Bitcoin as a Hedge Against Upcoming Global Market Crash
Bitcoin (BTC) has thus far flourished in 2019, surging 188% from its December lows of $3,150 to a recent high of $9,070 on May 30.
This extremely bullish price action is contrary to the prices seen in traditional stock markets, as the world’s biggest economies have suffer from a minor financial downturn. As reported by Tuur Demeester, the founding partner of Adamant Capital, Bitcoin’s bullish price action could be attributed to international macroeconomic issues that tend to have a direct impact on Bitcoin’s price. Therefore, could Bitcoin be used as a hedge against an upcoming global market crash?
US-China Trade War Positive for Bitcoin
According to Demeester, the US-China trade war could be fueling this year’s bull run, as it is negatively affecting the Chinese yuan and appears to be positively affecting the price of Bitcoin. In his Medium post,
he said:
“On May 5th, the Chinese yuan started weakening against the US dollar, and 13 days later traded 2.5 percent lowerâ—âa huge move in forex terms. Remarkably, that was also the week that Bitcoin broke above the resistance of $6,500.”
In addition to this, the Russian international television network RT also suggested that the trade war between the two economic giants could potentially be leading Chinese investors to abandon the yuan and seek out Bitcoin in anticipation of the yuan falling further. Furthermore, while Bitcoin and cryptocurrency trading is banned in China, Chinese traders are still managing to trade, and China has a vibrant over-the-counter (OTC) market, according to BitMEX CEO Arthur Hayes. Hayes said that just because OkCoin and Huobi have halted operations in mainland China, doesn’t necessarily mean they have exited the Chinese market. In fact, Hayes believes the Chinese cryptocurrency market is very strong,
stating:
“The OTC market is vibrant, and these venues have found politically acceptable ways to allow buyers and sellers to meet in China. Zhao Dong, arguably the largest OTC trader in China, is one of the main people responsible for the successful $1bn Bitfinex LEO IEO. He went on the record supporting Bitfinex to the Chinese crypto community, and his clout and network helped Bitfinex win back the Chinese traders. China still matters.”
Article Produced By Jeremy Wall
Jeremy is a financial writer and aspiring investor. He is also a cryptocurrency enthusiast that’s fascinated with blockchain technology and the financial markets. When he’s not researching and learning about cryptocurrency, he’s traveling the world with his dog and girlfriend.
Own A Piece Of Markethive — Lifetime Income Opportunity
Markethive, the first Social/Market Network built on the Blockchain, introduces The Entrepreneur Program
The Entrepreneur program is designed to leverage your system. Your free Markethive system is a market network, like a social network, but with powerful inbound marketing tools integrated into the system.
This premier hybrid social network includes news feeds, blogging platforms, video channels, chat channels, groups, image sharing, link hubs, resume, profile page and peer to peer commerce.
But more than a social network, we have also delivered to you “Inbound Marketing tools” like broadcasting, capture pages, lead funnels, autoresponders, self-replicating group tools, traffic analytics, and more.
Plus, we are built on the Blockchain which allows Airdrops of Markethive Coin (MHV) , upon joining and micropayments for using the tools mentioned above. This is all free to you.
The Heroes of this time, this plague this judgment
12 hour shift on their feet. And yes, she knows you want another cup of ice chips but, the man they brought in last night has just crapped on himself, for the 3rd time today, and his daughter is visiting him from out of town so……
Meanwhile a patient….
*Needs to pee.
*2 families are calling for status updates.
*One patient is LOUDLY demanding pain meds.
*A doctor is making his rounds.
*3 heart monitors just got detached.
*The pizza just arrived and she's short $1.50. And yes it’s cold.
*She is underpaid
*Overworked
*The cafeteria is closed early today (hence the Pizza).
*She has washed her hands for the 197th time today.
*She just got called dumb by a person who didn't pass the 10th grade and even though she has a BSN or Masters degree in nursing.
*She literally CAN'T get the IV pump to stop beeping.
*She just saved her 7 millionth patient, from being prescribed the wrong medicine.
* She just ran down the hall for a Code Blue to perform CPR to resuscitate a patient for the third time this week with blood and bodily fluids spurting up on her fresh pair of scrubs.
*And all 3 of them just lost their favorite patient.
Meanwhile, you're ringing the buzzer non-stop, for a cup of ice chips
To all of the Male and Female Nurses ,…we truly appreciate you, we Love u so much and we support you more than you will ever know.
The Answer To Working From Home In The Current World Of New Normal
Working from home is looking to be a real positive as we move forward with the disruptive forces of the COVID-19 pandemic. In countries where the bell curve is starting to flatten, plans of reopening businesses are being discussed although social distancing measures are still enforced. Schools, planes, cinemas, everywhere that have seating in close proximity is being redesigned to cater in the aftermath of this unprecedented catastrophe and it’s looking like this will be with us for the foreseeable future and maybe even beyond. The golden age of socialization is over, now being replaced with an ever-cautionary way of living.
There are 3,389,979 confirmed cases worldwide with more than 1,124,676 United States citizens who have been infected with the coronavirus and at least 65,510 have died according to worldometer.info. More than 1,000 additional deaths have been announced on a daily basis since April 2nd in the U.S.alone.
As the spread of the virus continues, political leaders seek to reopen parts of the country. The economic effect is overwhelming, unemployment claims have spiked and people are starting to feel the negative psychological effects of isolation. Life has been fundamentally reordered because of this virus and although portions of the country begin to reopen, health officials have warned the return of communal events and socializing would come in stages as the virus could surge again with a new wave in the months ahead.
Ballooning unemployment has been the result of this pandemic causing a deep recession. Historically, in any other recession we’ve had in the past, unemployment has been an issue but at a slower pace. This time we have reached record highs in only 2 months and it is being reported it will take a long time to recover.
To Work Or Not To Work
America’s flight crew of various airlines has also reacted to the risky situation of the lack of COVID-19 protocol and restrictions. Although major airlines are allowing passengers to do some seat switching to help with social distancing, passengers are not required to wear masks or stay 6 feet away from each other. This has prompted a call from the union of flight attendants to the Department of Transportation, in coordination with the Department of Health and Human Services, to “end all leisure travel until the virus is contained”.
There has been widespread anxiety among workers in the United States about returning to work as some states attempt to begin the long and tedious process of recommencing economic enterprise at this stage of the pandemic, a survey reveals.
According to a survey conducted by Fishbowl, An overall 81% of workers that took the survey from across the U.S. indicated that they would not feel safe if their state were to reopen now. The survey was answered by 19,689 verified professionals on the Fishbowl app from across the U.S. and included employees at companies such as EY, Deloitte, Accenture, Amazon, Edelman, Nike, Google, KPMG, and thousands of others.
Given that New York is the epicenter of the COVID-19 outbreak in the states, it’s not surprising that the state recorded the highest percentage of 85.35% suffering from the anxiety of returning to work right now, with only 14.64% said that they would feel safe returning to work.
Previous Fishbowl surveys have revealed that 54 percent of workers fear layoffs at their companies as a deep recession grips the country. Nationwide, at least 26 million people have lost their jobs in the U.S. over the last month.
Profound Psychological Change
There has also been a considerable demand for homes in rural areas as people react to the pandemic, wanting to relocate from the dense urban areas to a more virus-free country location.
It has been reported that there seems to be a discerning psychological about-face as people are more interested in buying a house at the foot of the mountains and that’s a complete flip from the demand where everyone wanted to live in the city that has been the trend for a very long time.
So how does that fit in on the job front? Even before the Coronavirus pandemic hit, work from home businesses and the remote job market was increasing as more and more people are seeking a more flexible lifestyle allowing them to work from home. Due to the restrictions brought about by COVID-19 lockdown, companies are increasingly asking employees to work from home, but there are many who have lost their job entirely or laid off as a result of the pandemic.
