Is BTC Global a scam or not? Is this just some sort of illegal Ponzi scheme or a genuine Bitcoin mining opportunity? Some new information on BTC Global has recently come to light, so read on to find out what it’s all about…
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Company Name: BTC Global
Owner: Steven Twain
Price To Join: $1000 Minimum
My Rating: 0/10
~ BTC Global Review ~
What Is BTC Global?
This is allegedly a Bitcoin cloud mining scheme started in September of 2017 by South African, Steven twain. The scheme makes out like it’s a genuine investment opportunity in the ever-popular cryptocurrency – Bitcoin. However, many have suspected it’s nothing more than a Ponzi scheme, and recent developments have proven that assumption to be correct.
More on that in a moment.
Target Audience
Some people know when something’s an illegal money making scheme, but they jump on board anyway on the off chance that they might make some quick cash. This was targeting those types of people, as well as newcomers to the cryptocurrency craze who wanted to invest in Bitcoin.
How It Worked
Steven originally promised all investors a weekly 14% return on their investment, which sounds pretty impressive. The idea is investors inject a minimum of $1000 into the BTC Global Team, then kick back and collect some nice profits.
However, the very setup of the compensation structure has always suggested it’s some sort of revenue sharing Ponzi scheme, with Bitcoin mining as a legitimate cover story to hide an illegal operation.
This is the breakdown of percentages, depending on the level you’ve bought at into the scheme:
- Level 1 – 4%
- Level 2 – 4%
- Level 3 – 3%
- Level 4 – 1%
- Level 5 – 0.5%
To earn on a particular level, you must first buy into that level yourself. The idea is that you work hard to recruit new members, because without new investor money, you make nothing and the scheme dries up, hence the Ponzi scheme.
This is all a bit of a moot point now, because recently BTC Global Team was exposed for being a Ponzi scheme. Details below…
$50 Million In Investor Money Gone!
That’s one of the dramatic headlines currently doing the rounds.
Many investors in BTC Global appear to have come from South Africa, although there were plenty of hapless investors from all across the globe. In early March, 2018, South African police probed into the dealings of BTC Global after complaints that it was a scam.
The scheme encouraged people to both purchase Bitcoin through BTC Global, as well as invest money in the actual company with a promise of juicy returns. Twain recently vanished from the face of the Earth on the 18th February, 2018, after giving some investors sporadic and unpredictable payouts at best. Even his admin team hadn’t heard from him. Complaints started being made as everyone grew suspicious, and that’s when official investigations commenced.
Some have even made claims that Steven Twain is not even real, just a made up figurehead to take the heat in the eventuality that the scheme collapsed. That way, whoever is really running the show will remain anonymous and can make off with a stack of investor cash.
Details are still emerging regarding these developments, but the gist of it is, BTC Global has crumbled and Steven Twain – or whoever really runs the show – has disappeared with everyone’s money. And that most likely adds up to tens of millions of dollars from all reports.
What I Like
- Even despite these latest developments, there wouldn’t have been anything I liked about this obvious scam
What I Don’t Like and Red Flags
- The ROI offered was ridiculously high
- The fact that everyone has to recruit for anyone to make money is an indicator that it’s nothing more than a Ponzi scheme
- The fact that there were no actual products or services to buy also indicates a Ponzi scheme
- Steven Twain might not even be a real person
- The fact that admin and leadership claim they stopped hearing from Steven is likely just a cover to have the alias take the blame while the real owners make off with the cash, appearing as victims of the scam themselves
- Any scheme such as this one involves a huge risk, even if it is possible to make a ROI
How Much Does BTC Global Cost?
Before the company was sent to the bottom of the virtual ocean, the minimum investment amount was $1000, and likely many people invested far more than that amount.
Is BTC Global a Scam?
I think it’s already been demonstrated that BTC Global Team is a total scam and nothing but a rort to get the money of unwary investors looking to make a quick buck.
Unfortunately these Ponzi schemes are everywhere on the internet these days. And, because cryptocurrencies are so popular now, many Ponzi schemes are using that as leverage to get more people interested in their scams.
The offered return on investment for investing in the actual company was always ridiculously high, set at 14% to be paid out every single week (cough…cough).
I feel sorry for those who invested in this scam, but also glad that it’s been found out.
The bottom line is this: If it sounds totally unbelievable, then it almost 100% is bullshit to get your money. People just have to start being more diligent with schemes like these, and take their time to invest wisely in something that is already proven.
Schemes like this one are a lot like gambling, so you might have better luck with this lotto system.
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Darren Burton
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