BitLocity Review – Is BitLocity Legit?
Is BitLocity a crowdfunding crypto scam?
A great crypto business opportunity?
You are here reading my BitLocity review because you want to know if this platform is legit or not. You are probably looking for some answers and a way to make money online. Well, you are in the right place.
Here you’ll find out what BitLocity is, how it works, its products, compensation plan, and if this is the right opportunity for you. Of course, in the end, I’ll share with you my opinion about BitLocity and whether I recommend this company or not. So, when you finish reading this review you will have all the information you need to decide if BitLocity is the right choice for you.
The last thing you need is to waste your time and money on a program that doesn’t pay. And there are plenty of scams and pyramid schemes online looking to rip you off.
Now let’s take a closer look into BitLocity and find out how it works.
Disclaimer. I am not an affiliate or a member of BitLocity. My review is based on information available to everyone online. This review is my opinion and is based on my research. Results may vary and may not apply to all persons.
Owner: Unknown (at least to me)
Price: Minimum $25
Verdict: Not Recommended
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What Is BitLocity?
BitLocity is an MLM (Multi-Level Marketing) cryptocurrency educational platform that uses Bitcoin (BTC) instead of cash. It offers multiple levels of commissions and an opportunity to earn money by promoting your level and recruiting other people. To become a member, you need to have a cryptocurrency wallet and pay a fee of $25 for your first year.
Here is how BitLocity describes itself on its website:
BitLocity is an educational technology platform designed to educate people worldwide about blockchain technology and its potential impact on their daily lives.
Becoming a member gives you access to educational training and courses (based on your level), to the BitLocity app, to select a Contribution level, to promote your referral link and invite others to become members. Their website doesn’t offer a lot of information about what that training material consists of. According to some online reviewers the quality of the training is not that good. They describe it as nothing more than some basic and generic information about cryptocurrencies. But since I didn’t go through their training myself, I can’t comment on its quality.
I didn’t do that because I quickly realized there are many issues with this program. The biggest one being that BitLocity has all the characteristics of an MLM gifting scheme. Most of its revenue comes from recruitment and not from selling any products or educational courses. Members invest in BitLocity to buy a level so they can earn a commission by promoting it and recruiting new members.
Another red flag is that there is no information on their website about who runs or owns BitLocity. That is always a warning sign and a reason not to trust the company. Not that their site offers much information about anything else. The site doesn’t reveal much about the company or how it works.
Also, according to whois.com the domain name “bitlocity.io” was privately registered on October 28th, 2020. So, this program is only a few months old.
How Does BitLocity Work?
Bitlocity claims to be the “World’s first all-in-one decentralized program Technology, Educational, and Rewards Program”. That sounds great but based on my research BitLocity offers no retail products or services. Apart from some digital training information about cryptocurrencies, the only thing BitLocity seems to offer is an MLM plan.
You can join their income opportunity by investing in the program and buying positions in the compensation plan. There are 14 membership levels/tiers that you can buy. You have to buy each level individually to be able to earn from it. You can’t earn commissions from levels you haven’t purchased.
Here is a list of the various membership levels you can purchase:
- Bronze – $25
- Silver – $50
- Gold – $75
- Platinum – $100
- Pearl – $200
- Amber – $500
- Ruby – $750
- Sapphire – $1,000
- Emerald – $2,000
- Diamond – $5,000
- Double Diamond – $10,000
- Blue Diamond – $20,000
- Ambassador – $50,000
- Crown Ambassador – $100,000
The $25 per year membership fee is extra. All payments are paid out in Bitcoin. It’s quite clear that the amount of money you earn depends on the level you are at. The higher your level is the more money you will earn. So if you want to earn a lot of money you must first invest a lot of money. In total, you’ll need $189,000 to buy all levels.
As far as I know, each membership level comes with some sort of educational information. Now you can call me crazy, but I don’t believe that the training material is worth that much or that the people who buy these levels are doing so for the educational information they offer. You are paying for the right to recruit.
