MineLend promises to give investors 2% daily returns by investing in cryptocurrency mining. Is it a scam or a legitimate investment opportunity? Let’s take a closer look.
How Does MineLend Work?
MineLend, found online at MineLend.com, claims to pay investors up to 2% daily returns in exchange for investing in cryptocurrency mining.
Typically, mining cryptocurrency will not pay you returns anywhere close to 2% per day. So what kind of magical formula does MineLend use to beat the market average? Is this yet another MLM scheme masquerading as a legitimate bitcoin mining operation?
Yes, MineLend appears to be some type of Ponzi scheme or pyramid scheme. The platform provides no proof of its mining operations. Investors aren’t buying any real mining equipment – they’re just buying investment packages. The biggest red flag, of course, is that MineLend is advertising returns of 2% per day.
With that in mind, let’s take a closer look at how MineLend works.
MineLend doesn’t provide any evidence to suggest it’s a legitimate cryptocurrency mining operation. Instead, the company appears to suggest it’s a Ponzi scheme or HYIP scheme: you’re encouraged to deposit money into the scheme today, then convince other people to deposit money into the scheme. The returns of older investors are paid by the deposits of newer investors until the scheme eventually collapses when it cannot recruit anymore people.
MineLend specifically advertises six different “investment packages”, including:
- Starter ($50 to $500): 1% ROI per day, money locked for 1 year
- Intermediate ($501 to $1,000): 1.2% ROI per day, money locked for 1 year
- Pro ($1,001 to $5,000): 1.4% ROI per day, money locked for 1 year
- Elite ($5,001 to $20,000): 1.6% ROI per day, money locked for 1 year
- VIP ($20,001 to $50,000): 1.8% ROI per day, money locked for 1 year
- Custom ($50,001 and Above): 2% ROI per day, money locked for 1 year
Please note that MineLend doesn’t say “up to” before any of its advertised returns. They’re not advertising returns “up to 2%” per day, for example. Instead, they’re specifically promising investors that anyone who invests more than $50,000 is guaranteed to receive returns of 2% per day.
Obviously, returns of 2% per day are virtually impossible to guarantee in any legal investing product. They’re hard to guarantee even in illegal investments. MineLend provides no proof that its mining operation earns returns anywhere close to this amount, which is why all signs point to this being a Ponzi scheme.
Like all good pyramid schemes, MineLend will reward users who refer people to the platform: you’ll receive 10% referral commissions when referring new members. That means only 90% of each member’s deposit is going towards “mining equipment”, which again suggests that MineLend has no real mining operation in place.
MineLend advertises all of the following features:
- Daily customer support
- Stable profits
- Instant payouts
- Funds kept in encrypted cold storage wallets
- Website is DDoS protected
Who’s Behind MineLend?
MineLend provides no reason to believe it’s a legitimate company. One of the most obvious signs this is a scam, however, is that the company refuses to disclose contact information, location information, or management team information. We don’t know the names or backgrounds of anyone involved with MineLend.
The company claims to be registered in the UK. However, we can’t find any information regarding UK business registration.
MineLend In Conclusion
When someone promises to pay you 2% guaranteed returns per day through cryptocurrency mining, then you’re probably being scammed. MineLend specifically advertises returns of 1% to 2% per day, guaranteed, to all investors. All you need to do is give the company money, and they’ll magically deliver better returns than any other cryptocurrency mining company in existence.
In reality, there’s no evidence that MineLend provides returns anywhere close to 2% per day. In fact, there’s no evidence that the company has any type of cryptocurrency mining system in place. Instead, all signs point towards MineLend being a pyramid scheme or a Ponzi scheme.
You can decide for yourself if MineLend is a scam by visiting online today at MineLend.