There are enough BizzCoin reviews online claiming this cryptocurrency as a pyramid scam, Ponzi scheme, or fraud.
You also have reviews with people boldly saying that they have made over 1,000% gains investing in BizzCoins.
Who is telling the truth?
Some investors automatically reject BizzCoin as a pyramid scheme because of the multilevel marketing (MLM) model.
Recruiters of BizCoin MLM promote the opportunity as the most lucrative investment ever existed on earth.
You are curious and want to join the opportunity. But, you are afraid of becoming a victim of another crypto scam.
I share your concern. So, I decided to analyze the BizzCoin business model to offer you this honest review.
Before we begin discussing the BizzCoin MLM business, you should know this is a UK MLM company.
Unlike the United States, Multi-Level Marketing (MLM) companies are unregulated in the UK. The industry regulates itself. So, they enjoy the freedom of making false promises and unrealistic claims to recruit people.
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BizzCoin Review Summary
| BUSINESS INFORMATION
Name: BizzCoin Business Type: MLM Investment: $57.98 (€50) |
|
NO FACE-2-FACE SALE – NO RECRUIT – JUST PASSIVE INCOME
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What Is BizzCoin?
BizzCoin is a cryptocurrency issued through the TRON blockchain platform. These crypto tokens are known as TRC20 Coin (TRC20 Token Standard).
As a TRC20 Coin, you can exchange BizzCoin for BitCoin (BTC) and Ethereum (ETH). The advantage of using BizzCoin is paying a lower transaction fee.
What makes BizzCoin different is the way the company promotes and distributes its TRC20 Tokens. It uses Multilevel Marketing (MLM).
Yes, you can earn commission selling and recruiting others to invest with BizzCoin. We will discuss this in detail further below.
This crypto MLM also promises to pay investors a passive income of up to 10% per month for purchasing one of its BizzCoin business packages.
The 10% monthly passive income sounds unrealistic to those with little or no knowledge of how TRC20 Tokens operates.
They believe BizzCoin is scamming people by offering a guarantee on the investment.
However, those who understand how the Delegate Pool of Stake (DPoS) works on the TRON blockchain platform will agree the 10% return on investment is possible.
How can BizzCoin guarantee a 10% monthly return?
You can find the answer to this in our BizzCoin compensation plan review section.
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About BizzCoin Founder
Rohan Gohar is the founder and CEO of BizzCoin.
This project began in 2019. However, BizzCoin did not list on the crypto exchanges until April 2020.
Rohan Gohar has zero background in cryptocurrency. His business experience was in MLM.
Before launching BizzCoin, Gohar was the founder of BizzTrek, a foreign exchange MLM platform.
BizzTrek was a total failure. In 2019, Rohan Gohar renamed BizzTrek to BizzTrade to continue the foreign exchange MLM.
Rohan Gohar launches BizzCoin with a simple purpose, to become a global currency with an entire BizzCoin ecosystem that offers the following:
- BizzWallet – A crypto wallet
- BizzExchange – A crypto trading platform
- BizzMart – A crypto shopping platform
- BizzTravels – The crypto travel booking site
- InfiPay – Crypto-Friendly Payment Solutions
- POS System – BizzCoin Merchant Solution
- BizzGaming – Play games and win BizzCoin
- BizzATM – Cash-out & Cash in thru ATM
Is BizzCoin Safe and Legit?
Investment in any cryptocurrency is not safe. BizzCoin is not a safe investment. As a cryptocurrency, it’s a high-risk investment.
The money you put into BizzCoin is not safe from price fluctuation. It is the same risk as buying Bitcoin or Etherum tokens. If you are looking for a safe investment, stay away from cryptocurrencies.
There is no investment without risk, and you cannot interpret the market risk as a scam or illegal investment.
However, many BizzCoin reviewers say the TRC20 Coins is a scam because the offering price dropped from 39 cents to 22 cents.
Other reviews doubt the legitimacy of BizzCoin based on the argument that it is unregulated Investment Companies. This argument shows the reviewers do not understand the importance of Decentralization in cryptocurrencies.
Cryptocurrencies exist because people want to avoid regulations. If this makes BizzCoin a scam, then Bitcoin and Etherum are scams too.
When we discuss the legality of BizzCoin, it’s no different from Bitcoin or Etherum. These cryptos are legal in the United States until the Government decides to outlaw them.
