Mind Capital claims to be an advanced system that generates returns from crypto-assets. The question is, is it legit or another scam? Since it operates in the cryptocurrency MLM niche, we think this is yet another fraud app.
In this Mind Capital review, we will show you proof that this software is nothing but a scam. Before showing you the evidence, you need to understand what kind of app this is and how it works.
What is Mind Capital?
Mind Capital is a trading software claim to be led by Gonzalo Garcia-Pelayo and a team of international “experts” in economics, technology, and mathematics. They claim to be an expert in crypto-fiat platform with several functions.
According to them, they use the advanced algorithm in trading. Mind Capital promises high daily average returns at 1.3%, with only $100 as the minimum deposit.
How does it work?
Based on what they have mentioned on their website, there are two ways to earn in Mind Capital. One is through the ROI commissions and the other through affiliate commissions. If you want to earn via their affiliated membership, you need to sign up to their page, provide the information required, and make the minimum investment of $40. Users can fund their investment through bitcoin and credit cards.
If you signed up as Mind Capital affiliates and paid through credit card payments, it is first converted to bitcoin. Also, the withdrawal is paid in bitcoin.
Why Mind Capital is a scam?
At the beginning of this review, we already mentioned that Mind Capital is a scam. We won’t tell you this without evidence. To support our claim that it is a scam, below proves what makes us think it is a fraud.
Illegal services – No valid license
What makes it illegal? It’s because Mind Capital is operating as an investment service without a valid license. If you ask a member to deposit money and promises a return on investment, the company needs to be regulated to make it legal.
Today, the CNMV has blacklisted this app and warned the public to stay away from it. If you are one of the victims of Mind Capital, some sites can help you deal with them and have your investment back.
Warned by Financial Regulatory Authorities
It is not just CNMV or Commission Nacional Del Mercado de Valores that warned the public against Mind Capital. Other organizations like CONSOB or Commissione Nazionale per le Societa e la Borsa of Italy and other regulatory authorities also release a warning against using the software. CONSOB is a government authority of Italy that regulates the country’s securities market. It makes sure that the trading site is regulated and safe.
Mind Capital is a Ponzi scheme. Members are required to pay $40 as a minimum investment. The money collected from the people will then be given to the earlier members as part of their profits. Since this scheme’s only source is the money they can collect from the new members, it is hard to sustain. There should be more money to be deposit than the amount withdrawn.
No actual trading nor real business activity is happening on Mind Capital. It is a scam, and people should stay away from it. If you see any positive reviews about the app, it is part of their affiliate commission scheme. To earn you need to write favorable reviews about the software.
With the CONSOB and CNMV considering them as illegal is enough proof that Mind Capital is a scam. Investors should not trust this app at all, as it will only steal your hard-earned money. You can search for a trusted and regulated broker if you want to try trading online. Look for honest comments and reviews about the app so you will not get victimized. There are many risks involved in trading online, so make sure you understand them before investing real money. Ask the help of the expert if you are not sure.
▷ Meet one of the most dangerous scams: Bitcoin Champion.
Is Mind Capital safe?
Authorities have released warnings, never trade using this Ponzi scheme scam, or you will be sorry. There could some groups that will help you get your money back, but not all are successful.
When can I withdraw my profits from MindCapital?
We don’t know what the reason is, but according to them, they can process your withdrawal request 90 days after depositing it in your account. No legitimate exchange would do this as most of them would take only a few days to process your withdrawal. Others can release it within 24 hours.
How much can I earn with Mind Capital?
Mind Capital promised its customers an ROI that ranges from 0.5% to 1.5% per day, which is impossible to achieve. The cryptocurrency is not stable that it is impossible to maintain high profits daily.
⊛ Do you have any extra proofs? Please share them in the comments below ⊛