- in Not Approved by Caroline So
Virtual Mining Farm Review – CryptoMLM To Debunk Right Away!
Welcome to my Virtual Mining Farm Review!
The online business scene is teeming with various crypto networking companies and these bitcoins or cryptocurrencies have long been making a buzz in the industry. However, it’s not always easy to figure out which one is a scam or not, thus the point of this Virtual Mining Farm review.
Virtual Mining Farm Review Summary
Name: Virtual Mining Farm
Founders: Not Disclosed
Product Type: Multi-Level Marketing
Price: Free But Need To Invest Bitcoins To Have Earning Opportunity
Quick Summary: Virtual Mining Farm is a crypto-mining opportunity that is built on a multi-level marketing platform. It claims to offer crypto mining services that allow people to “mine” for crypto without having any hardware.
However, it seems that there’s really no mining going on. In this opportunity, you invest Bitcoin with the hopes of having ROI (return of investment) but apparently the program isn't paying people out. There are also no retail sales, no products or services. It’s one of those Ponzi Schemes you have to debunk right away!
Overall Rating: 1/10
In this post, we’re going to examine Virtual Mining Farm -- a crypto MLM that’s making a scene online. Is it legit or just another crypto-related scam, such as Ad.Doge.Com and Mining City? How does it work? Will it really provide a profitable opportunity?
What is Virtual Mining Farm About?
Virtual Mining Farm is a crypto mining opportunity built on multi-level marketing (MLM) business model. It’s an opportunity where you invest Bitcoin to earn more Bitcoin by mining. However, there’s no proof that mining is really happening here and also the company founder is not even disclosed.
Typical for a scam.
According to the whois database, the website was created on October 21, 2017, and was last updated in February 2019 and is addressed in Panama. With a lot of important details in hiding, something is really skeptical about this opportunity.
According to their website, their features are as follows:
- Free 100000 GHS Token
- Virtual Mining
- Earn 5% Monthly
- Full Refund
- Real Bitcoin Difficulty
- No Maintenance Fee
- 25% Affiliate Bonus
- Instant Withdrawal
According to their Terms and Conditions on their website, it says there: “This Agreement shall be governed and construed by the laws of the British Virgin Islands. However, the British Virgin Islands has a scam-friendly jurisdiction with little to no active regulation. It is highly unlikely Virtual Mining Farm has any actual business operations there.
Virtual Mining Farm is mainly marketed across Central and South America, such as Venezuela, Mexico and Cuba but upon checking, it’s not registered in these countries.
And also, there's an almost identical scam being run in Thailand called Crypto Mining Farm.
As you can see, it’s like the format of Virtual Mining Farm’s landing page except for the color. Even the names of the companies are the same as well. Apparently, Crypto Mining Farm is already investigated by authorities in Thailand for defrauding money from investors.
Virtual Mining Farm Product Line
Virtual Mining Farm has no retailable products or services offered but as a Virtual Mining Farm affiliate, what you are really able to market is the Virtual Mining Farm affiliate membership itself and the passive ROI it offers.
Is Virtual Mining Farm A Scam?
From the founder undisclosed and to no retail sales, there are indeed a lot of red flags about this opportunity.
Though they may claim that you can gain through mining bitcoins but without any evidence or proof and no physical products and services offered, apparently income will solely be dependent on the investment of recruited affiliates. It’s also not a Better Bureau Business (BBB) accredited opportunity.
Being a passive earning opportunity, it’s also not properly registered. So, it’s definitely a crypto scam!
Is Virtual Mining Farm A Pyramid Scheme/Ponzi Scheme?
Virtual Mining Farm works like a pyramid scheme rather than a legit networking company. There are no retailable products or services offered and what is really promoted is the affiliate memberships.
Again, there’s no proof of mining so we can’t be so sure if it’s really happening. Obviously, recruitment is going to be the only way to make money, thus a pyramid scheme in disguise.
The unfortunate thing about the Ponzi scheme is, other than being illegal in many states and countries, it’s not stable. Once the recruitment seizes, there’s no other option to make money and as a result, the company might shut down, with or without paying its members.
To learn more about Virtual Mining Farm, you can watch the video below:
Virtual Mining Farm Compensation Plan
Being an affiliate in Virtual Mining Farm, you’ll invest bitcoin with the promise of daily returns.
However, exact amounts or even estimates of daily returns aren’t provided on Virtual Mining Farm’s domain website.
The minimum investment is not as well specified.
Since there are no retail products and Virtual Mining Farm is actually more of a security or a passive income opportunity, basically you’ll earn through:
- The promised ROI you get for investing
- Recruiting people in the company through your affiliate link and growing a downline
Virtual Mining Farm pays referral commissions on initial investment and residual commissions on withdrawals, both on a unilevel compensation structure.
