Bitcoin Bank Cycler provide no information on their website about who owns or runs the business.

The Bitcoin Bank Cycler website domain (“bitcoinbankcycler.com”) was privately registered on January 25th, 2017.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.

Bitcoin Bank Cycler Products

Bitcoin Bank Cycler has no retailable products or services, with affiliates only able to market Bitcoin Bank Cycler affiliate membership itself.

The Bitcoin Bank Cycler Compensation Plan

Bitcoin Bank Cycler affiliates purchase positions in a three-tier matrix cycler.

Matrix sizes used in the Bitcoin Bank Cycler cycler are 2×1, 4×1, 8×1, 16×1 and 32×1.

A 2×1 matrix places an affiliate at the top of a matrix with two positions below them to fill. Positions are filled via position purchases by new and existing Bitcoin Bank Cycler affiliates.

  • a 4×1 matrix has four positions to fill
  • an 8×1 matrix has eight positions to fill
  • a 16×1 matrix has sixteen positions to fill
  • a 32×1 matrix has thirty-two positions to fill

When all positions in a matrix are filled, a “cycle” is triggered and a commission paid out.

How much of a commission is paid out is determined by which tier of the cycler a position has cycled out of.

Bitcoin Bank Cycler offer three tiers; Silver, Gold and Platinum.

Silver

A Silver position purchase costs 0.028 BTC and provides a 0.0022 BTC Silver cycler position each week for ten weeks.

  • Stage 1 (2×1 matrix) – 0.0011 BTC commission and cycles into Stage 2
  • Stage 2 (4×1 matrix) – 0.01342 BTC commission and cycles into Stage 3
  • Stage 3 (8×1 matrix) – 0.0145 BTC commission and cycles into Stage 4
  • Stage 4 (16×1 matrix) – 0.349 BTC commission and cycles into Stage 5
  • Stage 5 (32×1 matrix) – 13 BTC commission and generates fifty-two new Stage 1 positions

Gold

A Gold position purchase costs 0.07 BTC and provides a 0.058 BTC Gold cycler position each week for ten weeks.

  • Stage 1 (2×1 matrix) – 0.0016 BTC commission and cycles into Stage 2
  • Stage 2 (4×1 matrix) – 0.0046 BTC commission and cycles into Stage 3
  • Stage 3 (8×1 matrix) – 0.1378 BTC commission

Platinum

A Platinum position purchase costs 0.13 BTC and provides a 0.0108 BTC Gold cycler position each week for ten weeks.

  • Stage 1 (2×1 matrix) – 0.0016 BTC commission and cycles into Stage 2
  • Stage 2 (4×1 matrix) – 0.0191 BTC commission and cycles into Stage 3
  • Stage 3 (8×1 matrix) – 0.1946 BTC commission

Referral Commissions and Matching Bonus

Each Silver, Gold and Platinum position purchase generates referral commissions and a matching bonus.

A Silver position purchase generates

  • a 0.0022 BTC referral commission for the recruiting affiliate and 0.0011 BTC bonus for the second, third and fourth uplines
  • a matching bonus of over 3.26 BTC

A Gold position purchase generates

  • a 0.0054 BTC referral commission for the recruiting affiliate, 0.0022 BTC for the second and third upline and 0.0011 BTC for the fourth upline
  • a matching bonus of over 13.03 BTC

A Platinum position purchase

  • a 0.0109 BTC referral commission for the recruiting affiliate, 0.0054 BTC for the second upline, 0.0033 BTC for the third upline and 0.0022 BTC for the fourth upline
  • a matching bonus of over 26.05 BTC

Joining Bitcoin Bank Cycler

Bitcoin Bank Cycler affiliate membership requires the purchase of a Silver 0.028 BTC, Gold (0.07 BTC) or Platinum (0.13 BTC) subscription every ten weeks.

Conclusion

The only source of revenue in a cycler is affiliate investment in positions. The use of this revenue to pay cycle commissions (which are effectively a ROI on investment into a position), makes Bitcoin Bank Cycler a Ponzi scheme.

Despite the obvious fraudulent nature of its business model, Bitcoin Bank Cycler claims it’s above board.

Is BitcoinBankCyler an Hyip,Ponzi,Pyramid or an illegal scheme?

No, this is not an investment site nor is it illegal in any way, shape, or form.
We sell Products including advertising services.

Whether “products” or “advertising services” are bundled with Ponzi cycler positions is irrelevant. Using newly invested funds to pay off existing investors is still financial fraud and illegal the world over.

In a cycler Ponzi, once affiliate recruitment dies down so too do position purchases. New position purchases in Stage 1 of the cycler are required to push positions through all tiers.

Of particular note is the Silver cycler tier, which generates fifty-one phantom positions at Stage 5.

It will only take a few cycled positions out of Stage 5 (preloaded by the admin) to completely flood the Silver tier. These positions starve the system of revenue because they withdraw from the system without contributing new funds.

Company-wide if position purchases drop too much or cease altogether, matrices within the cycler stall and the scam collapses.

This sees the majority of affiliate lose money, with the anonymous Bitcoin Bank Cycler affiliates also making off with funds attached to uncycled positions.