The owner of miningexpress.com is 100% anonymous, and their operations with regards to Cryptocurrency mining is equally a grey area. The domain where the site is hosted at was first registered in 2004 but was last updated in August 2017. This means the date that the current anonymous owner assumed ownership of the domain from the previous owner who registered it in 2004. According to promotion material, the site claims that Mining Express is the property of someone called Kaze Fuziyama. Kaze Fuziyama is allegedly a citizen of Brazil.
Prior to Mining Express getting launched on the internet, Kaze Fuziyama was promoting D9 Clube and One Thor ponzi scams.
We therefore think that Mining Express is a highly suspicious project which is likely to cause losses if investors are tricked into pouring a lot of money into the project. Because of this, we want to warn investors in this review not to trust this non transparent website.
As a beginner, Mining Express wants you to pay $100 investment which will generate for you a ”fixed daily bonus”. Once the first month of joining has elapsed, Mining Express will allegedly charge $10 fee. This is an ongoing fee for as long as the investor will opt to stay with Mining Express.
The first red flag here is that the daily fixed bonus has not been elaborated. No information about how much you will earn or even how that bonus will be generated. Instead, the owner leaves it for his visitors to figure it out on their own.
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There are 3 plans in total which investors are expected to put money in with the promise that they will earn a fixed bonus.
The investment plans in question demand a minimum of $500, $1200 and $20,000 respectively. Again, these plans don’t reveal the percentage of earnings that will be awarded to those who purchase the plans.
In addition to this, Mining Express claims that it will pay out a certain percentage to its affiliates who successfully promote the project to new investors. The amount of money that an affiliate gets paid is dependent on how much the new investor actually pumps into the project. There is a 3 level commission structure which compensates 5%, 6% and 7% respectively.
Also, Mining Express claims that they are intending to pay residual commissions which are based on a binary compensation structure.
In a binary compensation structure, the recruiter must make two positions which should be filled by two persons. In the second level, the recruits must do the same thing as in the first level, and thus the affiliate tree continues growing in that manner.
Unfortunately, Mining Express does not say whether payments will be issued on a daily, weekly or monthly basis. This is an area that is grey because the site does not want to discuss how and when recruiters and participants will get paid.
The site claims that people will get paid a bonus when they join, when they recruit and also when they opt to mine Cryptocurrencies on this platform.
The whole thing seems to revolve around generating revenue from new members who build the compensation structure.
By the way, despite Mining Express claiming that they will generate a ROI for their members, there seems to be no evidence suggesting that this website is generating revenue from external sources, i.e mining altcoins to generate profits for their members.
We’ve come across a presentation doing rounds on the internet claiming that Mining Express has mining facility in Kropyvnytskyi, Ukraine. This mining facility, however, is represented by an illustration which is then followed by a couple of stock photos. These stock images are allegedly representing the offices of this supposed to be mining company.
Obviously we can’t believe this kind of thing. It depicts or suggests that Mining Express does not have a mining facility anywhere in the world and not just in the said location.
The other thing worth noting is the reference to Kirovohrad/Kirovograd. This place was formerly named Kropyvnytskyi, and this suggests that the person doing the presentation is familiar with Ukraine. By the way, this promotional material is in Portuguese language. This further proves that Mining Express could be a scam based in Russia.
As to whether or not this site will generate revenue, we can assure you that the only verifiable source of potential income is in their referral program. The allegations that this site mines altcoins can’t be proved. If anything, we have only found more concrete proof that this site does not own or have any mining facility. So it is obvious that they can’t mine even if they wanted to.
So far, this is intentional. It is a lie that all ponzi scams tell. They pretend that they are mining altcoins when they are only depending on new deposits to make payouts. In the worst case scenario, a scam ponzi scheme like Mining Express will not even make payouts at all. Not very many ponzi scams are paying.
Mining Express operates like a trust fund because members are required to put funds into a common place with the promise that they will be invested in mining. This suggests that Mining Express is operating like a hedge or trust fund. This sort of business needs a license.
So far, the website of Mining Express has no information pertaining to their license from any regulator who is based in the region where they operate from.
In other words, this website is an illegal operation that is trying to lure people into scam altcoins mining when at the same time operating in jurisdictions where this kind of activity is highly regulated. Now, this is a huge red flag that you must never avoid.
The evidence is right there. You don’t need to scratch your head so hard in order to figure out that this is a scam. Mining Express should be a no go zone for you if you don’t want to lose money. If you are concerned with how you can genuinely mine altcoins, go here.
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