In a unilevel compensation structure, an affiliate is placed at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team. If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on down a theoretically infinite number of levels. Virtual Mining Farm caps payable unilevel team levels at 30.
Referral Commissions - The additional income earned comes upon recruitment of affiliates and that these affiliates make a bitcoin investment too. Remember, you can only earn commissions, once you make an investment. Once your personal team members start to recruit people, you can earn a percentage of your downlines investments.
Referral commissions paid on bitcoin invested across these thirty levels are as follows:
- Level 1 (personally recruited affiliates) – 10%
- Levels 2 to 30 – 0.7%
Residual commissions are earned starting on the 2nd month or 2nd investment and all investments that affiliates personally recruited members make and downlines make. The residual commissions are capped to a 5 level unilevel compensation plan.
Residual commissions paid on withdrawal requests across these five levels are as follows:
- Level 1 (personally recruited affiliates) – 20%
- Levels 2 to 5 – 0.5% to 5% (exact percentages not provided)
Direct Commissions - For anyone the affiliates personally recruit into Virtual Mining Farm, they will earn 10% from their investment amount. There are additional levels that they can earn direct commissions on which include 30 levels deep. On levels 2 through 30, they will be able to earn 0.7% on all new investments.
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How Much To Join Virtual Mining Farm
Joining Virtual Mining Farm affiliate membership appears to be free but to fully experience compensation plan commissions and the income opportunity it offers, affiliates should have bitcoin investments. However, there’s no minimum investment value provided on their website.
Everything about is unlikeable. Why like an opportunity that is deceptive in many ways? It’s clear that it’s a Ponzi Scheme so don’t get fooled no matter how enticing the claims are.
No Owner Information
Virtual Mining Farm provides no information on its website about who owns or runs the company, and this alone can be a major red flag.
Some scams will have a fake owner but Virtual Mining Farm did not even bother putting such.
Not only are they not transparent with this but other pertinent dates, such as a definite amount of investment was not provided.
As always, if an opportunity is not openly upfront about who runs or owns it and if there is no other basic information provided, it’s best to ignore this kind of program immediately.
Most of the time they don’t provide names so that when things go wrong, it’s easier for the people behind to hide to avoid getting sued or blamed.
Probably A Part Of A Larger Scam Network
As mentioned, it’s identical to another crypto mining farm, which has defrauded billions and is already investigated by governing authorities in Thailand.
The scheme is exactly the same as Virtual Mining Farm except that Virtual Mining Farm is targeting Central and Southern America. Considering that, it’s best to be aware or better yet, don’t give this kind of program any chance to steal your money.
Since this is a passive income opportunity, laws are requiring to register such opportunities to be considered operating legally.
Well, Virtual Mining Farm may have been operating legally in the British Virgin Islands, which appears to have a scam-friendly jurisdiction. However, Virtual Mining Farm is mainly targeting countries, such as Venezuela, Mexico, and Columbia.
Without proper registration, they are probably committing securities fraud. Therefore, as an affiliate promoting this, you might as well get in trouble.
Virtual Mining Farm is likely scamming millions from people. You could probably foresee it would face a big lawsuit any time soon and might as well shut down for good, just like other crypto scams.
A Ponzi Scheme
Virtual Mining Farm works very much like a Ponzi scheme, and schemes like this are definitely fraudulent in any way.
Failure is 100% certain all of the time because when recruitment slows down, so does the income. Eventually, people lose all of their investments, so it’s definitely a waste of time and money.
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Joining as an affiliate in Virtual Mining Farm, you’ll have access to their back office and probably with resources, you’ll need. Their website is as well equipped with FAQs you could use as a reference. They may claim to be an anonymous service, which is alarming and the only way to reach them is via email.
In closing, Virtual Mining Farm is one of those crypto MLM scams to watch out!
You can’t trust anything about it. You may be enticed with the opportunity to have ROIs from your bitcoin investments but don’t be fooled into a pit of losing all of your money. Don’t dig your own failure.
Companies like this have probably scammed millions from people, so don’t include yourself with these people who are probably in great regret right now.
Virtual Mining farm has no owner disclosed and it’s not even registered to sell securities -- so it’s operating illegally!
Like a pyramid scheme, it’s gonna be unsustainable and is on to the road of destruction.
It will collapse anytime soon and probably shut down for good. With all the red flags, it’s best to ignore this program at all costs.
Scams are rampant nowadays so it’s good that you’ve decided to read reviews first, such as this one. Earning money is indeed not easy so if the opportunity sounds too good to be true, that might be because it is!
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Anyways, thank you for reading my Virtual Mining Review! You’ll probably now know that it’s not gonna be worth your time. So, I do hope you try what I recommended. Have a great day!