So, you cannot say BizzCoin is illegal.
BizzCoin cryptocurrencies are legal assets to trade on the crypto exchanges. However, it doesn’t mean the investment is safe.
Don’t invest in BizzCoin unless you are willing to accept the risk of losing all your money.
How To Get BizzCoin?
There are two ways to buy BizzCoin.
You can buy BizzCoin (BIZZ) on one of the following exchanges: HitBTC, Bilaxy, ExMarkets, and Fatbtc.
Or, you can acquire the BIZZ tokens through the BizzCoin MLM program by purchasing one of these investment packages:
- Starter – $57.98 (€50)
- Pro Starter – $115.95 (€100)
- Business – $579.77 (€500)
- Pro Business – $1,159.55 (€1000)
- Trader – $5,797.73 (€5000)
- Pro Trader – $11,595.45 (€10,000)
The number of BizzCoins (BIZZ) you receive from purchasing an MLM investment package depends on its market value at the time of purchasing.
For example, you bought the Pro Business package for $1,159.55. If the BIZZ trading at the time is $0.21, you receive roughly 5,521.6667 BIZZ tokens.
The difference between buying BIZZ on the exchanges and buying an MLM package is the BizCoins go into an incubation period of 52 weeks. You have no excess to the token during the incubation period. However, you will earn a passive income of up to 10% per month. We’ll discuss this 10% passive income when we review the BizzCoin compensation plan.
BizzCoin Sign Up
Signing up for a BizzCoin account is free. All you need is an email address.
There is no requirement to purchase a BizzCoin MLM package at the time of signing up. However, you will not be able to earn passive incomes or commissions on a free account.
After completing the registration process, you must verify your email address to log in and access the BizzCoin back-office and a referral link.
BizzCoin Price
At the time of writing this BizzCoin review, the BIZZ price on the exchange is $0.21.
The BizzCoins have been trading lower than the offering price of $0.38 since it went public. The price will fluctuate every day. I suggest you check the exchanges for the most recent BizzCoin price.
You also should know that there is a transaction fee associated with buying cryptocurrencies. It is an additional cost to purchase the BIZZs.
When you purchase the MLM package, BizzCoin will charge a $10 activation fee for each transaction.
How To Earn From BizzCoin?
The most obvious way to make money with BizzCoin is the price appreciation of investing in the tokens. This earning is not immediate. It’s a long-term investment strategy with the risk of losing everything.
BizzCoin does offer you a way to earn immediate income through its MLM program.
The BizzCoin compensation plan provides an outline of seven different types of income to earn with BizzCoin. These incomes fall into two categories, Passive and Active Income.
To understand how the compensation plan works, let discuss it.
BizzCoin Compensation Plan Review
The requirement to make money with BizzCoin is buying one of the MLM packages. If this is your plan, then a thorough understanding of the compensation plan will help you maximize your earning potential.
We will review the BizzCoin compensation plan under these two categories:
1. BizzCoin Passive Income
As discussed earlier, any MLM Package you buy goes into an incubation period of 52 weeks.
During this incubation period, BizzCoin pays you a monthly passive income of up to 10%, depending on your Package.
But, how can BizzCoin be able to pay you this 10% passive income?
People began to doubt the legitimacy of this compensation plan. Due to the lack of understanding about crypto mining, online reviewers start labeling BizzCoin a scam.
Here’s how this passive income works.
When BizzCoin created the TRC20 tokens on the TRON blockchain platform, the company announced a total of 320 million BIZZ available for minting and distribution on the market.
Amounting 320 million BIZZ does not mean BizzCoin owns all these BIZZ. Whoever mines the TRC20 token is the owner of the BIZZ.
TRON blockchain uses the process of Delegated Proof of Stake (DPoS) of minting crypto tokens.
Under the DPoS mining systems, new blocks validation depends on the number of coins currently staked, not by a network of mining nodes.
So, to mint the 320 million BIZZ, BizzCoin needs to create a pool of stakeholders for validating new coins. The company does this by placing your MLM package in the incubation period of 52 weeks.
You become a stakeholder during the incubation period. As a stakeholder, you have the right to share in the new coins minted.
That’s a quick overview of the BizzCoin passive income.
2. BizzCoin Active Income
You earn active income from recruiting others to join the BizzCoin MLM program.
