LKminers Review: Crypto mining ruse Ponzi scheme
LKminers fails to provide ownership or executive information on its website.
LKminers’ website domain (‘lkminers.io”), was privately registered on August 18th, 2023.
Over on YouTube LKminers has one video on its channel. It’s stock footage with a voiceover.
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.
LKminers has no retailable products or services.
Affiliates are only able to market LKminers affiliate membership itself.
LKminers’ Compensation Plan
LKminers affiliates invest USD equivalents in cryptocurrency.
This is done on the promise of advertised returns:
- invest $500 or more and receive 2% a day for 84 days
- invest $1500 or more and receive 3% a day for 84 days
- invest $3500 or more and receive 4% a day for 84 days
LKminers pays referral 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.
LKminers caps payable unilevel team levels at five.
Referral commissions are paid as a percentage of cryptocurrency invested across these five levels as follows:
- level 1 (personally recruited affiliates) – 5%
- level 2 – 4%
- level 3 – 3%
- level 4 – 2%
- level 5 – 1%
LKminers affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $500 investment.
LKminers solicits investment in various cryptocurrencies.
LKminers represents it generates external revenue via cryptocurrency mining.
Lkminers stands as a beacon of innovation and efficiency in the realm of cryptocurrency mining.
With a profound understanding of blockchain technology and a relentless pursuit of excellence, we have established ourselves as a prominent player in the dynamic world of digital currencies.
No verifiable evidence of LKminers being engaged in or generating external revenue via mining is provided.
Furthermore, LKminers’ business model fails the Ponzi logic test.
If LKminers already has mining operations generating 4% a day on a consistent basis, what do they need your money for?
As it stands, the only verifiable source of revenue entering LKminers is new investment.
Using new investment to pay affiliate withdrawals would make LKminers a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.
This will starve LKminers of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.