BitTrain’s operation, which centers on its BTRC Coin points, lacks any transparency regarding its leadership. The company’s website lists Allen Coko as CEO and John Kin as co-founder. However, investigations reveal Coko has no verifiable online presence outside of BitTrain. Kin’s social media profiles, created in December 2018, serve solely as platforms for promoting BitTrain.
The domain for BitTrain, “bittrain.info,” was privately registered on February 15th, 2019. This registration date directly contradicts the company’s claim of operating since May 2018. Such a discrepancy raises immediate red flags about the legitimacy of the enterprise. When a company, especially one soliciting investments, fails to disclose its ownership, potential investors should exercise extreme caution.
BitTrain offers no tangible products or services for sale. The only available option for affiliates is to market BitTrain affiliate memberships. This structure is common in schemes that rely on recruitment rather than genuine commerce.
The core of BitTrain’s model involves affiliates investing in BTRC Coin points, with a promised return of 8% weekly. Eleven investment tiers are available, ranging from a $100 Starter Pack to a $250,000 Millenium Combo Trader package. Each tier includes a subscription fee, the duration of which is not specified but is presumed to be a recurring monthly charge.
The value of BTRC points, which began at $1 in January 2019, has reportedly surged to $4 per point, according to BitTrain’s anonymous administrators. This inflated valuation is a typical characteristic of Ponzi-like schemes. Furthermore, all requests for withdrawals of returns or commissions incur a 10% fee.
Affiliates are incentivized through a unilevel compensation plan. This structure rewards members for recruiting new participants. A 10% commission is paid on personally recruited affiliates (level 1). Commissions on deeper levels (levels 2 through 12) are unlocked based on the affiliate’s investment amount. Investing $1000 unlocks commissions on levels 2, 3, and 4 at decreasing percentages. Higher investment tiers unlock commissions on even more levels.