Hello and a warm welcome back, Today we are going to look into A Review On BitLocity, when I first heard the name I thought it was going to be about mining or trading Bitcoins.
Boy was I wrong!
How many times have you been caught out by schemes that are not what they seem to be?
This has happened to me as well, that is why I now write reviews and do research on programs to help to stop this from happening to innocent people.
BitLocity is a cash gifting scheme! Is that a good thing Lisa? NO.
MLM companies are usually the promoters of this type of cash gifting scheme. They very rarely last long because they are illegal in nature.
I think very highly of you for investigating this review, it shows that you don’t just fall for any old BS. Keep doing it so you don’t get caught out by scams!
There are legitimate online businesses out there!
I can assure you 100% that I am not involved in this program at all.
This post may contain Affiliate Links. This means if you click on a link and make a purchase I could receive a small commission. The price you pay will not be affected.
P.s. I only recommend products that I actually use.
Let’s dive in and find out more about BitLocity.
Product Name: BitLocity
Who Owns It: Nobody knows (privately registered)
Type Of Product: Cash gifting scheme involving cryptocurrency
Price to Get Started: anywhere from $25 up to $100,000.00
What Exactly Is BitLocity?
BitLocity is nothing more than another multilevel marketing (MLM) opportunity, it has a bit of a twist to it.
Have you heard of crowdfunding?
According to Wikipedia, ” it is the ability to make small amounts of money from lots of people “.
With this company, you are supposed to be able to make money from lots of different levels.
I have found it very odd after doing over an hour of searching that I could not find out who has started this program. All I could find out was the company was registered privately back in 2020 the month of October.
Not been around for any length of time yet. Just 5 months. The main traffic seems to come from America.
Going onto the website I saw some videos where there were people that I have seen involved in this type of scheme before.
The first familiar face is Mark Hamlin we have seen him before in a program called Qtrex, this company came out earlier in 2020 and it is of the same vein as a bitcoin Ponzi scheme that is no longer running.
When watching the video Mark Hamlin says that he is now in charge of running the webinars for BitLocity.
It is not clear if Mark Hamlin is running the company but we do know that he has been involved with 2 other companies called We share crowdfunding and Forsage.
These programs were also Ponzi schemes.
Being an MLM company you would think that they would have some kind of product or services, apparently, that is not so.
The membership is all based on buying in at the level you choose.
Anywhere from $25 up to $1,000,000.00 a serious amount of money for no actual product.
Does This Program Work?
The program is defined as a cash gifting scheme and there have been tons of them that have started over the last few years.
Cash paid in and bitcoin paid out, this is just a simple way to not attract attention from the regulators.
Why would they be evading the regulators? that is because this sort of system is illegal.
Mr. Hamlin resides in Virginia and that is why the traffic is coming from America as that’s where the promotions are being run.
You only get paid if you recruit others into the scheme, there doesn’t appear to be any other method.
The authorities like the FTC and SEC may catch up to them sooner or later, Until that happens all we can do is read reviews like this one that warns of the dangers.
The Only Way To Earn From BitLocity
Earning commission from this scheme can only be achieved by recruiting people into your downline that then become your team.
BitLocity’s Membership Levels:
Bronze, starter – $25.00
Silver – $50.00
Gold – $75.00
Platinum – $100.00
Pearl – $200.00
Amber – $500.00
Ruby – $750.00
Sapphire – $1000.00
Emerald – $2000.00
Diamond – $5000.00
Double Diamond – $10,000.00
Blue Diamond – $20,000.00
Ambassador – $50,000.00
Crown Ambassador top-level – $100,000.00
As previously stated cash is paid in to get Bitcoin out.
The Compensation Plan For Bitlocity
In Theory, If you joined at the 10k level you would be paid back by any member that you recruited at any level below 10k and to include that 10k level.
Bronze And Silver Levels
Bitlocitys first 2 levels the Bronze and Silver are a straight line cycler where you keep the first one and the second one at that level is then passed up to another member.
The reason they are passed up is to open a space at the end of the cycler.
Gold And Higher Up Levels
These levels in the BitLOcity program still get paid to the recruiter but at this level, you now have to pay out an admin fee of $10.00.
You get rewarded for a certain amount of recruits and the admin fees are what is used to pay a bonus and they come from the third and tenth recruits.
3×1 Cycler Commissions Gold And Above Level
BitLocity has a 3×1 matrix pyramid cycler and the other half of the Gold commissions go to fund it.
You start at the top of this pyramid and there are 3 places under you. Once you recruit 3 people then that’s those positions filled up.
This gets a bit complicated but here goes. The first two positions were filled to generate a commission for the member at the top of the pyramid. ie you.
The third position then generates a commission for the upline member (that is the member who recruited the member at the top of the pyramid, whoever recruited you.
Top Recruiter Pool Payments
There is a top recruiter pool that is paid out every month to the top 10 recruiters half of the $10 admin fee goes into the pot for this.
How this is divided:
- the top recruiter in BitLocity for the month receives 20%
- the second and third top recruiters each receive 15%
- the fourth to sixth top recruiters each receive 10%
- the fifth to tenth top recruiters each receive 5%
What I Think Of BitLocity
This is a pyramid scheme that has cash gifting along with it.
These schemes are illegal and many have been shut down every year.
Forsage and Qtrex are just 2 examples of being shut down and they were run in exactly the same way.
Mark Hamlin, is believed to have been a part-owner of Forsage and Qtrex both known as Ponzi schemes, you can certainly find him on the web promoting those programs.
If he wasn’t involved why was he so prolific in all of the promotional material?
After searching for hours and watching videos I could not find one single pro, which is a very poor show!
Do I Believe That BitLocity Is A Scam?
I really can’t see anyone but the owners making any money from this cash-gifting Ponzi scheme that is illegal in America where it is being pushed out.
Not just illegal in America but also in every other country.
Recruitment is the only way to get any kind of payout. This can be difficult for any marketer of experience who doesn’t have a large following.
If you are a beginner you will have little to no chance. I know I tried something similar years ago!
How I Work Full-Time Online
After being bitten by MLM’s I have to say I’m not a fan of them. They are expensive to join and they rarely have a product worth the expense.
I work Full-Time doing Affiliate Marketing.
The reasons for this are very simple:
I don’t have to have a product
I don’t have to recruit anybody
It is totally free to get started
I can choose any company I wish to promote their products and this can be directly through the company itself and not through MLM’s.
Through affiliate marketing, I went from working a job that I hated to working full-time online in just 10 months.
It does take work and dedication but it is totally worth it to own your own business!