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My Cryptobit Review – Scam or Legit? Compensation Plan Breakdown

Welcome to the My Cryptobit Review.

One of the things that we need to learn is if the opportunity we are thinking about joining is a scam or not.

We wouldn’t want to jump into an opportunity that we invest our time and money in and then turns out to be a scam and gets shut down later on.

We can easily avoid these types of companies by simply taking the time to look at the information on the company, the products, and the compensation plan and compare that information with what the law wants a company to have in place to be in compliance.

My Cryptobit Review

This is what we are going to do for you in this review and see if the My Cryptobit opportunity has a legitimate business model for you.

With that said, let’s dive down and see what we find.

My Cryptobit Company Overview

My Cryptobit Reviews

In this section of the review, we are going to take a look at the My Cryptobit company information.

One of the things that we like to see when we looking at company information is transparency.

This shows more trust, and we can actually have more information to learn more about an owner’s experience and background.

It also shows that they are not hiding and have some pride in their company.

First off, the company is in the cryptocurrency niche and has an MLM aspect to it as far as the compensation plan the offer goes.

My Cryptobit Company CEO Owner Ozcan Kome

The owner of the Cryptobit is ÖZCAN KÖME and the business is run out of London.

There was no additional information we were able to find online about the owner’s background or experience.

According to other resources David Bras is the Co-Founder but the title that the company website has him listed as is “Department Marketing Consultant”.

That is all I have on the company information, let’s move on to the next section.

Another great review: Splitt Review – Scam or legit? Compensation Plan Breakdown

My Cryptobit Products Review

In this section of the review, we are going to take a look at the My Cryptobit products.

My Cryptobit Products Review No Retail

When a company has an MLM aspect to their business model, according to the compliance law you need to have retail products for people that just want to purchase the product or service that your company offers without having to join the business opportunity side of it.

Unfortunately, My Cryptobit does not offer any retail products.

The Features

However, My Cryptobit does offer “features” that they’ve outlined on the website that you get once you join the affiliate membership opportunity and make an investment.

Here is a breakdown of some of the features they offer:

  • Daily Bitcoin Analysis
  • Important Market News
  • A Long-Term Coin Portfolio
  • ICO Research
  • An Airdrop Service
  • One Tap Trading
My Cryptobit Features Review

That is all I have on the products that they offer, let’s move on to the next section.

Another great review: BitherCash Review – Scam or Legit? Compensation Plan Breakdown

My Cryptobit Compensation Plan Breakdown

In this section of the review, we are going to take a look at the My Cryptobit compensation plan an how you make money with it.

My Cryptobit Compensation Plan Breakdown

There are basically 2 ways to earn with the Cryptobit compensation plan which is:

  • ROI Commissions
  • Referral Commissions

ROI Commissions

To get started with the opportunity that Cryptobit offers you will need to first make an investment in one of the packages they offer.

Once you make that investment you can start earning from the daily ROI that is promised by the company.

You can also pay up to $1,500 in additional membership fees to pay out the referral commissions.

There is no information available that the company offers on the website about the ROI that they promise but we do know that there is this feature.

The main way that the compensation plan is run to earn more money with it is to move up in rank.

The higher the rank the more money you can earn.

My Cryptobit Ranks

Cryptobit offers 13 ranks that you can achieve in the compensation plan they offer.

The higher the rank that you qualify for offers more money that is paid out.

Here is a breakdown of the ranks that Cryptobit offers and the qualifications you need in order to reach them:

  • Rookie Rank – All you have to do to reach this rank is simply sign up as a My Cryptobit affiliate member.
  • Bronze Rank – To qualify for this rank you need to generate $1500 or more in total personals and team member’s membership fees.
  • Silver Rank – To qualify for this rank you need to generate $5000 or more in total personals and team member’s membership fees.
  • Gold Rank – To qualify for this rank you need to generate $25,000 or more in total personals and team member’s membership fees.
  • Platinum Rank – To qualify for this rank you need to generate $50,000 or more in total personals and team member’s membership fees.
  • Sapphire Rank – To qualify for this rank you need to generate $100,000 or more in total personals and team member’s membership fees.
  • Ruby Rank – To qualify for this rank you need to generate $250,000 or more in total personals and team member’s membership fees.
  • Emerald Rank – To qualify for this rank you need to generate $500,000 or more in total personals and team members membership fees.
  • Diamond Rank – To qualify for this rank you need to generate $1,500,000 or more in total personals and team member’s membership fees.
  • Double Diamond Rank – To qualify for this rank you need to generate $3,000,000 or more in total personals and team member’s membership fees.
  • Blue Diamond Rank – To qualify for this rank you need to generate $7,500,000 or more in total personals and team member’s membership fees.
  • Black Diamond Rank – To qualify for this rank you need to generate $18,000,000 or more in total personals and team member’s membership fees.
  • Imperial Diamond Rank – To qualify for this rank you need to generate $48,000,000 or more in total personals and team member’s membership fees.

Referral Commissions

The way that My Cryptobit pays out referral commissions is using the MLM unilevel compensation plan structure.

For those that are unfamiliar with how the unilevel pay plan structure works here is a quick breakdown:

  • 1st Level – This level of your unilevel compensation plan will only have your personally referred members on it.
  • 2nd Level – This level of your unilevel compensation plan will only have team members that your level 1 members personally referred to it.
  • 3rd Level – This level of your unilevel compensation plan will only have team members that your level 2 members personally referred to it.
  • and so on…

I hope that explanation helps in understanding how the unilevel pay plan works.

