A new company named WTC Cloud Mining (Wtccm.com) has entered the market with its claims of giving a minimum 200% ROI in its platform.
In this post, we will review the WTC mining platform and suggest to you to whether invest in it or not.
What is WTC Mining?
WTC is an MLM-based crypto mining platform and also has a digital currency named after them WTC.
As per their website, the headquarters of this company is situated in Texas, United States, and more offices in Singapore and Geneva. But there is no information available about its founders.
According to WHOIS, the total domain of this company Wtccm.com was registered on April 2023.
WTC also offers an affiliate program to earn extra incentives over the perks of cryptocurrency mining. The minimum joining cost to join this company is 20 TRX and after paying that you will be eligible for their affiliate program too.
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WTC Mining Review
After analyzing this company’s bold claims and its affiliate program we found several precautionary signs. Let’s take a look at it.
1. Founders are Hiding
The biggest red flag to look at in this company is the anonymity of its founders or operators. The operators are trying to deceive a big audience while staying anonymous.
They have no social media presence. Moreover, very little information is given about their operation.
2. No Precise Address
The company’s website just lists the state and nation of its headquarters. The fact that its website has neither a particular address nor any official documentation proving its headquarters is registered raises serious concerns.
Users should also be aware that any company looking to raise money from the general public must register with the appropriate authorities in a country and become subject to regulation.
It appears that the corporation is also lying about where its other offices are located in other nations. Additionally, this website’s code was written in Chinese, therefore there is a good likelihood that China is where the operators are hiding out.
3. False Claims
The company claims on its website that it began operations in 2018, yet our investigation and WHOIS records show that the domain was registered in April 2023.
Actually, they are just lying to deceive investors and pretend a long-running legitimate platform.
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4. Bluff Content on Website
They have mentioned on their website that they have paid out a total of $190 billion from their platform, which means that they had to generate $3.8 trillion.
These statements appear false if simple economic principles are applied. A 3-month-old platform can’t create this much money and they make fake claims to lure investors.
5. Unrealistic Returns
Their compensation plan also appears to be completely fraudulent. They guarantee a minimum ROI of 200%, which is completely illogical given that no tested investing strategy would ever pay that high ROI.
People need to be aware that any lawful plan operates to provide fair returns over an extended period of time. Crypto mining companies can’t guarantee this much return in any situation.
6. Money Circulation Scam
Their compensation plan says that you have to deposit a predetermined amount of money to get a high percentage return on that investment. The structure of their compensation plan follows:
|20 – 50,000 TRX||200%|
|50,000 – 99,999 TRX||230%|
|100,000 – 199,999 TRX||250%|
|200,000 – 499,999 TRX||300%|
|500,000 – 999,999 TRX||400%|
|1,000,000 or more TRX||500%|
In addition to that, the WTC also gives 5% additional daily returns on your deposit amount. And, they give referral commissions down to three levels in their affiliate program:
- Level 1 – 13%
- Level 2 – 5%
- Level 3 – 3%
Here, after examining their affiliate program and reward plan, we can affirm that it is nothing more than a Ponzi scheme scam, with the operators only attempting to fool the public by displaying their cryptocurrency mining side.
In these kinds of Ponzi schemes, money circulation happens in a huge volume inside the company which causes significant financial losses for participants. Additionally, the operators receive a sizable sum of money.
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Should I invest in WTC Mining?
No, you should refrain from investing in these kinds of fraudulent schemes and save & invest your hard-earned money in some legitimate opportunity only.
WTC Mining is a clear scam and it will dumb decision to invest in them. They even failed to build a website with good design. They are just doing hollow claims to attract investors. As they reach a breakeven point, it will collapse and all investors will lose their money.
So keep precautions and alert others as well against such scams.