Mining Up Review: Crypto cloud mining Ponzi scheme
Mining Up provides no information on their website about who owns or runs the company.
Mining Up’s website domain (“mining-up.com”) was privately registered on December 13th, 2019.
Alexa started recording trackable traffic to Mining Up’s website from January 2020.
On their website Mining Up provides an address in Tallinn, Estonia.
Given Alexa cites Brazil, Japan and Russia as the top three sources of traffic to Mining Up’s website, it is assumed Mining Up exists in Estonia, if at all, on paper only.
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.
Mining Up’s Products
Mining Up has no retailable products or services, with affiliates only able to market Mining Up affiliate membership itself.
Mining Up’s Compensation Plan
Mining Up affiliates invest cryptocurrency on the promise of a 730% ROI paid over 365 days.
- Bitcoin – minimum $10 investment
- Ethereum – minimum $9 investment
- Litecoin – minimum $10 investment
- Dogecoin – minimum $10 investment
Returns are paid in cryptocurrency as per the investment plan selected.
Referral commissions on invested funds are paid out down three levels of recruitment (unilevel):
- 7% on level 1 (personally recruited affiliates)
- 2% on level 2 and
- 1% on level 3
Joining Mining Up
Mining Up affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $9 investment.
Mining Up represents that it generates external revenue via cryptocurrency cloud mining.
Mining-up is a cutting-edge cloud-mining platform. We offer our clients to participate in the mining process using our powerful mining equipment.
You purchase a share of our computational facilities and we mine Bitcoin and various promising altcoins.
No evidence of mining revenue being used to pay affiliate returns is provided. Nor is there any evidence of Mining Up using external revenue of any kind to pay advertised returns.
The only verifiable source of revenue entering Mining Up is new investment.
Using new investment to pay affiliates an annual ROI of up to 730% makes Mining Up a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dries up so too does new investment.
This will starve Mining Up of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.