How To Make Money With My Cryptobit

My Cryptobit offers 10 levels of unilevel commissions that you can earn on.

Best Offer

When you first get started the number of levels are capped to 3 levels until you personally sponsor at least 3 affiliate members that make an investment and have a total team of at least 15 affiliate members that have also made an investment in the company.

Here is a breakdown of what you can earn from all 10 levels of the unilevel compensation plan that My Cryptobit offers:

  • Level 1 – This level of the unilevel pays out 15% from your personally referred member’s investments.
  • Levels 2 and 3 – These levels of the unilevel payout 5%.
  • Level 4 – This level of the unilevel pays out 4%.
  • Level 5 – This level of the unilevel pays out 3%.
  • Level 6 – This level of the unilevel pays out 2%.
  • Level 7 – This level of the unilevel pays out 3%.
  • Levels 8 and 9 – These levels of the unilevel payout 4%.
  • Level 10 – This level of the unilevel pays out 5%.

Global Company Bonus Pools

The company also offers a global bonus pool commissions that are paid out to members that qualify for it.

Depending on your rank will offer more of a percentage that you can earn from it.

The bonus pool is 10% of the companies total profits and is offers to Sapphire ranked affiliate members and higher.

Here is a breakdown of what you can earn from the bonus pool depending on your rank in the company:

  • Sapphire Rank – This rank earns 2% of the Global Bonus Pool.
  • Ruby Rank – This rank earns 2% of the Global Bonus Pool.
  • Emerald Rank – This rank earns 1% of the Global Bonus Pool.
  • Diamond Rank – This rank earns 1% of the Global Bonus Pool.
  • Double Diamond Rank – This rank earns 1% of the Global Bonus Pool.
  • Blue Diamond Rank – This rank earns 1% of the Global Bonus Pool.
  • Black Diamond Rank – This rank earns 1% of the Global Bonus Pool.
  • Imperial Diamond Rank – This rank earns 1% of the Global Bonus Pool.

That is all I have on the compensation plan an how you make money with it, let’s move on to the next section.

Another great review: Magnus Capital Center Review – Scam or Legit? Compensation Plan Breakdown

My Cryptobit FAQ Section

In this section of the review, we are going to answer some of the questions that people may have when thinking about joining the My Cryptobit opportunity.

Is My Cryptobit Accredited With The BBB?

No, the My Cryptobit company is not accredited or listed on the Better Business Bureau.

Not being listed on the BBB website is not an indication of a company being a scam, it just means it is not listed or accredited.

I don’t usually take into consideration if a company does have a review or rating on the BBB because whether good or bad, they have been known to have manipulated rating that was done by 3rd party services that specialize in improving a companies rating.

However, I do refer to the BBB for additional company information and compare reviews and testimonials with my other resources when they have that information.

How Much Does It Cost to Join My Cryptobit?

There are a few options you have to join the My Cryptobit opportunity.

Here is a breakdown of the different options of investment that you have when you want to get started:

  • You can start for $500 every 3 months.
  • You can choose $900 for a 6-month subscription membership or…
  • You can join for $1500 each year.

There are also additional investment options that you can choose for more income than you can earn with how they structured their compensation plan.

Is My Cryptobit A Scam or Legit Opportunity?

Is My Cryptobit A Scam or Legit

In my opinion, yes, My Cryptobit is a scam.

Based on the fact that they have an MLM compensation plan structure aspect and they offer no retail products or service make the company, not in compliance with the law.

This is the simple fact that makes them a Ponzi Scheme which is basically a company designed to make money from other member’s investment money.

I do understand that the company states that the revenue generated is from trading but where is the proof?

I don’t feel that this is a legitimate company that operates with total transparency on how and where the profits are actually all generated.

This is just my opinion, but the fact that they offer no retail products and offer an MLM company is still not in compliance which is the facts.

Let’s move on…

Related articles: Cryptocurrency Reviews, Scams, and Compensation Plans

My Final My Cryptobit Review and Thoughts

In the final section of the review, I am going to share my final thoughts on the My Cryptobit opportunity and what I think about it.

Now that you have learned more about the information on the company, the products that My Cryptobit offers and the compensation plan and how you make money with it, what do you think?

My Cryptobit is a good-looking company on the surface and has a good shot at lasting for a while but there are issues that need to be worked on.

The fact that they offer no retail products and they are running an MLM business makes the company, not in compliance which can be easily remedied.

There is a hidden way to earn money with the compensation plan that seems to not be disclosed on any of the company website pages which is to earn money through the ROI that they offer.

We don’t know the details on how much you can earn for your investment or how it works exactly, or even how it is sustainable but we do know from sources that this is a feature that My Cryptobit offers.

I cant’ judge them too harshly on that aspect because that information is not on the website.

Either way, here is the question…

Would I personally recommend or join the My Cryptobit opportunity?

No, I would not recommend My Cryptobit nor would I join this program simply for the issues that I’ve stated earlier in this review.

With that said…

I hope you enjoyed my My Cryptobit review.

Make sure to click on the social share buttons on this page and share it with others so that people can know exactly what the My Cryptobit opportunity is really all about.

Thank you!

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