New Opportunities
Thanks to the technology of social media we can all stay connected virtually, and it also opens up many opportunities for either remote employment or starting your own business from home. The possibilities are many in the online sphere, in fields such as IT and computer, freelance, content creators creative arts, customer service, education, translation, sales, and marketing, and there are many more being created as we enter into this new normal world.
Now we have the next-generation approach to working online and completely facilitating your own business on a platform that caters to e-commerce, creative artists, marketers, entrepreneurs, in fact, anything that comes to mind. This visionary company, Markethive is the perfect springboard to anything you choose to do. In and of itself you can earn an income as you are paid to be active on the site by just referring three people to join you.
Markethive has incorporated Blockchain Technology meaning it has its own ecosystem with the Markethive Coin which is distributed continuously. So just using the platform you will accumulate the cryptocurrency and are able to purchase goods and services. Blockchain Technology and the cryptocurrency sphere has enabled Markethive to align itself with the users’ need and right to be in control of their data and how they use their time to monetize their efforts. As we move forward with the launch of the Markethive Wallet App and coin exchanges the MHV coin will then provide liquidity.
So what we have here is a money-making platform where you can showcase your talents on a social media interface to a multitude of like-minded entrepreneurs. Markethive also delivers the reach across the internet. The ability to register and assign your many social networks into the Markethive system produces the reach into the literal billions. This is the epicenter of all things linear. Below the comparison chart that illustrates Markethive has integrated everything needed for successful marketing and business practice, increasing your brand exposure, and generating an income.
In a nutshell, Markethive is a multi-dimensional, deep level linking dynamics, social organizational integrated system. Integrating Vast Social networks reaches, internal social network connections, unlimited interconnected WordPress blogs, the vast API news sites like NBC, Wired Magazine, Bloomberg, Western journal, Mashable and 1000s of other news sites, that continue to expand due to the power of your own Markethive network and the collaboration of separate Markethive groups all working in union with each other.
Unprecedented New Age
The opportunities and extraordinary value we have here at Markethive are unprecedented and as we move into an age where more people are looking to work from home. In many areas, the internet has become too complicated, too expensive, and too competitive. Not to mention the personal data breaches and lack of privacy that has become big news and a real controversy.
Blockchain technology has made it possible for Markethive to advance and offer far more for far less than any other platform or program out there today. Markethive’s vision is to give privacy, autonomy with every opportunity for true wealth via universal income while simplifying the process for anyone to successfully create and operate any business from the Markethive all-in-one platform.
This puts Markethive in the category of the next generation Market Network and the first to be built on the blockchain. Collaboration and the social media aspect is an integral component and the community spirit has brought Markethive’s vision into reality. Apart from all the features that can be accessed by free members, There is the opportunity to upgrade to The Entrepreneur One Loyalty Program. This is the premium highest level you will ever have the opportunity to acquire. It contains all the leveraged advantages you need to accelerate your success in Markethive. All the benefits are outlined here. This is a time-limited opportunity and there are only two more days to left to upgrade at the time of writing this article.
CEO and Founder of Markethive, Thomas Prendergast says,
“Markethive has already established itself in every country in the world. With the phenomena of the Covid 19 virus forcing the entire world to go home by force in many countries, the world is discovering entrepreneurialism and it is in the not too distant future, Markethive will explode across the planet.
If you had the clear focus of projective reasoning and purchased an Entrepreneur One before this wave explodes, you will be one of the very few with a system that will produce many millionaires and the generational wealth that will materialize, and that is why we built the Entrepreneur One platform. We built it for the Markethive visionaries and early adopters. Do not miss this once in a lifetime event. Do not just stand by as this massive event passes you by. Join Entrepreneur One now before the others sweep it up.”
What has transpired and will be with us in the wake of this global pandemic is the perfect storm for the next generation social and marketing platform, blockchain-driven, utilizing cryptocurrency to rise up from the devastation caused on all fronts. Called a Market Network noted by experts in the field, this is part of the new way of doing things. This is where complete sovereignty and financial freedom is not only possible, it’s probable.
If you like the idea and freedom of working from home or in a position where this crisis has affected you and are looking to adapt to a new career path then this may be the perfect time to shine. Markethive is truly dedicated to your education, success, and sovereignty with the automated tutorials to learn all aspects of Markethive and improve your user experience, plus it also pays all members to learn the Markethive system.
Markethive is at present, in BETA and as this is a mammoth undertaking, some features still in the works. Our target of 500 Entrepreneur Ones is almost complete which means we can move forward with more integrations making Markethive the first and only next-generation Social Market Network on Blockchain. We have the platform, now it’s up to us to learn it and take back control of our own lives, of our lifestyles and our personal happiness.
Deb Williams
A Crypto/Blockchain enthusiast and a strong advocate for technology, progress, and freedom of speech. I embrace "change" with a passion and my purpose in life is to help people understand, accept, and move forward with enthusiasm to achieve their goals.
There’s an expanding global community that believes in cryptocurrency as an alternative to the traditional financial system. Bitcoin, being the first and still with the highest market cap is deemed as “digital gold” However the true nature of Bitcoin would suggest it is a class all of its own. Gold’s history as a medium of exchange dates back to 700BC and in modern-day, up until 1971, the gold standard, (where paper money was directly linked to gold which determined the value of any given currencies globally) led the world to believe that gold was a reliable form of money to fall back on.
Historically, the “fiat” currency was born. Fiat comes from Latin and is often translated as the decree “it shall be done” or “let it be done”. So Fiat money is any currency lacking in intrinsic value as it is not backed by the precious metal, gold. It is declared as legal tender by governments and followed through by people’s faith and belief and use of the paper money made legal tender by government decree. We collectively invest in paper currency because a government entity tells us it is credible, saying “it shall be” currency, prints it, and accepts it as the only valid form of tax payment.
Bitcoin’s advent was realized in the financial crisis of 2008 when society was hit hard by the big bank’s questionable decisions and business practice. Consequently, the bailout was orchestrated by printing more money which causes the money to devalue. The more money around the less it is worth resulting in hyperinflation.
CRYPTO — A Hedge Against Authoritarianism
So arguably, Bitcoin is not a hedge against monetary manipulation, it’s a hedge against authoritarianism. Bitcoin and other altcoins cannot be confiscated and have a strong resistance to governmental powers, unlike gold which is confiscatable and was commandeered from private citizens by the U.S. government back in 1933.
At present cryptocurrency lacks confidence amongst the general population as a form of money, but it certainly acts as a political hedge and is substantiated by the market. As the new financial ecosystem evolves it will be a viable alternative to the traditional money system for consumers and there will no longer be a need to rely on the unscrupulous centralized financial system.
For Cryptocurrency to be adopted in the mainstream and truly taken seriously as money it needs to be a medium of exchange with value and viability. So we have a better chance of understanding the future value of cryptocurrencies let’s see how value is derived. Value is measured by its “goodness” of any given thing. There are certain things that are instrumental goods, in other words, they are goods that we can use to access other goods. Intrinsic goods are valuable in and of themselves and they are the things we work to attain.
It has been said that money can serve no purpose other than purchasing goods. Currencies are instrumental goods. To be effective currencies have to be mediums of exchange and stores of value. So, the value of a currency is in its ability to do those things efficiently and effectively: facilitate transactions and act as stores of value. Can cryptocurrency be both?
