Are you looking for an honest Bonus Bitcoin Review? Or do you simply stumble across the program and wonder if it’s just a hype program taking advantage of the bitcoin name? Bonus Bitcoin claims to be a way for you to earn FREE bitcoins. Sign up, do nothing, and you get free bitcoins. Sounds too good to be true?
Bitcoin scams are popping up every minute as scammers take advantage of the hype and excitement surrounding cryptocurrency. Add to that a lot of people don’t really understand what Bitcoins really are, and you have a recipe for an easy scam!
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The Bonus Bitcoin website suggests that you can claim free bitcoins, without spending any money through the free bitcoin faucet. Bitcoin faucets are not a new thing, with the original bitcoin faucet develop in 2010 by software developer Gavin Andersen. The original faucet actually gave out 5 BTC per person, I wish I had of known about it back then! Common faucets these days give out fractions of a bitcoin known as a Satoshi, which is one hundred millionth of a bitcoin (0.00000001 BTC).
There are many variations of bitcoin and other cryptocurrency faucets and some of them are scams. The trick is knowing which one’s are scams, and which ones are not. On face value they seem incredibly sketchy. But once you understand how they work, you can start to see how they can offer what they do!
How Does Bonus Bitcoin Work?
Below is an image of the Bonus Bitcoin websites offering, and I must admit its seems appealing. Just to put it into terms that everyone can understand, you receive 5,000 satoshi per “claim” which is at the current bitcoin price is $0.45 USD.
That immediately makes it seem a lot less attractive than other free systems, such as filling out online surveys for example.
Here are the key points:
- Claim every 15 minutes
- Receive up to 5,000 satoshi per claim
- Automatic 5% daily bonus
- On demand free withdrawals
- 50% lifetime referral commission
The majority of reviews will write faucets off as scams, and Ponzi schemes due to the about of spam advertising. BUT THAT’S HOW THE ENTIRE SYSTEM WORKS. The advertising views makes the faucet owners money, and in turn gives them revenue to share with you. So how much do they make? Well we can speculate.
How Revenue MIGHT Bonus Bitcoin Make?
Imagine if you will, a site were millions and millions of people come, to earn a small amount of money, not even $1 where you can spam them with advertisements. According to Similarweb, the Bonus Bitcoin website gets on average 10.83 Million users a month that spend on average 43 minutes on page. That presents a massive advertising opportunity!
Worth of Web is a website that analyses traffic, and domain metrics to calculate the worth of a website, and what revenue it can generate. The value of the actual domain is calculated at $29million and the monthly revenue estimated at $130,000.
Now this is purely on advertising calculations. Views of advertisements and click through rates (CTR).
What is does not consider is the revenue generated from any advertisement deals such as affiliate programs, and specific agreements with brands and companies.
I am unsure how others label this a Ponzi schemes, because no one gives any money over to join. There would have to be someone backing it to pass on the bitcoin to subscribers, which would be a rather costly endeavour and very poor business sense!
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What do Real Bitcoin Ponzi Schemes Look Like?
I have had the misfortune, although I would declare it my own fault rather than misfortune, of being part of a few cryptocurrency scams and Ponzi schemes. Unlike most that entered these programs I knew they were a scam from the start, I however thought I could get in, and get out before the scheme folded.
Unfortunately, they never started and took the money and ran before launching! For those of you who don’t know what a Ponzi scheme you essentially borrow money from one person, to pay off another. For example
I convince Tom to invest in my business for a 10 % return.
Tom then wants to take his money, so I convince Sally to invest enough money to cover Toms returns.
When Sally wants her money, I need to find another to pay her off.
And the cycle continues, those in the middle make their money if they get out in time, but eventually you run out of people to borrow from. When everyone comes knocking for their returns you don’t have enough to cover the bill. If you want to read up on the most famous Ponzi scheme of them all, check out Bernie Madoff!
All of the programs I invested in, were Knock offs of Bitconnect. Which asks users to buy the Bitconnect token, which then allowed them to earn interest from a trading bot. What made this work for so long was the rise of Bitcoin and the meteoric rise of the Bitconnect token price (from $1 to $500).
Now you can do all your own reading on Bitconnect, but the important thing to take away from it was there was no proven or even a feasible revenue stream.
Bitcoin Bonus – Scam or Legit? The Verdict
I do not believe Bitcoin Bonus is a scam in any way. I believe the owners are probably making a nice sum of money, and everyone who joins up may be making a few dollars.
At the end of the day this isn’t an investment platform, or an opportunity for you to make your fortune. It is just a fun and novel way for you to make some free bitcoin and get in on the excitement of cryptocurrency.
Who knows maybe you will make $50 or $100 after a while, and I have the perfect thing for you to spend that money on! A legitimate way to make REAL money online!
How Do You REALLY Make Money Online?
Countless people make a full time living earning money online and the best part is you can too! However, if you are in search of a get rich quick scheme you will be left disappointed. There are no get rich quick schemes. No silver bullets when it comes to making money online.
If you are prepared to dedicate your time and are committed to doing SOME work, then read on. I have reviewed literally 100s of programs in search of the best way to make money online. Below is my number 1 recommendation and it is what helped me to get into the position I am in today.
It will teach you the tools YOU NEED to make money online, and to be successful. Regardless of how you want to make money online you need to know how to sell it, where to sell it, and how to run your business. This is how I learnt ALL of that, and grew to the position I am in today.
If you are serious about making money online this is the program for you:
This simple program has made me the MOST money online.
>>>> Check Out My Number 1 Recommendation For Making Money Online <<<<