Bitcno provides no information on their website about who owns or runs the company.
Bitcno’s website domain (“bitcno.com”) was privately registered on June 2nd, 2020.
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.
Bitcno has no retailable products or services, with affiliates only able to market Bitcno affiliate membership itself.
Bitcno’s Compensation Plan
Bitcno affiliates invest funds on the promise of a 200% ROI:
- Green – invest $25 and receive $50
- Orange – invest $50 and receive $100
- Black – invest $100 and receive $200
- Pink – invest $250 and receive $500
- Purple – invest $500 and receive $1000
- Red – invest $1000 and receive $2000
- Grey – invest $1500 and receive $3000
- Blue – invest $2000 and receive $4000
- Brown – invest $5000 and receive $10,000
- Silver – invest $10,000 and receive $20,000
- Gold – invest $25,000 and receive $50,000
Bitcno appears to use a 2×1 matrix structure to track investment and returns.
It appears Bitcno uses a 2×1 matrix structure to track investment and who gets paid what.
Upon activation of your package, the system will assign two members to pay you.
For instance, if you subscribe to the $5,000 package, the system will assign two people to pay you $5,000 each within 15 days!
A 2×1 matrix places a Bitcno affiliate at the top of a matrix, with two positions directly under them.
The positions are filled by newly recruited and existing Bitcno affiliates invest/reinvest.
At that point reinvestment is required to continue to earning. Reinvestment creates a new matrix to fill and fills another affiliates existing 2×1 matrix.
Note that Bitcno affiliates are limited from having two active investments at any given time (two matrices waiting to be filled).
Bitcno affiliate membership is free.
Full participation in the attached income opportunity requires an initial $25 to $25,000 investment.
Bitcno markets itself as a platform through which “smart investors” can receive “trusted and genuine returns”.
I don’t know about smart investors, but the returns Bitcno pays are derived through a fraudulent gifting Ponzi hybrid model.
The gifting element comes into play by way of funds being transferred directly between Bitcno affiliates.
The Ponzi element exists by way of the returns Bitcno markets being paid by subsequent investment.
Bitcno’s business model relies on constant recruitment of new investors, failing which the matrices stall and Bitcno collapses.
In a laughable attempt to legitimize fraud, Bitcno offers up this word salad nonsense;
Is Bitcno legal?
Bitcno is a multi-level interpersonal organization where individuals who will help each other deliberately, will join with their details.
Also, the registered members from Bitcno have a bound together monetary relationship, and this has demonstrated the motivation behind why Bitcno is not a subject of legitimate relations thus the Bitcno community can’t be illicit.
Giving cash by one member to another is not disallowed by either universal or nearby lawful frameworks.
Both cash gifting and Ponzi schemes are illegal the world over.
Bitcno’s Ponzi scheme is no different to any other; the math behind it guarantees that the majority of participants will lose money.