BitClub Network claims to be a Bitcoin mining operation where users invest money in order to get a share of the revenues generated by the BitClub Network mining pool. A member can also generate revenue by sponsoring/referring new members to join BitClub Network .
The BitClub Network -Scam is well organized, as the BitClub Network mining pool actually exists. The participating members are just not paid from the mining operations Block-rewards.
Payouts are minimal and participating club-members need to pay a high fee, if they want to get their earned funds paid out, unless they have at least earned 2 BTC.
The Black-Hole of Money
Investments are valid for only 600 days and then simply vanish into BitClub Network `s “Black-hole of money”.
Between 30 - 50% of all earnings are forced to be “reinvested” into the system to refinance the operation. Another indicator for a Ponzi scheme.
There is NO actual product behind BitClub Network, as the money is made by recruting others into the system.
The club explains their “product” to be the mining operation and they claim, that the participants should own a piece of the mining hardware, even though these participants are not allowed to know
1. what equipment they purchase
2. where their bought equipment actually is located due to “legal issues”
3. which person or company they are paying to.
It is officially possible, according to BitClub Network`s website, to get your hands on the hardware, if the member pays a one-time fee. I assume, that this fee is very high and will not cover the investment costs in any way. They might even ship some old Antminer with no actual value at all.
Where is the proof ?
I have been in the legit Network Marketing industry for a very long time.
YES, Network Marketing is actually a legit business form, though widely abused by criminals, hiding behind great success stories and achievement by Tupperware, Amway, Herbalife, Avon, Mary-Kay and others.
Ponzi scheme, pseudo MLM`s actually harm these legit companies a lot. Damaging their reputation and image in the public, stealing customers away from real products delivered by real people. No matter if these products are digital, paid with crypto or physical paid with crypto or fiat currency.
I decided to get more information around BitClub Network from the inside to get proof-of-work in crypto terminology.
I really wanted to see how the system operates and what actually is or is not paid out, as claimed on BitClub Network `s website.
How much money is involved?
To be a member of BitClub Network you have to pay 99$ worth of Bitcoin for your membership-fee. This fee gives you access to the BitClub Network -platform to be able to invest in the mining operations. The fee grants you access to:
1. Training and education about Bitcoin mining
2. Full access to the exclusive Bitcoin Mining pools
3. ClubCoin Opportunity – Get Free ClubCoin (worthless noname coin)
… in other words: YOU GET NOTHING!
A registered member can choose between 3 pools. Pool-1 costs you 500$, Pool-2 costs you 1,000$, Pool-3 costs you 2,000$ and… if you have too much Bitcoins (and if you are totally nuts), you can “invest” in the so called “Founder pool” which costs you 3,500$ worth of Bitcoins.
-> To all Steemians: Think about how much steem-power you can buy for 3,500$.
I decided to test BitClub Network with Pool-1 for a total of 599$ including the membership-fee. A total waist of money, but hopefully it can spare others to be as stupid as I was.
How much do they pay you?
BitClub Network doesn’t pay anything for the first 10 days! From day 11, they pay around 0.17$ (0.000305 BTC) or 0.85% monthly on average.
SHOW EARNINGS SHEET
Sounds decent? Think again: To withdraw the money lossless, it will cost you money, unless you have already earned 2 BTC (around 1,150$).
To make 2 BTC with Pool-1 will take approximately 18+ years, unless Bitcoin reaches 10,000$, than it will only take you… 18+ years.
Is ROI (Return of investment) even possible with BitClub Network ?
The simple answer is: NO WAY!
If you join the 500$ pool like me, you will get 50% of your share from the pool. The rest will be used to “…fund the mining operation and to purchase additional mining shares…”.
If you decide to include the meaningless membership-fee, you will need to make at least 0.99$ on a daily basis to break even after 600 days (the pool-lifetimes at BitClub Network ).
Since you are keeping only 50% of the profits, this means you need at least $1.98 daily revenue to break even. I make around 0.34$ daily, which equals a ROI after 9+ years!!!
If the company, sorry the club, still exists then and the profits stay the same,
I can expect some profits in 2026.
If you argue against this and your argumentation is based on Bitcoin’s rising price in the next years to come and you assume that the invested $500 will give a profit, think twice.
You could just buy and hold Bitcoins or even better Steem and you will make that profit, too.
Do you want to make money fast istead of wasting your time with BitClub Network?