There are the types of active income to earn with BizzCoin.
- Direct Income: Every time your referrals purchase an MLM Package, you get a 10% commission of the package value.
- Team Bonus – A 7%, 8%, or 9% of the binary bonus is paid to qualify members at midnight UK time (GMT). To receive this bonus, you must recruit two people. Both recruits must purchase at least a Starter Package.
- Matching Bonus – Only investors who have purchased a Trader or Pro-Trader MLM Package receive this bonus. It pays up to 5 Levels. You get a 2% bonus every time someone in your 1st Generation to 5th Generation earns Team Bonus.
- Renewal Bonus – Each time a team member buys a new Package or renews their Package, you get a Direct Bonus, Team Bonus, and Matching Bonus again.
- Escrow Reward – You earn a 20% commission for depositing the BIZZ tokens in an escrow wallet. You receive the payment upon completion of the maturity period of 365 days.
- Ranks And Rewards – You receive a reward for moving up the leadership rank. These are the ranks:
- Team Leader-200 points
- Executive Leader-400 points
- Regional Director- 900 points
- Executive Director- 4,500 points
- Regional President 9,000 points
- Executive President- 21,000 points
- President- 60,000 points
It’s impressive to see that you have seven different ways to earn with BizzCoin.
However, don’t expect to get rich with this opportunity. Based on statistics, over 99% of MLM investors earn nothing.
Is BizzCoin A Pyramid Scheme?
The world is currently over the moon with cryptocurrencies. But not everyone is convinced crypto is legit.
Famous economist, Nassim Nicholas Taleb, calls cryptocurrencies a pyramid scheme. It has characteristics similar to a Ponzi scheme, a type of pyramid fraud where you only make money based on people who enter after you, buying cryptos.
He argues crypto cannot be a currency due to its volatility. It’s a trick to steal money from investors and disguise the scam by channeling returns.
No one can say forsure BizzCoin is pyramid scheme.
However, the SEC Investor Alert: Ponzi schemes Using virtual Currencies highlight a few red flags to identify a Ponzi scheme.
Since BizzCoin is not a US MLM company, it enjoys the freedom of operating outside the FTC rules and regulations for MLM.
If we apply the FTC MLM guidelines, BizzCoin is a pyramid scheme.
BizzCoin is a pyramid scheme because members make money by recruiting others, not selling a product.
The BizzCoin tokens (BIZZ) are not a product. It’s a virtual currency. Therefore, the BizzCoin MLM program is not legit.
The Pros And Cons of BizzCoin
Some people don’t care about the legitimacy of the BizzCoin MLM program. If they can make money, they sell it to others.
I still encourage you to consider these pros and cons before jumping on the BizzCoin bandwagon.
BizzCoin Pros
- Cryptocurrency is hot. BizzCoin offers crypto an MLM opportunity.
- You can potentially earn multiple types of income.
- It requires a small investment. The Starter Package costs only $57.98 (€50).
Those are a few benefits of investing in BizzCoin. It’s not many.
BizzCoin Cons
- BizzCoin is not a US company. It is an unregulated regulated MLM opportunity. Remember, MLM regulations are different from cryptocurrency decentralization.
- The BIZZ has no value. It applies to all virtual currencies.
- You make money by recruiting others into the program.
- BizzCoin doesn’t pass the FTC guidelines for a legit MLM company. You are joining a pyramid scheme in the US.
- This MLM business opportunity operates on the belief that the world might accept the BIZZ as a currency. Who can guarantee BizzCoin this dream will become a reality?
This investment has more risks than benefits. It’s up to you to decide if BizzCoin is right for you.
BizzCoin Review Conclusion
I see BizzCoin as an investment, not a business opportunity.
Investing in cryptocurrencies might be hot today, but this can change tomorrow.
BizzCoin is a risky investment with little potential to generate profit.
You start a business to make money, to earn an immediate income. BizzCoin cannot offer you stable profits because payments are in cryptos, the BIZZ.
The value of the BIZZ fluctuates every minute. It is more of a long-term investment than immediate income.
Sure, you might make a lot of money in the long term. But there is also a chance that you might lose all your money investing with BizzCoin.
If you are looking for an opportunity to make money or earn a second income, BizzCoin doesn’t look promising.
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I hope this BizzCoin review answers your questions about the crypto MLM business.
Until next time.
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