Coin Mining Reviews is Coinmining.website a Scam or Should I Invest

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Mining Capital Coin Review: 52 week ROI cryptocurrency mining fraud

Mining Capital Coin provide no information on their website about who owns or runs the business.

The Mining Capital Coin website domain (“miningcapitalcoin.com”) was privately registered on January 30th, 2020.

Marketing material on the Mining Capital Coin website claims ‘the company’s office located in Boston, Mass.

The native language of the Mining Capital Coin website is Portuguese and the compensation plan references the Brazilian Real.

Thus it is highly likely that whoever is running Mining Capital Coin is actually based out of Brazil.

The SEC’s shutdown of TelexFree however taught us that Massachusetts has a large Brazilian migrant population, so it can’t be ruled out as a possibility.

Update 2nd May 2020 – A marketing video published two months ago reveals Jr. Caputti is CEO of Mining Capital Coin.

Caputti speaks with a heavy Brazilian accent but appears to frequently travel between Brazil and Boston, Massachusetts.

On his Facebook profile, Caputti claims to be a former officer at the US Department of Homeland Security. He also claims to have worked for the Massachusetts Department of Education.

Earlier today Caputti was on Facebook boasting about purchasing a new Porsche:

/end update

Read on for a full review of the Mining Capital Coin MLM opportunity.

Mining Capital Coin Products

Mining Capital Coin has no retailable products or services, with affiliates only able to market Mining Capital Coin affiliate membership itself.

The Mining Capital Coin Compensation Plan

Mining Capital Coin affiliates invest $250 to $5000 on the promise of an advertised 52 week ROI.

  • Silver – invest $250 and receive $60 a month
  • Gold – invest $500 and receive $120 a month
  • Premium – invest $1000 and receive $240 a month
  • Platinum – invest $2000 and receive $480 a month
  • Diamond – invest $5000 and receive $1200 a month

Note that Mining Capital Coin charge a 3% on all ROI and commission withdrawals.

Recruitment Commissions

Mining Capital Coin pay affiliates to recruit new affiliate investors:

  • recruit a Silver affiliate and receive $12.50
  • recruit a Gold affiliate and receive $25
  • recruit a Premium affiliate and receive $50
  • recruit a Platinum affiliate and receive $100
  • recruit a Diamond affiliate and receive $250

Residual Commissions

Mining Capital Coin pay residual commissions via a binary compensation structure.

A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):

The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).

Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.

Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.

Each Mining Capital Coin investment package corresponds with a set number of points:

  • Silver – 40 points
  • Gold – 80 points
  • Premium – 160 points
  • Platinum – 320 points
  • Diamond – 800 points

When affiliates placed in a binary team sign up and invest, the corresponding point value of their investment is added to the side of the binary team they are on.

At the end of each day Mining Capital Coin tally up newly generated points on both sides of the binary team.

Affiliates are paid a 50% residual commission on points generated on their weaker binary side.

Note that residual binary commissions are capped at $5000 (10,000 points) per day.

Membership Fee Commissions

Each Mining Capital Coin affiliate has to pay a $50 a month fee per active investment package they have.

Mining Capital Coin take these fees and used them to pay residual commissions via a unilevel compensation structure.

A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):

If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.

If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.

Mining Capital Coin pay membership fee commissions down five unilevel team levels as follows:

  • level 1 (personally recruited affiliates) – 10%
  • level 2 – 7%
  • level 3 – 5%
  • level 4 – 3%
  • level 5 – 1%

Joining Mining Capital Coin

Mining Capital Coin affiliate membership is tied to investment in one or more packages:

  • Silver – $250
  • Gold – $500
  • Premium – $1000
  • Platinum – $2000
  • Diamond – $5000

Packages are valid for 52 weeks.

Each Mining Capital Coin affiliate must also pay a $50 fee per active package they’ve invested in.

Conclusion

Mining Capital Coin claim to generate ROI revenue through cryptocurrency mining;

Mining Capital Coin is a company that operates modern field of cryptocurrency mining [sic].

We have a mining plant with the best equipment on the market, located in the United States of America.

As well as forex, “sports trading” and “cryptocoins exchange”.

