Bitcoin MLM Scam Exposed
The growth of cryptocurrencies like Bitcoin and Ethereum has been staggering this year. Both tokens and many of the other alt-coins have experienced several hundred percent gains!
These recent price increases have generated a lot of interest from crypto newbies and investors. Not wanting to miss the “biggest thing since the internet”, people are rushing into the market, many of whom know nothing about Bitcoin and how it works.
Whenever there is a popular trend, especially one that involves money, there are always those looking to take advantage of the situation. Cryptocurrency is no exception.
The recent boom in cryptocurrency has given rise to a slew of scams. Multi-Level-Marketing (MLM). MLMs, use the promise of getting rich quick to seduce their victims.
In this video we break down how MLMs operate and how you can spot a Bitcoin MLM scam!
Reggie has years of marketing experience and understands the tactics the scam artists are using to take advantage of new investors. The most powerful investment in your life is your education. Take a few minutes to learn how you can protect yourself from Bitcoin scams!
The Pyramid Scheme
Many MLM companies are completely legitimate but several crypto companies have turned out to be pyramid schemes. Multi-Level-Marketing (MLM) requires the company to continually recruit more people to grow the entire network. Salespeople receive commision on their sales and the sales of others they recruit. The primary objective of MLM is to grow the distribution system in order to sell more product.
A pyramid scheme however, requires the company to continually recruit more people to fund the network. In a pyramid scheme the primary objective is to defraud investors of their funds.
Pyramid schemes will often use overly aggressive sales techniques because their very existence relies on a steady supply of new investors. If there is more emphasis put on recruiting rather than the sale of goods or services do not invest.
How to spot a Bitcoin MLM Scam
There are a number of red flags to look for when considering a cryptocurrency company. Here are some tips on how you can protect yourself from scams.
If it looks too good to be true, it probably is.
Have you come across advertisements like these while surfing the web?
“How to make millions with Bitcoin!”
“Double your cryptocurrency investment!”
Scam artists rely on the appeal of easy money to attract investors. If the promises being made by the company seem too good to be true, they probably are. Promises of high returns in a short time period are often signs of fraudulent activity.
Overly aggressive sales pitches with an emphasis on recruiting, may be signs of a pyramid scheme. Make sure you take the time to research the company or service you are considering. Check online review sites as well as the Better Business Bureau to see if there have been any complaints about the company.
Cryptocurrency Programs That Do It The Right Way
The most important thing any investor can do is educate themselves. Programs that promise knowledge and empowerment are where you want to invest your money. I am sure you have read the following quote before..
“Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime.”
The same could be said for cryptocurrency investing.
Give a man a Bitcoin and you feed him for a day, teach a man how to invest that Bitcoin and you feed him for a lifetime!
With Bitcoin at over $15,000, you can feed him a lot longer than one day, but you get the point.
Crypto Learning Academy
Programs like the Crypto Learning Academy focus on education. CLA provides subscribers with every tool they need to succeed. While CLA may speak of life changing opportunity and financial freedom, the emphasis is always about showing students they can change their own lives.
Investors don’t need shady “get rich quick” schemes, they need an education. Learning what cryptocurrency is and how it works will help you make better investment choices.
Crypto Learning Academy offers cryptocurrency courses and an online gamification platform that allows students to win real Bitcoin while learning. Instead of promising easy money, students are rewarded with real cryptocurrency for working hard.
If you are serious about your financial future consider joining Crypto Learning Academy.
You can get the first course free “How to Get Your First $100 in Bitcoin”
Get 5 Free Crypto Coins… use them to win Bitcoin!