My Blockchain Life Review: MyBlockchainLife.com An Expensive Crypto Mining Scam

My Blockchain Life is presenting itself as a modern crypto mining solution. Its website, MyBlockchainLife.com, states that the team behind this company has years of experience in providing reliable and efficient crypto mining services. However, this platform was actually formed in January 2020.

There are many other aspects of the company that should be discussed in detail before deciding whether you should invest in this platform. Keep reading this article to get all of the required information and make a smart investment.

Overview of My Blockchain Life

My Blockchain Life is a company that is offering a variety of crypto mining solutions. It claims to have state-of-the-art mining equipment that can help you make significant profits from the crypto industry. However, there is no proof that the company is actually capable of mining crypto coins.

Moreover, MyBlockchainLife.com is claiming to be a well-established platform in the crypto industry. In reality, it was founded quite recently, in August 2020. The crypto industry is a highly-competitive sector, and it is not possible for a new platform like My Blockchain Life to make its mark in such a short period of time.

Similarly, the website mentions that the users will be getting 24/7 technical support. Yet, there is no quick way of contacting the people behind this company. In fact, My Blockchain Life is not even disclosing the name of its owner and team. It keeps mentioning having a team of highly professional and competent individuals, but it does not provide any further information.

Registration Process of My Blockchain Life

Investment in MyBlockchainLife.com is extremely expensive. The company is asking $3000 from every user to invest in crypto mining hardware. In addition to the massive amount of $3000, you will also have to invest $1250 every 500 days or $2000 every 1000 days.

Compared to many other crypto mining platforms, this is a very huge investment. A new company like My Blockchain Life should not be demanding such kind of a large amount of money. However, the logic behind asking this amount is that the company wants to collect as much money as possible before its eventual collapse.

Income Structure of My Blockchain Life

In order to seem like a legitimate crypto mining platform, the company is also providing details of its mining equipment. MyBlockchainLife.com states that the $3000 you invest in the mining equipment is used to buy, install, and maintain a Block X Miner or BTC Miner. Moreover, the other investment of $1250 or $2000 is used for crypto mining procedures.

The website is also promising the affiliates that all of the commissions and bonuses will be distributed in a timely manner. However, My Blockchain Life does not explain the procedure of giving these commissions.

The affiliates’ ranks are a major part of the income structure of My Blockchain Life. Most of the commissions are promised on the basis of the following ranks:

1. Prospector Rank at which you have to recruit at least two affiliates and make 5000 GV.
2. Bronze Rank, at which you have to recruit at least two affiliates and make 125000 GV.
3. Silver Rank at which you have to recruit at least two affiliates and make 25000 GV.
4. Gold Rank at which you have to recruit at least four affiliates and make 100000 GV.
5. Platinum Rank at which you have to recruit at least six affiliates and make 5000000 GV.
6. Diamond Rank, at which you have to recruit at least eight affiliates and make 1000000 GV.
7. Vice-Chairman Rank at which you have to recruit at least ten affiliates and make 5000000 GV.
8. Chairman Rank at which you have to recruit at least twelve affiliates and make 100000000 GV.
9. Global Chairman Rank at which you have to recruit at least twelve affiliates and make 25,000,000 GV.

This income structure of My Blockchain Life shows that this is not a suitable opportunity for earning a good amount of profits. Instead of investing your money in this platform, you should consider learning about crypto mining companies. These companies have all of the required mining equipment to help you in mining crypto coins with minimum investment.

Rank Achievement Bonus

MyBlockchainLife.com promises the following compensation on different ranks:

• Affiliates who qualify for the Prospector Rank can generate $250.
• Affiliates who qualify for the Bronze Rank can generate $500.
• Members who qualify for the Silver Rank can generate $1000.
• Affiliates who qualify for the Gold Rank can generate $2500.
• Affiliates who qualify for the Platinum Rank can generate $10,000.
• Members who qualify for the Diamond Rank can generate $20,000.
• Affiliates who qualify for the Vice-Chairman Rank can generate $125,000.
• Affiliates who qualify for the Chairman Rank can generate $250,000.
• Members who qualify for the Global Chairman Rank can generate $1,000,000.

Referral and Residual Commissions

MyBlockchainLife.com is heavily promoting its residual and referral commissions. Like most of the other Ponzi schemes, these commissions are an important part of the income structure. The company has not placed any limit on the highest number of levels of a binary team. Instead, it is encouraging people to invest as much money as they can.

It is quite evident that the company wants you to invest a large amount of money in the company and make other people join the platform as well. In order to incite people to register with My Blockchain Life, the website is promising the following commissions:

• Members of level 1 can generate 20% commissions by directly recruiting the affiliates.
• Members of level 2 can generate a 10% commission by directly recruiting the new members.
• Affiliates of level 3 to level 5 can earn a 2.5% commission by personally recruiting the new members.

Conclusion

The above discussion should make it clear to you that My Blockchain Life is not a suitable company for investment. It is asking for a very large amount of money as an initial investment. Moreover, the company is making several claims that are simply untrue. For instance, it is presenting itself as the fastest growing blockchain network, whereas, in reality, it is just another new crypto company.

Moreover, MyBlockchainLife.com claims to be registered with international regulatory authorities. Yet, it does not mention the name of any such body. The company’s claims of being an official and legal company are not verifiable by any means. In fact, all of the evidence point to the fact that My Blockchain life is a traditional Ponzi scheme and not a crypto mining platform. Therefore, you should not trust its claims.

You should also consider the fact the company is asking you to invest $3000 in buying crypto mining equipment. If you have to buy the entire equipment for crypto mining, then there is no purpose in investing in a company like My Blockchain Life.

It is going to great lengths to conceal the original name of the owner and the location of the company. In other words, MyBlockchainLife.com is a highly suspicious platform that does not want to reveal the identities of the people behind this platform to avoid legal issues in the future. You will end up losing your money if you invest in this company.

The bottom line is that My Blockchain Life is not a genuine crypto mining platform. You should avoid investing in this company. Instead, check out the genuine and trustable crypto mining companies. These platforms have been operating in the crypto industry for a long time now. Therefore, you can trust these crypto mining companies to earn a good amount of profits.