MLS Bitcoin Club, also known as the MLS Bitcoin Instant Payment System, is an online scam targeted towards newbie cryptocurrency users. Here’s our review.
What Is MLS Bitcoin Club?
MLS Bitcoin Club, found online at MLSBitcoinClub.com, is a scam that promises to give you “all the bitcoin you want, need and desire!” The scam claims you can earn massive amounts of money with no work required. All you need to do is send your money to a mysterious bitcoin address, and you’ll instantly become rich.
That’s pretty much how this scam works. The “MLS” in the name of the program comes from the name “Massive Leverage System”. According to the official website, you can use this system to become a millionaire overnight.
There’s no information about the founders of the scam, their management team, or where they’re located.
How Does MLS Bitcoin Club Work?
MLS Bitcoin Club works like most other bitcoin scams we’ve seen on the internet: it’s a pyramid scheme. You pay to join. Then, you recruit new members through your referral link. You earn a cut of each member’s joining fee, and this continues until the pyramid scheme collapses.
There are no products or services being sold here. You’re just signing up for a website, and then trying to recruit as many people as possible.
Without doing any work on your own, according to the website, you can duplicate your bitcoin in a very short period of time.
As “proof” that MLS Bitcoin Club works, the website features fake testimonials from people who claim to have become overnight millionaires through the system. One person claims to have made $1,600 in their first 24 hours. That individual goes by the name “Big Mike”, although a quick reverse image search on Google reveals that he’s been featured on other scammy websites in the past.
Basically, your goal is to progress through as many levels of the pyramid scheme as possible. The company claims “you are tripling your bitcoin with one full cycle” when you move through this pyramid system.
MLS Bitcoin Club Education System
When a company doesn’t sell any products or services, but still charges a membership fee, we call that a pyramid scheme. To get around this law, many pyramid schemes will advertise some cheap, pointless service.
That’s why MLS Bitcoin Club has an “education system”, which claims to be “one of the best in the marketplace today”. The education system claims to teach you everything you need to know about bitcoin.
5 core topics are covered in this education program, including how to protect your bitcoin from hackers, the differences between wallets, how to build your own investment portfolio, and how to buy and sell bitcoin. It’s extremely basic information that you can find for free anywhere on the internet – so it’s certainly not worth joining the company.
Who’s Running MLS Bitcoin Club?
MLS Bitcoin Club, like most online scams, refuses to give us any information about its ownership, management team, location, or background. We don’t have any names, contact information, or location data for the company. There’s just one online email form on the official website.
WHOIS data shows us that the website was registered on May 4, 2017 – which is about the time most of today’s bitcoin scams started appearing online. The website is hosted with a Florida-based company called Dizinc.com, or Dimenoc, which just appears to be a datacenter. The name of the domain registrant is hidden.
MLS Bitcoin Club Conclusion
MLS Bitcoin Club is absolutely a scam. Like most other bitcoin scams, it makes absurd promises about your earnings potential, and claims you can earn an enormous amount of money without doing any real work. There’s some low-quality “education system” mixed in, although it just contains information you could find for free anywhere on the internet.
Based on everything we can see on the website, and the fact that the website refuses to disclose any information about its founders, we have to conclude that MLS Bitcoin Club is a scam, a pyramid scheme, a Ponzi scheme, or whatever else you want to call it.