Mining cryptocurrency is the newest and fastest way to earn money. Of course, that depends on the company's policy and how quickly they can pay you out. One of these mining companies you will find online is called XP Mining. Like so many of the other companies, they offer you a specific return on your investment after a certain amount of days. The question is though, does XP Mining really pay out? Is it a company you can trust?
What Is XP Mining?
According to Who.is, the site was registered on July 16, 2016, and updated on June 17, 2017. The site is registered to Reed Grant from Manchester, Great Britain. When looking into further details of Mr. Grant you won't find much. What you will find though is different information sprinkled throughout the online world.
For example, when digging into XP Mining you will find that the company was incorporated May 2017. This information doesn't correlate to when the site was registered. It is possible that the original owner of the site sold the website to a different person and that is why it was updated in June once all the changes were made.
Another example is that on the main site you are greeted with a welcome video. In this video, you are introduced to Joshua Wyatt who claims to be the Marketing Director. However, when you look into Mr. Wyatt's background you won't find anything linking him to the site or the company.
Lastly, when you look at Alexa, you will find that most of the traffic to the site comes from Russia with India and the Ukraine as the second and third source. However, the site claims that most of its traffic derives from Latin America, Europe, and Asia. What is interesting about this is how the site offers a physical address in Urmston, Manchester while the language of the site is Portuguese.
XP Mining Product
XP Mining doesn't offer any retail products or services. You will find that the only thing you can do as an affiliate sells the membership plan to other people.
XP Mining Opportunity
The business opportunity for XP Mining can get a little complicated. First off, you have different “Packs” you can choose from. Each pack offers you a different amount on your daily return. If you sign up for any pack above 4 and recruit at least two people who sign up for the same level or higher, the site claims you can earn 300% return on your investment.
On top of the return on your investment, you can also earn depending on your affiliate ranking. The site offers 10 different levels of affiliate ranks. On the low end of the spectrum you can earn around $5,000 in binary volume and on the higher end, the site claims you can earn $5,000,000.
Another way to earn is through recruiting commissions which allows you to earn something for every person who signs up under you. Then there are the residual commissions where you can earn each month from your downline. And lastly, there are the bonuses that are handed out depending on your rank achievements.
XP Mining Verdict
The site offers you a lot of different ways to earn, however, you will soon realize that it all boils down to recruiting. XP Mining is a site that depends heavily on the recruiting part. Without the fresh money coming in, there is no way the site can sustain the amount of money it claims to dish out.
Another thing you need to be aware of before signing on is the fact you don't know who owns the site. XP Mining claims that it can earn you a lot of money. But the price for membership seems a little extreme. In order to participate in XP Mining, you are looking at investing anywhere from $120 to $10,800. Just where does this money go? Most likely right into the bank account of the site owner.
While it may seem like a good way to invest your money, you might want to steer clear of XP Mining.