Minerift Review – Reported As An Illegal Ponzi Scam

I've been invited to join Minerift "to make daily profits". I visited the site and spotted some red flags right away. Sometimes if you spend a few minutes browsing a website, read between the lines and you can easily work out it's not offering a genuine business opportunity. If you've been looking to invest some money in cryptocurrencies and wonder if this site is the right one, unfortunately, it's most definitely not. My Minerift review will explain why this is the exact type of scheme that you should stay away from.

What Is Minerift?

Minerift.biz claims to "bring 4 of the most profitable and stable investment packages for all investors." But it does not clarify what the four options are, nor does explain the nature of the service. The homepage gives users the impression that it offers unmistakably profitable cryptocurrency investment options, but portfolio planning is never mentioned anywhere on the site.

This membership site was only created in April 2021, allowing anyone aged 18 or over to sign up for free, deposit any amount in the range of $20 to $50,000. The acceptable payment methods include; Perfect Money, Bitcoin, Litecoin, Ethereum, Tron, Dogecoin, Tether, and bitcoin cash.

Minerift offers a multi-level referral compensation plan, but without any core products or services to sell, it makes a business an illegal Ponzi scheme. Also according to UK Companies House, Minerift Ltd. is registered as a "computer game publishing" company, which seems to be wrongly described as the site minerift.biz is nothing to do with gaming or publishing.

Big-Talking, No Content

The problem with the Minerift site is, it's full of wordy, bombastic expressions throughout and never explains anything in the way users understand logically. For example, according to the FAQ page, the company's concept is "the prospect of a way to change common trading around forex and cryptocurrency our business is the face of the expansion of algorithms..." But the site doesn't seem to be anything to do with forex, and the rest of the sentence doesn't make sense at all. 

Some evasive expressions can be found, such as, "How long does it take for my deposit to be added to my account?" - "Your account will be updated as fast as you send your payment." It doesn't give you any rough idea, minutes, or days.

Unrealistic ROI

Minerift claims to pay 5%-11% profits "daily" for 40 days, depending on the level of your initial investment. 

It's not clear what the "40 days" refers to - whether your deposit will mature after 40 days or not, or what happens after the period. The FAQ page only says that you can withdraw your funds any time, "every hour even on weekends." The payout plan is as follows;

• "Curious Plan" - 5% a day (0.21% hourly) on the investment range $20 - $1,000
• "Glorious Plan" - 7% (0.29% hourly) a day on the investment range $1,001 - $5,000
• "Victorious Plan" - 9% (0.38% hourly) a day on the investment range $5,001 - $10,000
• "Luxurious Plan" - 11% a day (0.46% hourly) on the investment range $10,001 - $50,000

From the display of hourly rates, it looks like Minerift's interest will be calculated on the principal only, not compoundly. But still, you can see how it falsely claims high returns. For example;

• If you invest $100: 5% x $100 x 40 days + $100 = $300.
• If you invest $1,001: 7% x $1,001 x 40 days + $1,001 = $3,804.
• If you invest $5,001: 9% x $5,001 x 40 days + $5,001 = $23,005.
• If you invest $10,001: 11% x $10,001 x 40 days + $10,001 = $54,005.

Imagine you invest more than $10k and Minerift will grow it 5.4 times for you 40 days later? According to the terms, Minerift allows you to have multiple accounts. It means if you borrowed as much money from elsewhere - and I'm talking about millions of dollars - and invested it all in Minerift, you'd become a multi-millionaire within 40 days? You see the plan is ridiculously unrealistic and out of order!

Referral Compensation Plan

Minerift offers a 3-tier compensation plan. Unlike many other MLM schemes, you can become an affiliate without investing any money yourself. Instead, the commission rates are set pretty low;

• Level 1: 6% of your direct referral's investment
• Level 2: 4% of your 2nd downline's investment
• Level 3: 2% of your 3rd downline's investment

It encourages you to advertise your referral link to your "friends and colleagues" - but you can become a Minerift affiliate for free. This sounds pretty odd to me, as you can only recommend something you've proven yourself to people close to you. Unless you've really made such a huge profit from Minerift yourself (which is extremely unlikely), you wouldn't recommend it to your friends and colleagues.

Global Representative Scheme

When you have 5 active referrals, you can apply to become a "Global Representative", entitled to higher commission rates, starting;

• Level 1: 10%
• Level 2: 7%
• Level 3: 5%

The representative system itself has 11 levels of affiliate commission structure. If you've made a $5,000 commission in total, you'll step up to Level 2, where you'll start to earn 12%, 8%, and 6% respectively. Here's the matrix;

• Level - Commission Total - Level 1 - Level 2 - Level 3
• Level 1: Less than $5,000 - 10% - 7% - 5%
• Level 2: $5,000 - 12% - 8% - 6%
• Level 3: $10,000 - 13% - 8% - 6%
• Level 4: $15,000 - 14% - 9% - 7%
• Level 5: $20,000 - 15% - 9% - 7%
• Level 6: $25,000 - 16% - 10% - 8%
• Level 7: $30,000 - 17% - 10% - 8%
• Level 8: $40,000 - 18% - 12% - 10%
• Level 9: $50,000 - 20% - 12% - 10%
• All Star: $75,000 - 21% - 13% - 11%
• Hall Of Fame: $10,000 - 22% - 14% - 12%

Minerift Ltd.

According to UK Companies House, the company "Minerift Ltd." was set up in February 2021. Just one officer/director, 29-year old Robert Latcham is listed. The share capital is £1 ($1.40), which means that the company can easily be dissolved whenever it's in financial trouble and unable to pay its debts, and it won't cost Mr. Latcham more than $1.40.  

The homepage says that the company has "excellent liquidity to maximize profit-making ability", but that doesn't sound like the case from the filed description.

Can You Really Make Profits with Minerift?

Well, we all know that all investments involve some degree of risk. Especially the cryptocurrency market is volatile. But Minerift's homepage simply claims to make such huge daily profits. The reason is - again, with meaningless big words - Minerift "reveals exclusive developments", "distinguished, cutting-edge principles", "low latency connectivity"...you cannot find any valid explanations anywhere.

However, the terms of service page states (which I think, quite sneakily) that you could sustain a loss of your investment, therefore you should seek advice from a financial adviser. 

Your Money's Not Being "Invested"

Critically, Minerift is not an asset investment company. The site doesn't mention anything about reinvesting the users' deposits in a diverse portfolio. From the registration document, the company doesn't sound like it has the capacity to, so all the users' deposits are likely to sit in the company's "pot". It means that Minerift solely relies on the value increase of all the cryptocurrencies to pay out 5%-11% return plus affiliate commissions. The idea is most unrealistic and impossible...it's insane, in fact!

Is Minerift a Scam?

Being officially registered with the UK government doesn't necessarily make a company legitimate. Especially Minerift Ltd. was only incorporated less than 6 months ago and its first financial statement won't be due to be published until late 2022. 

As I explained earlier, the company is registered as a game-publishing firm but the website minerift.biz is nothing to do with gaming. It offers an investment opportunity and a multi-level referral compensation plan without selling any products, which suggests that Minerift is running an illegal Ponzi scheme.

The shocking fact is that it's barely a couple of months into operation and already a number of complaints from the existing users have been passed to Trustpilot. 

Based on their reports, yes, Minerift is a scam for not returning the users' investment as promised. The good news for those victims is, because the company is identified, they can take legal against the company and if they do, the director Robert Latcham will be responsible.