MineTech Farm Review: Three-tier “cryptocurrency mining” Ponzi
MineTech Farm provide no information about who owns or runs the company on their website.
The MineTech Farm website domain (“minetech.io”) was privately registered on February 13th, 2018.
MineTech Farm provide an incorporation document for “MineTech Farm LTD” on their website.
MineTech Farm LTD was incorporated in the UK on February 15th, 2018. Gregory Stones is listed as the sole Director of the company.
The only connection between Gregory Stones and MineTech Farm is the incorporation document, casting doubt on whether Stones actually exists or not.
UK incorporation is dirt cheap and for the most part unregulated. It is a favorite for scammers looking to incorporate dodgy companies.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
MineTech Farm Products
MineTech Farm has no retailable products or services, with affiliates only able to market MineTech Farm affiliate membership itself.
The MineTech Farm Compensation Plan
MineTech Farm affiliates invest funds on the promise of a 30 day ROI:
- invest $10 to $2000 and receive a 4.7% daily ROI for 30 days (141%)
- invest $2001 to $5000 and receive a 5% daily ROI for 30 days (150%)
- invest $5001 to $20,000 and receive a 5.3% daily ROI for 30 days (159%)
MineTech Farm pay referral commissions on invested funds down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 7%
- level 2 – 2%
- level 3 – 1%
Joining MineTech Farm
MineTech Farm affiliate membership is free, however free affiliates can only earn referral commissions.
Full participation in the MineTech Farm MLM opportunity requires a minimum $10 investment.
MineTech Farm claim to generate ROI revenue through cryptocurrency mining.
Our company has created a unique system that provides an opportunity for investors to collect high dividends at the expense of crypto currency mining.
The company however provides no evidence of cryptocurrency mining taking place or any other source of external ROI revenue.
The only verifiable source of revenue entering MineTech Farm is newly invested funds.
Using newly invested funds to pay existing affiliates a daily ROI makes MineTech Farm a Ponzi scheme.
As with all Ponzi schemes, once affiliate recruitment dries up so too will newly invested funds.
This will starve MineTech Farm of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of investors lose money.