Gensminers Review  –  Ponzi Scheme  – MLM Scam

Website & Company Information

The web domain of the company was privately registered on the 2nd of June 2020. The website does not provide any information about who owns or runs the company. We couldn’t find any information related to the team behind the company.

In an attempt to look genuine, the company provide two Georgia incorporation certification on its site.

As always, if the company is not being transparent about its corporate structure, then you must think twice before handing over your hard-earned money to anonymous people on the internet.

GensMiners’ Products

The company has no retailable products or services, with affiliates only able to market the affiliate membership itself.

GensMiners’ Compensation Plan

The affiliates of the company invest funds on the promise of the following advertised returns:

  • Beginner — invest $100 to $499 and get an ROI of 105% paid after 24 hours
  • Premium — invest $500 to $1499 and get an ROI of 110% paid after 24 hours
  • Expert — invest $1500 to $1999 and get an ROI of 130% paid after 24 hours

The company also pays referral commissions. These commissions are paid down three levels of recruitment (unilevel):

  • level 1 (direct recruits) — 5%
  • level 2–10%
  • level 3–15%

Joining GensMiners

Joining GensMiners affiliate membership is free. However, full participation in the attached income opportunity requires a minimum investment of $100.

Conclusion

The company claims of generating external revenue through “mining farms”. But yet fails to show any proof to back this claim. No evidence of any operating mining farm is provided. Nor is there any evidence of the company generating income from any other form of an external source.

GensMiners also fails the Ponzi logic test because if the owners are able to make a consistent 130% a day, then why do they need your money?

As we see, the only valid source of income going into the company is the new investment and using these investments to pay existing affiliates makes this business model a Pyramid Scheme.

The investment side of GensMiners constitutes a securities offering, and Securities in the US are regulated by the SEC. Since the company is not registered with the SEC, it is illegally operating and illegally offering securities.