This MLS Bitcoin Club review will let you know whether or not it is a legitimate Bitcoin investing opportunity.
The website of MLS Bitcoin Club (mlsbitcoinclub.com) was created in May 2017.
Initially, the business was known as MLS International Bitcoin Club. There are still traces of this name on different parts of this website.
The word MLS is a short form for Massive Leverage System, which ideally suggests a pyramid scheme.
They’ve listed Darry Perkinson as the owner of the business. Darry Perkinson is known for his association with another business known as WBI Enterprises LLC.
The owner of MLS Bitcoin Club is allegedly based in Georgia, US.
Before he got involved with this website, he was initially promoting a sales funnel website called Conversion Pros.
The owner of this website is currently advertising a “private membership community” and refutes any claims of associating this with an MLM operation.
Perkinson has also claimed that this is a “follow-me” system that gives members all the tools they need for their financial well-being.
On top of this, they claim the company teaches proper use of money and Bitcoin.
Other things they claim to provide members with include:
- Building of cash flow and generating wealth through educating members and sharing of membership fees (0.0455 BTC per head)
- Educating materials on how to buy and sell Cryptocurrencies, specifically Bitcoin
- Education materials on how to evaluate stocks, options, Currencies, Commodities and Indices
- Education materials on how to build a portfolio and protect your Bitcoin
Other things they claim to teach members include how to manage one’s 401K, how to manage credit, how to create an LLC, trading of stocks, and so on.
Perkinson has also been involved with OneCoin.eu ponzi scheme.
The website of OneCoin is currently marked as a high-risk website which subjects visitors to Phishing attacks.
Note: if you want to trade or invest in Bitcoin, consider these recommended trading products and services.
Is MLS Bitcoin Club legit?
Considering how this website operates, one can conclude that the business is not legitimate.
Company’s marketing materials state that membership fee is rotated among members.
Why would they need to collect and distribute fees among other members if this is not a ponzi scheme?
It has already been stated that this company is a 2×2 (Community) Force Matrix with 10 Bitcoin centers to ensure constant cash flow.
We have no idea what the above statement means.
However, the more you peruse this website, the more it becomes clear that this is an MLM as opposed to a genuine investment operation.
The truth is that MLS Bitcoin Club does not have products or services which they sell to generate revenue.
Your purchase fees earns you a position in the matrix cycle of the ponzi scheme business.
Together with this membership package, members receive “education” on the subjects mentioned at the beginning of this review.
The only source of revenue is membership fees. However, the site proclaims to grant access to a private membership club.
When you pay the admin fee, you will be promised to earn a ROI of 49.72 BTC.
This supposed ROI will come from new members paying the initial fee. This makes the business a bona fide ponzi scheme.
Any honest MLS Bitcoin Club review will warn you against joining this kind of “investment” operation.
All ponzi schemes thrive on new members. When the number of recruitment slows down, payments stop flowing into the system.
This means that a collapse will happen immediately.
In the end, Darry Perkinson and his colleagues will make off with most of the funds that other members had contributed.
There are no Bitcoin centers in this pyramid scam. There is no paying of ROI either.
You deposit the amount and chances of you saying goodbye to your Bitcoins will be 100% sure.