What Is Bit Cash Mine?
Bit Cash mine is essentially another MLM Ponzi scheme focused around cryptocurrency. They are based out of Mexico according to the website, but the address on the website seems to be very incomplete.
How Bit Cash Mine Global Bitcoin Multiplier Investment Program Work
The company has no real products of any nature, so this is a hard question to answer. The real purpose of the company is to bring people in through the affiliate program and get them to invest funds into the company with the promised 200% ROI which is ridiculous.
There are quite a few outrageous claims on the website including the various plans as follows:
- Plan 100 – invest $100 and receive a $200 ROI
- Plan 200 – invest $200 and receive a $400 ROI
- Plan 500 – invest $500 and receive a $1000 ROI
- Plan 1000 – invest $1000 and receive a $2000 ROI
- Plan 2000 – invest $2000 and receive a $4000 ROI
- Plan 4000 – invest $4000 and receive an $8000 ROI
- Plan 8000 – invest $8000 and receive a $16,000 ROI
- Plan 16,000 – invest $16,000 and receive a $32,000 ROI
Not only that, but there is an initial $20 registration fee as well. Something else that seems a bit ridiculous considering the amount needed to be invested. They ask affiliates to keep their investments in the company for at least 40 days, which is more than enough time to take a lot of money from a lot of people.
The also pay a 10% referral commission for anyone who brings them new recruits. Whether they actually get paid out or not is yet to be seen. The compensation plan doesn’t get very clear on payouts or how the 10% commission works.
There is also promised residual commissions that are paid via a binary infrastructure. The structure is a pyramid scheme with one affiliate sitting at the top and the rest below them. Everything this company does, points to scam.
There re multiple levels to the structure. Two positions mark the points for the team’s house. The first level has two positions, the second level splits the first two under two more for a total of 4 positions. Lower levels are then branched off as needed with each house holding twice as many as the previous.
At the end of each day, the company then ads up the new investments and pays out a 10% commission on matched funds supposedly. The rest are carried over. There is also a daily cap regardless of the amount of money that operates as follows:
- Plan 100 – $200 a day
- Plan 200 – $400 a day
- Plan 500 – $1000 a day
- Plan 1000 – $2000 a day
- Plan 2000 – $4000 a day
- Plan 4000 – $8000 a day
- Plan 8000 – $16,000 a day
- Plan 16,000 – $32,000 a day
Everything is said to be paid in a lump sum at the end of each week. They then reinvest some of the money into another matrix. There are more positions and the explanations of all this goes on in the same manner.
It’s a bunch of pyramids and matrixes that are all very shady in appearance and likely don’t operate as promised. Career bonuses are promised as well for the affiliates that bring in the most people in the fastest amount of time and stay around. There are multiple levels of affiliates that each pay out different amounts, but none of it is very clear or proven.
They basically want each person to invest at least $4000 to really start making money. It’s a big investment for a company that is very shady without any proof of operations. They claim to be operating on a global scale, but there I no inclination as to how or when anyone has actually been paid out.
Who Is Behind Bit Cash Mine?
CEO of the company Jhon Jhaider Romero Montoya also owns another website and claims to be a neuro emotional coach. If you look at his Facebook, he appears to be based out of Colombia. And as far as can be seen, this is first MLM/Cryptocurrency venture of any type.
Bit Cash Mine Conclusion
The claim to have more than 20 years of experience in the industry. But that’s not even really possible, instead, Bit Cash Mine seems to be a fictitious business that is likely just ripping people off. The final verdict is to stay away from this company at all costs and to protect yourself, so you don’t wind up getting ripped off entirely. There are much safer investments on the market that are real.