Bitcoin Grower Review: Eight-level deep pyramid recruiting
Bitcoin Grower provide no information on their website about who owns or runs the business.
The Bitcoin Grower website domain (“bitcoingrower.tech”) was privately registered on January 13th, 2017.
the official Bitcoin Grower Facebook group currently has four members, only three of which show up.
Of the three none are credited as admin of the group, suggesting the fourth member might be behind the company.
Whether this is a Facebook glitch is unclear. I suspect the account used to create the Bitcoin Grower group might have been intentionally deleted.
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 Grower Products
Bitcoin Grower has no retailable products or services, with affiliates only able to market Bitcoin Grower affiliate membership itself.
The Bitcoin Grower Compensation Plan
Bitcoin Grower pay recruitment commissions via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Bitcoin Grower cap payable unilevel levels at eight.
When a new Bitcoin Grower affiliate signs up, they pay a 0.037607 BTC fee.
This fee is distributed upline over eight levels as follows:
- first level upline (the affiliate who recruited) receives $2
- second level upline receives $3
- third to fifth level uplines receive $4
- sixth level upline receives $5
- seventh level upline receives $6
- eighth level upline receives $7
In turn, as the affiliate recruits new affiliates into their unilevel team, they also receive upline payments from those recruited (payable down a maximum of eight levels).
Joining Bitcoin Grower
Bitcoin Grower affiliate membership is tied to a 0.037607 BTC fee.
Bitcoin Grower is a nice little money spinner for the admin(s) running the scheme.
You sign up, pay 0.037607 BTC (currently ~$49) and $35 of that is paid out through the Bitcoin Grower compensation plan.
In the affiliate backoffice, Bitcoin Grower’s admin(s) state
We do NOT change price so when Bit Coin goes up so does the cost to join so HURRY!
That means that although the USD value of 0.037607 BTC might go up, what they pay out on each unilevel level will remain the same.
The difference is pocketed by the Bitcoin Grower admin. If the value of bitcoin goes up, the difference pocketed is larger. If the value goes down, the difference is smaller.
Left unsaid is what happens if the value of 0.037607 BTC drops below $35.
Admin greed aside, Bitcoin Grower is an eight-level deep pyramid scheme.
Nothing is marketed to or sold to retail customers, with all commissions paid out tied to the recruitment of new Bitcoin Grower affiliates.
As with all pyramid schemes, once affiliate recruitment dies down so too will commissions paid out.
This will prompt a collapse, resulting in the majority of Bitcoin Grower affiliates losing money.