Cryptocurrency MLM – A Glistening Opportunity or Smoke and Mirrors?

The MLM world is one judged by many. It’s also often associated only with few brands and commercial structures. Few appreciate just how diverse and exciting a field of business is, and even fewer are aware of the ways in which cryptocurrency and MLM interlink.

Like many of you reading this, I appreciate the challenge of overcoming myths, misunderstandings and misconceptions when it comes to MLM, and more specifically crypto MLM. Here I’m going to dive into the ins, the outs and the details when it comes to this corner of MLM – doing away with presumptions, and clarifying conjectures.

From A to Z -Starting from the beginning

What is Cryptocurrency?

A cryptocurrency is a digital currency that operates over a peer-to-peer network (which means a system completely free from a reliance upon banks, instead using thousands of computers of the users of the currency).

In the simplest sense a cryptocurrency operates like a database of limited entries that can’t be changed unless specific conditions are met (which is actually exactly how any other financial system works).

Cryptocurrencies are incredibly secure, totally decentralised from governmental control and wipe out the prospect of double spending, with each crypto transaction being tracked to ensure ledgers are correct (and for a full overview of exactly how cryptocurrencies work, check out this blog from Blockgeeks).

The rise and rise of cryptocurrencies

Bitcoin made millionaires overnight (launching at less than $0.25 in value, and today having a current value of $1976.04), since which time various newcomers, such as Ethereum, swiftly followed up – with a value beginning at $10 and that now stands at $287.84.

Today the so-called Alt-coin market (the landscape of more affordable coin currencies, such as Litecoin, Namecoin, Primecoin and Feathercoin) include a growing number of MLM offerings, and like the wider cryptocurrency market, MLM programmes in this realm are undergoing staggering growth.

Alt-coins, alongside the likes of Bitcoin, have created a market worth $100 billion (and growing). So, it seems that MLM could find an exciting home here, given the right currency and the right scheme, right? Well, all is not so straightforward.

MLM and crypto – Some say there’s cause for concern…

Are they right?

Despite the staggering growth of MLM cryptocurrencies, there remains many naysayers – some with justified concerns and others due to the overall negativity fielded at MLM businesses in general.

A core concern is that the cryptocurrency market remains completely unregulated – one of the few financial industries in the world to be so. However just as this is a perceived weakness or risk, so too is it a strength – as it allows the 2 billion unbanked global consumers to become involved in internet transactions. This is truly revolutionary for third world countries, and it’s no overstatement to say that its driving growth in some of the world’s poorest countries.

On the other hand, there are cryptocurrencies out there that buck this trend – disallowing anonymous users and transactions in favour for ‘KYC’ – Know Your Customer. This also boasts strengths – allowing users to know exactly who they’re dealing with, whilst eradicating the chance that criminals will use the currency for dubious purposes.

The number one tip I can provide to any savvy MLM marketer when considering dabbling with cryptocurrency is to become educated. Without question this industry demands a grasp on the technical terms and concepts, as well as plenty of up-to-date knowledge.

MLM crypto opportunities – Who’s out there?

OneCoin, Bitclub Network, Project Ethereum, Xenixcoin, Sunshine Capital Inc and Dibcoin are just a few of the names out there in the sphere of 2017’s growing number of MLM schemes.

The key to success in this industry?

Fully understanding the promise and prospects of cryptocurrency

Let’s be clear - to be successful as an MLM marketer in the cryptocurrency industry you need to fully and comprehensively understand what it is, how it works and what the future holds for those who invest in it. Of course, any MLM marketer’s business will also benefit from the same personal qualities that secure success with any MLM scheme, namely including:

Self-drive, determination and a commitment to the task at hand

Charisma and being a genuine people person

Proficiency in using the internet and in sharing an exciting idea in innovative, attention grabbing ways

The ability to lead – to ultimately grow a team and secure the end goal of a laptop lifestyle

On the flipside, few commentators speak of the benefits when MLM meets cryptocurrency –namely that having a network of individuals by your side allows you to learn, develop and grow your knowledge base (because let’s face it, cryptocurrency is far from the simple to grasp concept that cosmetics, health supplements or utilities are).

My top three tips for exploring cryptocurrency MLM

Start at the very beginning

I can’t stress enough – creating a profitable network within this MLM world demands a solid grasp of cryptocurrency, market behaviours, knowledge of hot currencies and an understanding of what defines the profitable from the currencies that fail (and fail they do). Cryptocurrency Invest is one of the few online knowledge centres designed for the cryptocurrency beginner (as most websites out there are written with the seasoned crypto investor in mind).

Tap into a large, reputable network

As a member of MLM Gateway, you’ll know that there exists massive differences in the qualities out there for MLM programmes – some are great and offer an exceptional opportunity, others are nothing more than a shady Ponzi scheme. The same applies for the world of MLM. So consider the reputation the company has for support, the type of people you’ve come across and whether the currency nurtures its teams and marketers with events, one-to-one help, knowledge bases and tools.

Weigh up the promise of cryptocurrency MLMs

Cryptocurrency MLM promises much when compared to the wider MLM programmes out there – choose wisely and you could partner with a currency that becomes a rapidly growing name with the traction in value to boot. If you’re considering MLM in any form, it’s more than worth both exploring and taking seriously.