If you are looking to know about BitClub Network and about its legitimacy, you have come to the right place. BitClubNetwork.co.uk is a very famous name in the crypto industry. Due to its massive popularity, people assume that it will be safe for investment. However, there are many suspicious things about this company. We will discuss these things in this article, and then you can make up your own mind to invest in this company or not.
What Is BitClub Network?
As its name indicates, BitClub Network is a crypto network that describes itself as the most secure cryptocurrency on the planet. Moreover, it claims to offer easy and secure methods of earning and trading Bitcoin using modern blockchain technology. A noticeable thing about this network is that it does not restrict itself to crypto schemes only. Instead, it mentions various types of trading, as Forex trading on its website as well.
BitClubNetwork.co.uk tells people to join the network because it can immediately provide Bitcoin and maximum profits. It points out that mining crypto coins are expensive and time-consuming, so you should join their company for immediate compensation. The site features many other reasons like implementing modern technology, a high amount of investments, safety, insurance, and easy transactions to entice users.
However, you should never trust any company’s claims. Instead, always make up your mind after researching a company and reading its reviews. Keep reading this article to get to know about the various fraudulent activities and legal problems of this network.
Founder of BitClub Network
Every genuine crypto network and crypto-coin mining platform provide details of its origin and executives. On the other hand, crypto scams like BitClubNetwork.co.uk always try their best to hide the name of their creators. The site never mentions any specific name. Instead, it says that the company is managed by a group of marketers, professionals, and different experts. The network claims that unknown executives behind the company aim to start a straightforward company that is a complicated industry. Moreover, the company does not give its physical address, which shows that they are hiding all of its essential information.
Recently, BitClub Network was embroiled a lot of legal controversies. These cases revealed that Russ Midler is the founder of this company. Midler has a criminal record in the USA. He is a convicted sex offender for child pornography. Moreover, he is known for his participation in numerous suspicious and fraudulent activities. It shows that this network cannot be trusted because the man behind it is a felon.
Over the years, BitClub Network has been facing numerous lawsuits for a number of reasons. In 2017, it was announced by the US authorities that they were thoroughly investigating the crypto network due to massive irregularities. In 2018, reports came out that BitClubNetwork.co.uk was worth more than $700 million and had possibly scammed millions of people around the world. Finally, in Dec 2019, US Attorney announced that three people were arrested in connections to running a fraudulent crypto network for five years.
Despite these arrests and proof that BitClub Network is a scam, its website is still running. Hence, people must beware of investing in this company. There is no doubt that it is a fraud and so you must avoid it at any cost.
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Joining BitClub Network
BitClubNetwork.co.uk states the following three joining plans:
- Pool One – Invest $100
- Pool Two – Spend an amount of between $1000 to $5,000
- Invest an amount of between $5,000 to $10,000 in joining Pool Three
- Founders Pool – It is the highest rank and requires an investment of $10,000 to $100,000
BitClub Network demands a registration fee of at least $100 from the members to become a part of the network. It justifies the fee by saying that you will get access to the backend to see the different transactions on your portfolio. However, such type of feature is offered by many other mining companies for free. Therefore, you should use the crypto cloud mining companies to mine your crypto coins. Such companies offer maximum support, and you will have great chances of earning maximum profits.
BitClub Network claims that it allows you to earn money immediately and is false. In fact, after paying a $100 registration fee, you will have to wait for at least ten to thirty days before you can even participate in the mining scheme. During this long period, your money, energy, and time will be wasted as you will not be making any income during this period.
Compensation Plan of BitClub Network
The company offers a variety of schemes under the compensation plan. The primary focus of this crypto network is on crypto mining.
1. Mining Bitcoin
BitClub Network claims to have an extensive mining pool that allows you to mine Bitcoins on a daily basis. However, there is no proof to substantiate these claims. In fact, the prosecutors have proven that the company does not even have access to appropriate blockchain technology. It is lying to people to convince them for investments.
2. Referral Commissions
Referral commissions are a significant part of any business model in the crypto industry. BitClubNetwork.co.uk also promises referral commissions to make people refer to the company as much as they can. Such types of commissions have made this network a popular name in the industry. As a result, it had managed to collect more about $722 million investment during the period of only five years.
BitClub Network’s ROI plan is disappointing, to say the least. First of all, the company does not disclose many details about the ROI plan. At one place, BitClubNetwork.co.uk gives a hint of the daily compensation plan, according to which you will be able to earn $500 in about 850 days. It is equal to 2 years and seven months. It seems like the network has not even tried to devise a convincing ROI structure. Instead, they keep referring to the mining scheme again and again to highlight only one part of the entire company.
The purpose of this article is to make it clear that BitClub Network is an illegal crypto mining scam company that has been running for six years now and scamming hundreds of thousands of people. There is a lot of hype around this company due to social media marketing and heavy promotions.
Initially, you might see BitClubNetwork.co.uk as some kind of revolutionary crypto mining platform. However, once you start analyzing its business model as we have done in this article, you will realize that it has an extremely disappointing structure. Many people decide to invest in this company because it lists a bunch of convincing features. However, you should also keep in mind evaluate the price of Bitcoin and the mining technology used by this network.
Last but not least, the founder of BitClub Network is a convicted felon. He is not only running a crypto scam company like this one but also he was involved in heinous crimes like distributing child pornography and many others. There is no point in investing in such an illegal, immoral, and unethical company.
Therefore, do not invest in BitClub Network. It would be much better if you use crypto cloud mining companies because they have an efficient customer support system, flexible sign-up plans, reliable withdrawal structures, and most importantly, they are trustable and transparent for crypto mining.