Website Review : SCAM or LEGIT?

Miningcity.com Review SCAM or Legit?

Scam
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Miningcity.com Review SCAM or Legit?

Summary

User management: Hyip script/Standard template
Company transparency: Not Legit
Payment options: BTC, ETH, LTH, XRP
Affiliate: N/A
Reward type/share/pool: N/A
Cost electric power per TH/day (BTC): N/A
Contract price: $19.69 USD  
Earning return: 144% 

Sending
User Review
0 (0 votes)

Status: SCAM-PROJECT
(classified as PONZI)

Miningcity.com Review SCAM or Legit?

Busted

WARNING! Miningcity.com is officially blacklisted on the SEC as a Ponzi theme and you can be criminally charged promoting it. This is a Warning to all members and needs to be taken seriously.

pros

  • None

cons

  • SEC Blacklisting as Ponzi – Warning!
  • Limited information about the company 
  • Only two crypto options available for payments

Red-Flag Score

  • Company registration: Y
  • Address: Y
  • People identity: Y
  • Script/code: Y
  • Design: Y
  • Profit return: Y
  • Onsite statistic process: Y
  • Payment processors: Y
  • Video/Images of facilities: N
  • Registered on HYIP Monitors: Y

SCAM SCORE = 3/10

STATUS: SCAM-PROJECT 

Company

Overall, Mining City provides very limited information about the company on its website. But we did find some information through other means like the domain was registered in 2003. It got updated in 2018 and it means the current owner must have got possession of this domain in 2018. 

We also found out that the domain owner’s address is registered in Cyprus but the address is incomplete. Mining City also has a social media presence and we found that they also have an official YouTube channel. Greg Rogowski is the founder of Mining City. He also has a LinkedIn profile. We got to know from his LinkedIn profile that he is the founder of Prophetek. This company seems to be the parent company of Mining City. 

No other valuable information is available on the website and neither is it available through a third-party website.

Plans

The company offers three types of coins to mine under their mining plan. These are:

  1. Electric Cash
  2. Bitcoin Vault
  3. Bitcoin

The cloud mining plans of Bitcoin and Electric Cash is available for a duration of 1100 days. When it comes to Bitcoin Vault, the duration is 1200 days. Other than this all plans have similar features across categories. The plans as following:

Primary

  • Cost: $300
  • Start after 10 days
  • Plan Hashrate: 3.0 TH/s

Standard 

  • Cost: $600
  • Start after 10 days
  • Plan Hashrate: 6 TH/s

Bronze 

  • Cost: $1200
  • Start after 10 days
  • Plan Hashrate: 12 TH/s

Silver 

  • Cost: $2400
  • Start after 10 days
  • Plan Hashrate: 24 TH/s

Gold 

  • Cost: $4200
  • Start after 10 days
  • Plan Hashrate: 42 TH/s

Platinum

  • Cost: $12,600
  • Start after 10 days
  • Plan Hashrate: 138 TH/s

Conclusion 

Mining City is a company that offers cloud mining plans to their customers. During our research for Mining City Review, we found that their target market is the Asian region and that’s where most of their traffic comes from. Mostly from Japan, South Korea, and Vietnam. This can also be confirmed from their social media profiles including their YouTube channel.

Overall, the company has not provided much information about who are the key personnel of the company. But we found information regarding the parent company behind Mining City through our research for Miningcity.com review. When it comes to their website, we did not really find it impressive. Its home page lacks the finesse of a real and popular cloud mining company. 

During the course of our research, we found out that the SEC Philippines had warned the residents of the Philippines against investing in any of the plans of Mining City. Even CoinTelegraph has reported the news about SEC Philippines calling Mining City a Ponzi scheme. Even the Ontario Securities Commission has issued a warning against Mining City. 

As Mining City offers guaranteed returns to investors, they fall under the category of security. It means that they must have the necessary licenses from relevant financial authorities around the world. But the fact of the matter is that they have no such registrations. It is imminent from the number of warnings issued by regulators from countries such as Canada and the Philippines. We also did not find any mention of Mining City in any of the SEC websites of countries such as Japan, the US, South Korea, and many more. 

Due to lack of registration, the investors are very likely to lose their investments. As they are not protected under the rules and regulations of the respective countries. It’s because Mining City doesn’t have the necessary licenses to operate in any country. 

We rate Miningcity.com 1.0 out of 5.0 as they have put in some effort and its founder is also active on social media. But there’s no denying that Miningcity.com is a perfect definition of a well-crafted Ponzi scheme.

As a warning to all members. You need to know that since Mining City is on the SEC blacklisting of illegal Ponzi themes YOU can be personally criminally prosecuted by promoting Miningcity.com to any other person.

Disclaimer: @hashant has no connection to the sites we performed reviews and has not invested in any of the sites we perform a review on and we will never endorse or recommend you to invest in any of this sites. A review is made to help you find a good site among the many. Still, there are no guarantees that the site will perform well over time or are truly legal.

You can ask us to make a review on a particular website. To do so please leave a comment and the site URL on our suggestion page.
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