BitTrain
  • Long-Term Earning Potential
    (1)
  • Training Quality
    (1)
  • Features
    (1)
  • Support
    (1)
  • Short-Term Earning Potential
    (1)
  • Value for Money
    (1)
Overall
1
Comments Rating 0 (0 reviews)

Summary

BitTrain looks like an ICO cryptocurrency investment opportunity but is almost certainly a Ponzi scheme.

See the review below for full details.

Overall: avoid.

Pros

  • None.

Cons

  • Probably a fraudulent Ponzi scheme.
  • You could lose a lot of money.

Opinion Disclaimer: the content in this review is ultimately a reflection of my own opinions and is not intended to malign any religion, ethnic group, club, organization, company, individual, anyone, or anything.

Name:BitTrain
Website:BitTrain.org
Real owner:Unknown
Platform:Independent
Type:Crypto ICO – probable Ponzi scam
Price:$100 – $250,000
Trial?Free to open account
Money-back guarantee?No
Rating:< 1 / 5
Recommended?No
How to join?Referral link only (not recommended)

Have you been keeping up with the Online Income Solutions blog?

If so…

Then you’ll know that the popular Workmines website turned out to be a Ponzi scheme…

And recently collapsed.

Causing many folks to lose their initial investment – with little hope of ever getting it back.

But that’s not all.

I did some more digging around and it looks like WalletSync is a clone of the Workmines scam…

And will more than likely go the same way in the near future.

As such?

I’ve really gone to work to try and uncover as many of these cleverly crafted Ponzi investment scams as possible to help keep you safe.

And as I’m about to reveal in this honest BitTrain review…

This seemingly convoluted ‘business opportunity’ could end up costing unsuspecting ‘investors’ $10,000’s or even $100,000’s.

Here’s why.

Screenshot of BitTrain Website.

Image source: bittrain.org

What is BitTrain?

The front-end of the BitTrain website tries to portray itself as a Bitcoin ICO (‘initial coin offering’) investment opportunity.

With the sub-function of supposedly allowing you to trade on the ‘BitTrain Cryptocurrency Exchange’.

The investment aspect pertains to something called a ‘BTRC token’ – which BitTrain claims is their ‘own cryptocurrency’.

The BTRC token is presented as BitTrain Coin on the main website and is supposedly a ‘…new decentralised cryptocurrency based on mathematical algorithms… born out of the success of BitCoin’.

The BitTrain Coin is supposedly going to rise in value from $5,000 in August 2019 to $50,000 in August 2020.

The complex ICO Whitepaper on the BitTrain website tries to justify this more than likely ‘absurd’ exponential growth curve based chiefly on the qualities of the BitTrain Exchange.

Where transaction fees have supposedly been removed.

Screenshot of the BitTrain Coin Expected Value Growth Chart.

The bottom line?

BitTrain want you to give them money so they can grow the value of their own BitTrain Coin.

And you’ll supposedly make a profit when the value of BitTrain Coin rises.

But as I’m now about to reveal…

I don’t think that BitTrain is a legitimate ICO opportunity.

Here’s why.

How Does BitTrain REALLY Work?

I’ll go into the exact details of my justification in the second half of this BitTrain review.

But I strongly suspect that BitTrain is actually a Ponzi scheme scam.

With a recruitment structure that follows that of a pyramid scheme.

Ponzi schemes are a form of fraud that takes the money provided by new ‘investors’ to pay the existing ones – without either party knowing.

The problem with Ponzi schemes is that they eventually collapse because it’s impossible to maintain an indefinite supply of new funds because there are only a finite number of people on the planet.

Pyramid schemes are also doomed to failure due to the same reasons.

This video explains in more detail the differences between Ponzi and Pyramid schemes.

Video credit: NowThis World

Is BitTrain a Scam or Legit?

In my opinion?

BitTrain is primarily a Ponzi scheme scam.

But also employs a recruitment strategy that follows the same pyramid structure that’s aligned with the unilevel and binary compensation plans that are common to MLM (‘multi-level marketing’) schemes.

If BitTrain is Paying Out – How is it a Scam?

This is the real problem with Ponzi schemes.

Because when the first few rounds of investors get paid – they erroneously assume that the scheme is legit.

But what they haven’t yet realised is that this is just a confidence trick to dupe existing investors into dumping larger and larger sums of money into the fraudulent scheme.

And the false air of legitimacy also serves to mislead others into joining the scheme under false pretences.

How Much Does it Cost to Join BitTrain?