That’s not a way to make money online. The majority of people who join recruiting schemes like this one end up losing their money. When the recruitment stops (and it will stop) BitLocity will collapse.
Global Infinity Line
That’s the way to earn money without having to recruit anyone. At least that’s according to them. You can join the Global Infinity Line by investing $25 or $50. Everyone that joins BitLocity and buys one of the first two levels (Bronze or Silver) joins this line.
You receive a $25 payment from the two people who join the line directly after you. One of the payments is sent to you as profit and the other payment will buy you a new position at the back of the line. This process is repeated again and again even if you never recruit anyone yourself.
Gold & Higher Ranks
BitLocity uses a 3×1 matrix cycler. That means you have to recruit 3 members (3 positions below you). Each rank has its 3×1 matrix and once it fills you cycle out and another matrix is created. The first two payments (commissions) are yours and the third one is given to your sponsor. Your sponsor is the person who recruited you.
Every time you upgrade to a new level a new 3×1 matrix cycler opens up on that level. That means you could end up having 12 different (Gold to Crown Ambassador) cycle tiers, all operating at the same time. If one of your recruits buys a membership level that is higher than yours you won’t earn a commission. Those commissions are passed up to the next qualified member.
The Global Infinity Line and the Matrix compensation both run together at the same time.
Commissions generated by your 3rd and 10th referral are “passed up”. But your personal referrals have to do the same thing for you. They will pass up their 3rd and 10th personally recruited members to you.
There is a $10 administration fee for every commission generated in the system.
Top Recruiter Pool
Every month BitLocity awards its top 10 recruiters with some extra money. It takes $5 out of every $10 admin fee and places it into a pool for the top recruiting affiliates. That money is distributed each month between BitLocity’s best recruiters.
- 1st place – Top recruiter gets 20% of the fund
- 2nd & 3rd recruiter get 15% of the fund
- 4th to 6th recruiter get 10% of the fund
- 7th to 10th recruiter get 5% of the fund
Why I Don’t Recommend BitLocity
BitLocity is a platform I would never recommend to anyone because I believe it’s a waste of money. I would never join such a program so I can not recommend it. Their compensation plan may look interesting at first but in my opinion, BitLocity’s business model is nothing new. There are hundreds of similar programs online. It operates like a gifting scheme that uses Bitcoin instead of cash.
From what I have seen BitLocity’s income is generated exclusively from recruiting new members. That’s not an income opportunity. Some people may call that a Ponzi scheme. Buying membership levels and then trying to recruit others is a way to lose your money. Most people who join such programs never earn anything. Only the owners and the members at the top earn money.
I believe it’s up to the regulators such as FTC and SEC to determine if something is a scam or not. Not up to me. In my opinion, BitLocity is a bad MLM and a program I would never join. Once recruiting slows down BitLocity will collapse and the majority of its members will lose their money.
Now you have all the information you need to decide whether BitLocity is the right opportunity for you or not. Below is a list of the main things I don’t like about BitLocity:
- Unknown owner. No information on their site about who runs BitLocity.
- No retail products or services. There are no products to promote. Only membership levels. Other than that, there is nothing else.
- Looks like a pyramid scheme. BitLocity’s income comes from recruitment. The new members are paying for the existing members.
- Low earning potential. Recruiting others is not an easy task. Especially if you are promoting an “income-opportunity” that offers nothing. You are paying for the right to recruit. And your referrals will have to do the same. Once recruiting stops BitLocity will collapse.
- Complaints. BitLocity is a relatively new program but some users are already calling it a scam. Take a look at the following complaints I found on Trustpilot:
Would I join BitLocity? No. Based on my research and all the red flags I mentioned above I would avoid this platform. Many similar programs have been shut down due to fraud. I won’t be surprised if this happens to BitLocity one day too.
There is no product to sell here. If you want to earn commissions and make money you must recruit other people. You must first buy each and every level in order to earn from each one. You are paying to become an affiliate and promote tier levels.
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