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(Note: I do not recommend Bank of TRON but for readers who want to research the platform for themselves, I’ve included a getting started section to teach you how to join the program.)
The last several months have given rise to new versions of Ponzi and pyramid schemes based on the blockchain technology. In the last months I’ve reviewed Million money, Xoxo, Billion money, Forsage, etc.
Bank-of-Tron is just one of the newer versions of this scheme and appears to be the first based on the Tron blockchain. At this point maybe we should just stop calling these garbage schemes based on the blockchain technology scams. The reason is most participants go in willingly and with the full knowledge of what they’re participating in. Talk about being complicit in your own deceit.
Let’s begin this bank-of-tron.com scam review.
Bank-of-Tron is not the same as Tron cryptocurrency
A great place to start is to help people out there understand a few differences because oft-times these platforms pretend to be what they are not. These platforms will wax lyrical about blockchain tech and cryptocurrency so much that users might start to think the whole point of blockchain and Crypto is to enable get-rich-quick schemes.
Let it be clear. Bank-of-Tron is not the same as Tron cryptocurrency the same way all the other blockchain-based investment programs like forsage, million money uses Ethereum smart contract but isn’t connected to what Ethereum cryptocurrencies stand for. These unsustainable businesses are just weaponizing a great technology for their phony, scammy schemes. Beware.
What is Bank-of-Tron?
Bank-of-Tron is a blockchain-based Ponzi scheme. It means no business is going on here and the only source of revenue is new referrals. Once that stops, payment stops. Smart contract technology is used to ensure funds are distributed automatically within the system. No one knows the founder of this scheme. I don’t trust any platform that hides the identity of its founder. Only bitcoin (Who is Satoshi?) gets a pass.
What is Tron Cryptocurrency?
TRON is a blockchain-based decentralized operating system based on the TRX (TRON) which is the cryptocurrency that powers the system. As at press time 1 TRON =$ 0.029230. TRON is an awesome cryptocurrency by Founder, Justin Sun, and was never intended to be used to power a get-rich-quick scheme like bank-of-Tron scam.
See my list of recommended platforms here
Getting started section
How to join the bank-of-Tron program
Step 1: First, you might need to use a website like faucetpay.io to swap your BTC (bitcoins) for TRX (Tron). It’ an easy process. Make sure you swap an amount equivalent to your select plan on bank-of-tron.com (see below) + transaction fee of at least 2.5 TRX
Step 2: Next, download the TRON wallet
Here’s how to do that:
Go on Google playstore and search for Tron wallet. Then install it.
Click create wallet and enter new pin, write down your secret words and confirm it
Click on receive and Get your TRX unique address.
Send TRX from faucetpay.io to the TRX address (TRON wallet).
Finally, on the TRON wallet browser, search for bank-of-tron.com. Then select one of the plans and get started. That’s all. Screenshot below
Alternatively, if you use Google Chrome browser, you don’t need the wallet. Just download the Tronlink extension.
Here are the different plans of the bank-of-Tron platform
1. Diamond plan
Features: investment of 10 TRX; 3.7% daily interest forever;
2. Platinum plan
Features: investment of 10 TRX; 4.7% daily for 45 days to earn a total of 211.5%
3. Gold plan
Features: investment of 10 TRX; 5.7% daily for 25 days to earn a total of 142.5%
4. Bronze plan
Features: investment of 10 TRX; 6.7% daily for 18 days to earn a total return of 120.6%
Other details about bank-of-Tron
– Affiliate program: Bank-of-tron.com affiliate program gives you the opportunity to earn from your referrals directly and indirectly. 5% for direct referrals. 2% and 0.5% respectively for indirect referrals. I personally don’t recommend you inviting anyone to join an unsustainable Ponzi-scheme like this.
– Domain registration: The bank-of-tron.com domain name was registered in 2019-04-05 and will expire in 2021-04-05
– Traffic analysis: The website currently has about 56+ daily visits. It appears low but this is only because thousands of people access the platform through the Tronwallet and not with a browser.
– Growth: Over 525 million TRX has been invested in this platform.
– The telegram group: The telegram group has over 25,000 members
Reasons not to invest in bank-of-Tron
Note: Bank-of-Tron pays right now but I will never recommend a Ponzi scheme since it’s unsustainable. It’s a race to the bottom where the late joiners are filled with regrets at the end of the day.
1. It’s a Ponzi scheme: It’s a no-brainer that Ponzi schemes are unsustainable businesses that will either crash or stay dormant when the rate at which users join the platform drastically reduces and eventually grinds to a halt. Ponzi schemes are profitable for early joiners and the founders get to rake in most of the funds.
2. I support the blockchain movement: Blockchain and cryptocurrency technology are great inventions that are constantly evolving. (For example Defi (Decentralized Finance is hot in the Crypto market right now). See here to know all about it. Anyone who supports the growth of this space should oppose platforms like bank-of-Tron who are misrepresenting what blockchain and cryptocurrency truly stand for. It was never intended for use in get-rich-quick schemes
3. No founder: Let no one pull a wool over your eyes. A program without a founder typically lacks credibility. Bank-of-Tron makes use of smart contracts to automatically distribute funds. But smart contracts are nothing more than lines of codes programmed to execute a certain way. Smart contracts based on Ethereum are the most popular in the market and we know Ethereum’s founder, Vitalik Buterin. We know Tron’s founder, Justin Sun. Why will a platform like bank-of-Tron that builds its program on this tech not reveal its founder? Why should you trust a smart contract of a platform that has not revealed its founder? How do you know it was audited correctly and not designed to cheat the users?
Final thoughts
For the umpteenth time, I do not recommend this platform. It’s a total waste of your time if you’re in fact desirous of serious investment programs. But, if you want to try it out, use the guide in the getting started section, I can’t stop you.
Got thoughts? Let us know in the comment section below.
See my list of recommended platforms here
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