My Blockchain Life – A Ponzi Scheme Crypto Mining Scam!

My Blockchain Life Scam

Heard of cryptocurrency mining? It is the process via which new crypto coins are minted and can be quite profitable in the long run. But, you should also be aware that it requires a great deal of investment and extensive knowledge about the mining process. Does this mean you cannot take advantage of this opportunity? Luckily, there are mining platforms that allow you to do so without having to do more than investing your money. The only problem is that not all platforms are authentic as many people have been scammed. This My Blockchain Life review can show you how this happens.

Most people have fallen prey to such scams because they are presented in a way that makes it difficult to distinguish. They deliberately have offerings that can be tough to resist, as in the case of My Blockchain Life that poses as a modern cryptocurrency mining solution. According to its website, their team has been providing efficient and reliable crypto mining services for years. But, when you check the facts, you will find that My Blockchain Life was established in 2020.

Moving on, the company claims to have state-of-the-art mining equipment that can assist people in making solid returns from the crypto industry. Likewise, they are offering 24/7 customer support to users and they have claim to have a professional and competent team. All of this does sound very impressive and those who don’t know better would definitely sign up with My Blockchain Life to begin making profits. But, you should take a closer look to ensure the platform can be trusted or not. Let’s get started:

Registration

When you decide to invest in My Blockchain Life, you will be in for a surprise. This is because the company asks you to invest a whopping $3,000 in crypto mining hardware. Moreover, they will also ask you to invest an additional $1,250 every 500 days, or $2,000 every 1,000 days. This investment is extremely high when you compare it with that of other crypto mining platforms.

In order to appear legitimate, you will notice that My Blockchain Life is willing to offer you details about its mining equipment. The initial investment is used to purchase the mining rig and for its maintenance, while the other payments are used for crypto mining procedures. Again, this amount is quite excessive.

Affiliate program

A closer look at My Blockchain Life will show you that it is essentially earning through its Affiliate program. It assigns ranks for paying commissions and bonuses to its clients and they appear to be a prominent part of its income structure. Furthermore, it promises that it will distribute these in a timely manner, but does not provide any details about the procedure. However, you should be aware that this is how Ponzi schemes operate and their goal is to get as many people to invest money as they can.

Background

You should also check out the background of My Blockchain Life to know who you are dealing with. Their website states that it is based in the United States. If you check out their Facebook page, you will come across a few marketing videos that include Glen Williams. He claims to be the CEO and co-founder of My Blockchain Life.

His LinkedIn profile shows that he is based in Ottawa, Canada. He has previously promoted the Ponzi scheme Bitconnect in the crypto space. This should immediately set off alarm bells because is not someone to be trusted. While this data is available on Facebook, you will not find any details on My Blockchain Life’s website. They appear to be mostly anonymous and no details about the owner are provided. The company is also not registered anywhere, which makes it a mistake to trust them with so much money.

Final Decision

Considering the many issues with My Blockchain Life, you can easily come to the decision that this platform is not a legitimate crypto mining solution for anyone.