Minelend (minelend.com) is a cryptocurrency investment group that was allegedly founded on January 30th, 2018 by Crypto Coin Mining Solutions Limited. Being heavily labeled as a shady ICO investment venture, Minelend appears to have expanded their network operations to supposedly provide a more encompassing service. To learn whether Minelend is legit or providing fraudulent services, we encourage you to continue reading our investigative and factual review.
Minelend portrays their investment group as a service platform that offers a wide variety of services such as cryptocurrency investing, mining along with ICOs. Functioning as an unverified and unregulated investment firm, Crypto Coin Mining Solutions Limited solely operates as a private limited company.
According to the CompaniesHouse database, Crypto Coin Mining Solutions is a UK based corporation that is registered under company number 11229865. Crypto Coin Mining Solutions reflects a physical address of 5th Floor The Margolis Building, 37 Turner Street, Manchester, United Kingdom, M4 1DW. Recently incorporated on February 28th, 2018, Crypto Coin Mining Solutions only discloses two active operators who go by Stephen Mee and Desmond O’Callaghan.
How does Minelend Work?
Minelend functions as a “dump and pump” operation where potential investors can elect to enroll with one of their 6 investment plans. Depending upon how much an investor is willing to initially part with will dictate the duration and promoted ROI for each plan. While Minelend is marketed as a multi-functional service platform, when it comes down to the nitty gritty, it appears that Minelend mostly operates as an investment firm.
Reference to data-centers and cryptocurrency mining are mentioned on their site although no further insight is provided in regards to either outlet. No mention of which cryptocurrency hardware is shared on their site while the site fails to disclose documentation verifying that they are a licensed entity that can legally manage and invest other’s funds.
As briefly touched upon, Minelend supports investment related services that are determined by flat rate investment plans. Each plan is active for an annual basis and come with a fixed daily ROI. The more an investor deposits, the higher the ROI they will allegedly receive throughout the duration of their service. Disclosed below are the following Minelend investment packages:
Deposit: $50 – $500
Daily ROI: 1.0%
Cryptocurrencies Supported: 2
Deposit: $501 – $1,000
Daily ROI: 1.2%
Cryptocurrencies Supported: 5
Deposit: $1,001 – $5,000
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Daily ROI: 1.4%
Cryptocurrencies Supported: 10
Deposit: $5,001 – $20,000
Daily ROI: 1.6%
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Cryptocurrencies Supported: 13
Deposit: $20,001 – $50,000
Daily ROI: 1.8%
Cryptocurrencies Supported: 19
Daily ROI: 2.0%
Cryptocurrencies Supported: 27
Question Marks and Red Flags
Whenever we encounter an investment platform that operates without proper authority and legal registration, it becomes difficult to approve of such operations since they lack credibility and ethical practice. Furthermore, Minelend.com makes no effort to enlighten potential investors of their active operators or past founders, which means that their overseeing entity is held minimally liable.
Other red flags would be how Minelend reflects a negative community consensus, how their site lacks operational transparency along with how their site is being broadcasted as a scam, according to some sites.
Domain Insight & Popularity
Minelend.com was a privately registered domain that was created two days after Crypto Coin Mining Solutions become an incorporated private limited company. Registered through the NameCheap registrar, Minelend does not reflect any web rankings, according to market intelligence sites, such as SimilarWeb, as of April 2018.
Is Minelend a Ponzi Scheme?
Minelend evasively portrays their operational model and fails to provide transparent evidence to validate the unrealistically high returns they promote. Promoting annual returns between 365% to 730%, Minelend promotes investment returns that reside far outside the norm.
Given the lack of operational information, it appears that the only verifiable source of income derives from investors who deposit into their platform, which supports the theory that Minelend is functioning similar to a Ponzi scheme.
Minelend Review Conclusion
Minelend lacks credibility, operational transparency while failing to operate as a licensed investment firm. Offering investment services that promote unrealistic returns with the deliberate attempt to mislead investors into depositing into their platform appears to be the endgame regarding Minelend.
Whenever it comes to online investment opportunities, we urge investors to only invest with transparent, liable and credible investment platforms, which is what Minelend lacks. Given the findings disclosed above, we do not recommend Minelend to prospective investors.