Is BitTrain a Scam?

Is BitTrain a Scam?

You may have heard about BitTrain as a business opportunity and are wondering Is BitTrain A Scam?

This is a reasonable question in light of the fact there are thousands of cryptocurrency scams populating the internet.

BitTrain is a new investment opportunity that deals with cryptocurrency.

If you are thinking about joining this platform to make money, make sure you read this post first.

You will find useful information about this platform that can help you decide if you should invest or not.

Make sure you read this BitTrain review completely.

Summary

  • Company: BitTrain
  • Website: www.bittrain.org
  • Registration Cost: Free
  • Rating: 3/10
  • Recommendation: Not recommended

BitTrain is a new crypto exchange platform based in Europe.

The CEO of this platform is Allen Coko, a mysterious Albanian.

According to two sites, the company is located in Albania or London. To earn on this platform, members must purchase trading and coin packs at various prices.

Another way to earn is to refer people to join and invest. We will let you in on some shady things we discovered about this company.

Please continue reading to know why I don’t recommend BitTrain.



About BitTrain

Is BitTrain a Scam?

BitTrain is a new cryptocurrency exchange platform that makes use of BTRC token.

The platform claims it generates revenue through the production and sales of BTRC tokens.

The number of tokens to be produced within the first two years will be decided by existing traders.

To store their account balances, clients on this platform will have to make use of a decentralized contract on the Etherium blockchain.

Currently, the only available method of payment is Bitcoin, and traders on the platform will also receive payment via Bitcoin.

The problem with Bittrain is that it’s an offshore broker.

Offshore brokers have a consistent history of not being reliable and they are constantly abusing the regulations.

This is why businesses like BitTrain try to stay anonymous so that they can disappear at any time without notice.

Another mystery about this platform is the team.

The company’s CEO is Allen Coko, an Albania who resides in the UK.

You will not find any social account or LinkedIn profile linked to the CEO of BitTrain.

Other members of the team are:

  • John Kin, co-founder
  • Max Cerchiari (Italy)
  • Joao Victor Silva (Brazil)
  • Francisco Barros (Sweden)
  • Dr. Basit Ali Khan (Pakistan)

On the website, you will not find any photo or any useful information attached to any of these team members.

I believe there is something shady about this platform.

If you have a legit business and you stand by it, why not have your face on your own website so people can see who you are?

How to Make Money with BitTrain?

To earn on this platform, you will have to invest in any of the coin/trading packages.

The price of these packages falls between $100 dollars to $250,000 dollars.

Regardless of the package you purchase, you will receive a return of 8% per week, 32% per month, 416% per annum, and ROI of 832% in two years.

Another way to earn on this platform is through referrals. Thus, BitTrain also operates as an MLM.

Members can receive direct referral commissions, binary commissions, and unilevel referral commissions down to 12 levels.

BitTrain offers a trading platform, a team of experts, and artificial intelligence software.

There is no way to tell if their trading platform is real, and the MLM model it adopts makes it suspicious.

Let me give you this warning: Do not have high hopes that you will receive returns when you invest.



What Is the Registration Cost

Registration is free. However, to earn, you will have to invest between one hundred to two hundred and fifty thousand dollars ($100-$250K) to trade.

Also, each trading and coin package you purchase does come with a subscription fee.

The platform has created its own cryptocurrency called BitTrain coin.

This cryptocurrency, according to BitTrain, is decentralized “based on advanced mathematical algorithms.”

Frankly, I have no idea about what that means.

The platform hopes its coin will gain recognition as Bitcoin. It is traded on open exchanges and backed by Commission Free Exchange.

According to the platform, BitTrain coin would be the next successful cryptocurrency on the planet.

Below are the costs of the different packages:

  • Starter pack ($100)
  • Medium Trader ($250)
  • Active Trader ($500)
  • Advance Trader ($1,000)
  • Pro Trader ($3,000)
  • Tycoon Trader ($5,000)
  • Elite Trader ($10,000)
  • Premium Trader ($25,000)
  • Combo Trader ($50,000)
  • Mega Combo Trader ($100,000)
  • Millionaire Combo Trader ($250,000)

Is BitTrain A ScamDon’t Fall For the Snake Oil

Is BitTrain a Scam?

Don’t fall for the Snake Oil!

There are so many red flags about BitTrain that personally, I would have to say that this is a SCAM.

One of the red flags is the address. On the website, it says BitTrain is located in London.

On another site, it says BitTrain office is located in Tirana, Albania.

It is possible the company has a lot of money to afford offices in both locations.

However, what the shady thing here is that both addresses listed on the websites offer services offices as well as coworking spaces.

Anybody, whether legit or scam, can rent and claim these locations as their business address.

Another red flag is that there is no proof that the platform does exist or is real since BitTrain is not listed in any established or legit crypto exchanges at the moment.

There is no evidence that there is an artificial intelligence software that handles trades on behalf of investors.

Another shady thing about this business is that it operates as an MLM company.

All we know so far is that the artificial software and currency exchange is not real, and the people running this platform are using investments from new members to pay existing members.

If this is what is happing, then it is a pyramid scheme.

Pyramid schemes are short-lived. It collapses when there is no money to go round, which happens when recruitment or investment slows down.

I don’t recommend this platform, and I strongly advise you to take extra care when you come across opportunities like these if you don’t want to lose your money.

BitTrain is similar to other questionable businesses I’ve reviewed on this blog such as:

Is BitTrain a Scam?
Is BitTrain a Scam?


What You Need To Do Next

As a matter of fact, what I strongly suggest is that you stop relying on the pyramid schemes of unknown scammers and build your own online business.

The moment you come to understand that you’re going to have to participate in your own financial rescue, the sooner you can start making real progress toward financial freedom.

You don’t have to worry about your lack of experience when it comes to building a profitable online business.

My #1 Recommendation, Wealthy Affiliate, actually makes it EASY to start your own online business.

That’s not happy, that’s a fact!

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The Premium membership from Wealthy Affiliate is by far the highest value, most cost-efficient way to create and grow an online business in 2020 and moving forward.

If you have struggled for years to build a successful business online, or feel that you don’t have the “full picture”…

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What the owners of Wealthy Affiliate, Carson Lim and Kyle Loudoun. have done is make available the opportunity for you to set up a FREE membership.

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Make The Right Choice Today!

The choice is yours, my friend.

Before you decide that this is not the right time or you’re “too tired”or you have “other commitments, consider these words: 

“If you do what you’ve always done, you’ll get what you’ve always gotten.”

The above words from the late motivational speaker Jim Rohn are a fact of life.

If you don’t do something now, then when will you do something?

How bad does your finances have to get before you say “I’ve had enough!”

Don’t let another “crisis situation” catch you and your loved ones off guard!

Talk Soon,

Howard


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