King Finance Trade Review: Opportunity or Crypto MLM Scam?

kingfinance.trade review

In this post, we will review one more online earning opportunity, i.e. KingFinance previously known as WaterMine.

WaterMine was operating as a crypto-based MLM company. Recently official site of WaterMine went down. They told in response that the sites were hacked.

Soon after the breakdown, the company had a comeback with the new name and domain KingFinance.Trade.

watermine announcement

This Facebook post was made instructing the comeback. The announcement was done on June 9, 2021, whereas KingFinance’s launch date is June 6, 2021, as shown on the website.

Apart from this, it is seen that its website domain kingfinance.trade is privately registered on April 17, 2021.

Let us have a detailed look over the company and its workings.

What is KingFinance?

As stated over the website, the company tends to deal in crypto mining in the cryptocurrency industry. kingfinance.trade shows that they work with advanced crypto technology.

A person who joins KingFinance is known as an Affiliate and can also create a downline to receive instant commissions.

KingFinance.Trade says, Whenever an investment package is purchased, they start crypto mining and provide daily commission to the investor.

But it is seen that there is no official data regarding the investment, rather it is believed that the company hands over new the new investor’s money to the old ones.

Also, there is no data available over the website regarding its owner or operator. Even the data related to investments, withdrawals, and team members on the website seem a bit tricky.

The only way to contact the platform is through the given email id on the website: [email protected]

The website allows users to transact using Litecoin, Bitcoin and Ethereum.

Company Profile

Company NameKing Finance
Founder
When StartedJune 6, 2021
Head Office
Websitewww.kingfinance.trade
ProductsCrypto Investment Scheme
Email ID[email protected]

How KingFinance Works?

  • Registration: Anyone who wishes to join KingFinance needs to register on kingfinance.trade
  • Select and Purchase: As the next step, one needs to select the hash power and make a purchase. Hash power is the power required for mining of cryptocurrencies.
  • Start of Mining Process: At this point, one can see the live mining.
  • Receive mined coins daily: Lastly, the mining commission is allocated and minimum payout is $2.5 to $3.

KingFinance Investment & Compensation Plan

There are mainly 4 types of investments and the earnings depend on the type of plan chosen.

Whichever plan is opted, the return on investment is received in 3 months.

kingfinance compensation
  1. ETHash: The ETHash Plan requires you to invest $10 or more. Here the investor can earn 2% every day. The minimum required Hashrate is 400GH/s.
  2. SHA-256: One has to invest $100 or more to opt for the SHA-256 Plan. This plan gives earnings of 2.2% a day. The minimal Hashrate is 4000GH/s.
  3. Scrypt: Scrypt Plan requires investing $1000 or more to receive 2.4% every day. 20,000GH/s is the minimal Hashrate.
  4. EquiHash: EquiHash Plan takes the investment of $2500 or more. After the investment, earnings of 2.6% a day are received. Here Hashrate is 40,000 GH/s.
kingfinance compensation plan

Referral Commission

KingFinance follows a uni-level compensation structure. Every affiliate can earn up to 20% from their referrals.

unilevel MLM plan

Referral Commission is given on 4 downline levels called Tier.

LevelCommission
Tier18%
Tier26%
Tier34%
Tier42%

As a whole, every Affiliate can earn 20% total commission as they build the downline.

For instance, it places an affiliate at the top with his referrals placed directly under him in level 1 (tier1). In the same way, if a level 1 (tier1) affiliate recruits a new person, he is directly placed on level 2 of the original affiliate’s unilevel team.

Our Opinion on King Finance

According to its history and business model, Our opinion on KingFinance.Trade is contradictory.

There is no fundamental difference between King Finance and WaterMine.

King Finance has not provided any details about its existence, i.e. No corporate registration, legal documents, physical address, operator names and links to social media accounts. And ironically this company is functioning on public investment.

The compensation plan is enough to understand that, This is a PONZI SCHEME.

2% daily return is not possible with crypto mining as it is extremely volatile. And King Finance is fortunate to doing so, then why they are seeking public investment?

Actually, they reward the money of new investors to old ones and money circulation is performed, until regulators take action against them or the company wants to do exit scam by own.

WaterMine chooses exit scam and face behind this started gimmick again with King Finance.

Sadly according to Alexa, after the USA most people visiting WaterMine.io were from Venezuela, a country that is already in financial crisis.

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