Unveiling the smart methods to make money with the Bitcoin
If your answer is yes, then you can think along the lines to explore several avenues. For example, you need to grab some Bitcoins. You can make use of the Bitcoins for trading. Plus, they can be useful when it comes to making purchases online.
The most significant benefit of the Bitcoins is that they make use of encryption, and this is why it becomes easy for you to make safe transactions. By now, you must be curious about how you can get hold of the Bitcoins, so let us give you insight into this process.
Writing content related to Bitcoins
You can think along the lines to write about the Bitcoins. If you have significant knowledge related to the Bitcoins, then you do have an edge. The reason is Bitcoins is a new niche, and most people lack knowledge about this niche.
You can cash on this situation, and make money out of it. What most new writers do is that they pick the existing content from the internet and rewrite it.
The drawback of this practice is that the content quality gets adversely affected.
Several sites encourage knowledgeable writers to write about the Bitcoins. These sites include Blockchain Aliens and CCN. The smart approach is that you should spend time exploring these sites so that you can choose the best avenue without a problem.
Initially, you should look at the kind of crypto content that the sites use. You should try to write on a similar pattern so that the content gets approved, and you can start earning.
Visiting the Bitcoin Faucet websites
There are times when you are looking for a hassle-free way to make quick money. Well, if this is the case, then you should think along the lines to visit Bitcoin Faucet websites. Usually, these sites require you to have a look at a few ads, and you may need to complete a few surveys related to the Bitcoin.
The benefit of this practice is that the sites tend to pay you a small amount from their revenue. If you are eagerly looking for such a website, then we recommend that you have a look at earn.com.
When you visit the site earn.com, then you will notice the fact that you can also earn a decent amount by replying to emails, so this is an opportunity that you should not miss out by any means.
Explore micro jobs
If you are willing to do micro-jobs, then again, you have an opportunity to earn in Bitcoins. For example, you can visit the website Bitcoinget, and the site readily pays you about 20,000 Satoshis for completing a task.
You can also earn by doing small tasks offered by the website Cointasker. If you make use of Cointasker, then you can also earn Bitcoin by watching videos. Secondly, you can also earn Bitcoins without registration with Cointasker.
Consider mining the Bitcoins
Are you aware of the fact that it is practically possible for you to mine Bitcoins? What Bitcoin miners do is that they solve complex mathematical problems. In return, they can get hold of Bitcoins.
The miners play a crucial role in the Bitcoin Network. The truth is that you can even mine Bitcoins using your home computers. However, there is one thing that you need to keep in mind. Bitcoin mining has become a competitive field.
Most of the miners are interested in buying expensive equipment so that it becomes easy for them to solve complex algorithms also. The objective of every miner is to solve the algorithm fast. For this purpose, the miners are willing to combine their processing power in mining pools.
When the miners solve the complex algorithms, they get miner fee. If multiple miners contribute their processing power in the mining pool, then the fee gets split among the miners.
There is no denying the fact that mining is the most effective way to make money using the Bitcoins if you have the relevant insight.
Earn Bitcoins by assisting others
Well, if you are looking for a shortcut to earn Bitcoins fast, then you are in for some good news. You can even earn Bitcoins if you help others. For example, there is a website by the name of Bitfortrip. The website pays you for assisting others.
Let us assume that someone is looking for a YouTube video. If you can help the other person find the video, then you can earn Bitcoins.
Trading the Bitcoins
If you possess knowledge about the Bitcoins and are aware of the market trends, then you can trade Bitcoins also. What you can do is purchase the Bitcoins at a low price, and sell them off at a high price. The benefit of this practice is that you can make a significant profit this way.
However, there is one thing that you need to remember when trading Bitcoins. The market is volatile, so you cannot afford to go wrong here. You should only take calculated risks.
The good news is that you can reduce the risk factor if you indulge in day trading. What you need to keep in mind is that the risk level will also get reduced when you go for day trading.
You can also go for binary option trading using the Bitcoins. Now, let us give you insight into how to indulge in binary option trading using the Bitcoin. Let us assume that you buy the Bitcoin at about $3000 at 10:00 am. Your assumption is that the price of the Bitcoin will increase by $3000 at 6:00 pm. Now, if by 5 pm the price of the Bitcoin exceeds $3000, then you are eligible for a profit.
However, if your assumption does not turn out to be true, then you will lose your money. Before taking a plunge into trading, it is vital that you should join forums that can give you insight into binary option trading. You can also seek the assistance of Binary Option Brokers that allow trading using Bitcoins.
