Frequently Asked Questions

  

What is lootbitcoin?

A. lootbitcoin is a donation exchange platform where members voluntarily give donations and receive donations. is a Person to Person, Direct Funding and Donation Sharing Platform. It brings forth a new way of raising funds for various causes, whether it is for personal needs or a host of worthy causes, such as schools, non-profit organizations, clubs, etc.

How does lootbitcoin work?
A. When you join lootbitcoin you join a community of like-minded members who are interested in donating to each other. You get the opportunity to willingly donate monthly to the members who invited you to become a member and you in turn can get willing donations from people you invite to become members.

How do I join lootbitcoin?
A. Ask the person who invited you to provide you with their own unique invite link. Use that link to sign up.

Is lootbitcoin available worldwide?
A. Yes, lootbitcoin is available to anyone with an internet connection, a Bitcoin wallet and the willingness to donate and to get donations.

What donation/pay processors are used?
A. We only use Bitcoin to make it easy for members to donate to each other. 

Can I have more than one account?
A. Yes you can but it is strongly recommended that you do not stack them. For example, you create another personal account under your first account. This is considered stacking. This is an unethical practice.

Are there any refunds?
A. No, there are no refunds, donations are given freely and willingly. lootbitcoin has no control over the donations transfered between members.

I don't have a bitcoin wallet where do I go to open a bitcoin wallet.
A. The only places we highly recommend you go get a Bitcoin wallet is at https://blockchain.info/wallet/# or https://www.coinbase.com

What does the "due date" mean in the back office?
A. It is the date your next payment for that level is due. lootbitcoin is having Lifetime Validity. However as there is no option for Lifetime in the current script Its fixed as 90 Years. Members can ignore that 

Do we only upgrade to the next level after receiving donations?
A. You should upgrade to the next level the moment you are able to so that you don't miss out on donations coming to you for those levels.

Are you allowed to upgrade even though your level is not filled up eg to be on level 3 you must have 8 downline, does that mean you have to get exactly 8 before upgrading to level 4?
A. You can upgrade at any time, the sooner you are able to the sooner you know you will not miss out on any donations.

Is it possible for downlines to upgrade to your upline instead of you if you're not on that level yet?
A. Everyone can have their own unique experience in the system. It is best to upgrade the moment you are able to. If you don't you will miss donations for the levels you have not upgraded to if there are members below you on those levels who upgrade fast.

When will two people be assigned to me? I was under the impression that as each person (which has grown since I joined) joins they are assigned under each person and so forth under my level?
A. YOU will need to find your own two people to join you and you can then help them find their 2 people to grow your team.

Isn't this like a pyramid scheme?
A. Well a pyramid scheme means that only the top members of the hierarchy get paid whereas lootbitcoin allows every member to earn the same amount by doing the same amount of work. You can receive more donations than the person who signed you up.

Why does my referral link show up with Administrator when clicked on and not show my name?
A. There are a few factors that will influence which signup page you will see. 1) You will need to be signed out. 2) You will need to use the link of the person you want to sign up with. If you see the Admin link then you've not followed the previous 2 rules or you might need to clear your cookies.

How often we have have to donate .0002?
A. No need tio Invest Further. Its Lifetime one Payment. Only Upgrades need to be performed as per donations received.

When using the hash id to submit proof of donation the system says Hash ID already used.?
A. You can either leave the upgrade page and check back in if you are upgraded or ensure that you only use a wallet vendor that do their transactions through the blockchain.

How to participate?
A. There are 2 ways to get involved:
This first one is highly recommended. If you have been invited to join, click on that person’s referral link and you will be instructed to fill out a simplified registration form.
In the event that you were not invited by family /friends then you can join by going to https://www.lootbitcoin.com/ and click on the Sign-Up button. You will then be referred directly by the Administrator and the system will automatically spill you down into the first eligible or qualified member's genealogy.

Can I donate bitcoin outside U.S or WORLDWIDE to anyone or anywhere?
A. Bitcoin is a global payment network, and accepting it enables lootbitcoin to accept donations from anywhere in the world. Anyone with an Internet connection and a bitcoin digital wallet can donate bitcoin to lootbitcoin

Will lootbitcoin make a profit from users donation?
A. No. As a non-profit organization, lootbitcoin does not make a profit from its activity