Hello and welcome to my page.
In this Purple Mining Review, I am going to walk you through this company, so by the end of this post, you will know for sure whether it is worth investing or not.
I am glad you do your research on Purple Mining. There are many people that fall for scams and for claims that sound too good to be true.
How about Purple Mining?
Is this a scam or legit?
Let’s get right into it.
Please note, I am not a member or an affiliate of Purple Mining. This review is based on research and information available online in the public domain.
Any recommendations and conclusions are only opinions and may not apply to all persons or situations.
Name: Purple Mining
Price to Join: Free but in order to be in the game, the minimum amount to invest is 0.0005 BTC
I recommend Affiliate Marketing. Check the Pros and Cons of both business models (Affiliate Marketing vs. MLM).
What is Purple Mining?
Purple mining is sort of an investment company. I say sort of because soon you are going to find out that it is not what it looks like.
I mean, they promise you a 1000% ROI in a week!.
This is freaking ridiculous.
According to their website, this is supposed to be the best cryptocurrency mining platform.
Let me assure you that it is not and right from first sight this looks like a Ponzi Scheme.
But let’s check a bit further.
Apparently, their headquarters is in London in the Gateway Business Centre.
Most likely this is a fake addres, which reminds me of another scam, called PetronPay.
Who Runs the Purple Mining?
We don’t know who is behind this company.
There is no information about the founders, nor the CEO.
We only know that the company is registered as a Private Limited Company in October 2020.
The same applies to their website.
It was registered only a few months ago, on the 29th of September, 2020.
Is Purple Mining a Pyramid Scheme?
Here are the typical signs of a pyramid scheme.
Well, Purple Mining is promising you a large income every week, it requires you to invest your money (in this case Bitcoin).
It also sounds too good to be true so with that being said, Purple Mining is a Pyramid Scheme (Or Ponzi Scheme, if you will).
They even say that you can’t lose money.
I am sure you know that legit companies must let you know that every investment is risky and the chances that you lose money are pretty high.
That’s why the claim in the Purple Mining FAQ section is ridiculous.
How Much to Join the Purple Mining
Everyone can join Purple Mining for free.
However, if a person wants to “play this game” he or she must invest at least 0.0005 BTC. As of this writing, this equals to $9.20.
As you see, the largest amount to invest is 100 BTC (more than $1.8M).
There are 2 ways on how to make money with Purple Mining. Please keep in mind that the following figures are just hypothetical since a person who invests in Purple Mining will never see his money back.
According to their website, one can invest:
- .0005 BTC to 10 BTC and get 200% ROI over 120 hours (5 days
- .04 BTC to 10 BTC and get 400% ROI over 96 hours (4 days)
- .5 BTC to 100 BTC and get 1000% after 7 days.
2nd way is becoming an affiliate, meaning Purple Mining pays a referral commission.
There are 2 levels and you can earn 5 % on level 1 and 1% on level 2.
The question is, where is the money coming from?
How come that they can pay you that much?
Or at least they claim so.
Well, most likely they don’t pay at all.
The only money that flows into the company is the money from new members.
There is absolutely no evidence of any external source of revenue.
With that being said, this is an outright Ponzi Scheme dealing with cryptocurrency.
Once people stop with their investments the entire structure collapses.
What other people think about the Purple Mining
The reviews about Purple Mining look outstanding.
Unfortunately, the ratings with 5 stars look suspicious.
This is more realistic and it is quite fresh as well.
If you want to keep an eye on this dating site, here is the link.
What I like about Purple Mining
- Nothing I can like about the Purple Mining
What I don’t like about Purple Mining
- Unrealistic income claims
- We don’t know who runs the company
- Fake address
- Ponzi Scheme
Is Purple Mining a Scam?
It is and a big one.
Stay away from this company.
I believe that everyone who is sane, understand that 1000% in such a short period of time is an outright B.S. (Excuse my language)
When it comes to investing remember the following rules:
- Make sure that you have a way out quickly
- Don’t invest more than you can afford to lose
- Realize that you are on the outside, looking in. And people who are inside have a plan, you don’t know about.
Also One should be careful with the Bitcoin thing.
Please share with us your thoughts on Bitcoin in the comment section below.
I am sure, it will be beneficial for other readers.
Also if you have questions about Purple Mining, let me know in the comment section below.
thank you for reading,