Look at tutorials that specifically give you an idea about trading using Bitcoins.
Try lending your Bitcoins
Most people are aware of the fact that Bitcoins are a decentralized currency. They do not require validations, and this is what makes it simple for the users to make the Bitcoin transactions.
If you want to earn some quick money, then you can lend your Bitcoins to anyone, and you can decide on a specific interest rate. There is no denying the fact that lending the Bitcoin can be one of the best ways to make use of your wealth.
Now, you might be wondering about the platforms that you can use for lending your Bitcoins. There are several sites like BTCpop, Unchained, Capital, and BitBond. These sites offer you a platform for lending your Bitcoins.
However, there is one thing that you should keep in mind before lending your Bitcoins. Always choose a credible platform for lending or borrowing of Bitcoins. Make sure that you read online reviews about your chosen platform, and this way, you can play safe. You will be confident of the fact that you will earn a profit at the end of the day.
Going through the pay to click websites
You can also visit the Pay to Click Websites. What these websites do is that they pay you in Bitcoin for watching an Ad. You can visit websites like Coinadder, and it pays you about 25 satoshis when you click on an ad.
Secondly, if you share your referral link with others, then you can increase your earnings by 20%.
Cashing out on Arbitrage
We are all aware of the fact that there is a fair chance of losing money when you trade cryptocurrency like Bitcoin. However, you do have the opportunity to cash out on the situation also. Arbitrage involves buying and selling the securities simultaneously.
When you go for Arbitrage, then the benefit of the practice is that you can get access to the same asset at different prices. To make use of Arbitrage, it is essential to be vigilant about the bitcoin price in different exchanges. You can make a massive profit this way.
Use the Bitcoin as a mode of payment
When you want to monetize on the Bitcoin, then you can accept it in the form of payment also. For example, if you offer different services, then you can take Bitcoin from your customers in exchange for money.
If you receive your payments in the form of Bitcoin, then you will not have to go through the hassle of acquiring payments through the complicated bank procedures. It is essential to mention another essential aspect here, and that is, many businesses are already accepting payments in the form of Bitcoin.
Go for Bitcoin affiliate marketing
Do you know that you can also make a significant amount of money when you indulge in Bitcoin affiliate marketing? Well, by affiliate marketing, we mean that you generate commission by offering leads to businesses.
You can also indulge in affiliate marketing for Bitcoin services like Paxful. The first step is that you need to sign up for the affiliate program as an affiliate marketer. Once you get approval as a marketer, then you will be able to access the company’s product or service URL.
The URL will have a unique identifier also. The reason is that the company will want to keep a track record of the URL’s assigned to the marketer.
Now, you have the freedom to share these links on your social media platforms which includes Facebook and Twitter. If someone visits the link and decides to make purchases through the link, then you can earn the commission.
When you join the Paxful affiliate program, then you get 50% commission from your direct affiliates. However, it is essential that you need to have a strong following on your social media platforms, so that it becomes easier for you to reach out to potential clients.
Trying being a masternode
You can also earn a significant amount by being the masternode. Well, the masternode refers to the wallet that keeps full track of the blockchain in real-time. The masternode has a crucial role to play. It tends to give information about valid transactions to other nodes.
Ensuring the protocol operation goes smoothly is also the responsibility of the masternode. PIVX and Dash are some of the coins that offer the best incentives for the masternode.
Some people also consider gambling as an option for earning Bitcoins. However, it is vital to clarify one thing here, and that is gambling may not be the best avenue for earning the Bitcoins. Now, Bitcoin gambling is a new term.
If you join a cryptocurrency casino, then you can get a massive bonus just for joining the casino. For example, casinos like Bitstarz allow you to play games and pay for the games using the Bitcoins. What you need to keep in mind is that there is a possibility of losing money also when you play games through casinos.
Before choosing any of the methods above, the best approach is that you should compare the options. Next, you should decide which option best suits your needs. It is crucial to keep one thing in mind, and that is, you should prefer long-term earning solutions that can offer you consistent earning.
As discussed above, mining can be the best solution if you want to make potential income and consistent income. Casinos should not be your preference because there is a lot on the line when you choose a casino for earning bitcoins.
Now, if you want to start earning through the Bitcoin, then there are some safety measures that you need to adopt. The essential aspect is that you have to keep your wallet safe. Enable Google Two-Factor authentication. Secondly, it is also vital that your anti-virus should be updated.
Follow all these guidelines, and you will earn a significant amount through Bitcoins.