Is Bitcoin an MLM? Check Out the Facts and a Complete Explanation!

Bittime - Bitcoin has once again become a hot topic in the world of digital investment. Amid its popularity, many misconceptions have emerged—one of which is that Bitcoin is a multi-level marketing (MLM) scheme.

In fact, Bitcoin doesn't have a multi-level sales network structure like MLM. This article will thoroughly discuss whether Bitcoin is truly an MLM, its legality in Indonesia, and common misconceptions that still circulate in society.

READ ALSO: What are Real World Assets (RWA)? Check out RWA Tokens on Bittime

Bitcoin is not MLM

Bitcoinnot a network business or system that relies on recruiting new members to make a profit.

• Bitcoin is a decentralized digital asset, meaning that no single party controls or has a hierarchical system like MLM.

• Bitcoin purchases are made on official exchange platforms, not through sponsorships or recruitment bonuses.

• Profits are earned from market price movements, not from inviting others to join.

BAPPEBTI even emphasized that MLM schemes are not permitted incrypto asset trading, to maintain transparency and protect investors from fraudulent practices.

Legality of Bitcoin in Indonesia

Previously deemed illegal in 2018, Bitcoin has now been officially recognized as a digital commodity by the Commodity Futures Trading Regulatory Agency (BAPPEBTI).

• BAPPEBTI Regulation Number 5 of 2019 stipulates crypto assets, including Bitcoin, as tradable commodities.

• This means that Bitcoin cannot be used as a means of payment, but it is legal to own and trade.

• Platforms like Bittime and several other exchanges have obtained official permission from BAPPEBTI.

So, if you want to own Bitcoin, make sure you do it through a legally registered and regulated platform.

READ ALSO: How to Register for Bitcoin via Mobile: Easy and Fast!

Common Misconceptions About Bitcoin

There are still many stigmas surrounding Bitcoin. Here are some of them:

• “Bitcoin is MLM.”
  In fact, Bitcoin is a digital asset with an open market mechanism, not a recruitment system.

• “Bitcoin can only be mined.”
  Now, you can buy small denominations of Bitcoin starting from Rp10,000 on official exchanges, such as Bittime.

• "Bitcoin is only for rich people."
  Anyone can invest in Bitcoin, even with small capital.

• “Bitcoin is not legal.”
  Big mistake — Bitcoin is legal as a commodity in Indonesia, just not as a means of payment.

How to Get Bitcoin Safely

You don't need to join any networks or recruitment programs to earn Bitcoin. Here's the correct and safe way:

• Buy on official exchangebasket Bittime.

• Use a personal digital walletto store assets.

• Pay attention to account securitywith two-step verification (2FA).

• Learn price trends and trading strategies before buying.

With the right steps, you can legally own Bitcoin without the risk of fraud.

READ ALSO: What is BSquared Network (B2)? A Bitcoin-Based Layer-2

Conclusion

Bitcoin is not an MLM, but rather a digital asset that derives value based on global market supply and demand. Its legality is recognized in Indonesia as a trading commodity. Therefore, if anyone still claims Bitcoin is an MLM, it's a misconception. Before investing, ensure you understand the risks and choose a reputable platform.

How to Buy Crypto on Bittime

Want to trade sell buy BitcoinsLooking for easy crypto investing? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is secure and fast.

Start by registering and verifying your identity, then make a minimum deposit of IDR 10,000. After that, you can immediately purchase your favorite digital assets!

Check the course BTC to IDR, ETH to IDR, SOL to IDRand other crypto assets to find out today's crypto market trends in real-time on Bittime.

Additionally, visitBittime Blogto get various interesting updates and educational information about the world of crypto. Find trusted articles on Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

FAQ

Is Bitcoin an MLM?

No. Bitcoin does not have a tiered recruitment system like MLM.

Is Bitcoin legal in Indonesia?

Yes, it is legal as a commodity supervised by BAPPEBTI.

How to buy Bitcoin safely?

Use an official exchange that has permission from BAPPEBTI.

Can Bitcoin be used to pay for goods?

No, it can't. Bitcoin is only legal as an investment commodity, not a means of payment.

Does it take a lot of capital to own Bitcoin?

No. You can start investing in Bitcoin starting from just IDR 10,000.