GrenMiner Review _ the site is only newly-created on March 19, 2022, without any admin info or details about crypto mining on the backend. Yet, it maintains that members can earn up to 4.5% profit per hour investing in bitcoin.
It also offers other profit-weighted levels via a unilevel compensation plan. A quick search on the site shows a bounty bonus cache, where members can get rewards, intending to make GrenMiner popular.
As incredulous as a 4.5% ROI on the lowest plan, GrenMiner seems to advertise the flat quote returns. Some plans can earn a member up to 270% in only five (5) days.
However, the site doesn’t seem to have any corresponding revenue option despite offering so many ROIs in a short investment period. The only space for actual investment is a hotchpotch of crypto buzzwords with zero correlation to the currencies listed on the site.
If affiliates are going to make profits mining coins, they will have an easier time signing up with a reputable company than an obscure anonymous one. That is just the case with this platform. Our GrenMiner Review could not find any mention of the operators.
Why would anyone invest in such a company? Here are possible reasons _
- Passive income goes up to a few hundred dollars in a short period,
- ROI quote requires only minimal inputs from the affiliate, and
- Any semblance of security (a certificate of incorporation, in this case).
As per security, the certificate of incorporation on the site doesn’t guarantee a shred of protection should the company fold, which is more likely than not. Check the trend. Watermine offered similar crypto rigs and scammed people in the end.
We highlight key issues about the platform in this GrenMiner Review. Read on below for details.
GrenMiner Review: Overview
The company is incorporated in the UK, and it supposedly runs a crypto mining software, offering mining units at fixed deposits. Once any member buys a plan, he can earn the appended ROI per tier throughout the validity period.
Some of the listed currencies that GrenMiner claims to mine include the following _
USDT (TRC20 and ERC20),
So far, the company doesn’t offer any tangible products that members can buy, although the profit-tied plan is a compliance check, which means GrenMiner requires a regulation.
Nothing about cryptocurrency excludes it from the warren of SEC’s definition of investment securities.
So, our GrenMiner Review checked for any sign of a security license on the site but found a different story altogether _ the Russian central regulator blacklisted GrenMiner. (More on this later).
The PR pitch so far has been to deconstruct any objection to traditional crypto mining, whereby GrenMiner would be remiss for encouraging members to invest only money and earn flat-quote ROIs. How does it miss the point? Because crypto mining requires proof of work, blockchain timestamping takes a lot of slogging to get.
See the affiliate compensation plan below.
Affiliate Compensation Plan
The plan here is like a mountebank offer: invest one, get two. So, our GrenMiner Review finds a 2 BTC for 9 BTC per hour ad on the lowest tier here. See the complete plans below.
16 days validity period _ pays 2450% ROI
5 days validity period _ pays 270% ROI
Twenty-four (24) hours validity period _ pays 115% ROI
Also, the same plan offers a 4.5% hourly profit, which grosses 108% per day
Additionally, members earn percentage bonuses from an affiliate compensation grid (unilevel lattice), getting 1% on Levels 2-3 and 6% on Level 1.
Here is how the unilevel lattice works.
The affiliate’s personally recruited members fill the First Level. The First Level referrals boot the Second Level by recruiting people to buy a package. Subsequently, the recursive arrangement yields a typical MLM compensation grid.
Without any solid revenues on the backend, the unilevel lattice is only a pictorial representation of a pyramid scheme. GrenMiner is a perfect case, being similar to bogus crypto investments like Finiko.
GrenMiner Review _ CBR, the Bank of Russia, Blacklists GrenMiner
In an online indexing webpage, cbr.ru, Russia’s central financial regulator, the Bank of Russia, tagged Grenminer as showing “signs of a financial pyramid”.
The tag is a diagnostic, showing that GrenMiner ticks all the boxes for a Ponzi scheme.
Instead of stopping the sham it is advertising, GrenMiner chooses to replicate it in a different jurisdiction using a UK incorporation as a cover. That is why such certs are useless as per monetary security or protection.
Is it Safe?
No, the platform is not safe for one bit of investment.
It has too many deadweights in its baggage to pass the SEC requirements in Russia or the UK. Moreover, the operators are anonymous. And they offer unrealistic profits.