Mediums of Exchange Can Become Stores of Value
If a currency is going to be a store of value, the value of it has to be stable. For a currency to have a stable value, it has to be an effective facilitator of transactions. For a currency to be a medium of exchange, it has to be universal. The ubiquity of a currency, and the increase of value that comes with it, corresponds to the network effect. The more widely a currency is used, the more flexibility that currency has to facilitate transactions, which stabilizes its value because simply, the more people accept it as a valid form of payment, the more people will use it as a form of payment. And as a currency’s popularity increases, its value increases.
It also increases when demand is more than supply. Unlike fiat, which can be printed when needed by authorities to pay for things, cryptocurrency has a finite amount and cannot be increased at will, so the more people that use it the higher the value. So we have evolved beginning with trade and barter, then came paper money because it was then a more efficient medium of exchange, however, overtime trust and reciprocity issues have developed and now the new kid on the block, cryptocurrency.
If the value of a currency is affirmed by its flexibility and universal usage, then that currency’s viability depends on its users’ understanding that it is a better facilitator of transactions than other mediums of exchange. For a cryptocurrency to replace paper money users need to believe that instruments like Bitcoin, Ethereum, and MHV are better at facilitating transactions.
What Ways Does Crypto Improve On The Technology Of Paper Money?
Cryptocurrency is a more effective facilitator of transactions than paper money. It’s more flexible, and its flexibility will increase as the network grows. It’s digital, it can be used for international transactions, and particularly for the unbanked. Furthermore, there are no conversion fees, and transaction fees are substantially lower.
The technology of all cryptocurrency is the Blockchain, which is decentralized and deals more effectively with issues of trust and reciprocity than a central bank. Moreover, the distributed nature of the blockchain increases the security of the currency and makes it less susceptible to manipulation or attack than a central bank.
Characteristics of Cryptocurrencies
Why are cryptocurrencies important for the future of digital finance?
Borderless – Drastically reduces fees and processing times due to a lack of cross-border restrictions
Censorship-free – Prevents governments or major institutions from blocking financial activities at a whim
Greater financial control – Individuals can have total control of their funds
Greater security – Prevents fraudulent alterations from third parties
Lower costs – Lower transaction fees thanks to fewer third parties
Greater Accessibility – Reduces or eliminates traditional barriers to capital markets
Much like the internet has forever altered how we live and work, cryptocurrencies have the potential to change how people participate in global financial markets.
The Major Challenge
Right now cryptocurrencies’ major challenge is to overcome the mainstream of prospective users’ suspicion and become known as a legitimate medium of exchange for legal purposes. It took a long time for paper money to be accepted. The idea of a piece of paper in return for something of real value couldn’t be comprehended. Today’s cryptocurrencies go beyond replacing cash. This new token-based economy is evolving, with unique solutions emerging in finance, security, identification, social engagement, and ownership.
An NYU Stern Professor of Finance, Aswath Damordan is pro-crypto in general and predicts cryptocurrencies will eventually be as important as major paper currencies.
“I think there is going to be a digital currency sooner or later that competes with major currencies”
Damordan wrote a blog post, The Crypto Currency Debate: The Future of Money or Speculative Hype? In it, he discusses that the future of cryptocurrencies, as a legitimate form of payment, will have to shake off some of the attributes that make crypto such an alluring and speculative asset especially for the trader. This is because the things that make them so exciting like their price swings, their volatility, their potentially lucrative payoff actually make them terrible currencies.
Ultimately, Damordan says that the cryptocurrency that has the brightest future is the one that thinks about itself “as a transaction medium, and acts accordingly.”
The Real Investment
Investing in cryptocurrencies might be a prudent investment, but which one should it be? Considering there are over 2000 cryptocurrencies some underpinned with a solid workable concept but most are just speculative with not a lot backing it. This makes it hard especially for the individual just entering the crypto space.
The real investment opportunity in this field might be not only cryptocurrencies but innovative applications on the blockchain.
2020 so far has been a precarious year worldwide with the financial markets and has affected several economies due to the COVID-19 outbreak. But in terms of adoption, cryptocurrencies have been gaining momentum globally.
Image source visualcapitalist.com
Bitcoin (BTC) is the first that comes to mind for many wanting to get into crypto as it was the first and remains the largest by market cap. However, it is still considered very volatile which you might say is a traders’ dream. From a traders perspective, there are 90% of buyers and only 10% sellers which indicate the majority are buying and holding BTC particularly ahead of the halving event. Historically, the halving event was followed by a bull run, and traders are optimistic 2020 will be no different.
No matter what Bitcoin’s role will be in the future, it will always be seen as the granddaddy and as it stands now, all other altcoins are correlated with Bitcoins price. Currency (as in Bitcoin) is just one use-case in the bigger scheme of things. Some have argued that other strong cryptos will take over in due course.
Ethereum (ETH) is the second-largest crypto by market cap and remains the most widely used altcoin. Unlike Bitcoin, the Ethereum network uses a proof of stake system to verify transactions, as opposed to Bitcoin’s proof of work and said to be a more diplomatic format, and cost-effective. This means the Ether Coin is staked instead of mined.
The platform was developed by Vitalik Buterin, the company’s co-founder, in 2011. In establishing Ethereum, he wanted to address the issues of the Bitcoin network, mainly that its approaches were individualistic and create a more multifunctional blockchain solution.
The Ethereum Blockchain has some extraordinary capabilities. Just one of those is the Smart Contracts. It’s a contract that completely handles the enforcement, the management also performance, and payment. A smart contract is a phrase used and is described as a computer code that can facilitate the exchange of money, content, property, shares, or anything of value.
As smart contracts are run on the Blockchain, they run exactly as programmed and are not subject to censorship, fraud, downtime, or 3rd party interference. Ethereum is also being used as a platform to launch other cryptocurrencies/altcoins. This is known as an ERC20 token and allows individual companies and developers to issue their own coin.
Markethive Coin (MHV) is an ERC20 token and the company Markethive has made good use of the Smart Contract. This is in the form of the Markethive Coin (MHV) which is an actual Consumer Coin, not a token, and the Incentivized Loan Program (ILP — Smart Contract). Markethive being the first Social, Market, and Digital Media Network built on Blockchain Technology is attracting and gaining high-level exposure due to the nature and fabric of what Markethive stands for and delivers.
Markethive is a completely autonomous ecosystem consisting of three components. Community, Technology, and Liquidity. Markethive has all three groups to bring this collaborative decentralized platform to life as a viable and lucrative platform where not only can they share in the success of the company, but also where its Entrepreneurial members can make a difference, not only in their lives but in the world.
The cryptocurrencies with a true purpose will make their mark in crypto industry history. The ones that are a medium of exchange with the transactional capability that is utilized within and outside the ecosystem which in turn creates a store of value. Given the nature, utility, and consumer value of Markethive will ensure a healthy combination of transactional, and holding activity.
Markethive has in place, numerous velocity stabilizers including staking, (The Vault), network utility expansion, and the fact it is a cryptocurrency consumer coin, will keep the balance of velocity. This ensures that the velocity is maintained for the initial and long term price of MHV and is indicative of a healthy ecosystem. A strong economy will in turn sustainably increase MHV’s price.
Coins or Tokens that are structured to capture a significant portion of the economic value generated by the network will reward both the investors who took on early-stage risk as well as the platform who can continue to fund development through the retention of now valuable tokens.
There is a huge market looking for what Markethive does. You’re not just buying or earning on the platform to accumulate a coin, your using and transacting with it. Markethive is an eternal economy that has more demand than supply, therefore, the demand will continue to outstrip the supply. The bottom line being the Markethive Consumer Coin (MHV) and Incentivized Loan Program or ILP Token (HFS) will only become increasingly more valuable.
Bitcoin and other respected altcoins will play a big part when it comes to liquidity and the ability to transfer and exchange to whatever currency you desire. So, in fact, they can work in synergy with each other, all with a similar but different purpose.
