BCoinShare Review – Is this a legit business or a scam?
You may have noticed that BCoinShare is getting a lot of hype and attention these days.
You might have had some friends in Network Marketing approach you about BCoinShare, or you may have seen it on social media.
I want to let you know, first of all, that I am NOT promoting BCoinShare as my own business opportunity. I am not an affiliate or distributor.
I have gathered here all the facts about BCoinShare in my BCoinShare Review – now you can learn all you need to know about it.
Is BCoinShare really a legit business?
Is BCoinShare a safe business to join?
Let me show you in my review of BCoinShare.
Exactly What Is BCoinShare?
BCoinShare is one of the most recent MLM opportunities to hit the scene, and right off the bat, things don’t look all that great for this particular opportunity.
When looking at the official website for BCoinShare, there’s a noticeable lack of any sort of background info, and although this is becoming more and more prevalent with recent MLM startups, it’s a move that I’m never keen on seeing.
There’s no info at all with BCoinShare’s website in regards to who owns the business, who’s running things on the executive level, etc.
It’s rather troubling as to how little of info is actually offered here, and this is a move that you would never see with a legitimate opportunity in the MLM landscape.
With the website being the way it is, I decided to take my research to the domain name registration for it.
Although hopeful going in, that hope was quickly whisked away.
The registration showcases that the domain was first registered on October 18th of this year (2016), but data on who was behind it or where the registration took place is entirely unknown.
This is because the registration is set to a private state, and this is a move that is usually most common with schemes and scams.
I was able to find an official Facebook group of BCoinShare, with someone by the name of Mike Anderson appearing to be the one and only admin for it.
I looked into Anderson’s profile to see if I could learn a bit more about the man, but this resulted in even more bad news.
Here’s the thing.
Mike Anderson’s profile was just created on September, 29th, 2016, and is filled with nothing but marketing and promotional material for BCoinShare. This is a telling sign that Mike Anderson doesn’t actually exist, and that the account is completely fake.
What Is The BCoinShare Product Line?
Unfortunately, the bad news doesn’t stop coming.
BCoinShare is one of those opportunities that has made the move to not offer any sort of product line with their opportunity, and this is one of my least favorite things to see when conducting these reviews.
Product lines are absolutely essential for any legit MLM opportunity to survive, and when one doesn’t exist with a company like BCoinShare, that often means that the majority of all the funds are coming from affiliates themselves.
That right there is never a recipe for success. Instead, it’s usually a recipe for a nasty scheme.
What Can You Tell Me About The Compensation Plan For BCoinShare?
So, with no product line in place, what kind of compensation plan does BCoinShare have to offer?
In this case, we’re looking at a setup in which affiliates gift money to one another for the chance to get placed within a 2 x 10 matrix.
As all 2 x 10 matrices go, the matrix is completed once all of the 2046 positions have been filled. This takes place through the use of both direct and indirect recruitment methods, and when an affiliate gifts money to another affiliate, they essential “unlock” a new level of gifting that they then move up to.
This whole process is started when a new recruit gifts 0.04 BTC to the affiliate that got them to join the company, and this then makes the new recruit eligible to receive two payments of 0.04 BTC from other affiliates within the company.
This process goes on and on for ten total levels, with each level requiring you to gift more to other affiliates. However, in addition to costing you more, it also allows you to earn more money in the form of larger gifting payments from more and more affiliates.
For example, the tenth and final level allows you to receive 0.5 BTC from one thousand and twenty-four affiliates after you gift 0.5 BTC.
What’s worth noting here is the fact that the payments you gift are on a subscription basis. This means that all payments need to be sent out on a recurring manner, but BCoinShare doesn’t indicate how often this actually is.
What Will It Cost To Join BCoinShare?
To join BCoinShare as an affiliate, you’ll need to gift at least 0.04 BTC. However, if you’d like to fully participate in everything being offered, you’ll need to kick up that number to 3.12 BTC.
Keep in mind here that those amounts need to be gifted on a regular basis. They are definitely recurring payments, but I wasn’t able to find any info as to how often they actually need to occur. We could be looking at months, weeks, or even days.
Is BCoinShare A Scam?
If you have heard that BCoinShare is a scam, then you’ve come to the right place to find out the truth.
What’s the truth – is BCoinShare a scam?
I would say not exactly. However, there are some things to be aware of before joining, which I have detailed in the conclusion.
You will only be successful by recognizing the weaknesses and finding a way to move past them.
Conclusion For My BCoinShare Review
With all of this info laid out on the table, it shouldn’t come as too much of a surprise at all that BCoinShare is a rather typical cash gifting scheme.
Affiliates join the company, gift money to the affiliate that recruited them, and they are then eligible to receive gifted payments from other affiliates within the company.
There isn’t anything at all being sold to retail customers, meaning that all of the money being sent with these payments are coming directly from the pockets of other affiliates.
As all cash gifting schemes tend to go, BCoinShare will run into trouble when recruitment levels die down. This will cause the company to face a complete collapse, resulting in the anonymous admin(s) making off with the lion’s share of the earnings.
The majority of everyone who gets involved will end up losing out, and to add insult to injury, the use of bitcoin means that it will be next to impossible to recover any lost funds.
I definitely hope you have found value in my Review of BCoinShare.
I went into a lot of detail so that you can make a proper decision about whether you want to join or not.
If you do decide to proceed with BCoinShare, make sure you take the time to learn how to market yourself!
My training below can help you with that.