No evidence of any of these claims is provided.

Furthermore, Mining Capital Coin’s business model fails the Ponzi logic test.

If the company’s anonymous owners were truly able to generate a consistent $14,400 annual ROI off a $5000 investment (more once referral commissions and fees are factored in), why would they be soliciting investment from randoms over the internet?

Yet despite these deficiencies, Mining Capital Coin claim

in the Mining Capital Coin the return of your investment is guaranteed!!

First and foremost if Mining Capital Coin is indeed based out of Massachusetts in the US, they need to register their passive investment opportunity with the SEC.

A search of the SEC’s Edgar database however reveals Mining Capital Coin is not registered.

This means that at a minimum Mining Capital Coin are engaged in securities fraud.

Part of this is the high probability Mining Capital Coin are simply shuffling around newly invested funds to pay off existing investors.

This will see the company able to pay ROIs until affiliate recruitment slows down.

At that point Mining Capital Coin collapses, with Ponzi math dictating that the majority of investors will lose money.

Bitcoin Cloud Mining

Want to find the best Bitcoin cloud mining contracts? This post has you covered.

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Most Bitcoin Cloud Mining Companies are Scams

Like the heading says, most cloud mining contracts are scams. Why?

Because it’s easy for companies to take peoples’ money, and then not pay out. A company can claim to be a cloud mining company without any proof of actually owning any hardware.

So remember: 99.9% of cloud mining companies are scams.

Quick Tip

Mining is not the fastest way to buy bitcoins.

Which Companies Are Not Scams?

We can’t recommend any cloud mining companies at this time.

Note: If you do find one, you’ll need a wallet to receive payouts to. A secure hardware wallet like the Ledger Nano X is a good option.

Is Cloud Mining Profitable?

It depends what your goals are with cloud mining. If your goal is to obtain bitcoins, then there is really no reason to cloud mine or even mine at all.

You will get more bitcoins for your buck if you just buy bitcoins!

VPNs for Mining

As a Bitcoin miner, you may also want to look into getting a VPN.

You can never have enough security when it comes to bitcoin. Using a VPN adds an extra layer of security.

Bitcoin Cloud Mining Comparison

There is not much to compare, because we personally do not recommend buying any cloud mining contracts so we will not spend the time to compare any.

But check back in to see if we find any new, legit cloud mining companies.

Bitcoin Cloud Mining Scams History

The reason there are so many cloud mining scams is because it is very easy for anyone in the world to setup a website.

Once the website is setup it can claim that the company has a large mining facility.

The company can act legit by sending initial payments to its customers. But after that it can just keep the already received payments for hash power and then make no further payments.

In just the last few months, two cloud mining scams were uncovered: HashOcean and Bitcoin Cloud Services.

Quick Tip

Mining is not the fastest way to get bitcoins.

Try an exchange below for the fastest way to get bitcoins.

What Payment Methods do Cloud Mining Companies Accept?

Most cloud mining companies accept Bitcoin, PayPal, and credit cards. If a cloud mining company accepts bitcoins then there is a good chance it is a scam.

This is because Bitcoin payments cannot be reversed. Once the scam company receives your bitcoin payment you have no way to get your coins back.

Are there Free Cloud Mining Trials?

No company would give away free cloud mining; this is basically giving away free money.

Any company offering free trials, especially if they require payment information, is most likely a scam.

Quick Tip

Mining or buying bitcoins? You can’t do either without a Bitcoin wallet.

Our guide on the best bitcoin wallets will help you pick one. Read it here!

How does Bitcoin Cloud Mining Work?

Cloud mining means a host company owns Bitcoin mining hardware and runs it at a warehouse.

You pay the company and rent out some of the hardware. Based on the amount of hash power you rent, you will earn a share of payments from the cloud mining company for any revenue generated by the hash power you purchased.

Cloud Mining Viruses

There have been viruses that land on computers and then use the computers’ power to mine bitcoins.

Run a malware detector on your computer if you think you may have come under attack.

Is Mining Software the Same as Cloud Mining?

Mining software is something you download on your computer. It is required when you OWN mining hardware. Software connects your hardware to the internet so that it can make hashes and communicate with the network.

