Welcome to our Mining City Review!
This cryptocurrency isn’t new, but it has had a number of changes over the years since it was first launched, so we are here to review what Mining City 2.0 is about, and whether it is worthwhile your time and money to get involved with.
The most notable change is to do with their compensation plan, so let’s get into the details and share with you what we found…
First off, it is great to see that you are doing your research before buying into any “seemingly good” product.
To be completely transparent with you, we are not associated with Mining City in any form. We are not here to pitch or sell you anything.
Instead, we just want to reveal to you what we found, and why you should avoid this cryptocurrency Ponzi scheme…
Mining City Review Summary
Product Name: Mining City
Founder: Grzegor Rogowski
Product Type: Cryptocurrency MLM Scheme (Ponzi Scheme)
Price: Minimum Investment of $500
Best For: No One!
Summary: Mining City claims to be a Cryptocurrency Investment program, but the reality is that with their Pyramid style compensation plan, it shows that they are nothing more than a Pyramid scheme. On top of that, they are committing securities fraud as well. We will go through the details in our review, but our advice is to steer clear of it…
Table of Contents
What is Mining City?
There is very little information provided by Mining City on their landing page, and that should be the first red flag that something is up. All they tell you is that they are an MLM or Multi-Level Marketing company that is running a Cryptocurrency investment platform.
The domain itself was first registered in 2003 with Prophetek listed as the domain owner. There is also an incomplete address, which is in Cyprus, that came up with the registration information.
That is our second sign or red flag about this program. That is because Cyprus is pretty lenient towards scams, so it isn’t far-fetched to think that these details are probably fake…
You do get some information about who is behind the program in their marketing videos though. One of the videos that is showcased in their Investment Seminar in Vietnam, from May 2019, and was uploaded on their official YouTube channel gives us an insight into the people behind it.
This video shows a talk given to a Vietnamese audience, and the backdrop of the seminar shows us two people. One of them is Grzegor Rogoski and Eval Avramovich.
Rogoski, or Gregory Rogogski based on his LinkedIn Profile also uses the alias Greg Strong. He is based out of Poland, so we could assume Mining City also operates from there.
As for Prophetek, the company listed as the domain owner, there doesn’t seem to be any other information about it, making us assume it is just a shell company for Mining City.
Mining City is Rogowski’s first MLM company, and it runs out of Europe. But it does seem to be that he is targeting people from Asia, and more specifically those from Vietnam, Japan, and South Korea.
Mining City Product Line
The first thing you should know is that if Mining City was a legitimate MLM company, there would be products or services available and that is a major problem with Mining City. That is because there are no products or services. The only thing available here is the membership into their income opportunity.
Basically, you are paying to be able to recruit people into the program and getting money out of it
Does the Product Work?
Well, like I said there is no real product to speak of. Only, the membership and that is why we firmly believe that Mining City is nothing more than a cloud mining securities investment fraudulent scheme.
We say that, because they are promising a passive income, which constitutes securities. That would usually mean transactions that involve trading and reinvesting to generate profits for member investments.
But they fail at the first hurdle, as they would need to be registered with the Polish Financial Supervision Authority in Poland, then they would also require to be registered with the Securities Exchange Surveillance Commission from Japan.
They would also be required to do the same with the respective regulator in any country they currently operate in or wish to operate in.
But there is no evidence to prove Mining City is registered to do any securities, or solicit any investments within the jurisdictions they operate in.
That means that they are operating illegally in any countries they are marketing to, which is all of them.
Then there is the point around them announcing they are partnered with third-party miners such as Minebest and BTC.com.
Now that might be the case, however we would like to bring their partnership up, as regulatory registrations normally require companies who offer passive income opportunities to provide evidence that they are actually generating external revenue to pay off investors.
In regards to Mining City, they claim that they’re generating revenue by investing into these mining companies. But it doesn’t actually prove that they are generating any external revenue. In fact, it looks like a smokescreen to fool would-be investors to think that they would get their money back, plus interest.
As far as we are concerned, the only source of income coming into the Mining City platform is from new investment from new members.
They could be generating revenue from mining, but there is no real evidence to prove that is being done, nor is there proof that this revenue is then used to pay off returns.
Haven't Made Your First $1 Yet?
How to Make Money with Mining City?
There is only one way to make money with Mining City, and that is by recruiting new members into the scheme.
How to Get Started with Mining City
If you were to join Mining City, there is a membership fee that you would be required to pay.
The minimum investment is $500, but can go as high as $3,500. Whilst their platform talks in US dollars, they actually require the investment to come in the form of Bitcoin. At the current exchange rate, $500 is 0.043 BTC.