Deb Williams
A Crypto/Blockchain enthusiast and a strong advocate for technology, progress, and freedom of speech. I embrace "change" with a passion and my purpose in life is to help people understand, accept, and move forward with enthusiasm to achieve their goals.
5 Sites To Instantly Buy Bitcoin With Debit or Credit Card
Bitcoin is on its way to becoming mainstream, but the biggest hurdle is letting users instantly buy bitcoins.
Most of the Bitcoin exchanges accept many payment options, with the exception of credit/debit cards. One reason for this is because of the irreversible nature of Bitcoin. However, there are many legit Bitcoin exchanges that have started accepting credit card & debit cards as a payment method. Here are some of the popular & legit Bitcoin websites where you can use your debit or credit card to buy bitcoins. I have tested these all myself. Regarding using a credit card, most of these sites use your cash limit on the credit card, so you need to check with your bank to find the limit of your credit card.
So, without further delay, here’s that list:
Cex.io
Coinmama
Binance
CoinBase
Bitit
Wirex
Do note that, a few credit card companies have stopped allowing the purchase of Bitcoin with Credit cards due to the volatility of the market:
Chase
Bank of America
Citi Bank
However, I have compiled a list of updated sites that allows users from various countries to buy Bitcoin with debit card.
List Of Sites To Purchase Bitcoin Using Debit Card or Credit Card:
1. Cex.io
I used my travel card (prepaid USD card) to purchase bitcoins on Cex.io & it worked like a charm. CEX has been around for years, and it is one trusted site to buy Bitcoin with debit or credit card. When you have verified your account, go to the “Cards” section & add your cards. It may take 1-2 days for card verification, but once it’s verified, you can use it to instantly purchase bitcoins. Along with BTC, you can also buy ETH (Ethereum) using your credit/debit card.
2. Coinmama
Coinmama is another site where you can use your Credit or debit card to purchase Bitcoins instantly. Unlike other sites, CoinMama doesn’t offer Bitcoin wallet & you need to add your Bitcoin Wallet address on which you want to receive Bitcoins. I found the price of Bitcoins to be higher here in comparison to CEX.io. However, this is another option that you should keep when you need to buy Bitcoins immediately.
3. Binance
Binance is world’s biggest cryptocurrency exchange, and it offers an option to buy Bitcoin with Visa or Mastercard instantly. Binance supports a large number of countries, and this platform is idle for those who are also looking to trade cryptos after acquiring it. Binance supports both debit card, and credit card. Binance serves all the countries except USA. The fees is also the lowest, and unlike other platform, you will have access to more sophisticated tools with Binance. Another reason to use Binance is, you will get the best Bitcoin price since it has a lot of buyers and sellers.
4. Bitit
Bitit is a France based Bitcoin company that is selling popular cryptocurrencies including BTC. And they proudly claim to be the easiest place to get started with cryptocurrencies and I too believe so because they are selling cryptos in exchange of more than 10 fiat currencies. Also, one can use their service for buying bitcoin from credit/debit cards instantly as they support Visa, MasterCard, American Express, & Maestro powered debit/credit cards. The process to get started here is simple and as explained below:
And after verification you will be entitled to these limits:
Purchase up to 1500€ per week via credit/debit card
Purchase up to 2500€/week by cash voucher, e-wallet or direct banking.
5. CoinBase: (USA customers only)
CoinBase is one of the most popular websites to purchase Bitcoin, Litecoin & ETH. They also support purchasing Bitcoins using Visa debit/credit card & the process is instant. This feature is available to you only if you are from the USA. If are from any other country, you should look at other options listed here.
To get started buying Bitcoins using a debit card on Coinbase, here is what you need to do:
Register for an account on Coinbase here
Complete KYC
Go to Payment settings page & click on Add payment method.
Select card & add debit/credit card.
Coinbase will make two small transactions.
Login to your card statement account & notice the small transaction amount.
Add it to your Coinbase account under the payment page (This would verify the card)
After this you can start purchasing Bitcoins anytime instantly using your added debit or credit card.
6. Wirex
Wirex is providing a complete crypto banking solution for UK residents and much more. Using Wirex you can buy Bitcoin easily. When you register on Wirex and complete you KYC you get access to a crypto linked bank account. Here you can top-up your account with a debit/credit card and use this top-up to buy BTC anytime. If you are someone looking for a complete banking solution, Wirex is the way to go as they have their physical cards to available for the UK. Here is the deal from CoinSutra: Wirex Deal: Free Virtual and Physical Bitcoin Debit Card.
Conclusion
Exchange Name
Rating Based On Ease Of Use & Fee
CEX.io
8.5/10
Binance
9/10
Bitit
9.5/10
Coinbase
8/10
Coinmama
9.5/10
Wirex
8/10
Bitcoin ATMs
6/10
I will keep updating this exclusive list of sites that allow purchasing bitcoins using a credit & debit card.
Article Produced By Harsh Agrawal
An award-winning blogger with a track record of 10+ years. An international speaker and author who loves blockchain and crypto world. After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.
Own A Piece Of Markethive — Lifetime Income Opportunity
Markethive, the first Social/Market Network built on the Blockchain, introduces The Entrepreneur Program
The Entrepreneur program is designed to leverage your system. Your free Markethive system is a market network, like a social network, but with powerful inbound marketing tools integrated into the system. This premier hybrid social network includes news feeds, blogging platforms, video channels, chat channels, groups, image sharing, link hubs, resume, profile page and peer to peer commerce. But more than a social network, we have also delivered to you “Inbound Marketing tools” like broadcasting, capture pages, lead funnels, autoresponders, self-replicating group tools, traffic analytics, and more. Plus, we are built on the Blockchain which allows Airdrops of 500 Markethive Coin (MHV) upon joining and micropayments for using the tools mentioned above. This is all free to you.
The Entrepreneur program is designed to add gold plating to an already stellar and unbelievably valuable system you receive for free.
The Markethive Coin — MHV Consumer Coin
Notably, MHV was listed on the first of many exchanges, including its own exchange [in development] in March in 2019 and is currently valued at $0.20. The Markethive coin will not be dependent upon speculative value as is the case with other cryptocurrencies and platforms, thereby creating eternal economic velocity in the entrepreneur ecosystem within Markethive.
Come May 01, will be the end of the ILP program with Entrepreneur One other than those who are active with it before May 01. We will also be dropping the Airdrop amount from 500 coins to 100 coins except the current active Entrepreneur Ones who will keep their Airdrops at 500 coins. So if you wait until after April 31 to upgrade, Entrepreneur One will cost $1500 per month (why: because we project just the Entrepreneur One BIX reseller impressions program will make more than $1500 per month).
May 1st Entrepreneur One becomes Entrepreneur One NILP (No ILP). ILPs will officially be priced at $150,000 per ILP. Why? Because as we roll out the money machines and release the next loyalty program we project revenue will skyrocket and payments to the ILPs will begin. The wallet is coming.
Own A Piece Of Markethive — Lifetime Income Opportunity
Markethive, the first Social/Market Network built on the Blockchain, introduces The Entrepreneur Program
The Entrepreneur program is designed to leverage your system. Your free Markethive system is a market network, like a social network, but with powerful inbound marketing tools integrated into the system. This premier hybrid social network includes news feeds, blogging platforms, video channels, chat channels, groups, image sharing, link hubs, resume, profile page and peer to peer commerce. But more than a social network, we have also delivered to you “Inbound Marketing tools” like broadcasting, capture pages, lead funnels, autoresponders, self-replicating group tools, traffic analytics, and more. Plus, we are built on the Blockchain which allows Airdrops of 500 Markethive Coin (MHV) upon joining and micropayments for using the tools mentioned above. This is all free to you.
