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Business | 2020/02/17

Bitcoin MLM Scams: Multi-Level Network Marketing Cryptocurrency

Bitcoin MLM Scams: Multi-Level Network Marketing Cryptocurrency
Bitcoin is already ten years into its inception and as one might imagine, cryptocurrency-related multi-level marketing schemes run rampant within the blockchain-built industry. There is a direct need and certain requirement for authenticity and transparency within the MLM sector as far too often the game is rigged with rotten business opportunities at their core. In order to change the conversation for when it comes to separating the crypto-laced network marketing ponzi schemes from the tried and true (which are very few) ‘deals', this will act as a two-part series. The first one will be a user-centric guide on how to identify and avoid bitcoin pyramid schemes followed by a list of every multi-level marketing scam we could dig up and review from the past few years (the rest can be found on our bitcoin scams and cryptocurrency hacks page). Due to Bitcoin being a border-less, global cryptocurrency and used as a digital payment platform, perpetrators akin bitcoin and its offspring crypto assets as a honeypot to take advantage of unassuming or unknowing users. Because it is the first decentralized crypto-asset that is digital in nature and it works in absence of a third-party central controller or ruler, the very magic of the bitcoin blockchain-based system and how it works as a peer-to-peer network and financial transactions happen directly without intermediaries can actually cause great harm if you are not prepared or ready to ‘become your own bank'. While the transactions have to be verified by network nodes and miners, the payment network offers limited user-focused safety and security measures outside of keeping coins offline and away from prying eyes online. And all of this is to setup the tee-ball for the ever-popular multi-level marketing industry in which Bitcoin has made its way into the depths and bowels of this often grey to dark grey to blackened sector. Yes, Bitcoin has gained popularity over time and its popularity may greatly increase as time goes on. But with great reward comes great risk and nitcoin has many scammers who take advantage of innocent victims and this guide is meant to educate and formulate a plan as well as highlight all the crypto MLM schemes we could round up for your viewing pleasure. At their core, they exploit the victim’s lack of knowledge about the market condition and use that as an opportunity to steal from them. Whether it be darkweb hackers, dirty scammers or downright schemers, the newly formed decentralized currency known as Bitcoin does bring out everyone and that calls for a real wake up call regarding how to stay away and avoid bitcoin-related network marketing ponzi schemes and earn crypto another way.

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