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Is Mind.Capital A Scam? Crypto Trading Investment MLM Uncovered!
Welcome to My Mind Capital Review!
Online business opportunities are teeming the world wide web. Starting from those with physical retail products up to those selling membership platforms, and now this so-called cryptocurrency investment.
Mind.Capital Review Summary
Founders: Gonzalo Garcia Pelayo
Product Type: Multi-Level Marketing
Price: $100 to $100,000 For The Investment
Quick Summary: Mind Capital is a business opportunity with a cryptocurrency trading investment scheme that is built on a multi-level marketing platform. However, with the owner’s bad reputation, it’s better to think twice before joining this opportunity plus the other issue I’ll lay bare later.
Another red flag is that they don’t have retail products that make it more of a pyramid scheme instead of a legit networking company. Other than that are the recent illegal issues against the company so it’s best to take time reading this review before you decide.
Overall Rating: 1/10
Often, these Bitcoin-related companies promise quick ROI that is undeniably enticing but unfortunately, most of these businesses have a bad reputation.
Could Mind.Capital be the same?
Let’s find all the important things you need to know about this crypto trading business to help you decide if this is a good opportunity or not.
What Is Mind.Capital About?
Mind Capital is a multi-level marketing (MLM) company that comes with an offer of a promised daily ROI.
It claims to be the world’s first crypto-fiat platform with multiple functions. According to the brand, it uses advanced algorithms to trade profitably but yet, the company pays out returns by using Bitcoin.
The name mentioned behind Mind Capital was Gonzalo Garcia Pelayo, who is known as a gambling expert. He’s reported to be good at beating the roulette table but other than that there are no relative MLM experiences or associations with any MLMs.
Upon further digging, it is indeed true that what Mind Capital says about him as a gambler.
However, he has nothing to do with Mind Capital and he doesn't even know that it exists. The same goes for the rest of the alleged team behind Mind Capital, they don’t have anything in common with it!
It's almost the same as Virtual Mining Farm, which is a scam, by the way.
So which is which? Who really owns and runs this company?
Mind Capital is based in Madrid with offices but with no address listed. The website domain appears to be created on July 16, 2014, and was recently updated last April 28, 2020. Well, that’s the only info I got from whois, other data were redacted for privacy. Something’s definitely mysterious about this company.
Mind.Capital Product Line
MyMoneyIndustry has no retailable products and services. What is offered is the promise of a daily ROI through investments made. Obviously, the only thing that the affiliates are selling is the membership itself.
Is Mind.Capital A Scam?
Since Mind Capital is a crypto trading investment scheme, let’s touch a bit about investing in trading.
Mind Capital comes with the claim of 1.3% ROI per day, which means 39% monthly and that sums up to a big amount. It is indeed a very tempting number that could lure you in an instant because, with nearly 40 % a month, you would definitely get rich pretty quickly.
But in reality, such returns are possible only in a year and definitely not every month. I believe even expert traders could attest to that.
Also, we all know that there’s no such thing as quick cash so if there’s a claim like this, it’s most likely a scam.
Other than this, let me just remind you how the brand has used Gonzalo Garcia Pelayo as the owner when he doesn’t even know about the company.
Also, as a company that offers financial service, it operates illegally as Mind Capital has no license or whatsoever to prove its authenticity. Just recently, in an article published in July 2020, there was an issued order to stop promoting this cryptocurrency scam Mind Capital in Texas.
I wonder how they got this long since 2014 but at least now they have caught the attention of some governing bodies.
To learn more about Mind.Capital, you can watch the video below:
Is Mind.Capital A Pyramid Scheme/Ponzi Scheme?
Based on how it works and all the misleading details it has, it’s obviously a Ponzi scheme in disguise.
Like most crypto investment MLMs, Mind Capital has no physical retail products. And since there's no products or services offered to earn real revenue, income would come from recruitment and that would be the only source of revenue.
Apparently the pool of the income in Mind Capital is from the investments made by the recruits, thus a pyramid scheme.
In these kinds of schemes, people will be motivated to recruit as recruitment is hyped and incentivized. But if there’s no more to recruit, schemes like these are bound to fail.
Mind Capital is an obvious Ponzi scheme. It collects money from affiliates and it redistributes some of it on profits. Schemes like this need more money to be deposited than money is withdrawn and this scheme is illegal.