The Entrepreneur program is designed to add gold plating to an already stellar and unbelievably valuable system you receive for free.
The Markethive Coin — MHV Consumer Coin
Notably, MHV was listed on the first of many exchanges, including its own exchange [in development] in March in 2019 and is currently valued at $0.20. The Markethive coin will not be dependent upon speculative value as is the case with other cryptocurrencies and platforms, thereby creating eternal economic velocity in the entrepreneur ecosystem within Markethive.
This Week in Crypto: Bitcoin Difficulty Plunges, Binance To Make Huge Business Deal, China’s Digital Currency Is Coming
This Week In Crypto is a weekly segment from the Live Coin Watch News team, providing readers with a fun, succinct, and pertinent summary of the most important Bitcoin-related events in the past week or two.
Bitcoin Holds $6,000s
On the weekend, Bitcoin plunged lower, falling from the mid-$6,000s range to $5,800 over the course of a day, marking a loss of over 10%. The drop to $5,800 made many crypto traders feel wary; understandably so, within the next day, Bitcoin is going to close its candle for the month of March, and it closing under the key historical support of $6,400 was something analysts felt would be a precursor to a further drop. But at the eleventh hour, bulls stepped in, taking Bitcoin all the way to $6,475 as of the time of this article’s writing, just under 12% higher than the bottom.
Crypto Companies Announce Coronavirus Initiatives
Unfortunately, the past few days have seen the outbreak of COVID-19 rapidly worsen; there are purportedly over 500,000 cases of the virus, many of which are located in the U.S. and Italy. With this, there’s been a mass mobilization of industry — with companies from Apple and Tesla to Dyson (yes, the vacuum company) and Ford making supplies or contributing dollars to stem the spread and to keep our health workers alive. Bitcoin and crypto companies, too, are joining the fight. Binance, for instance, has revealed a social media campaign during which the company will donate $1 (up to $1 million) for each retweet with the accompanying hashtag #CryptoAgainstCOVID. Ripple has followed suit, committing to donate $100,000 to two Silicon Valley-centric COVID response funds.
Bitcoin Difficulty Drops 16% After Price Crash
If your Bitcoin transactions were abnormally slow and slightly expensive over the past 10 days, you’re not alone. Due to the crypto market’s crash sustained earlier this month, miners with low profit margins have been forced to turn off their machines to avoid mining coins at an unprofitable rate. And as a result, block times have slowed. But a fix was just implemented. On Thursday morning, the difficulty of the Bitcoin network adjusted -16%, the second-largest drop in difficulty in the blockchain’s history. This adjustment makes it easier for miners to “find” Bitcoin blocks, thereby decreasing transaction times.
China Still Committed To National Crypto Asset Project
According to a report from The Global Times published on March 24th, “industry insiders” say that China’s central bank is “one step closer to issuing its official digital currency.” The outlet’s sources explained that the PBOC and private companies — purported to include China’s largest banks and telecom and tech companies — have “completed development of the sovereign digital currency’s basic function and is now drafting relevant laws to pave the way for its circulation.”
Bitcoin Bull Case Gets Huge Boost With Fed’s “QE Infinity”
Announced Monday morning, the Federal Reserve will be implementing a series of programs to “support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.” These programs include the purchasing of corporate debt, Treasuries, and mortgage-backed securities until the economy normalizes again. While the word “infinite” was not mentioned in the Federal Reserve’s press package on this news, many economists and analysts have dubbed these measures “QE Infinity,” as the central bank has seemingly put no limit on how many assets it can buy in the foreseeable future. Many believe that this validate Bitcoin’s bull case.
Binance To Acquire Crypto Data Site CoinMarketCap
According to a report from The Block, Binance is in the “final stages of talks to acquire” CoinMarketCap, the leading crypto data site by traffic and one of the top sites on the Internet (literally). The deal, sources say, will cost up to $400 million. While some have questioned the value of the site, seeing that its primary source of revenue seems to be simple advertisements, many believe Binance wants the site to gain access to the millions of people that pass through the site monthly.
Article Produced By Nick Chong
Nick has been enamored with cryptocurrencies since finding out about them in 2013. He now reports crypto- and blockchain-related news for a number of leading outlets.
Own A Piece Of Markethive — Lifetime Income Opportunity Markethive, the first Social/Market Network built on the Blockchain, introduces The Entrepreneur Program
The Entrepreneur program is designed to leverage your system. Your free Markethive system is a market network, like a social network, but with powerful inbound marketing tools integrated into the system. This premier hybrid social network includes news feeds, blogging platforms, video channels, chat channels, groups, image sharing, link hubs, resume, profile page and peer to peer commerce. But more than a social network, we have also delivered to you “Inbound Marketing tools” like broadcasting, capture pages, lead funnels, autoresponders, self-replicating group tools, traffic analytics, and more. Plus, we are built on the Blockchain which allows Airdrops of 500 Markethive Coin (MHV) upon joining and micropayments for using the tools mentioned above. This is all free to you.
The Entrepreneur program is designed to add gold plating to an already stellar and unbelievably valuable system you receive for free.
The Markethive Coin — MHV Consumer Coin
Notably, MHV was listed on the first of many exchanges, including its own exchange [in development] in March in 2019 and is currently valued at $0.20. The Markethive coin will not be dependent upon speculative value as is the case with other cryptocurrencies and platforms, thereby creating eternal economic velocity in the entrepreneur ecosystem within Markethive.
Entrepreneur One Upgrade. A Reciprocal Blessing. It Works Both Ways!
A Path To Self-Sovereignty. The Solution To Oppression.
Markethive is here and brings a whole new level to empower people. Markethive is truly a blessing and a vision to bless Entrepreneurs. Entrepreneurs are the lifeblood of liberty and freedom, liberty and freedom is a gift from God, so Markethive is a vision God is using to bless people. Unlike all other platforms where you pay to use the linear systems to fulfill your marketing goals and business outcomes, Markethive’s inbound marketing platform is free to use, along with the collaboration and social connections found on the Markethive social media platform. In today’s online world this is a blessing and unrivaled by any other platform out there today.
Not only does Markethive give this platform for free but the system pays you in MHV coin to use it. (Just refer 3 people to activate the Micropayment Faucet System) This means as a free member you can earn and accumulate MHV coins to buy services, products, banner impressions, in fact, anything on the Markethive platform once these systems are up and running. You will even be able to convert MHV to your currency once the exchange, wallet, and KYC are implemented.
Become an investor : Click this link to upgrade before May 1st. Upgrade here
A comparison to just one of the linear inbound marketing platforms
To take it one step further, the ILP is designed to bless you back. Most have found and perceived it to be impossible to succeed online. It’s too expensive for them and the scams are unrelenting, merciless and soul-destroying. Instead of a select few investing millions of dollars to develop Markethive’s unique all-encompassing platform, the ILP along with the Entrepreneur Loyalty programs are designed to bless you, the people, with self-sovereignty and financial stability for your lifetime and legacy.
A Divinely Blessed Opportunity And Prophecy
To give the Marketive System to you for free is a vision from God, but as CEO Thomas Prendergast says, we need to make money to further our cause, hence the ILP and Entrepreneur Upgrade was born.
Instead of turning the site into a banner advertising clickbait freak show to earn revenue or reach out to venture capitalists, Markethive is reaching out to members to upgrade to Entrepreneur One, giving a divinely blessed opportunity to secure your financial future by way of Markethive’s revenue in the form of ILP shares, plus the advantage of multiple streams of income from Markethive’s ecosystem of products and services. This, in turn, blesses you as you have blessed Markethive with your subscriptions.
