10X Bitcoin, a company that purports to be a cryptocurrency training, education, marketing, and income opportunity platform, is in fact nothing but a seven-tier 2×15 matrix recruitment scheme that uses a multitude of cryptocurrency buzzwords to generate hype and traffic. Read more below on the “opportunities” 10X Bitcoin provides to would-be investors.
What Is 10xBitcoin?
10X Bitcoin is owned by Deep Profit Systems, a so-called “revenue sharing” company owned and operated by Thomas Riley.
Deep Profit Systems was one of the movers behind the infamous high yield investment program (HYIP) known as Traffic Monsoon, which was investigated by the Securities and Exchange Commission in October of 2016. The SEC investigation led to the shuttering of the company on the grounds that it was a poorly-concealed scam.
There’s no actual product or service that 10X Bitcoin provides, despite its claims to the contrary that the platform provides cryptocurrency training and education, marketing services, and click-based advertising revenue opportunities. In fact, the only activity that 10X Bitcoin members can anticipate in is to recruit affiliates to power through their matrix positions in order to earn commission-based income.
There are seven affiliate tiers, each with a 2×15 recruitment matrix, in which 10X Bitcoin members can participate. In return for paying a monthly fee, members earn earn commissions for direct and indirect recruits joining their matrix in the following amounts:
- levels 1 to 8 – 5% commissions on monthly fees
- level 9 – 4% commissions on monthly fees
- levels 10 to 13 – 3% commissions on monthly fees
- level 14 – 4% commissions on monthly fees
- level 15 – 5% commissions on monthly fees
Monthly fees for each of the seven tiers increase progressively, with the initial Bronze tier requiring $5 a month and the terminal tier, known as Titanium, requiring $1000 a month.
Additional “fast start” bonuses are paid to members whenever their first three direct recruits join their matrix. This bonus ranges from $1.50 per recruit at the Bronze level and increases to as much as $300 per recruit at Titanium.
True to its cryptocurrency theme, all payments made into the system and to affiliates are in the Bitcoin cryptocurrency (BTC).
Can you earn income through a matrix recruitment scheme? Sure, if you’re at the very top of the pyramid and there’s no one above you. Unfortunately, every matrix scheme – including 10X Bitcoin – places you, at the very least, beneath pre-loaded sponsor positions that are likely to be directly connected to the company itself.
This means that, as all payments inevitably flow upward, your monthly member fees will go to the company itself – in this case, Thomas Riley. This individual doesn’t have to pay to maintain his position, which means all the cash he gets will be pure profit; meanwhile, you’ll need to ensure you pay your monthly dues and hope that recruitment doesn’t dry up.
Of course, once recruitment does indeed dry up – it’s inevitable – there’s no more money in the system to earn.