Apparently, in Mind Capital there is no real trading going on, no real business activity, just a deceptive claim to lure people into the scam. Schemes like these quickly run out of money because such platforms are unsustainable and are bound to fail collapse.
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Mind Capital Compensation Plan
Being a company built on an MLM platform, basically, you’ll earn money through passive income through your investment and by recruitment commissions.
- ROI Commissions
- Recruiting Commissions
ROI Commissions - In order to make the most amount of money, you must invest. Then, you will be able to start earning a promised ROI that the Mind Capital offers. The minimum investment is at $100 or invest as high as $100,000.
The company says that they will pay you between a 0.05% to 1.5% ROI. As discussed above, 1.3% per day ROI means 39% monthly and that’s gonna be a big sum of money!
Recruiting Commissions (Unilevel) - The MLM commissions you’ll earn in Mind Capital are tracked and paid using the unilevel compensation plan structure. And this is how it works:
- The 1st level will only hold your personally recruited members on it.
- The 2nd level of your unilevel compensation plan will only hold your team members that your level 1 personally recruited members.
- The 3rd level of your unilevel compensation plan will only hold team members that your level personally recruited on it. And so on…
With that said, the company has a total of 10 levels that you can get paid on and every level has a different percentage amount earned from the investments that their downline makes into the company.
Here’s a run-through of what each level will pay:
- Level 1 – On this level, you can earn 8% of all of your level 1 or personally recruited member’s investments.
- Level 2 – On this level, you can earn 4% of all of your level 2 member’s investments.
- Level 3 and 4 – In order to qualify to get paid on these levels, you must generate at least $5,000 with your downline investments. Once you qualify, you can earn 3% of your member’s investments on these levels.
- Level 5 and 6 – In order to qualify to get paid on these levels, you must generate at least $15,000 with your downline investments. Once you qualify, you can earn 2% of your member’s investments on these levels.
- Level 7 and 8 – In order to qualify to get paid on these levels, you must generate at least $50,000 with your downline investments. Once you qualify, you can earn 2% of your member’s investments on these levels.
- Level 9 and 10 – In order to qualify to get paid on these levels, you must generate at least $100,000 with your downline investments. Once you qualify, you can earn 2% of your member’s investments on these levels.
How Much To Join Mind Capital?
To join Mind Capital’s money-making opportunity, you have to make an account first.
After signing up, you officially start as an affiliate by investing money with a minimum of $100 and can go high as $100,000.
In my honest opinion, there’s nothing likeable about Mind Capital and what it offers because it’s clearly a scam! I couldn’t even find something commendable or good about it because it’s an obvious pyramid scheme in disguise.
Not License/ Registered
One major red flag is that Mind Capital, as an investment service (as you invest money with the promises of returns) is not licensed or registered. In simple terms, it is illegal. I don’t know about you but I wouldn’t put my money here no matter what it claims.
Order To Stop
Texan authorities have already issued an order to stop illegally promoting cryptocurrency investment pyramid schemes in Texas. With such deceptive claims, Mind Capital is on the list. Texas-based Securities Commissioner Travis J. Iles has brought an emergency action to stop Mind Capital from illegally promoting in Texas.
There is also another legal issue against Mind.Capital because of being illegal.
Probably A Fake Owner
They openly state that Gonzalo Garcia Pelayo is the owner but upon further investigation, it appears that this guy is indeed a gambler but has no associations to any MLMs including Mind Capital. He doesn’t even know this company exists. Indeed, some scams opt to have a fake owner to hide their real agenda.
A Pyramid Scheme
As discussed, Mind Capital is more like a pyramid scheme. All the claims are empty as this modus is utilized to lure people into the program and let them invest and scam money from them.
Such schemes are unsustainable and bound to fail. It’s a surprise it’s still operating up to this date but we could already see some states taking action against it. Probably, you could predict it collapse or shut down shortly.
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Mind Capital has a large training video library where you can obtain all the necessary materials and resources. FAQs are available on the website as well. Technical Support service is available 24/7.
In closing, I would not recommend you to join this money-making opportunity Mind Capital offers. Why? Because first and foremost it is a scam.
It operates illegally as it is not registered and licensed plus it is a pyramid scheme. It would be an expensive investment that would end up eating all your money. So don’t be enticed with their captivating ROI that would make you think you’ll get quick fast.
Don’t buy into the idea of easy money because most of the time it is just an empty promise and a deceptive claim.
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Anyways, thank you for reading my Mind Capital Review!