Mining City is a bitcoin mining company that emerged in 2019. It became very popular in a short period of time because MiningCity.com promotes the platform as the world’s most successful mining community.
However, Mining City has been involved in a number of controversies and investigations due to securities fraud. Despite such controversies, the company managed to keep operating in the crypto industry.
Therefore, it is important to review this company in detail to determine whether it is capable of providing any significant profits.
Overview of Mining City
Mining City is claiming to be a global crypto mining company that has access to massive hash power for mining procedures. MiningCity.com states that the company has an extensive mining community. It entices users to invest in the company by claiming that people from all over the world trust the company because it has the experience and modern tools and technology.
At first, MiningCity.com did not give any details about the owner of the company. However, the website was updated, and Grzegorz Rogowski is stated to be the CEO of Mining City. According to Rogowski’s social media profiles, he lives in Poland.
Therefore, it is possible that Mining City is also running out of Poland. The work history of the owner of this company also shows that it is his first venture in the crypto industry.
MiningCity.com was first registered in 2003. However, the site did not become active until 2018. The analysis of the website shows that Japan (50%), South Korea (25%), and Vietnam (13%) are contributing the highest amount of online traffic to MiningCity.com.
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The marketing of the company further complicates its history. It is not clear that whether the company is operating from Europe or Asia. The CEO of the company lives in Poland. Hence, if the company is running from Poland, it is still mainly targeting the Asian countries.
How to Register at Mining City?
Mining City is asking for a very large amount of at least $500 from the initial members. In fact, MiningCity.com is encouraging users to invest as much amount as they can between the range of $500 to $1500.
This is a huge amount, especially when you consider the fact that there is no guarantee that Mining City will be able to provide any significant profits to you. MiningCity.com also states that the actual investment will be made in bitcoin.
MiningCity.com provides the following four packages:
- The standard Package costs $500.
- Bronze Package costs $1000.
- Silver Package costs $2000.
- Gold Package costs $3500.
You should not be investing this kind of amount in a platform like Mining City that cannot provide guaranteed profits. Therefore, it is highly recommended that you invest in reliable and legit crypto cloud mining companies. These companies provide legal and efficient mining services to help you generate a good amount of profits.
Income Structure of Mining City
As discussed in the previous sections, Mining City is claiming to be a bitcoin mining platform. Yet, the business model of MiningCity.com revolves around affiliate memberships and daily profits. This kind of business model is similar to any other crypto Ponzi scheme.
Let’s discuss the income structure of Mining City in detail.
Mining City is asking users to invest in the company to get daily profits. The website states that the affiliate members will be getting daily profits over the period of 1100 days.
As a result, MiningCity.com is encouraging users to invest as much money as they can to generate a high amount of profits. Keep in mind that you will have to invest at least $500 to qualify for any of these commissions.
There are a total of 5 affiliate ranks in Mining City. The income structure of the company heavily relies on these ranks to promise profits to the users. These ranks are:
- Citizen Rank in which an affiliate has to register and invest in the company.
- City Builder Rank in which an affiliate has to hire at least five members on the Citizen Rank and make $10,000 in total investment.
- City Developer Rank in which you have to maintain five affiliates and earn $50,000 in total investment.
- The City Manager Rank in which you have to maintain five affiliates and earn $250,000 in total investment.
- Chief Manager Rank in which you have to maintain five affiliates and earn $2,000,000 in total investment.
Referral commissions play an integral role in the income structure of Mining City. These commissions are often used by the Ponzi scheme to gain investment from the affiliates and earn money before their imminent collapse.
MiningCity.com provides complete information about the referral commissions. These commissions are also based on the affiliate ranks of the company:
- Members of the Citizen Rank receive a 5% referral commission up until ten levels.
- Members of the City Builders Rank receive a 5% referral commission up until 15 levels.
- Affiliates of the City Developers Rank receive a 5% referral commission up until 20 levels.
- Members of the City Managers Rank receive a 5% referral commission up until 30 levels.
- Affiliates of the Chief Managers Rank receive a 5% referral commission on all levels.
Features of Mining City
There are many different features that Mining City is claiming to have to attract more people and investment. Some of these features are:
Mining City is presenting itself as a highly successful and reliable platform that can provide a massive amount of profits. However, the business model of the company indicates that it has nothing to do with actual crypto mining procedures. Instead, the company is relying on the investment of the users.
MiningCity.com provides information about a thorough income structure of the company to seem like a legit crypto mining platform. However, there is no guarantee that it is capable of providing such profits.
Affordable Mining Plans
One of the most shocking claims of Mining City is that it is providing ‘affordable’ crypto mining plans. The website states that the company’s motivation behind such plans is to make sure that everyone is able to enjoy the benefits of crypto mining.
However, this is a completely false claim due to the fact that the company is asking for at least $500. It is a huge amount for a platform like MiningCity.com that has been involved in a number of legal controversies.
All of the factors discussed in this article point to the fact that Mining City is not a feasible investment opportunity. You cannot trust its claims of being a highly profitable platform. Instead, there is a very high chance that the company will collapse soon and you will not make any profits.
Moreover, the legal issues associated with MiningCity.com cannot be ignored. In 2020, it was revealed that Mining City is a fraud because it has not been registered with SEC. Similarly, other organizations have investigated the company for lack of compliance with legal rules and regulations.
Even if you look at the income structure of the company, you will see that there are no major earning opportunities in the company. It is possible that you might get some small profits from the company. However, they will not be enough to recover your initial investment.
Therefore, you should avoid investing any money in Mining City because you cannot make a good amount of profits from it. A reliable alternative to such Ponzi schemes is the crypto mining companies. These companies have been operating in the industry for a long period. As a result, they are capable of providing profits quickly and easily via crypto mining.