CEO of Markethive, Thomas Prendergast explained at our last weekly webinar,
“By blessing us with your contributions in the form of purchasing an ILP or upgrading to Entrepreneur One, you will get it back tenfold, a hundredfold, a thousandfold. That’s how the ILP and Entrepreneur One operates.
As we enter into this new phase of prophecy, I fully expect your blessings will increase tremendously. Right now we need more Entrepreneur One and ILP subscriptions to get to that magic number of 500. Once we reach that number, we will be moving forward a thousand times faster than we are right now.
At the moment we have competent growth with our Alexa ranking which are confirmed by our internal numbers, and we haven’t really even scratched the surface yet! We are destined to become a humongous force.”
Some would view this as incredulous, and I know many of you find it hard to accept that something like this could even be possible, in a world where many have been consistently ripped off by Ponzi schemes. It just takes one empath with a vision and a humanitarian heart followed by a like-minded community to bring a more sovereign environment and one of equality and opportunity into reality like Markethive. The technology that Markethive has, including the Blockchain, also made this model very real and doable.
Become an investor : Click this link to upgrade before May 1st. Upgrade here
The New Normal
Times are changing rapidly given the recent events and afflictions bestowed upon us on a global scale. Businesses in every field are sending key employees home to work in the seclusion of their homes at this time of crisis. Many are being stood down or losing their jobs. I’m of the opinion that the way corporations were built and facilitated is becoming a thing of the past along with the greed that consumes people. We are in a new era where the unjust will slowly but ultimately collapse. Divine intervention? I believe so.
People, families, and communities are isolating or cocooning for many reasons and we are heading for a more decentralized world off and online. We will order our groceries online to be delivered to our door by drones for example. This will fundamentally be accepted and enjoyed as the convenience and individual sovereignty will be paramount and the lifestyle we will come to know as normal.
This will attract many people to build businesses entirely online and this is what Markethive is all about. Markethive is that system that is all-encompassing to deliver all aspects a business needs to grow and flourish, with eCommerce, API connections to aligned companies, inbound marketing tools, social media, digital media distribution, etc.
At the moment, the fear of the unknown territory continues to plague individuals and communities, but one thing we know for sure is that working online from home with an escalating number of Entrepreneurs has been considered to be the way of the future. That future has arrived and is here and now with Markethive leading the way for everyone to achieve financial sovereignty.
Become an investor : Click this link to upgrade before May 1st. Upgrade here
Multiple Streams Of Income
Entrepreneurs know that diversity is key to long-standing financial security and Markethive is architecturally designed to give all associates the unprecedented opportunity to derive multiple streams of income, all under one roof, whether it be using the Markethive platform to promote and facilitate your personal business via storefronts or just taking advantage of the many individual enterprising and income-producing systems like the
Press Release and Sponsored Articles. Where you will be able to sell your allocated Press Release or sponsored article publication spaces, which is a lucrative income if you consider the statistics shown in this article
Video Advertising. A video ad portal will be similar to the banner portal. More on this in upcoming articles.
The ILP investments that will distribute 20% of the net profit of Markethive as interest. Explained in detail here. It’s like owning a piece of Markethive. It’s not about the bottom line for Markethive, it’s about you, the member, the rank and file. You are a virtual owner of Markethive, it’s your company where you receive very valuable tools and considerable returns from the ILP. This is on track to commence revenue payments this year and will grow as Markethive grow.
Banner Exchange (not to be confused with the traditional banner exchange), but more like a Banner Slot Reseller Shop, where you can sell your impressions to any member of Markethive requiring exposure on Markethive’s expansive reach across the internet. This will work similarly to a coin exchange and the launch of this prodigious system is just around the corner.
– and much more as they roll out
The Entrepreneur One Loyalty Program is a cottage industry turnkey system that includes many powerful income-producing mini businesses, like the Banner Exchange or Impression Reseller System.
Let’s Talk About The Banner Impression Reseller System.
The First Cab Off The Rank
The whole concept behind the Banner Exchange system which is essentially a banner impressions resale system giving the opportunity for Entrepreneur One upgrades to sell their Banner Slots and impressions for a price on the exchange. This is potentially very lucrative and a separate income from the ILP shared interest paid to you or any other portal in which you can profit from once integrated into the Markethive system. There will only be a maximum of 500 Entrepreneur One Associates that can take advantage of this.
Markethive’s Alexa ranking now at 5,322 and continually improving daily makes Markethive a force with over 400,000 unique visitors a day and heading towards 100 million page views per month and growing exponentially.
When we reach 2,500 in our Alexa rank which is very likely to be sooner than later, Markethive will have reached an estimated 287 million page views per month. The higher ranked websites and the position of the banner increase the cost of impressions. (ie: higher ranking being lower on Alexa. The highest rank is No. 1.)
Just as an example – Divide 287 million impressions by the maximum number of Entrepreneur One Associates of 500 = 574,000 impressions each per month. 574,000 x $0.001 = $574 per month that you’ll receive for only a $100 per month Entrepreneur One subscription.
This is a very conservative figure. The price of an impression will, of course, be much higher, along with the ever-increasing number of impressions assigned to you each month.
Where Are The Banners Displayed?
The Header banner is Prime real estate. It’s on the top position of every page in Markethive .com and .net as well as many other domains. Only 500 Entrepreneurs will have control of the most expensive piece of Real Estate and your timeshare is 1/500th of that in a system that delivers impressions on your banners per month literally into the millions.
In this video, Thomas explains how it is nothing like the traditional Banner Exchanges out there today, how it is unique and how important and lucrative banner advertising is.
Become an investor : Click this link to upgrade before May 1st. Upgrade here
A Self-Fulfilling Prophecy
Apart from Markethive’s vision and prophecy, by upgrading to the Entrepreneur One for $100 per month creates a self-fulfilling prophecy of prosperity and abundance. Once we hit 500 E1s, there’s no real need to sell anymore ILPs. We will have reached that tipping point where we can complete the necessary objectives to be able to go to the next level and drive into the 100 million members.
We get to just 1 million with a 20% conversion into the upcoming $20 entry-level Apprentice Program, (similar to Linkedin), we are now looking at millions of dollars per month into the Markethive system which is totally debt-free. This also ensures a more lucrative monthly return for you on your ILPs.
As we grow we will be able to expand into the mining hives, build a huge distributed database using Quantum computers situated in 1000 different places on every continent and country in the world, which work in conjunction with our wallets of which we will have billions of. Markethive with its blockchain is fulfilling what the blockchain was designated to do. A totally decentralized, distributed network that will be unstoppable and untouchable!
Markethive will continuously add more powerful marketing services to increase your business which creates an ever-increasing need for the Markethive coin MHV as this is the only currency Markethivers will use to purchase the products and services that compliments Markethive marketing tools that are given to you for free. This, in turn, creates velocity and drives up the price of MHV. A complete and alive ecosystem that is fungible and liquid.
Why is Markethive doing this?
It’s the vision, the mandate to spread the wealth with as many who are willing to be part of this. Even free members have the chance to earn money just by being here and using Markethive’s free tools. No more venture capitalists and fat cats raking in the profits while you, your data and hard work are sold for their profit.
You bless Markethive by upgrading to Entrepreneur One now and you will be blessed a thousandfold. This is your company, online business, and your home. While it lasts, you are welcome to purchase multiple Entrepreneur One subscriptions which of course multiplies your income accordingly.
There is no requirement for you to continually recruit people into Markethive, just upgrade to the Entrepreneur One Loyalty program, stay active and current with your payment and watch Markethive take off at warp speed securing your share of Markethive and the exponential growth of your income and legacy.