Keep in mind, the only way you can hope to get any ROI back is by recruiting other people in…
Mining City Compensation Plan
There are 8 ranks that you can qualify for within the Mining City platform, these are:
- Resident – personally invest at least $300
- Citizen – personally invest at least $600
- City Builder – maintain $600 in active investment, recruit five Citizens and generate $12,000 in downline investment volume
- City Developer – maintain $600 in active investment, have a City Builder in three unilevel team legs and generate $60,000 in downline investment volume
- City Manager – invest $2,400 in active investment, have a City Developer in three unilevel team legs and generate $300,000 in downline investment volume
- City Chief Manager – invest $4,200 in active investment, have a City Manager in three unilevel team legs and generate $2,400,000 in downline investment volume
- City Mayor – invest $12,600 in active investment, have a City Chief Manager in three unilevel team legs and generate $12,000,000 in downline investment volume
- Governor – invest $13,800 in active investment, have a City Chief Manager in three unilevel team legs and generate $100,000,000 in downline investment volume
Each of these ranks constitutes the following:
- Higher initial and active investments
- Consistent initial and active investments of recruits
- Consistently recruiting people
- Consistently helping your recruits go and recruit people
You will get reinvestment commissions made by your downline members and are paid differently to package investments. We will describe this more in the residual commission section below…
Reinvestment is paid using the same mechanics as residual unilevel team commissions
Mining City pay matching bonuses via the same unilevel compensation structure used when paying out their residual commissions. This is capped at 11 unilevel team levels.
Unilevel Residual Commissions
This is a unilevel compensation structure, which places the affiliate at the top of the unilevel team. Any personally recruited members are placed directly under you, and this becomes your level 1. Their recruits will become your level 2, and this goes on and on.
Commissions are paid on investments across the entire unilevel team.
Binary Residual Commissions
You will also get residual commissions following a binary compensation structure. You’re placed at the top of the team, and two positions are split under you. Any personally recruited members will fall into the left or right leg. This will be your first level. Each of these legs, will then house two new positions under each of them and this will be your second level. This also goes on and on.
What We Liked About Mining City
Unfortunately, there are too many red flags for us to recommend this program and therefore couldn’t find anything positive to say. It is claiming to be an MLM, but it is clearly a Ponzi scheme…
What We Didn't Like About Mining City
Here is what we didn’t like about Mining City:
#1 It’s a Pyramid Scheme
It is claiming to be a legitimate MLM company, but it has no product or value. That would typically put it into the Pyramid scheme sector. But on top of that, you only way you can get any money back from this scheme is to recruit others. You have to invest to join, and then get someone else in to earn your money back. Then hope you can earn some money on top of that.
#2 Securities Fraud
As we said earlier, Mining City is committing Securities fraud. Members invest their BTC or BTCV into the scheme and collect passive ROI over the next 1100 days.
How that passive income is being generated is irrelevant, as Mining City doesn’t have the authority to do so. In order for MLM companies to operate legally, they must be registered with agencies that regulate securities.
There is no proof that Mining City is doing this, or that they are registered correctly. Bottom line is that they are operating illegally!
#3 The Coin Has No Value!
Mining City’s cryptocurrency, called BTCV has no value outside of the platform. The coin is just there to trick you into thinking your money is being cycled through the program.
It has no market value and cannot be traded anywhere else. It’s only worth using, if ever, in Mining City.
#4 Recruit, Recruit, Recruit…
The only way to make a ROI is to recruit other people into the same scheme you just conned into joining. But there is a scarier conclusion than that. Once the recruitment stops, or the authorities get wind of this Pyramid scheme the income will stop. No more recruitment, then no more money to repay the ROI people are expecting…
Haven't Made Your First $1 Yet?
Is Mining City a Scam?
In a word, yes. It is operating as a Pyramid Scheme within the Cryptocurrency niche, and that is illegal.
It has you thinking that you will be generating a passive income, but that is simply not the case:
- They’re committing securities fraud, as they are not registered with the relevant agencies that regulate securities and passive income
- Their compensation plan is based solely on recruitment, which makes it a Pyramid scheme. The only incentives come from recruiting new members into the scheme
- They lack any real products or services.
Our recommendations is to stay as far away from this scheme as you can.
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We’re not fans of MLM, not because it is illegal or not profitable, but because of all the restrictions and the expensive costs involved.
Instead, Affiliate Marketing is our top recommended business model for anyone looking to make money online.
The reasons are simple…
- There is no need to recruit anyone to make money
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- It’s FREE to get started
In fact with affiliate marketing we are earning a 4-Figure Monthly Passive Income. Thanks the training from our top recommended training Platform, Wealthy Affiliate.
Do You Want to Make Money Online, But Are Unsure Where You Can Get the Right Training & Support???
Thanks for checking out our Mining City Review. If you have any questions or comments to share, then please write them in the comments section below. 😉