100
- Pearl $200
- Ruby $750
- Sapphire $1,000
- Emerald $2,000
- Diamond $5,000
- Double Diamond $10,000
- Blue Diamond $20,000
- Ambassador $50,000
- Crown Ambassador $100,000
In total, it would cost you $189,000 to participate in the whole program!!
P.S. This program enabled us to Create a 4-Figure Monthly Passive Income. It’s Free to get started, and costs only $49/month to go full-time!
Bitlocity Compensation Plan
The compensation plan isn’t that difficult to comprehend, and the amount you can make will depend on what level you are.
Here’s what you need to know…
Bronze & Silver Levels
The Bronze and Silver levels are the first two membership levels of the program. These levels give you the ability to recruit people. You’ll get to earn commissions from one of the recruits, and the second gets gifted to another Bitlocity affiliate.
After you get past these two levels, you then get a third recruitment slot, which gives you the chance to recruit a third person.
Gold & Higher Levels
At the Gold level, or hight you have three spots that you need to fill under you.
You get to keep the commission from two of the recruits, and the third is gifted to the person who recruited you. This is known as a 3×1 matrix.
Top Recruiter Pool
There’s a $10 transaction fee for every commission in the program. Of which, $5 of this is put into a pool that gets distributed to the top recruiters at Bitlocity.
Here’s a breakdown of how this is redistributed…
- Top recruiter receives 20% of the fund
- Second & Third recruiter gets 15%
- Fourth, Fifth, Sixth recruiters get 10%
- Seventh to Tenth gets 5%
You may still have a few questions about Bitlocity, so hopefully our FAQ will give you the answers you need…
1. Is Bitlocity Worth Joining?
No way!! Although Bitlocity is using Bitcoin, so it sounds new, it justs uses the same model that has been around for years with cash. There are many different crypto gifting scheme doing the rounds.
It’s nothing more than a pyramid scheme. You’ll very likely lose any money you invest into the scheme, and the only way to make money is by recruiting people into what is a scam… meaning anyone you recruit will very likely lose their money too.
2. Where is Bitlocity Based?
According to Alexa, Bitlocity is getting most of its web traffic from either the US and South Africa. Because it is using Bitcoin, the regulators might not notice the scheme straightaway, but they will eventually.
South Africa is a lot slower at stopping these type of schemes.
3. Is Bitlocity Legit?
Not in any form. It’s an illegal gifting scheme. There are those that would argue that it’s legal as it uses Bitcoin, but that simply isn’t the case.
Here’s a report from the SEC, that explains why using crypto in these schemes is still illegal…
Bitlocity isn’t just illegal in the US, being a pyramid scheme makes them illegal pretty much everywhere on the planet. Pyramid Schemes are not allowed to operate in any country. It just depends on the country you are in, as to how quick the authorities get to them.
4. How Do You Make Money with Bitlocity?
You have to recruit… that’s the bottom line. The only way to make money with Bitlocity is to recruit someone into the scheme, and convince them to hand over their Bitcoin in the process.
Then, you need to buy into the higher levels, and keep on recruiting. And so on, and so on.
It’s important to note that if you recruit someone who buys in at a higher level than you, then you will not earn the commission, as that will get passed up to the next person with that appropriate level.
5. Does Bitlocity Have a Refund Policy?
Nope, there’s no refund policy. Once you pay into this scheme, you cannot get your money back. Your only option is to recruit someone, if you can’t you’ve lost any money you’ve put into this scheme.
6. Are There Any Alternatives?
There’s plenty of crypto schemes out there, but the majority of them are exactly the same as Bitlocity. So, I wouldn’t recommend any of them.
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What We Liked About Bitlocity
There isn’t anything we liked about Bitlocity. It’s a crypto gifting pyramid scheme! Bottom line, avoid it like the plague!!
What We Didn't Like About Bitlocity
Here’s what we didn’t like about Bitlocity:
#1 It’s a Pyramid Scheme
This is a textbook pyramid scheme, making it illegal!! Pyramid schemes only have a short lifespan, as they are either found out, or when people stop investing, there is no money to spread around the members.
Recruiting people is your only option here…
#2 It’s Illegal!
It doesn’t matter that it is using Bitcoin instead of cash, Bitlocity is illegal in practically every country in the world. People are still unsure about Cryptocurrency, but it is the same deal – It’s Illegal.
#3 Low Chance of Success!
Recruiting people into a legal scheme like MLM is bad enough, as it’s really hard, but when you factor in that you’ll be recruiting people into an illegal crypto gifting pyramid scheme… the only options left to you are deception.
Pyramid schemes are unsustainable, and even if you did start to make some headway, it will have collapsed by then and you’ll have lost any Bitcoin you invested into the scheme…
Haven't Made Your First $1 Yet?
Is Bitlocity a Scam?
In my opinion, this is totally a scam. It’s operating as a pyramid scheme and a gifting scheme. Both are illegal and going to leave you with empty pockets.
Recruitment is hard enough in a legitimate business, let alone into a recruitment scheme. It might sound new and innovative as it’s cryptocurrency. But these types of schemes have been around for years with cash, these scammers are just using the latest thing, as people lack the full understanding of it…
Bottom line avoid this…
How We Make Money Online
If you want a legitimate way of making money online, our top recommendation is Affiliate Marketing.
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Thanks for checking out our Bitlocity Review! If you have any questions or comments to add, then please write them in the comments section below. 😉
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