We Grow Bitcoins, found online at WeGrowBitcoins.com, is a multilevel marketing company that promises to grow your bitcoins exclusively through referrals. Here’s our We Grow Bitcoins review.
What Is We Grow Bitcoins?
WeGrowBitcoins.com is a company that promises to help you make money exclusively through referring other people to the platform. The company describes how there are “no products to sell” and “no monthly fees”. All you need to do is pay your fee, then convince other people to join beneath you, and convince those people to recruit even more people.
We Grow Bitcoins pretty much admits that it’s a pyramid scheme on the official website. Typically, companies have some vague product or service that hides the fact they’re a pyramid scheme. However, We Grow Bitcoins specifically claims they have “no products to sell”. The only product being sold is company memberships.
Obviously, this is a huge red flag. Let’s take a closer look at how We Grow Bitcoins claims to work.
How Does We Grow Bitcoins Work?
The process of joining the company is straightforward. You register, pay your fee, then start building your down-line by referring people beneath you. Here’s how it works:
Step 1) Register online using the fast and simple registration firm.
Step 2) Refer friends and start building your downline.
Step 3) Receive “donations” from your downline. We Grow Bitcoins has automatic donations between members based on a peer-to-peer system. Money is deposited directly into your BTC wallet with no administration fees.
We Grow Bitcoins Features
Some of the key features of the platform include:
- Fast cycling matrix with fast and easy level progression
- “Totally free and no administration fees”
- Member to member automated wallet donations based on a P2P system
- Make 62.97 BTC (about $150,000) per cycle, according to the official website
We Grow Bitcoins Pricing
Some members on the official website claim to have paid as little as $9 to join the company. Today, however, the entry fee is 0.01 BTC ($24 USD). You’ll need to add slightly more money to your Bitcoin account to cover the small transaction fee (about 0.015 BTC, which is standard on the BTC network).
When you join, your 0.01 BTC fee qualifies you for the first level, “Plant” of the pyramid scheme.
If you want to advance a level, you’ll need to pay 0.03 BTC for level 2 and 0.50 BTC for level 3.
We Grow Bitcoins Levels
We Grow Bitcoins has three levels. Here’s how each level works:
- Level 1 – Plant: You pay 0.01 BTC to join, and receive 0.05 BTC from a maximum of 5 downlines.
- Level 2 – Grow: You pay 0.03 BTC to join, and receive 0.75 BTC from a maximum of 25 downlines.
- Level 3 – Harvest: You pay 0.50 BTC to join, and receive 62.5 BTC from a maximum of 125 downlines.
As you can see, the company really buys into the whole “gardening” theme of growing your bitcoins.
Who’s Behind We Grow Bitcoins?
We Grow Bitcoins was created by MegaBTCSolutions. The company describes themselves as “an elite, successful and experienced group of administrators”. No further details are available on WeGrowBitcoins.com.
However, MegaBTCSolutions is the same company that has launched other bitcoin-based MLM schemes in the past. The company launched AmazeBTC in 2016, for example. The AmazeBTC website is virtually identical to the We Grow Bitcoins website, and the company works in a similar way.
Regardless of where you look, there’s no information about the development team available online. However, you can contact MegaBTCSolutions by email at [email protected]
Is We Grow Bitcoins A Scam Or Pyramid Scheme?
We Grow Bitcoins addresses the whole “pyramid scheme” issue in its FAQs section. The company claims they’re not a pyramid scheme because “a pyramid scheme means only the top members of the hierarchy get paid whereas WeGrowBitcoins allows every member to earn the same amount.”
Uhh, I’m not sure where We Grow Bitcoins got that “pyramid scheme” definition, but it’s totally inaccurate. Based on all of the information we can see on the official website, WeGrowBitcoins.com is totally a pyramid scheme.
You pay to join the company, and that fee gets sent up the pyramid. Then, you build out a network of downlines below you to build the base of the pyramid.
Ultimately, We Grow Bitcoins appears to be a scam. The company behind We Grow Bitcoins refuses to give any details about itself, and they’ve been associated with similar pyramid schemes (including AmazeBTC) in the past.
Remember: the bitcoin industry is filled with scams right now. It’s a minefield out there. There are companies like We Grow Bitcoins trying to take advantage of newbie bitcoin users. Based on all of the information we can find on their official website, We Grow Bitcoins is a pyramid scheme and is not worth your time or attention.