You are searching for ways how to make your financial situation better and wondering what is the best and fastest way?
I get it, there are a lot of ways how to make money, unfortunately, there are also misleading products, scams, and Ponzi schemes out there.
How about investing in cryptocurrency with Mining City.
What is this system all about?
Is Mining City a Scam?
This article is going to explain what the Mining City is, how to works, and whether this is a good opportunity for you, or not.
Please note, I am not a member or an affiliate for Mining City. This review is based on research and information available online in the public domain.
Any recommendation and conclusions are only opinions and may not apply to all persons or situations.
Table of Contents
- 1 Quick Overview
- 2 Mining City Overview
- 3 What is Mining City
- 4 Who is this for?
- 5 How to Join the Mining City Group?
- 6 Mining City Compensation Plan
- 7 How Much It Costs?
- 8 Is Mining City a Scam?
- 9 What Others Think
- 10 What I like about Mining City
- 11 What I don’t like
- 12 Some Thoughts at the End
Name: Mining City
Price to Join: $300 to $12,600
Recommended: I don’t recommend it (possibly pyramid scheme)
What is Mining City
Mining City is a system that supposedly brings people who are interested in obtaining (or mining) the Bitcoin, together. Apparently, they provide recent technology and maintenance for their customers.
In other words, this company provides services for clients regarding bitcoin mining.
Let’s explain what is the Mining City about in a simple language.
This is a crypto MLM company where the money is being made by recruiting new members.
Their structure looks like this:
There is no product to sell and whenever you see a company with such a structure without having a product to sell, it is an outright pyramid scheme.
Here is a video that explains what the pyramid scheme is. :
What else do we know about the Mining City?
- This company is based in Cyprus – Europe and the foundation date is most likely December 20th, 2018.
It is important to mention that Cyprus is a fraud-friendly country. Meaning that a lot of companies do have their headquarters there, but the reality is that the “headquarter” is just a PO BOX.
- Another thing is that Mining City is committing securities fraud.
- Mining City is not registered with financial regulators in any country they operate in.
Founder of Mining City Group
The founder and current CEO is one person. His name is Gregory Rogowski.
He uses also aliases and can be recognized as Grzegorz Rogowski or Greg Strong.
This Gregory guy comes from Poland and it is believed the real headquarter of the Mining City is in Warsaw, Poland.
We don’t know where the real company is based though. There is no real address.
Who is this for?
By now you are most likely aware of the fact the Mining City is most likely a pyramid scheme.
Therefore I don’t recommend joining this company.
I am pretty sure you know how the pyramid schemes work.
The only ones who really make money are at the top. As soon as there will be no new members, the system collapse and the founders will disappear.
The rest will lose all the money.
How to Join the Mining City Group?
In order to register, one must provide the user name of a sponsor. The sponsor will receive a commission based on the plan the prospect chooses. We will get to the price structure in a bit.
Once you choose your plan you are asked to transfer your funds to Mining City BTC Walle within 30 minutes.
There is 72 hours refund policy, however, if registered in Citizen Tree the refund is not possible.
Mining City Compensation Plan
Every MLM company has a complicated compensation plan. I am pretty sure the majority of people joining the MLM does not understand it entirely. That is actually on purpose.
It is the same case with Mining City. You can read the whole document here, but I am sure, even if you open it, and read it through, it won’t be clear right away.
And that is not your mistake.
Let me break it down for you:
As you know there are different levels or ranks within the structure. The higher rank you are in, the more money you make, that makes sense right?
What are the rankings?
- Resident – In order to qualify you only need to pay $300
- Citizen – The price is $600
- City Builder – You need to “invest” $600 and on top of it you need to refer at least 5 Citizens
- City Developer – Price $600 and you need to have 3 City Builders from the different leg in your Team Tree
- City Manager – The investment is $2,400 and you need at least 3 City Developers, again each from a different leg.
