GoSolar Mining Review – Ponzi Scheme – MLM Scam

Website & Company Information

The domain (“gosolarmining.com”) was registered on November 23rd, 2018 — the details of the domain owner are kept private.

The company is privately held and has its office in Gibraltar. According to their website, they operate under ‘Crypto-Mining’ industry.

GoSolar Mining grants you a unique opportunity to discover a new revenue stream and to monetize your renewable energy investment through crypto mining.

After research, it was found that the office address given on the website locates to a virtual office merchant, Regus. It should be taken into account about the transparency of the company before making any investment decisions.

Another site shows GoSolar’s HD in China

https://www.zoominfo.com/c/gosolar-mining/478357914

Ironically, the website doesn’t provide a brief overview of their business model. Instead, they focus their language on ‘Wikipedia-stuff’ and talk about energy mining, crypto-mining etc. Basically this is an industry cliche — a Ponzi scheme talks about the overall industry, pumps data and charts into the website rather than coming to the point about their business model. With this strategy, they try to dodge the bullet and keep their visitors posted about the ‘wonderfulness’ of the industry.

A classic example — Bitcoin was a couple of cents when it was launched, and it hit $20,000 in 2017. The returns were astounding, a 99999900% gain!

Most of the pages on the site doesn’t work. But the pages that have payment information are fully functional. Nice!

These Pages are Pricing; Rent a Window; Family Referral.

The website is not fully functional. Yet they are accepting investments

What works?

Crypto Payment Option

The only functional page is the Payments page. They also allow making a bank deposit but haven’t publicly listed their banking details. You will need to contact them first!

GoSolar — Products | Compensation Plan | Referral Commissions

Products

The company has no products or services to market. Their business model is simple — affiliates pump users into the system to get rewards, the users pump more users into the system as affiliates to get rewards — this runs in a loop.

Compensation Plan

Affiliates invest funds to get monthly returns. There are currently 3 active plans:

Benjamin Franklin Plans

The Benjamin Franklin has no lock-in period. The fixed return in one month period is between 20–25% clean profit depending on your investment.

According to their website, the plan is available for a 6 month period, with daily withdrawals.

  • invest between $200-$999 and get 15%/month for 3 months
  • invest between $1000- $4999 and get 20%/month for 6 months
  • invest between $5000-$9999 and get 21%/month for 6 months
  • invest between $10,000-$14,999 and get 22%/month for 6 months
  • invest between $15,000-$19,999 and get 23%/month for 6 months
  • invest between $20,000-$24,999 and get 24%/month for 6 months
  • invest between $25,000+ and get 25%/month for 6 months

Thomas Edison Plans

  • invest between $200-$999 and get 30%/month for 3 months
  • invest between $1000- $4999 and get 35%/month for 3 months
  • invest between $5000-$9999 and get 36%/month for 3 months
  • invest between $10,000-$14,999 and get 37%/month for 3 months
  • invest between $15,000-$19,999 and get 38%/month for 3 months
  • invest between $20,000-$24,999 and get 39%/month for 3 months
  • invest between $25,000+ and get 40%/month for 3 months

Nikola Tesla Plans

  • invest between $200-$999 and get 45%/month for 3 months
  • invest between $1000- $4999 and get 50%/month for 6 months
  • invest between $5000-$9999 and get 52%/month for 6 months
  • invest between $10,000-$14,999 and get 54%/month for 6 months
  • invest between $15,000-$19,999 and get 56%/month for 6 months
  • invest between $20,000-$24,999 and get 58%/month for 6 months
  • invest between $25,000+ and get 60%/month for 6 months

Referral Commissions

A uni-level compensation structure is in place that pays referral commissions. Example below:

Source — http://www.richmentorship.com/

GoSolar allows one to receive payments from its Level 4 affiliates.

  • One will receive 15% for what his/her direct recruit invests in the company (Level 1) and 10% on Level 2 — Benjamin Franklin Plan
  • 15% on level 1, 10% on level 2 and 5% on level 3 — Thomas Edison Plan
  • 20% on level 1, 15% on level 2, 10% on level 3 and 5% on level 4- Nikola Tesla Plan

GoSolar doesn’t charge any fee for joining. Their affiliate membership is free. However, there is a $200 enrollment charge if you want to participate in the income opportunity listed above.

Board Members

We couldn’t find enough evidence on the internet to conclude about the transparency of the team. The only list we found was zoominfo.com, which is can be generated easily to create an online presence.

Conclusion

GoSolar markets its affiliate system under the guise of ‘Crypto-Mining’. There is no evidence of their crypto mining operations. There is also no sound/verifiable source of their external income.

Their only income source that is visible to us is new investment. And with new investment, payments get distributed to affiliates and admins.

Like every other Ponzi MLM, using new investments to pay existing affiliates is an outright scam. There is always a time ticking bomb, when burst, ignites a financial collapse of any MLM.

Once new investors stop coming in, the funds will dry, and your money will be gone.