It’s likely that you have come across Mind Capital through an email list, on social media or got it recommended by a friend or family member.
Is Mind Capital a scam? The reasons why you’re here is because you have want answers right so, that’s what I’m going to provide for you within this Mind Capital review.
First and foremost I must commend you for actually doing a bit of extra research before committing to joining Mind Capital. For all you could have known, the product could be a major scam so the fact you’re here right now, researching whether or not that’s the case is a pretty smart move on your part.
To be fully transparent with you, I am personally not a member of Mind Capital so I can assure you that I will not attempt to sell you it unless of course it’s worth investing in.
What I will aim to do is provide you with an unbiased 3rd party look at Mind Capital that will hopefully help you to make the best decision you can in the end.
PRODUCT NAME: Mind Capital
OWNER/S: Gonzalo Garcia-Pelayo
TYPE OF PRODUCT: Cryptocurrency MLM
PRICE: $100 minimum
SUMMARY: There’s a very good chance that Mind Capital will eventually officially be regarded as a scam, pyramid scheme, ponzi or whatever you want to call it because its promises are completely ridiculous and of course the fact it isn’t registered to its local financial regulatory body in the CNMV is a big red flag too.
Besides, even the CNMV have classified Mind Capital as a company committing securities fraud. There are of course a bunch of other red flags such as the heavy push of recruitment and of course the pretty ridiculous returns from their trading bots.
Of course people are still being paid out however, this is only because so many people are still joining and the older members are basically earning from these investments as opposed to from actual returns due to the trading bots so, if you do join, be aware that you’re basically giving away your money to the more established member.
FINAL RATING: 0/5
RECOMMENDED: NO!!
WHAT IS MIND CAPITAL?
Mind capital is a cryptocurrency based MLM company founded by an individual named Gonzalo Garcia-Pelayo. Gonzala claims to be a gambling expert who supposedly made it big by figuring out the flaws of a roulette wheel and exploiting it. However, he does not seem to have any experience within the MLM space.
Other than essentially being a trading platform for cryptocurrencies, there really isn’t much else that stands out about the company.
I guess you could also say that the claim that affiliates will be able to make 1.8% daily returns through the platform does stick out as it is an absurd return that, if accurate would be really great returns but it is of course much harder to accomplish than the the website would make you think it is.
Another thing worth noting is that the crypto scene is very volatile so theoretically getting a nearly 2% daily could very much be achievable however, because the markets are so volatile it’s generally hard to predict when the right time to buy or right time to sell would be and also because the crypto trading scene is still so new, certain patterns won’t be as consistent as patterns within the more established day trading markets.
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MIND CAPITAL PRODUCTS
There are no retailable product offered by Mind Capital. All that you can do is invest through their platform as a member and hope their signals provide you with results.
You should know that in the FTC’s eyes the lack of retailable products is often regarded as a sign that the specific company in question could be a pyramid scheme therefore, this is obviously a pretty big red flag here.
HOW DO YOU MAKE MONEY WITH MIND CAPITAL?
As is the case with pretty much all MLM businesses there are 2 ways to make money with them, Mind Capital being no exception.
1. The first method is meant to be via passive returns on your capital investments.
2. You make money through your recruits and downline, by getting residual income by following and meeting certain criteria.
HOW TO GET STARTED
If you want to join Mind Capital and in turn earn from their plan you will need to invest a minimum of $100 to do so. This payment should ideally be done through bitcoin payments however, credit card payments are also a viable option.
However withdrawals can only be accomplished through bitcoin so if you wish to change it into the currency of your choice you’ll need to transfer it to apps like coinbase and convert it there.
COMPENSATION STRUCTURE
There are 2 main ways to earn with Mind Capital. The first way is through the returns you should from your initial capital investments. Mind capital claims that they can generate you between 0.5 – 1.5% daily on investments that range between $100 – $100k.
Of course they also state within their website that these daily returns aren’t guaranteed so at the very least they’re covering their ass here for the lack of results for any one of their affiliates.
