Crypto Network Marketing – How serious is BCT HOOD’s business model?

London – The crypto- and blockchain scene is getting more and more confusing. This makes them attractive even for dubious providers. Anyone who wants to make fast money with crypto currencies but does not have sufficient market knowledge can quickly fall for dubious providers of crypto services and lose everything.
Even the serious market for trading digital money is having a hard time at the moment. For example, the Bitcoin price collapsed by almost 10 percent in the night from March 8 to 9. This means that the largest crypto currency in terms of market capitalization is below 8,000 US dollars. The Ethereum exchange rate (ETH), the Ripple exchange rate (XRP) and the IOTA exchange rate (MIOTA) have also dropped significantly. With a loss of around 10 percent, the world’s leading crypto currency Bitcoin (BTC) posted the biggest 24-hour crash of the year to date. The value of Ethereum followed the Bitcoin exchange rate into the cellar with almost 11 percent, and Ripple also had to bleed heavily with almost 10 percent. Of course, the IOTA price was also affected by the crash on the crypto market. A 24-hour loss of almost 12 percent is alarming.
The collapse of the Bitcoin price follows the generally poor investor sentiment on the stock markets. The panic in front of the corona virus spreads from the stock markets to the Bitcoin price. In addition to the corona crisis, the crash of the crude oil price has a fatal effect on the stock markets. Bitcoin trading is further complicated by these developments. This trading is about customers exchanging crypto currencies for assets such as conventional money or other digital currencies.
The uncertainty surrounding the Bitcoin price slide probably benefits questionable crypto service providers, which apparently include BCT HOOD. Is the abbreviation BCT pure coincidence or is it intended to deliberately evoke an association with the official Bitcoin abbreviation BTC? In any case, the acquisition of Bitcoins is the focus of BTC HOOD’s crowdfunding system. It remains unclear where the company is located. Even who is the managing director and what legal form the company has, remains in the dark.
With the help of an „ultimate creative algorithm“ one promises a „system in which everyone makes money“. In the self-portrayal it only says: „BTC HOOD is here to change lives, Yes you can change your future. We believe the BTC HOOD family will be world changers, we are not here to just survive, we are here to change the fabric of what is possible, we are here to make a difference. This is an easy system that anyone regardless of experience, background or financial support. Small-One-Time-Payment. There is no monthly subscription and you have full freedom to built your team and to reach in last level of our site where you have a huge team. If you are not willing to risk the usual you will have to settle for the ordinary.“
The mysterious company explains how the business model works: „The BTC HOOD Plan works in a very simple way. Generally, it has a limited number of distributors at each level. Once you reach the maximum limit at the first level, the matrix spills over and next members are added to the next level. Those members are then invited to add more members below them, and it keeps going on. As you get more members below you, the benefits keep reaching you. Therefore, it provides you immense earning possibilities.“
In order to participate in the crowdfunding system, the Customer must purchase Bitcoins. Then he can start receiving donations. A one-time payment of $50 in Bitcoin will create an account. Of course, multiple accounts can be opened. The digital wallet account will then be credited with amounts that the account holder has earned as a participant in relationship marketing. This form of marketing uses personal contacts to achieve sales targets. BTC HOOD customers, euphemistically referred to by the company as „family“, are to encourage acquaintances and relatives to participate.
In concrete terms, the idea is that they too open a user account and deposit 50 dollars for it. If they don’t attract enough new customers and sales partners, they won’t get any money as a success fee, but simply lose 50 dollars per account. Full-bodied is what the company says: „We are pioneering a movement of Relationship Marketing that has the principles of Empowerment, Loyalty and Integrity at its core. When done right, this platform breeds entrepreneurs who go on to being the best version of themselves, achieving their goals and elevating their earning potential. BTC HOOD is a global and diverse team of professionals with a shared passion for Relationship Marketing. We have a common goal of becoming the biggest Abundance Movement on planet earth.“
It is also irritating to note that the minimum withdrawal is only 0.0035 BTC. Customers are asked to ensure that they enter a correct Bitcoin wallet address, as payments are not made to e-mail addresses. The questionable business model does not seem to be successful. Although BCT HOOD’s Facebook page is updated regularly, the information on it remains sparse and nebulous. The site has not even received 200 Likes. In fact, only 19 people belong to one of the company’s Facebook groups, if they are real social media profiles at all.