Note: To activate the Micropayment Faucet System you only need to refer 3 people. You are then free and clear to concentrate on your own business or passion which you can share on the Markethive platform that delivers incredible reach outside of the Markethive ecosystem thanks to its proprietary technology.
As Thomas Prendergast says,
“When you understand what we have done for you with the Entrepreneur One loyalty program you will grab as many you can afford. Folks, I have been involved in the MLM industry for over 20 years and frankly, I came to the realization MLM does not work for 95% of the people. I built Markethive to change all that and give all of you a system that works for the average entrepreneur. Time is running out and these memberships will be sought after down the road for huge prices. Markethive is in this for your benefit and the long run. What do you think?”
Secure your future with the new normal.
Markethive is not MLM, but a Market Network which is a combination of Facebook, LinkedIn, YouTube, Amazon, eBay, Marketo, Hubspot, Cointelegraph digital news site, Coin Exchange, Steemit among other linear platforms.
Become an investor : Click this link to upgrade before May 1st. Upgrade here
Become an investor : Click this link to upgrade before May 1st. Upgrade here
Deb Williams
A Crypto/Blockchain enthusiast and a strong advocate for technology, progress, and freedom of speech. I embrace "change" with a passion and my purpose in life is to help people understand, accept and move forward with enthusiasm to achieve their goals.
The Multi-Level Marketing Industry has been around for decades starting out with home parties or Party Plan and predominantly seen by women as a way to supplement the family income. MLM companies never advertised on mainstream media, so relied on word of mouth and solicited recruitment of anyone inexperienced or otherwise, and that was all well and good until the hype of fulfilling dreams of getting rich beyond your wildest dreams, firing your boss, becoming your own boss all because of the unsustainable and complicated compensation plans created by the company to entice anyone that would listen.
Over time the MLM industry has evolved online and this is when scams escalated and the promise of untold wealth for doing nothing really became a mindset. Some companies have products albeit a few making outrageous claims about the benefits, but many don't have a product or service or at the very least they portray a facade of digital products that could normally be accessed online for free. The latter has been dubbed a money game showcasing their gimmicky comp plans since the internet era. Fundamentally, if an MLM company pushes recruiting and is only interested in building a team to fill up a matrix in the compensation plan, not focusing on acquiring customers to buy their product, this is considered a pyramid scheme and very much a red flag.
There are programs that have failed, only to pop up later with a new name but similar model sucking in unsuspecting and usually desperate people looking to make an income online, or even worse believe the promise of getting rich quick. There are a number of individuals that keep launching new companies, all with matrix or binary comp plans then eventually closing them, then move on to the next, then another, and people losing money hand over fist with no recourse.
Common Sense. Do The Math
MLMs work by geometric expansion, where you get ten to sponsor ten, to sponsor ten, and so on. This is usually shown as an expanding matrix (looks very much like a "pyramid"!) with corresponding kick-backs at various levels.
The problem here is one of common sense. At a mere three levels deep this would be 1,000 people. At six levels deep, that would be 1 million people believing and expecting to make the amount of money promised to fulfill their dreams of becoming a millionaire. This, of course, must go on ad infinitum. This is proven to be unsustainable, there just wouldn’t be enough people in the world, let alone interested prospects, not to mention the attrition or churn rate of recruits.
I have spoken to individuals who know its limitations and flaws and they just say, “That’s ok, at least I can make some money while it lasts.” What about the poor people that come in after you?
The ethical question is, Are MLMs a morally acceptable way to make money?
There are a few MLM companies that have been around for years that are legitimate as they concentrate on selling the products, some have even done away with their suspect compensation plan to stay in good stead with the Federal Trades Commission. (FTC) Illegal pyramid schemes do have a product, but critics say that many MLMs have a business model that focuses on recruiting “downline” and getting new distributors to buy the product, rather than on actual sales to consumers, making them akin to pyramid schemes.
When you take a look at the FTC, and what they have to say about MLM companies, you need to offer retail products in order to stay in compliance with the law. This can be confusing for some however what it means is a company must have retail products that can be purchased by customers only without them having to become a distributor and buy into the opportunity offered through the comp plan to get those products.
Multi-Level Marketing Is The “Brand”
Robert L. FitzPatrick is an expert in examining and revealing deception and fraud in Ponzi schemes, pyramid schemes, and bogus home-based businesses opined,
“MLMs do not have brands in the same way that conventional companies do. Some MLMs have almost no "customers" at all other than their own “distributors” and most of them last less than a year. Arguably, MLM can’t be understood by business analysts because it more closely resembles a cultic religion than a business.
MLM’s “brand” is not based on products or on company culture, customer loyalty, or on new technology or social or political values. The brands of all MLM companies are one and the same, "multi-level marketing" itself, the contradictory business model, involving recruiting your own competitors and “being your own customer.” Each and all require “endless chain” recruiting and they always produce the same outcome: the majority of all “commissions” wind up in the hands of the top 1% of recruiters, kind of like a pyramid scheme always does.”
Polarization Runs Deep
While this is the most difficult point to make, it is perhaps the most important. Anyone who has any experience with an MLM has strong feelings, either for or against, and this is the problem. Polarization runs deep.
There are a host of issues brought forth regarding multi-level marketing companies, often from former distributors and the disgruntled community is growing. If you search YouTube, you can find countless videos outlining the numerous problems with various MLM companies.
How MLMs Defend Themselves
There have been many arguments raised by MLMers.
“How can it be a pyramid scheme if it’s legal?”
Through some crafty loopholes. The fact that there is an actual product to sell allows them to operate and give the appearance of legitimacy. If you need to fill your matrix up to be eligible for commissions, it’s a pyramid scheme.
“You just haven’t found a good MLM yet.”
Wrong. A good MLM is an oxymoron. Multi-level Marketing is the brand. No matter what products they have, if the distributors are forced to recruit, then most are doomed to failure. The biggest problem with MLM’s is that most distributors don’t make a profit. In fact, a majority end up losing money. According to the FTC, an astounding 99% of recruited sellers lose money. From the FTC report: “MLM as a business model is the epitome of an “unfair or deceptive acts or practice”.
“But how is this any different from any other major corporation where the CEO makes the most money?”
Because the people below the CEO at legit companies get paid salaries and have actual benefits. They don’t depend on endless chains of recruiting new members and asking for money upfront.
Comp Plans Detailed
Jeff Babener, Babener & Associates/MLMLegal.com published a guide explaining the major types of plans. The two outlined below became popular since the advent of computer technology.
The Matrix Plan
This plan looks like a grid in which a distributor is limited to a certain number of recruits at each level. For example, in a 3-by-5 matrix, each level down to five can have only three downline distributors.
This type of plan is sometimes considered to be more gimmicky than others. Why? Because due to the width limitations, new recruits may find themselves placed underneath upline distributors who did not directly recruit them. In a three-wide matrix, for instance, the fourth distributor you personally sponsor would be placed under one of the first three distributors you personally sponsored (your first-level distributors).
Matrix plans have been subjected to attacks by regulatory agencies because they sometimes look like "a game." By and large, they have not had a successful record in the industry, and they foster nonproducers, which makes the upline distributors resentful. Nevertheless, several major companies operate matrix plans.
Binary Plan
The binary plan is the newest on the scene. In a binary plan, a distributor is allowed to occupy one or more "business centers," each limited to two downline legs. Compensation is paid on group volume of the downline legs rather than a percentage of sales of multiple levels of distributors. In other words, payment is volume-driven rather than level driven. Sales volume must be balanced in the two legs to be eligible for commissions, which are paid at designated points when target levels of group sales are achieved.