The investment plans are as follows:

Starter Pack:$100
Medium Trader:$250
Active Trader:$500
Advance Trader:$1,000
Pro Trader:$3,000
Tycon Trader:$5,000
Elite Trader:$10,000
Premium Trader:$25,000
Combo Trader:$50,000
Mega Combo Trader:$100,000
Millionaire Combo Trader:$250,000

Can You Make Money With BitTrain?

Technically?

Yes.

You could make money with BitTrain if you join up when the scheme is still paying out.

All packages promise a weekly ROI of 8%.

But I strongly recommend that you do NOT join BitTrain and invest any money.

Here’s why.

What Are the Risks?

The real risk is that the scheme is closed down before you’re able to recoup your initial investment.

This could potentially lead to losses that run into the $10,000’s or $100,000’s if you purchase any of the top-tier investment packages.

With no way of getting your money back.

When Will BitTrain Collapse?

BitTrain will collapse and stop paying out when the people behind the fraud decide to run off with everyones’ money.

This usually happens when recruitment starts to dry up and fresh cash is not entering into the scheme.

But there’s no telling when this might be.

Here’s Why I Think BitTrain is a Scam

In my opinion?

Here are the specific reasons why I think that BitTrain is a scam.

Feel free to add your own observations in the comments section at the end of the post.

1: Fits the ‘Ponzi-Token’ Structure

I strongly suspect that when you purchase an investment package…

Part of that money is taken to pay some of the existing investors whilst the remainder is pocketed by the owners of BitTrain as a profit.

And the ‘coin packages’ are used as ‘tokens’ to create the illusion that you’re getting something ‘tangible’ that’s going to supposedly rise in value.

But even if BitTrain was a legitimate ICO…

There’s absolutely no guarantee that BitTrain Coin is going to rise in value at all.

2: Relies Upon Pyramid-Based Recruitment

But…

How do I know that BitTrain ISN’T a legit ICO?

Because I saw no mention of any trading exchanges upon logging into my BitTrain membership area.

But I instead saw a heavy focus on recruitment.

Screenshot of BitTrain's Recruitment Scheme Framework

And why is this a problem?

Because instead of using a single-tier affiliate scheme…

The BitTrain recruitment plan is structured in line with the unilevel and binary compensation plans that are common to many MLMs.

The bottom line?

As I said earlier…

This pyramid framework is ultimately doomed to collapse.

Because this geometric arrangement cannot continue indefinitely.

Resulting in a loss of capital for the later recruits who couldn’t recoup their initial investment in time.

3: Unrealistic Earning Claims

In addition to promising a rather staggering 8% ROI each WEEK for all of the investment packages…

The projected values for the worth of their coins is utterly ridiculous.

Because given the current market conditions…

BitCoin itself has little chance of reaching $50,000 in the next year.

Nevermind BitTrain Coin.

Screenshot of the BitTrain Investment Packages.

Conclusion: Almost Certainly a Ponzi Scam

In my opinion?

BitTrain is a Ponzi scam.

My main line of reasoning stems from the unrealistic earning claims coupled with the pyramid based recruitment structure.

I personally believe that BitTrain is going to end up costing many unsuspecting people a lot of money.

That’s why I strongly advise that you stay well away from BitTrain.

And instead use the buttons at the end of this post to share this BitTrain review on social media to help warn others.

Pros

  • None.

Cons

  • Probably a fraudulent Ponzi scheme.
  • You could lose a lot of money.

What’s the Alternative to BitTrain?

Investing in ICOs is risky.

Because even if you managed to pick a legit one out of the many scams…

You’re not really in control of your money.

One alternative would be to learn how to trade the financial markets yourself.

But I personally decided to give up on this after much studying because it was just so difficult to gain a legitimate edge to yield consistent returns.

And instead?

I decided to create my OWN profit-producing asset.

In the form of a website that I then monetised using affiliate links.

Where I would make money each time one of my website visitors clicked an affiliate link and bought something.

I’ve now actually created many websites like this over the years.

And they have helped me make 5-figures online in passive income.

Which has seen me earn as much as £600 in a single day.

Screenshot of My Earnings from Wealthy Affiliate

Now…

Setting up and monetising a website is actually quite similar to investing.

Because you’ll have to be patient in the beginning.

Since you’ll be doing a fair bit of work for little financial reward.

But if you stick with it and keep building out your website…

You’ll end up with an asset that can make you a lot of money for many years to come.

And if you click the button below…

I’ll reveal the EXACT resource that’s helped me set up and monetise multiple websites.

And I’ll show you how you can get started on the same path right now.

But without having to worry about getting ripped off by dodgy sites like BitTrain.

Do you want to make money online?
Yes - show me how!

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