Just buy Bitcoins!

If you just want bitcoins, don’t bother with cloud mining. Just find an exchange in your country and buy some bitcoins.

Learn More

Best Bitcoin Mining Software

Best Bitcoin Mining Hardware

Best Bitcoin Mining Pools

Disclaimer: Buy Bitcoin Worldwide is not offering, promoting, or encouraging the purchase, sale, or trade of any security or commodity. Buy Bitcoin Worldwide is for educational purposes only. Every visitor to Buy Bitcoin Worldwide should consult a professional financial advisor before engaging in such practices. Buy Bitcoin Worldwide, nor any of its owners, employees or agents, are licensed broker-dealers, investment advisors, or hold any relevant distinction or title with respect to investing. Buy Bitcoin Worldwide does not promote, facilitate or engage in futures, options contracts or any other form of derivatives trading.

Buy Bitcoin Worldwide does not offer legal advice. Any such advice should be sought independently of visiting Buy Bitcoin Worldwide. Only a legal professional can offer legal advice and Buy Bitcoin Worldwide offers no such advice with respect to the contents of its website.

Buy Bitcoin Worldwide receives compensation with respect to its referrals for out-bound crypto exchanges and crypto wallet websites.

Wallabit Media LLC and/or its owner/writers own Bitcoin.

CoinEgg Review – Is coinegg.com scam or safe cryptocurrency exchange?

Trading Accounts

Account type Leverage Trading Fee Deposit Fee
Standard N/A 0.10% Free (Crypto only)

CoinEgg is a cryptocurrency exchange, based in the United Kingdom. The company only focuses on digital assets, without providing any form of fiat currency trading. While this will make them unattractive for some companies

CoinEgg Advantages

A lot of altcoins – at the time of writing of this review, 42 different assets are included on CoinEgg. While the usual suspects, such as Ethereum, Bitcoin Cash and Litecoin are present, some of the rest appear to be more exotic. You must check the details to get the full picture, but it’s safe to say these are not the top coins, in terms of market capitalisation.

While 42 may be a lot for some people, if you are looking for a specific coin/token, you should first do your research on the venues, where it is traded. Bittrex, Binance and EtherDelta are very likely to have it.

Low trading fees – the 0.10% fee on all trades makes CoinEgg a very competitive exchange. While other parts of their service may not be so pleasant, you must keep in mind a lot of exchanges charge something around 0.25%, with Kraken offering 0.26%, but a more trader-friendly environment.

Has not been hacked – CoinEgg has been around since 2020 and we didn’t find any information on a successful attack around this exchange. This is not a guarantee for the future, but is always a good sign.

CoinEgg Disadvantages

Trading only against BTC – as we hinted in the beginning CoinEgg does not offer any type of fiat currency integration. Even the slightly controversial Tether tokens (USDT – a cryptocurrency backed by US dollars) are not listed.

Low liquidity on some instruments – this is to be expected given the nature of CoinEgg – fiat currency deposits are not supported and some of the tokens seem bizarre (at least to us).

Withdrawal fees up to 1% – this exchange charges withdrawal fees, which can go as high as 1% for the more exotic coins. The rates for the more popular coins are rather acceptable, with 0.001 BTC, 0.001 LTC and 0.01 ETH, respectively.

No leverage offered – CoinEgg does not allow traders to borrow money in order to speculate more aggressively. If this is what you are looking for, a forex broker may be a suitable alternative for you.

CoinEgg is a UK-based digital assets exchange. The company does not accept or send any form of fiat currencies, which puts them in the category of trading venues which are not regulated (as no legislation for them exists). This will definitely not be everybody’s cup of tea, but when it comes to exotic assets, CoinEgg offers a few of them. With such low fees, it’s not hard to see this exchange attract even more volume in the future.

Coming back to the regulatory aspect, we will reiterate what you probably know – dealing with cryptocurrencies still carries a significant level of risk. Even some of the top-tier exchanges have been hacked in the past. This is one of the topics on which the forex, brokers offering cryptocurrency trading have an edge. That being said, scammers do pop-up in the field of traditional finance. Check our list of tightly regulated forex brokers, offering Bitcoin below.

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

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