The distributor may occupy multiple positions and may re-enter or loop below the other two leg matrices in which he or she has been active. There is no depth limit on payment but each matrix has a finite amount that can be paid out, thus necessitating involvement in multiple two-leg matrices.
The binary is the most controversial of plans. The binary had its unfortunate origins in the early 1990s in fraudulent gold coin programs, and its use later for other questionable products did not help. Those subsequent products were generally high-ticket one-time purchases such as consumer service or travel memberships, travel certificates, or overpriced prepaid phone cards. By the end of the 1990s, and after many legal challenges, the binary was not in great favor, and only companies like USANA, that had applied the concept to consumables, seemed to be around.
Critics charged that the implementation of binary plans brought on legal and business problems. Companies and distributors tended to promote the plan rather than the product, creating accusations of a "money game." Often plans had a one-time sale requirement which created a something-for-nothing atmosphere and appearance of payment for headhunting recruitment.
The multiple business center approach was often presented as a "purchase of a business center," an "investment," or a "front-load" of product. The ability to stack personal business centers also created the possibility of front-loading. The required balancing of sales volume between legs meant that hard work might yield no payoff and income would be forfeited because personal production did not count if balanced sales volume did not occur.
Finally, the multiple re-entry or looping created a "game-like" atmosphere in which an individual could end up in the downline of someone he or she had sponsored. For the distributor looking long term at a distributorship that might be sold, this "looping" also made it virtually impossible to place a value on a distributorship because no continuous downline genealogy could exist.
The Legitimacy Of Multi-Level Marketing
An issue in determining the legitimacy of a multilevel marketing company is whether it sells its products primarily to customers or to its distributors who must recruit new members to buy their products. In other words, does it emphasize getting products or services into the hands of consumers, or does it emphasize making money by finding new recruits? If it falls into the latter category, run away, fast. In the end, it’s the product, not the compensation plan that drives success.
Most people that are lured into these companies have little money to invest and want to believe the hype about utopian promises, get rich quick schemes, and how they can achieve great success. How they can fire their boss and be their own boss. Essentially, you are not your own boss. You have no control over the company, its products, people you recruit, or comp plan.
Multi-level marketing companies are not new. However, with the rise of social media, more people are becoming fed up with their tactics. In fact, there is an anti-MLM subreddit devoted to calling out MLM practices and product quality. If you are considering buying a product from or signing up with an MLM opportunity, do your research first.
Legitimate Company Investments Out Of Reach For Most? Not Any More.
The idea of investing in a legitimate company at a grassroots or shareholder level was out of the question. Only capital investors or entrepreneurs with millions of dollars were invited or could get involved. Hence the saying “the rich get richer and the poor get poorer”,until now.
Markethive has been created for the rank and file to achieve success on every level. Starting out with the ability to promote your business with all the inbound marketing tools including blogging platforms, email services, CMS, etc, which you would normally have to pay for is free to use at Markethive. Then there is the collaborative social media platform of like-minded individuals which of course is free. It’s free but you get paid to use it!
Huh? How?Blockchain Technology and Markethive’s crypto ecosystem has made this a reality for everyone to attain sovereignty and the freedom to create an income. It’s also the answer to an inequitable marketing industry.
But the icing on the cake is the ability to become a shareholder in Markethive via the Entrepreneur One Loyalty Program for $100 per month. This involves not only your cumulative share of an ILP (Incentivized Loan Program) but a number of cottage businesses that are like your franchises where the earning potential on these genuine products is huge.
Click this link to upgrade before May 1st. Upgrade here
The first one being launched at the end of this month is the Banner Impressions Exchange. (BIX) Markethive does all the work, drives the traffic and you sell your share of impressions for the price you set. You keep all the profits from the impressions you sell, for one small flat monthly fee of $100. Now that’s an offer never seen before and allows regular folks like you and me to realize financial success in a real company, not driven by greed or imperialistic status.
Click this link to upgrade before May 1st. Upgrade here
Real Business. Real Services. Making Dreams a Reality
This is not MLM, this is a real business and social market platform with next-generation technology and provides services that are proven and products with substantiated and provable facts. These are products that are being used all over the internet for the purpose of creating exposure to all businesses and content. This medium is increasing exponentially as more companies choose to advertise online. It’s unfortunate that MLM victims are so accustomed to getting ripped off they find it difficult to determine a genuine company.
The Visionary and Founder of Markethive, Thomas Prendergastexplains in this video the conditioned mindset of the many that keep them trapped in the merry go round of living week to week, paycheck to paycheck. He also elaborates on the BIX that will be open for all Entrepreneur One upgrades to trade,
What do the rich buy? A millionaire mindset vs the poverty mindset
Click this link to upgrade before May 1st. Upgrade here
Breaking News
The Entrepreneur One Loyalty Program for $100 per month is limited to 500 with the rollout of the first of many franchises (BIX) expected to launch on May 1st, 2020. After that date, if there are any E1s left they will be available for the purchase of $1,500 per month. Until then, we are calling on people to beta test the exchange.
The Entrepreneur Two, Three, Four, etc, have been taken off the table to focus on the Apprentice and Journeyman subscriptions. More on that soon.
If you’re still thinking about upgrading to E1 to take advantage of the money machines Markethive has in store for you as well as becoming a shareholder, you only have 8 days left at the time of writing this. Don’t be a “shoulda, woulda, coulda”, that can be a costly exercise. You really can be your own boss with the control required to succeed in Markethive making it your primary source of income.
Click this link to upgrade before May 1st. Upgrade here
Deb Williams
A Crypto/Blockchain enthusiast and a strong advocate for technology, progress, and freedom of speech. I embrace "change" with a passion and my purpose in life is to help people understand, accept, and move forward with enthusiasm to achieve their goals.
Markethive is the first Market Network and leading the way for marketers, business owners, all entrepreneurs, offering all the tools needed to facilitate any business along with a spirited community advocating collaboration in a blockchain-driven environment assuring privacy, autonomy, and sovereignty and all for free. This is a complete ecosystem where being able to generate an income is a reality. The Markethive system pays you to learn, it pays you to use it and it pays you to promote it.
How is this possible? That’s easy. Markethive, with its own proprietary technology, built on the Blockchain with its own coin (MHV) is creating its own ecosystem. This allows Markethive to pay you in MHV for every activity you perform in the system.
It also runs on multiple engines. What does that mean?
Markethive started out and is fundamentally an inbound marketing platform given to you for free, much like Marketo which charges up to $25,000 per month to use its services. Geared for huge enterprise-scale companies, Marketo sold for $4.75 billion to Adobe and faring well for the B2B market.
But Markethive is much more than that. It’s geared for everyone, whether you’re just starting out in the online world or a business owner, writer, blogger, creative artist, an entrepreneur on any level. It not only plugs into all other social media platforms, but Markethive is also its own social media platform and digital news site. This lends itself to massive exposure and traffic required to succeed in any business online.
What Are The Money Machines?
The first money machine to be delivered is the Banner X, which is the banner system that the Entrepreneur One upgrades (limited to 500) get their share of impressions to sell on an exchange. The last foundation block for Banner X was implemented this last week by our engineers, so this means the launch of Banner X is just around the corner. Once it is rolled out and if there are any E1 subscriptions left, they will increase to $200 per month. Remember, all money machines are included in the Entrepreneur One Program, so lock it in now for $100 per month here, https://markethive.com/upgrademe
The next money machine to be implemented will be the Press Release Program and they will continue to be rolled out faster as our engines increase in power and speed, which will include a Boost Exchange, Video Advertising Platform, many different forms of advertising programs which are essentially money machines. So Markethive won’t be selling these programs, you as an Entrepreneur One will sell and profit from these various systems. Notably, Entrepreneur Two will receive all the money machines excluding Banner X.
