Without a doubt, FlexMining.LTD is a scam. Yes, we agree that it may pay a few members but that doesn’t make its business model legal or sustainable. It will stop paying sooner or later due to which the majority of members will lose their money. Why? Well, let’s find out the answer in detail through our FlexMining.LTD review here.
Why is a Flex Mining LTD scam?
Flex Mining LTD is a scam due to the following reasons:-
# FlexMining LTD is a Ponzi scheme which is neither a legal nor a sustainable scheme. Legal authorities have already warned the general public to stay out of the Ponzi scheme due to its unsustainable nature. The majority of members will lose their money in Ponzi scheme and only a few ones who join the system at first will make some few bucks due to which you will find out some few people who promote and support some Ponzi schemes.
# We can say FlexMining is a Ponzi scheme because it doesn’t have any real source of income to pay profit to its members. It claims to pay up to 2500% profit in 120 days or 10% daily profit forever on the investment amount of members by using the money of members in cryptocurrency mining. However, it fails to provide the physical location of its so-called mining farm which proves it doesn’t have any real source of income and only can pay members by routing the money between the members which is not a sustainable business.
# All the Ponzi schemes like FlexMining.LTD trick people by showing the real payment proofs because they pay few members at starting by routing the money between the members so that they can lure more people into their scheme by showing those payment proofs. However, it is practically not possible to pay all members in that way because when they pay one member, they need to use the money invested by other two or more members so that they can pay the principle and profit to that one member. But, whenever they pay members in that way, they will create a debt equal to the amount of profit that they use to pay the members. So, even Ponzi schemes like FlexMining want to pay all members they can’t because day by day the debt will be kept on increasing and they will not have enough fund to pay all members. That’s why Ponzi schemes like Flex Mining LTD are illegal schemes.
# Flex Mining LTD has tried to trick people by showing the company’s registration document registered from the UK Companies House in the name of Flex Mining LTD. But, don’t fall for that trick. Lots of Ponzi schemes in the past had already turned into scams which were registered from the UK Companies House. Actually, it is very easy to register a company in the UK Companies House by providing the virtual address which you can rent from the virtual address provider services as well as by providing the third person identities. Even you can register a company in the UK Companies House without a big hassle. On top of that, such kind of registration is not the license to run an investment company like Flex Mining LTD, but just a registration for the tax purpose. On the other hand, there is not any proof that proves FlexMining.LTD is linked with Flex Mining LTD.
# FlexMining.LTD also operates another illegal scheme known as a Pyramid scheme because any company which pays the referral commission up to multi-level downlines without selling any retail products or services is known as a Pyramid scheme. FlexMining.LTD is also claiming to pay referral commission up to 2 level downlines but without selling any real products or services, just on the sales of its Ponzi ROI plans. So, this makes FlexMining.LTD a Pyramid scheme as well.
Now you know that FlexMining.LTD is a combination of two illegal schemes which are Ponzi and Pyramid schemes. So, FlexMining.LTD is a fraudulent website. That’s why we have listed Flex Mining LTD within our “Scams” category. So, in this situation, we don’t recommend you to invest in Flex Mining LTD.
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