Nevertheless, expecting these fairly ridiculous results of around 15 – 50% returns on a monthly basis (which is even more when you consider the compounding returns) isn’t very realistic so, the fact Mind Capital makes these bold claims is a good reason to be cautious of them.
Residual Commissions
The second way you can earn as a Mind Capital affiliate is via the commissions generated from recruitment and the unilevel structure that goes with it.
If you don’t know what a unilevel structure is, in simple terms it’s a structure that will allow affiliates to earn infinitely from recruits horizontally but vertically the earning potential will be capped. In this case the cap comes in at the 10th level.
The residual commissions are paid out as a percentage of returns paid across the unilevel team.
- level 1 (personally recruited affiliates) – 8%
- level 2 – 4%
- levels 3 and 4 (must generate $5000 in downline investment volume) – 3%
- levels 5 and 6 (must generate $15,000 in downline investment volume) – 2%
- levels 7 and 8 (must generate $50,000 in downline investment volume) – 2%
- levels 9 and 10 (must generate $100,000 in downline investment volume) – 2%
THE NOT SO GOOD THINGS
Recruitment Is Crucial
If you wish to succeed with Mind Capital the only way to do so would be through the recruitment side of things as the investments return of upto 1.5% returns are quite unlikely.
There are a ton of opportunities out there nowadays claiming their trading bots are amazing or that they’ve tested out these bots for years and can pretty much guarantee profits however, more often than not these claims are only used to coax people in to the business, they are used to entice people (normally the more naive people) into investing money.
This money is then basically used to pay out the individuals who may have joined earlier and built a pretty decent sized team.
What I’m getting at here is that the business model used by Mind Capital is quite similar to that of a securities fraud ponzi scheme meaning the company is not regulated and only the individuals with the biggest teams in the beginning (along with the owners) will make any kind of profit.
The Company Is Not Regulated
The Spanish financial regulatory authorities, namely the National Securities Market Commission (CNMV) confirmed that Mind Capital was committing securities fraud so that’s a pretty big problem for the company too.
Of course Mind Capital did not agree with this accusation but, it’s still a huge red flag and a major reason to not waste your time with the company.
THE GOOD THINGS
There is literally nothing good about Mind Capital and what’s worse is individuals who are know to promote ponzi schemes, particularly Simon Stepsy, are pushing this passive income opportunity pretty hard, which is another pretty good reason to stay as far away from it as possible.
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IS MIND CAPITAL A PYRAMID SCHEME/SCAM?
There’s a very good chance that Mind Capital will eventually officially be regarded as a scam, pyramid scheme, ponzi or whatever you want to call it because its promises are completely ridiculous and of course the fact it isn’t registered to its local financial regulatory body in the CNMV is a big red flag too.
Besides, even the CNMV have classified Mind Capital as a company committing securities fraud. There are of course a bunch of other red flags such as the heavy push of recruitment and of course the pretty ridiculous returns from their trading bots.
Of course people are still being paid out however, this is only because so many people are still joining and the older members are basically earning from these investments as opposed to from actual returns due to the trading bots so, if you do join, be aware that you’re basically giving away your money to the more established member.
MY PERSONAL RECOMMENDATION
I personally will always recommend against using a MLM business model to make money, not because you can’t make money through it (you totally can) but, the system has always seemed shady to myself and is kinda synonymous with the likes of a pyramid scheme or scams (MOBE and Digital altitude).
Instead I prefer working with something created through ones own means and is ultimately dependent on yourself and your work ethic alone.
This method I’m talking about is affiliate marketing.
The reasons as to why I recommend it over MLM based structures are because
– there is no need to recruit constantly
– it is a legitimate method that has been working consistently and continues to grow as more businesses want individuals to promote products
– and because it is free to start up, no unnecessarily large start up funds needed.
The service I recommend is Wealthy Affiliate. It’s free to sign up to and will get you set up and ready to start your affiliate marketing journey within minutes, as it did for me when I begun my journey.
If you have any questions that you would like to ask me regarding Mind Capital, feel free to do so in the comments section below and I will get back to you as soon as I can. If you have your own thoughts about Mind Capital and would like to talk about it, again feel free to do so in the comments below!
Thanks
Amhil