- City Chief Manager – The cost is $4,200 and you need 3 City Managers
- City Mayor – You need to send the funds in the total amount of $12,600. In order to be at this level, you have to have 3 City Chief Managers.
- Governor – The “investment” is $13,800 and on top of that, you need at least 3 City Mayors, each from a different leg.
Can you imagine to find 5 persons who would pay $600 each?
Well if you do – more power to you, but it is pretty darn difficult.
In theory Mining City offers residual commissions. These are the money that comes from your downline.
The maximum daily earnings depend on the rank but it goes as follows:
- Resident’s max daily earnings are $200
- Citizen – $800
- City Builder – $1,000
- City Developer – $1,200
- City Manager – $1,600
- City Chief manager – $2,000
- City Mayor – $2,400
- Governor’s maximum daily earnings are $2,800
In the Compensation plan, there is alos a Binary Matching Bonus and a Plan Bonus, but we won’t go into that for a sake of time.
How Much It Costs?
This entire system relies on people hoping for big returns.
One can “invest” $300 or $12,600.
There are several levels in between and we have already coved that.
Above is just a screenshot of the member’s site right before deciding on what plan to buy.
Is Mining City a Scam?
Yes, it is.
Mining City is still a new company, founded less than 2 years ago (as of this writing). New members keep coming in hoping that they will reap the rewards of their investment.
At this point members who are already in higher levels of this pyramid scheme do make money.
Or to be precise they only get money from new members.
Once the majority of people find out that this is a fraud, there will be no new members. That means no source of income and this whole thing will collapse as a result of that.
What I find extremely unethical is the way how new members are recruited.
Of course, it depends on the sponsors, and probably not all of them force the newbies to “expand their team”.
But generally speaking, a prospect is told to recruit the closest one, meaning family members and friends.
These are obviously the closest “targets”.
But would you risk it?
People don’t want to get involved in regular MLM companies, let alone cryptocurrency MLM/pyramid scheme.
In my opinion, whenever there is a combination of MLM and cryptocurrency, it is almost always a pyramid scheme.
I mean, I am not a big fan of traditional MLM either and the reason is that most people just won’t make decent money.
I have done a little study where I compare both business models. MLM and Affiliate Marketing.
What Others Think
If we take a look at the reviews people leave on the website called Trustpilot, we see that the reviews are not balanced at all.
Out of 32 reviewers, there is not s single one rating the Mining City Average or Poor.
To me, there is only one explanation;
- Former members who did find out what the Mining City is all about and call it an outright scam.
- On the other hand are those who glorify the Mining City. Probably people who are still in the game…
Besides here is an official warning about the Mining City saying that Philipines regulator warns investors to stay away Mining City:
I think the message is clear enough and there is no doubt that Mining City is going to crash soon.
What I like about Mining City
- There is nothing I like about the Mining City
What I don’t like
- A typical signs of a Pyramid scheme (pyramid structure without a real product)
- Mining City is not a registered company. That means this company is not allowed to sell securities. It is obvious from how they operate. Based in Cyprus, with Polish founder and CEO and targeting Asia, South Africa, and Argentina.
- Philippines regulator warns investors to stay away from Mining City, as it is highly likely that it is a Ponzi Scheme
Some Thoughts at the End
Mining City resembles a typical Ponzi Scheme.
However, for time being there is no proof that this is a Ponzi scheme.
On the other hand, based on what we have covered it is safe to claim that Mining City is a scam.
Money that is within the company is money that the new members bring in.
There is also no product and the only way how to make money is by recruiting others.
Stay away from this pyramid scheme at all costs.
It is much better to save the money or maybe to invest in a sort of education.
The Mining City is going to be around for a bit more, maybe 2 weeks maybe 2 months.
Who knows, maybe for another year.
Let’s see what happens with the Mining City then.
Do you have already experience with a similar crypto MLM company?
What do you think about the Mining City?
Let me know please in the comment section below. I would love to hear from you.
Thank you for reading