Bitclub Network Review – Ponzi Scam or Legit Opportunity?

Finding a solid Bitclub Network review is not the easiest thing as most people are just trying to get you to join them so that they can make money.

Most people are in this “business” and don’t even know how it works themselves, which I think is really, really sad.

All they know and think is that they are invested into some Bitcoin and someone is in the background mining more Bitcoins so that everyone else can make money.

Add trading to this and you’ll have the same formula that Master Coin Plus and other scams are using to reel in new customers.

There are literally hundreds of sites that focus their attention on Bitcoins and digital currency simply because it’s what’s hot right now, so what makes the BitClub Network “the one”?

Let’s dig a little deeper so we can see what this site is really about.

BitClub Network Review

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If you are in the game of making money online chances are you know about bitcoins.

To refresh the minds of those who may have forgotten, bitcoin is a “new” form of currency that eliminates the need for a middle man.

People use them for online payments and transactions: they’re bankless and nameless which of course has yielded the system a great deal of controversy over the years but that isn’t actually exactly what we are here to discuss.

No, today we are going to be going over the BitClub Network, how it works, and whether or not it is a legitimate financial opportunity, or a scam.

Let’s take a look.

Product Overview

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Before we get into what the company is really about, you always want to know who owns and runs it as well as what they claim they are about.

Just like I expected, Bitclub has not tangible products but rather a system from which you can make money through different methods that the company claims as well as through their typical recruitment of others.

There is no indication of who owns the site but you do get the very standard “about me” script that all Bitcoin MLM sites are using these days.

“Not owned by any single person”

That alone throws an immediate red flag of the company but that’s just one of the many.

So What Exactly is BitClub and How Does it Work?

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In a sense, BitClub is sort of like the stock exchange for bitcoins.

Here’s how it works: Through the BitClub site, you buy bitcoins.

How many is up to you, but the promise is that the more you buy, the more money you are going to wind up making.

The idea behind bitcoins as an investment opportunity in the first place is that their value is, as of now on the rise.

Of course, that value could drop at any time the same way that a stock’s could but that risk aside the theory behind the financial prudence of this investment is sound.

However, if the name of the investment game is simply buying bitcoins and waiting for the value to go up, you don’t really need a website like BitClub, right?

You can just purchase the bitcoins yourself, monitor their value, and sell when you are pleased with the profit margin.

This is certainly an option, and it is also the route I would take in this situation, but BitClub offers an alternative.

They don’t just sit on your money, they use it to make more money through something called “bitcoin mining.”

What is Bitcoing Mining?

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Bitcoin mining is a legitimate way to make money but it’s also very complicated.

Here’s the short of it: The bitcoin miner uses a specialized software in order to solve problems that correlate with the ledger information of other bitcoin transactions.

When these problems are complete, the bitcoin user is in turn rewarded with, you guessed it, bitcoins.

Like I said, this part of the system is legitimate, but the promise of a service bitcoin mining on your behalf might not be.

The Problem

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The problem is that we have seen this before.

Companies promise that if you invest your bitcoin with them they will double, triple, quadruple your money through bitcoin mining.

It’s the classic Ponzi scheme: the first few people that sign up for the service actually do make money: not through mining but because it is prudent for the operators of the site to award some cash.

After the initial investors circulate out, pleased with their transaction, the host site now has a reputation through which they can leverage more business.

Now they are recognized as a legitimate website, and as a result more people are drawn to their service.

The problem is that they never had any actual income.

Their entire capital base is predicated on what people give them.

In order to seem legitimate, they may continue to award profits but in these cases they are simply taking money from one account and moving it to another.

Some users are told their bitcoin yielded an investment return while others, unfortunately, lost out.

The site itself keeps the vast majority of the money never having done a thing to earn it.

It’s one of the risks of working on the internet, especially when you are dealing with a currency system that isn’t backed by any banks or centralized form of government.

It’s a drag, but it’s common enough not to be a surprise.

But What About BitClub?

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This brings us back to our initial question.

Is BitClub a scam, or a legitimate opportunity to make some easy money?

While it is hard to say (as again matters of this kind are not well regulated) I would say that it is not looking so good for BitClub.

Let’s start with the promises they make.

BitClub insists that for your investment you aren’t simply getting a return proportional to the value of your bitcoins.

No, they claim that you will make seven to eight times that much through their mining efforts as well as other incentives.

Anytime you see a claim of this nature it should be a huge red flag.

When a promise sounds too good to be true it generally is.

For me, I think that would be enough of a concern to end my interest in the site, but say you can overlook that bit as simply a piece of sleazy marketing.

Ok, let’s now examine a shadier aspect of their business model.

BitClub also incentivizes users to harvest more investors.

That’s right, for every new member that you bring to the site you are rewarded credits based off the size of your investment.

While to be fair, companies like Avon do have similar incentive programs for cultivating new employees, they also have years of credibility under their belts that BitClub cannot claim.

Not to mention actual products.

To me, this system is enough to confidently identify BitClub as a likely Ponzi scheme.

It is through this mechanism that they keep revenue flowing so that no one quite realizes that they aren’t actually doing anything.

BitClub Network is Nothing More Than a HYIP

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For those of you that don’t know what a HYIP is, it is nothing more than a high yield investment program, which is exactly what this is.

Everything about investing into Bitcoin is nothing but a front as the whole goal behind this scheme is to get new people to join.

To get started, it is going to cost you $99 just for the “membership” alone.

Then you would have to invest into one of their packages, which costs anywhere from $500 – $2,000.

The thing about these digital currency schemes is that they give you that 1,000 day window on earnings and all that does is stall the earning process so that others can join before things get out of control.

This is done because of the fact that HYIP’s usually go for only a few months and then they eventually come crashing down.

So 1,000 days is enough time for everyone to promote the hype, show that people are making money, and allow things to fly through the roof just like it has done in just the past year alone.

To answer the question of “can you really make money with Bitclub Network”, the obvious answer would be yes.

As long as you know that these funds are generated through the recruitment of new members then that’s really all you need to know.

In the end, that final decision is going to be up to you.

Final Verdict: Not Recommended

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These types of programs come and go just like what happened with other HYIP’s that use advertising as its product.

I was apart of quite a few of these in my online career and yes, I did make money but I can no longer support the people running them as they are the real winners.

Whether it’s through advertisements like revenue sharing or through digital currency like BitClub Network has, they are all the same thing.

A high yield investment program.

Yes, people are making money as of course this is the hottest topic on the internet but don’t expect this to last forever as once recruiting slows down, people will start complaining and eventually calling this a scam.

Some will jump into the next best thing while those that took a loss will probably think everything online is a scam.

That’s exactly how they all work and as much as we would love for them to keep paying, all things must come to an end.

Whether you think this is a scam or not is really going to be up to you.

You know exactly what you’re getting yourself into so if things don’t go as planned, you know who to blame.

Conclusion

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BitClub Network brings nothing new to the table and there are literally hundreds of the same exact programs out there.

My personal recommendation is to stay clear of this site or anything else like it.

Like I said earlier, when a program sounds too good to be true it probably is and unless you want to contribute to the owners of this ponzi’s bank accounts, this is the next hype based program you need to avoid.

There are plenty of certifiably legitimate ways to make money online, and if you don’t want to risk your time and money, I would recommend pursuing some of those and I recommend you try one called the Wealthy Affiliate.

You work too hard for your money to risk getting taken advantage of.

Thanks for reading my Bitclub Network review and if you have any questions, feel free to leave them in the comments section below and I will get back to you as soon as I can.

Thanks for reading!