If you are reading this, you have been doing research and asking yourself, is Mirror Trading International a Scam? In this review we have done research into this new cryptocurrency business to determine if it is a legitimate business opportunity.
I will share with you all I have discovered about the company and whether it is worth investing in or if it is a scam that you are better off avoiding.
Mind Capital Review Summary
In short, Mind Capital is a cryptocurrency MLM (multi level marketing) scheme that is presenting itself as a trading platform. As an investor, you will be expected to invest your money in return for the tokenized currency, known as MCCoin. This is not a cryptocurrency, but just a made up internal currency that is just a token.
Mind capital promises prospective investors returns of up to 1.8% per day or up to 18% a month, which is a lot higher than you can realistically expect from any investment in any market. The main way to make money is by recruiting other people onto the platform.
It is the classic pyramid scheme and you are likelier to lose money than make any of the unrealistic returns that they are claiming. There are better and legitimate ways to make money online.
What Is Mind Capital
Mind Capital is a cryptocurrency based investment scheme that calls itself the world’s first real and transparent crypt-fiat platform with integrated blockchain. As lyrical as that sound, what it means in plain language is that they use blockchain technology to trade between cryptocurrency and fiat currency (normal money as we know it)
The company is located in Madrid, Spain and is fronted by Gonzalo García-Pelayo who is a retired music producer and film director from Spain. Gonzalo has a history in the entertainment history as well as exposure for having beaten roulette casinos back in 2006.
The platform went live on the 11th of January in 2020 after being in pre-launch for 3 months.
How Mind Capital Works
To sign up for Mind Capital, you simply have to go to their website and create an account by filling in the registration form.
Once you are part of the platform, you have to make an investment of at least $100. This then makes you eligible for the MLM aspect of the platform where you will earn a percentage of the earnings that your referrals make.
Mind Capital say that the make money through the use of AI algorithms that execute buying and selling at optimal moments. In other words, they use bots to trade on cryptocurrency exchanges. Which cryptocurrencies they trade, and on which exchanges they operate is unclear, and there is no information that sheds light on any of this.
The primary promoted revenue source inside the platform is the referrals system or multi level aspect of the platform.
You earn a percentage of your referrals in a sliding scale.
The people that you personally recruit onto the system are what is referred to as your Level 1. Any investment made by these people, you will get 8% commission.
If your Level 1 recruits recruit their on people onto the system, those people become your Level 2, and you get paid 4% of whatever investments they make into Mind Capital.
For your Level 3 and Level 4 recruits, you earn 3% commission, on the condition that all of your recruits together invest at least a combine value of $5000.
For every from Level 5 and higher, you will earn the floor commission rate of 2%. In order of you to be eligible for the commission, there has to be a minimum total contribution that varies from $15,000 all the way up to $100,000.
How Do You Make Money With Mind Capital?
The claim made by Mind Capital is that they have sophisticated AI bots which trade cryptocurrency and whatever profit is made from those trades is paid out to members. There is no proof of any of these external sources of revenue though.
The way that members make money is through the recruiting of referrals into the system. Each referral will have to make an investment, and that investment becomes a funding mechanism to pay other members.
To make this work, you have to be willing to recruit a lot of people into the platform so that you can earn commissions on the investments that they, and perhaps their referrals will be contributing to Mind Capital.
While they say that their members make handsome daily profits through the AI bots that do the trading for them, we have not found any evidence of that. Most of their marketing is based ion
So What Do You Own?
When you participate in Mind Capital, you are contributing capital to a system that invests in different crypto asset, but you are not acquiring cryptocurrencies as such. You acquire the right to collect the daily return obtained by your contribution.
In other words, all you are doing is buying the MCCoin that is the internalized token system at Mind Capital. You are giving Mind Capital your real cash or cryptocurrency, in exchange for the token coin that they have created. You cannot sell this token anywhere else outside of the system and the only way you can get your money out if you change your mind is if Mind Capital agrees to by the MCCoin back from you.
No Track Record – Gonzalo García-Pelayo is the key person for the company and the face of all of their market. He has no demonstrated history in cryptocurrency so it doesn’t make a lot of sense for him to be heading a cryptocurrency business. My guess is that he is just the face of the company and serving as the front man because of his fame from other areas.
Unrealistic Daily Returns – If you have done any trading in your life you know that no investment in any market has guaranteed returns. Any investor who knows his way around knows that a good return on investment is in the region of 15% per year. Mind Capital claims to do more than that in a month. 25% per year is considered aggressive and even suspicious so if someone tells you they can get more than 100% in a year, they likely just want to take your money and run.
No Underlying Asset – As mentioned in on the Mind Capital FAQ, there is no real asset involved in this process. Even though they say it is cryptocurrency based, you do not own any cryptocurrency by investing. Instead, what you are doing is giving Mind Capital your real money for their made up money. It’s no different to exchanging real cash for Monopoly money.
New Company Making Big Claims – At the present moment, Mind Capital is less than 6 months old and yet they are promising returns far beyond what any established investment platform can offer. The company being new is not an automatic proof of fraudulence, but you should definitely pause to assess whether what is on offer is legit
Is Mind Capital A Scam?
Mind Capital is a MLM scheme parading itself as a cryptocurrency / blockchain trading platform. You don’t invest in anything outside of the tokenized currency that is internally generated by the owners of the company. While they say that there is trading taking place, as an investor you have no control over what happens with your money.
While they say that their members make handsome daily profits through the AI bots that do the trading for them, we have not found any evidence of that. Most of their marketing is and information about the company revolves around the CEO’s history in other fields which are not in any way relevant to the Crypto market. It is likely that the company is actually managed by other people and Gonzalo is put up as the front man because of his fame in those other areas.
Mind scheme has the classic characteristics of a ponzi scheme and you are better off avoiding it if you don’t want to run the high risk of losing your money.
What is a better way to make money?
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It’s by far the best place to learn how to make money online and you should give it a look.
What have your experiences been with Mind Capital? If you have your own story to share, good or bad, or have any questions about the program, let me know the comments below.