What comes to mind when you experience the Mind Capital platform is that you’re dealing with an elaborate ponzi scheme. For starters, this is one of those platforms that would not sign you up without a referral. This is pointing to the fact that whatever business the owner is involved in, they obviously need influx of people to sustain it.
Like most shady investment schemes associated with digital assets, the owner is not known even though the platform claims that one Gonzalo Garcia-Pelayo is in charge of the scheme. A search of the individual shows that he is a Spanish music entrepreneur who has investments in casino.
A background check of the claims that the platform is owned and operated by Garcia-Pelayo shows that this is not so. There is no proven link between the individual and the scheme. Moreover, a January announcement by the National Securities Market Commission, a market regulator in Spain warned investors about Mind Capital.
According to the agency, the owner of the platform has no affinity to Spain even though its website claims otherwise. This is a clear red flag that every savvy investor should watch out for before sending their funds to any investment site.
The document seen by another review site stated that
“The CNMV warns that: MIND.CAPITAL is not authorized to provide the investment services detailed in Article 140 of the Securities Markets Law; and is not authorized to perform the activities reserved for collective investment institutions.”
Be that as it may, the site that has been declared a persona non grata has been promoting its investment scheme without relenting. This is despite the fact that information provided on it are mostly false.
Signing Up with $100
To participate in the scheme, the investor needs to sign up through a referrer and make a deposit of a minimum investment of $100 which would be tenured for 90 days. This means that the owners is hoping to hang on to people’s funds as long as possible to maintain liquidity and enable more people to be signed on to the platform.
No genuine investment site depends on incoming funds deposited by new enrollees. This is clearly the case with Mind Capital despite its claim that:
“We continuously monitor and analyze the evolution of thousands of crypto-assets and their exchange rate in different currencies and through the use of advanced algorithms we detect real-time buying/selling opportunities. Depending on each moment we can operate in several crypto-assets simultaneously or in only a few or none. The value of our system is in knowing what crypto-assets, what currencies and at what time you have to buy or sell and that information, of course, we cannot make public.”
Well, the fact that they claim they are keeping some secrets is to make the participants feel that something is really going on behind the scene even though this is just an everyday ponzi that may not even pay anyone at the expiration of the tenure of their investment. This is despite the fact that the site claims it pays ROI of 0.5 to 1.5 percent daily to the investors.
One rule of thumb that every savvy investor is aware of is that no genuine investment site offers profit much higher than what is obtainable in the general market. If it sounds too good to be true, it obviously not true.
How Long Has It Been Online?
There are two domains associated with the scheme, mind.capital and mindcapitalonline.com. The latter was registered on April 2, 2020 while the former was registered on July 16, 2014. What is obvious is that mind.capital may have been bought from an existing site since there is no indication that the site has existed for up to 6 years.
Why Do They Need Your Money?
This site which claims to be the foremost crypto-fiat platform obviously claims that it is making profit from arbitrage as seen below:
“The technology developed by mind.capital allows us to study the evolution of the main crypto-assets and their price in different currencies and operate in the market by using advanced algorithms. After years of research, we have optimized the system to obtain maximum profitability.”
Now have you wondered why a company that is making so much profit would be interested in having investors send them more funds? This in essence means that they would share their profit with as many that signed up and made deposit. Why would they not grow their own funds instead of wanting to make others rich?
The reason is that arbitrage is not as profitable as they claim. In reality, they are using it as a tool to lure investors to send them funds that they may steal when the scheme becomes another exit scam.
Getting a good investment site takes carefulness because there are many scams out there. Mind Capital has carefully set out its site to look like a real crypto project but it is not. Many if not all participants in the scheme will lose their funds. This is absolutely not necessary.
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