Mining City is allegedly a digital currency mining company. Unfortunately, this is another pyramid scheme in the market that is after clients’ money. The platform states that they are VIP customers of BTC.com.
Sadly, we could not verify their claims. They claim that they host over 20,000 miners. The company has bogus information on its website that does not mean much.
They do not clearly state what they do. Miningcity.com allegedly is a firm that wants to link together investors who want to increase their opportunity to mine BTC.
The company assures investors they will handle all the maintenance costs as thy provide mining power and manage technical issues. All they need from investors is for them to deposit the funds and wait to receive the profits.
Sounds easy, right? Unfortunately, Mining City does not create credibility with their clients. The platform does not provide any evidence that can ascertain they are indeed involved in BTC mining. It would help if you ventured with legit mining companies is you want to make returns.
Mining City guarantees its clients that they will have the best experience is that they invest with them. Using BTC.com, you will have secure and stable mining activities. The company does not state where their mining farms are located or their data centers.
The platform only claims involvement in mining, but their winning rates and draw down remain unknown to their clients if you invest with the platform you at high risk of losing your money.
Miningcity.com has been in the market for the longest time possible. Unfortunately, they don’t feature information showcasing their accomplishment. Additionally, the platform does not have performance reports.
It is crystal clear that the firm has no product or services to offer small scale investors. They allegedly offer the return within 1100 days. The least amount that you can invest is $500, that is pretty much, and not many can afford it.
The more you invest, the higher the returns that you can attain. Miningcity.com has a lucrative affiliate program. The majority of these pyramid schemes target newbies who do not know how the industry works. It is tough to find experience traders wasting their time in an entity like Mining City.
Despite the pyramid scheme being in the market for years, they lack reputation. The red flags should not be taken lightly. You should invest only in transparent companies.
The CEO of the platform is Gregory Rogowski. We searched for the CEO on LinkedIn, and he allegedly comes from Poland. It is the first MLM company that he has worked as an executive.
He has a master’s degree in marketing from the University of Warsaw. However, there is no link to him having any experience in mining. Gregory is also the owner of Phophetek, which he established in 2018. There is a link between these two companies.
Miningcity.com Contact Information
To contact customer support, you will have to fill out their contact form before you invest in any company you need to ensure that they have excellent customer support services.
Miningcity.com is operating in a shady manner as they have not featured any contact details. Their operation center remains anonymous. Additionally, they have not put up their telephone number or email address.
Legit mining companies provide all this data to their clients to create transparency. The only reason the company is operating in this manner is to avoid the law catching up with them. The possibility of the shady firm contacting you after you fill up their form is very slim.
Mining City Regulation
Mining City is a platform that is operating illegally. To collect funds from the member of the public, the law requires a company to have a license. In their website, they have not features a registration or a licensing document.
Additionally, the financial watchdogs in the industry require investment companies to segregate funds of their clients. They also have to put a certain amount besides so that in case they undergo bankruptcy, investors will not lose their funds.
Since the company appears to be based in Poland, they should be licensed by the Polish Financial Supervision Authority, something that they have not done. Furthermore, one of their targeted audience locations in Japan, and we checked on the database of the Security Exchange Surveillance Commission (FSA), but Mining City was not on the list.
Considering this company has no term and condition on its platform or an FAQ page, it will be hard to convince us they are a severe investment mining entity. It would be best if you did not venture with firms that are not licensed as they may change their term of services.
Moreover, they might exit the market without your knowledge, and it will be hard to track them down. You also risk sharing your data with scammers.
Withdrawal and Deposits
Mining City does not disclose the minimum amount that you can cash out from their system. Additionally, the mode of the payment that they accept is not clearly stated, although we highly suspect they accept BTC payment.
With Bitcoin, you cannot be able to track down the deposited amount. Neither can you reverse the funds? You will make the payment directly into the scammers’ wallet. Considering Mining City has not provided any financial institution detail refrain from trusting them.
They also do not have DDoS or SSL certificates, which means that hackers can quickly attack them. The clients are the ones who will suffer the most.
Is Mining City Legit or Scam?
Mining City has shady characters that do not create confidence with investors. First of all, the platform is not regulated. We all know the risk of venturing with companies that are not licensed.
The platform does not also offer customer support services or disclose their location. What with all the anonymity if at all they are a legit firm? MinerBest LLC allegedly hosts Mining City miners.
We cannot help but wonder why the company is not having a review from investors who have already ventured with them. If indeed their system is a top-notch entity, then people would be flocking in their website.
Mining City claims that they rent clients’ hash power. Hence, they are not security investments. Well, why have they not made it clear on their website for those interested in investing with them to understand?
The official domain name of this platform is miningcity.com. It was registered in August 2003, and the domain name will expire in the same month the year 2020. The information regarding the owner is hidden from the public.
According to Alexa.com, the platform has a very high global ranking. They have a total of 11,149 traffic coming to their website. They target audiences from South Africa, Colombia, and Japan.
Mining City Final Verdict
Mining City is an illegal mining company that only claims that it will offer users vast returns. Unfortunately, if you venture into this shady entity, you will only end up losing money.
They have no intention of making any investor rich. Stick to cryptocurrency mining companies that have a history in the market. Despite the platform displaying their CEO on LinkedIn, there are a lot of answered questions. Avoid Mining City at all costs.