HelixxMine Review: Monthly ROI cryptocurrency mining scheme
HelixxMine provides no information on their website about who owns or runs the business.
The HelixxMine website domain (“helixxmine.com”) was registered on March 7th, 2018.
“Helixx Mine” is listed as the owner, through a residential address in London, UK.
The same address appears on HelixxMine’s website, as well as an incorparation number that corresponds with “Helix Global Co LTD” (May 2018).
UK incorporation is dirt cheap and for the most part unregulated. It is a favorite for scammers looking to incorporate dodgy companies.
On their website HelixxMine claims its
mining facility is based in South East Asia.
We have offices in Thailand and Indonesia who take care of our Asia Pacific clientele as well as a registered company in the United Kingdom who deals with our European clients.
No evidence of any of HelixxMine’s marketing claims are provided.
At the time of publication Alexa cites Iran as the top source of traffic to the HelixxMine website (18%).
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
HelixxMine has no retailable products or services, with affiliates only able to market HelixxMine affiliate membership itself.
The HelixxMine Compensation Plan
HelixxMine affiliates invest funds on the promise of an advertised ROI.
A ROI calculator is provided on the HelixxMine website:
- an investment of $100 corresponds with a $24.68 monthly ROI
- an investment of $1010 corresponds with a $249.32 monthly ROI
- an investment of $10,000 corresponds with a $2468.49 monthly ROI
From this we can calculate HelixxMine are guaranteeing a monthly ROI of about 24% to 25%.
HelixxMine pay affiliates 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.
HelixxMine cap residual commissions down five unilevel team levels.
Residual commissions are paid out as a percentage of invested funds across these five levels as follows:
- level 1 (personally recruited affiliates) – 10%
- level 2 – 4%
- levels 3 – 2%
- levels 4 and 5 – 1%
HelixxMine affiliates who qualify for Platinum status receive an increased 10.8% level 1 commission rate.
HelixxMine do not provide Platinum status qualification criteria.
HelixxMine affiliate membership is free.
The minimum investment amount provided on the company’s ROI calculator is $20.
HelixxMine presents itself as your typical illegal MLM cryptocurrency unregistered securities offering.
The company clearly promises a passive ROI, on top of pyramid recruitment commissions paid on new investment.
HelixxMine are not registered to offer securities in any jurisdiction they operate in.
In fact in somewhat laughable fashion, HelixxMine leaves regulatory due-diligence up to its investors;
Is this legal?
Some countries have laws pertaining to crytptocurrency [sic] which need to be adhered to.
Please familiarize yourself with your countries regulations before continuing to use HelixxMine’s services.
To be clear, without appropriate registration with securities regulators, HelixxMine is committing securities fraud in every jurisdiction it solicits investment in.
With respect to ROI revenue generation, HelixxMine claims to be generating revenue via cryptocurrency mining.
This is something they’d be required to provide documentation on if legally registered, hence the need to operate illegally.
As it stands the only verifiable source of revenue entering HelixxMine is new affiliate investment.
The use of new investment to pay existing affiliates a ROI makes HelixxMine a Ponzi scheme.
As with all Ponzi schemes, once affiliate recruitment dies down HelixxMine will be unable to meet its ROI obligations.
At that point the company has an ICO exit-scam planned;
We believe wholeheartedly that Cryptocurrency will dominate all currencies in the future.
Our goal is straightforward: grow this industry! 2018 will see the inclusion of Helixxpay – our very own wallet and exchange platform, and Helixxcoin – our ICO and the start of the company expansion.
Helixxcoin will likely first surface as the only available ROI payment method.
HelixxMine will then pump it internally with the usual promises of “lambo to the moon” riches, before doing a runner with what’s left of the real money invested.
HelixxMine affiliates will be left holding yet another garbage altcoin, which they can dump on each other through Helixxpay until the value inevitably crashes to $0.
So the MLM cryptocurrency heist continues…