Is 10XBitcoin a Scam? – What You Need to Know Right Now
Welcome to my review of 10XBitcoin.
If you are thinking about joining this opportunity but are a little hesitant to do so and are suspicious of it all then you are in the right place. Maybe you are wondering is 10XBitcoin a scam, is it legit, is the training it provides any good… ??.. whatever the case may be. In this review I’ll be going over a few very important things that I think everyone should know beforehand.
10XBitcoin is a lot of things. It is an ad platform, traffic generation service, and provides marketing tools & cryptocurrency education. There is definitely a lot going on here and it can get pretty confusing.
They claim to be “a division of Deep Profit Streams”, which is a rev-share opportunity that was created in 2016. Like Traffic Monsoon, Deep Profit Streams had to shut down due to the FTC.
Many people believe that 10XBitcoin is basically a “reboot” of Deep Profit Streams. It was launched shortly after and is very similar with a little cryptocurrency twist added into the mix.
I really don’t want to go into detail too much on the products, for 1, because I don’t think they are important, and 2, because there just isn’t much details provided on them in the first place.
They claim to provide traffic via their ad network. They provide education & training on cryptocurrencies. They provide ICO alerts so that you can get in early on ICO’s. And lastly, they provide marketing & tools which are mostly used to promote 10XBitcoin to other people in order to get them to join… Which brings me to my next point…. most people that are joining this place are doing so to make money through the compensation plan, which is all about recruiting others to join in.
The products are not important and I’m not even sure that they all exist.
The Compensation Plan
The real opportunity here seems to mainly be coming from recruitment of other members. The compensation plan is pretty massive and goes down 15 levels. It is a 2×15 matrix. That means there are 15 levels and each level doubles in size.
So below you there will be 2 positions open. And below those 2 people there will be 4 positions open, and so on.
You will earn commissions from the monthly fees that are paid by the members beneath you on the pyramid. The amount you will earn is as follows…
- Levels 1 through 8 – 5%
- Level 9 – 4%
- Levels 10 through 13 – 3%
- Level 14 – 4%
- Level 15 – 5%
And the amount you will make will depend on the membership that these people beneath you have. There are 7 different tiers that include the Bronze Matrix, Silver Matrix, Gold Matrix, Platinum Matrix, Diamond Matrix, Double Diamond Matrix, and the Titanium Matrix. These range in price from $5 to $1,000 per month.
Besides the monthly commissions you can also get what they call a Fast Start Bonus. These are common with mlm’s like this. What happens is you will get a bonus after you refer 3 other members to buy in. The amount you will make will range from $1.50 to $300 per positions depending on what tier they buy in at.
Why People Are Joining & Promoting This
It seems that just about everyone out there that is promoting this is doing so to make money. I don’t really see anyone that is joining for the education or the training, etc. I mean I’m sure there are some that are but there definitely are not many.
People are buying into this to make money online and then are making money online by selling it to others. That is how it works. You buy in and invest money and then you make money by getting other people to buy in and invest money of their own.
Pyramid Scheme Possibly?
I know there are going to be tons of people asking this question so I’m going to address it here.
This does seem very much like a pyramid scheme and I am a little suspicious of it due to the many pyramid schemes that are popping up everywhere capitalizing on all the cryptocurrency hype.
However, there is really not enough information out there for me to say whether it is for certain. I would need to see their revenue and where it comes from. This is a job for the FTC.
What I Think
This seems to be a big money making scheme. The products it claims to have seem to be more of a cover than anything else. There is not much focus put on them and most of their efforts are on promoting the memberships and getting members to recruit other people in.
It might not be a pyramid scheme but it certainly is a shady scheme that I don’t see much value in at all. They don’t really provide much in the way of value. As I said, the products aren’t the focus here.
If what I think is true then there is no good future for 10XBitcoin. They are looking at either getting shut down by the FTC or they are looking at imploding whenever the steady stream of new investors stops pouring in, which is bound to happen.
For a business to operate legitimately and survive it has to meet some demand and it has to provide value. This business does neither. There is demand for advertising and cryptocurrency education of course but this place does not do a good job at providing it.
I just fail to see the value in this place. It definitely seems like a shady scheme designed to sucker people into buying in with hopes of making lots of money.
One Thing To Know
One thing to know is that it will not be easy to make money even if you do focus on recruitment a lot. The reason is because this is a mlm with 15 levels. There is a lot of potential to make money when you have tons of people beneath you but when you start out this just makes it more difficult for you.
This is because the money that you could potentially be making is getting taken away and paid to people above you up to 15 levels.
Final Thoughts & What I Recommend
One thing is for sure… I certainly will not be investing in this opportunity. There are just too many shady aspects of 10XBitcoin that lead me to believe this place isn’t very legitimate. I have seen too many similar scams like this to trust this place. Some very similar suspicious opportunities include iCoin Market, Bitpetite, The Ethereum Code, and many more.
When it comes to making money online there are a lot more scam programs that just waste your time and drain your bank account than legit good opportunities that I can actually recommend. However there are legitimate ones out there but finding them is the hard part. If I was in a situation with a gun to my head and asked: what is the best program out there? This is it. I have been a member since 2015 and it took me from nothing at all to making a living online.
Questions or comments? Leave them below and I’ll get back to you 🙂