When it comes to investing, one of the more popular investments out there is crypto.
The reason being is that there is very high reward along with very high risks. Which is why it’s considered a speculative stock.
For this reason, you see MLM businesses trying to recruit people into this business model.
One company in particular is Mining City. And I’m sure you’re wondering if this company is a scam or not.
Well in this review, I plan on providing you with all the information you need to make a sound decision.
After this review, you should know if this company is worth your time or not.
Mining City Review Summary
Product Name: Mining City
Founder: Not Mentioned
Product Type: Multi-Level Marketing
Price to join: $300 to $12,600
Best For: No one
Summary: Not only is Mining City your typical pyramid scheme, one could easily make the claim it is a Ponzi scheme. Although it is possible to make some money in it, no way is this business model sustainable. That’s because it relies on you recruiting people into the business. Once the recruiting stops, so does the money. This is how most if not all businesses like Mining City collapse.
Frequently Asked Questions
1.) What is Mining City? Mining City is located in Asian countries like Japan and South Korea. In some cases they’re even targeting countries like Brazil.
They practice in the business of crypto mining, and present business opportunities for those who are interested in investing.
The CEO of this company is Gregory Rogowski.
2.) How do you make money with them? The same way all these MLM scams claim to help you make money.
They ask you to recruit others into the business which helps you build a downline. Every time you recruit someone, you receive a commission.
You also get a commission if someone in your downline recruits someone.
3.) What are the red flags? If you haven’t noticed the red flag in the last question, let me break it down for you.
If your main source of income is recruiting, then when you stop recruiting, so does your income. This is an unsustainable business model.
But the biggest red flag is that the company is not allowed to sell securities as a passive investment.
Whenever a company is registered to sell securities, they have to show their revenue sources. This is done to make sure that investors will be compensated.
If you find that a company isn’t registered, this can be a huge indicator that they are performing a Ponzi scheme.
And since the company is located in Poland, and they target countries in Asia, they can get away with scamming people.
And don’t expect the Polish government to do anything about this.
Does Mining City Operate Like A Pyramid Scheme?
First off, they claim that you can make up to $40, which is super rare for any survey site.
But they also state that most survey sites pay anywhere between$5 - $15. Which is possible, but still very high in most cases.
So When looking through their site, you’ll notice that there’s not a lot of information made available to you.
Basically what they want you to do is click on their “Start Earning” button which will bring you to a their questionnaire.
Once you’re done answering their questions, they make it seem like they’re finding you the best surveys that will pay you the most amount of money.
When in reality they’re just generic questions that pretty much lead to the same outcome.
So once it finishes populating, they ask you to input your name and email to unlock the results. You are then taken to a page where you are recommended to 3 survey sites.
Why So Many People Fail With MLM’s
Let me just start off by saying that not all MLM’s are scams. in fact, MLM’s are actually legal. The problem is, they are extremely hard to succeed in.
The reason being:
- Most people lack business skills/training
- Recruiting can be extremely difficult
- People that are making the money are those that started the business and have thousands of people in their downline
Knowing this, the chances of you being successful in any MLM business is slim to none.
Most people when they join any MLM, the first people they run to and ask to join are friends and family members.
Any savvy business person knows they are the least likely people to have interest in joining your business.
That’s because they don’t share your vision nor desire. Succeeding in business is about finding a problem, and solving that problem.
Once you understand that, success in business becomes simple.
Getting Started With Mining City
How Much To Join Mining City
In order to join Mining City, you first have to make an investment. The investment amount is based on different levels. Those levels are:
- Primary ($300)
- Standard ($600)
- Bronze ($1200)
- Silver ($2400)
- Gold ($4200)
- Platinum ($12,600)
Mining City Compensation Plan
Like most compensation plans, Mining City’s compensation plan is long and complicated.
This is obviously done to confuse the heck out of you so that you’re not asking too many questions.
Their chart shows a bunch of tiers and levels that are supposed to give you a breakdown of what you can earn. Let me give you a quick summary of it below.
Mining City has 8 different affiliate rankings. Depending on your ranking, you will get compensated based on that rank level.
Below is a list all the rankings and what you will have to do to reach them:
- Resident: $300 Investment
- $600 Investment
- Invest $600, recruit five people that invest $600 and generate $12,000 from your downline investments.
- City Developer: $600 Investment, along with three people who are City Builder ranking below you and generate $60,000 in your downline investment.
- City Manager: $2400 Investment, have three people who are City Developer rank below you and generate $300,000 in downline investment
- City Chief Manager: Invest $4200, have three City Managers below you and generate $2,400,000 in downline investments.
- City Mayor: $12,600 Investment, have three City Chief Managers below you and generate $12,000,000 in downline investment.
- Governor: $13,800, have three City Mayors below you and you have to generate $100,000,000 in total investments.
As you can see, there are a lot of numbers that are almost impossible to reach. Obviously they don’t want you to reach these levels.
For those that are unfamiliar with what residual income is, it’s the income you earn from your downline.
If you’re downline recruits people, not only do they earn their commission, but you do as well.
Take a look below to see what you could earn based on your rankings:
- Residents can earn up to $200 per day
- Citizens can earn up to $800 per day
- City Builders can earn up to $1000 per day
- City Developers can earn up to $1200 per day
- City Managers can earn up to $1600 per day
- City Chief Managers can earn up to $2000 per day
- City Mayors can earn up to $2400 per day
- Governors can earn up to $2800 per day
This can go even further depending on your rank. As long as your downline recruits, you can earn residual income.
What I Like About Mining City
I couldn’t really find much to like about this company.
What I Don’t LIke About Mining City
Pyramid Scheme: like I said earlier, an easy way to find out if an MLM is legit or not, is to see if they have products to sell. If all they require you to do is recruit, then that’s a pretty huge indicator. And from looking at Mining City’s compensation plan, this looks to be the case.
Not Registered: In order to sell securities, you have to be registered. If this isn’t the case for any particular company, more than likely it’s a Ponzi scheme.
No Refunds: the fact that the owner lives somewhere other than where this company is marketed, should give you cause for pause. Once this business fails, good luck getting your money back.
Is Mining City A Scam?
Most definitely! I’ll say it again, the fact that there are no products to sell tells you this is a scheme, and most likely illegal depending on the country’s laws.
Although I wouldn’t recommend most MLM’s, if you do happen to join one, make sure they both recruit, and allow you to sell products.
Mining City is not one of these companies, so should be avoided at all costs.
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