I’m sure you’re here reading this post because you’re wondering Is MyBitcointube A Scam? Can you really make money with this platform?
MyBitcointube is an online platform where you can allegedly make hundreds of dollars by watching 60-second videos and recruiting people to the platform.
I wrote this post to discuss whether MyBitcointube is a scam, and right from the start, it looks too good to be true.
In that case, you’ll learn a lot from this brief post.
This post will discuss the company, its background information, and red flags to its compensation plan and registration fee will be explained here.
You’ll know whether MyBitcointube is genuine or not after reading this post.
Is MyBitcointube A Scam – Website Summary
- Product: MyBitcointube
- Registration fee: Registration is free, but there is an upgrade fee of $19.95 per month
- Rating: 0/100
- Do I recommend it? Not at all.
MyBitcointube is a fraudulent scheme that allows you to earn by watching videos and get commissions by recruiting people to the system.
I strongly believe that new recruitment is where most of the money comes from. Therefore, this makes MyBitcointube a Ponzi scheme that is bound to fail, since Ponzi schemes always crumble.
Moreover, people have been complaining about not getting returns from this company, so what happens is the owners will eventually stop their operation and disappear with everyone’s money.
How Does MyBitcointube Work?
Money can be supposedly earned here in two ways, which include:
- Earn Bitcoin when you watch videos
- Earn commissions on the money spent by people you refer to the scheme when they buy ads, upgrade, etc.
No fee is required in the first method. Supposedly, all you need to do is watch different YouTube videos and get paid.
It appears some people are being deceived into paying others to view their videos, thinking they can make money from it.
The truth is that you shouldn’t be marketing your YouTube videos to people who have no interest in your videos, but rather you should channel them to potential buyers.
The company claims that you can earn about $200 daily by watching videos, but that’s obviously false as nobody is earning that much on the platform.
The numbers don’t lie, my friends…
Since MyBitcointube claims to have 93,301 registered users, it means these users would be paid over $18 million daily (which would be half a billion dollars per month) if each earned $200 per day.
This is outright nonsense!
You and I both know that there’s no way Mybitcointube is paying out over $18 million daily.
The other method of earning money is by recruiting people to the company.
You receive a 10% commission on all money spent on videos and banner ads by your referrals, including a 20% affiliate commission whenever they upgrade and a free ticket in the Weekly Lottery for each video they watch.
This shows that most of the company’s money comes from new investments and recruitment, which implies that MyBitcointube is simply a Ponzi scheme.
What’s The Sign-Up Fee For MyBitcointube?
While there is no sign-up fee for MyBitcointube, you can’t get anything worthwhile from the free account.
Watching videos and earning money on a free account is extremely difficult.
For example, you’ll be given first priority on watching videos if you make a payment of $19.95 every 30 days.
You’ll also be given the opportunity to watch the videos allocated to other members who can’t watch them.
I think it’s basically those who pay money who get the opportunities to watch videos.
The Owner Is Not Known
When the owner of a company (particularly one that is as sketchy as MyBitcointube) is not revealed by the company, it’s a huge red flag.
Reviewing scams is what I do for a living, and I have hundreds of reviews I’ve compiled on various make-money online platforms.
In every instance where the owner is hidden or anonymous, the business is a flat-out SCAM.
Those behind the operation are usually serial scammers, and that’s why they don’t reveal their identity.
People wouldn’t get involved with these companies the moment they actually realized who the owners were.
That’s the game being played here.
I believe this is not the first time the real owner or owners of this company are running a scam and it won’t be the last.
You’ll Lose Your Money With Mybitcointube
It’s hard to figure out the location of MyBitcointube because of the anonymity of the owners.
According to Alexa, most of the company’s traffic comes from these three countries:
- United States
- India
- Venezuela
The website’s FAQ section contains some bad grammar, which means it’s obviously not from America.
Besides, considering the strict laws against Ponzi schemes in America, it’s only a crazy person that would operate such schemes here in the USA.
Although scammers don’t usually target their country of residence, it’s possible the owners could be from any of the other two countries.
The company is most likely located in an Asian or Eastern Europe country.
When you look at this business model, new investment and recruitment is the primary way to bring in revenue, which makes MyBitcointube a typical Ponzi scheme.
In essence, what I’m trying to say is that you can’t really do anything once such a scheme collapses.
I don’t think the country from which MyBitcointube operates will prosecute them, and it will be impossible for you to personally sue or track them.
I wouldn’t even open a free account with MyBitcointube, let alone put any money there!
You’ll lose your money – I guarantee it!
MyBitcoin tube is similar to other scam crypto MLMs I’ve reviewed on this blog such as:
Is MyBitcointube A Scam?
Yes, Mybitcointube is a scam.
MyBitcointube is definitely a Ponzi scheme.
Every single time, Ponzi schemes fail because they are not sustainable, and MyBitcointube is not an exception.
This explains why they run a referral program and force you to scout for new recruits.
Despite the fact that some people might have made money from this company, especially at the beginning, it won’t stand the test of time because it’s not designed to.
As long as it’s built on getting money from new affiliates, it’s programmed to fail.
You’re most likely to lose any money you deposit, unless you are the “owner” or one of the few who are at the top because they got in early.
MyBitcointube is not worth your time, even if you create a free account.
I would stay away from this soon to collapse Ponzi scheme!
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Talk Soon,
Howard
