Dominant Finance (dominant-finance.com) is supposedly a blend of trading and mining cryptocurrency which offers returns which are too good to be true. They are said to generate up to 16% monthly and as expected there is no evidence backing up their claims.
While we went through their platform and all the information put up by them, we were convinced that it is nothing but a neatly organised scam which will rip off investor’s money. This platform is getting promoted heavily on the internet but there are reasons for that too which we will discuss later in the review.
Before moving further with this platform make sure that you go through our article which will help you make an informed decision.
Company and Contact Details
Dominant Finance is an ICO which offers investment opportunities to the retail clients. They basically raise funds required for purchasing mining equipments and to pay for other associated costs, in return the investors are promised certain amount of returns depending upon the type and duration of the contract they choose.
While we were looking for any licenses they should legally hold, there weren’t any. We have confirmed through FCA this firm has never been licensed thereby operating illegally.
Nonetheless these scammers have tried their best to appear genuine. They have featured a lot of registration documents of all sorts but rest assured they have no right to accept money from the retail investor.
The only contact detail provided by them is an email address.
This firm has put up some details of the people who are supposedly involved in this firm. We could not find them any information about them online except on their website which makes us believe that they are all just imaginary characters with stock photo attached with them.
Now ask yourself why would they put up fake details unless they are hiding something from us?
How does Dominant Finance Work?
This platform is said to be involved in trading and mining cryptocurrencies but there is no sort of credible evidence to prove that. The details of their trading approach is not revealed and there is no trial period provided by them.
We do not know which factors are considered by this firm before entering a trade and as expected there is no verifiable trading history provided by them. As far as mining is considered, there isn’t much information either.
They have not stated which equipments they use and where their mining farms are set up. We do not know which mining pool they are involved with. After looking at the lack of clarity associated with this platform, it is certainly not the one you want to mess around.
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Mining contracts cannot be valued in exact dollar figure as the fluctuation in the crypto market is huge. Regardless of which mining contract you choose this firm promises returns of 10% to 16% which is just impossible to achieve through mining.
If you do the math it adds to a staggering 192% ROI yearly. Doesn’t this sound a little too good to be true? Let us know what you think.
This firm encourages marketers, bloggers and any one who has access to web traffic to refer people on to their platform. The affiliates are paid fixed percentage of the deposits made by every investor they bring in.
Just like many of the scams we have seen before this platform does not require the affiliates to be an active investor in order to get their commissions. Their only motive is to make money and they are ready to do whatever it takes to achieve them.
According to whois.com this domain was registered on 27/03/2018 and it expires on 27/03/2023.
This website has a global rank of 406,652 and it ranks 32,098 in Russia according to alexa.com.
The majority of the users coming to this website are from Russia, Germany, United States, Netherlands and Nigeria.
Deposit and Withdrawal
The deposit and withdrawal methods supported by this platform are Bitcoin, BitcoinCash, Litecoin, Ethereum, Ripple, Dash, NIX money, PerfectMoney, Payeer and advcash. There is no information about the transaction fees. The time taken for processing withdrawals is not specified anywhere on their platform.
Is Dominant Finance a Scam?
A Dangerous one,
This platform is nothing but a ponzi scam which just happens to have all the bells and whistles resembling to that of a legitimate solution. Indeed their website is very appealing, minimalistic but that does not change the fact that we are dealing with a scam.
They will be operational as long as they are profitable but once they turn cash flow negative they will be gone.
Dominant Finance Review Conclusion
Dominant Finance is one of the biggest fraud company out there in the crypto trading and mining sector. There are heaps of complaints against them and thousands of investors have lost their hard earned money.
This platform features many technical factors and fake information which gives the investors a wrong impression of getting huge profits. Regardless of what type of mining farm you have it is just not possible to reach these kind of return on investments especially with the rising cost of machines and electricity. Avoid any type of dealing with this firm because at the end of the day the only ones to make money is them.
If you lost money to Dominant Finance, share your experience by leaving a comment below.