Ostmine Review _ all the official website, ostmine.com, shows is a sign-up page without sparing a bit of space for Company Description. But trust PRs to do the explaining to get people to click on their affiliate links.
One site says that Ostmine lends out Cloud mining rigs at the price of membership subscriptions. Members with valid subs can earn returns (supposedly realized from the cloud mining business on the backend) depending on their affiliate tiers. The model has been claimed for the brand under different company names.
Whether the correct name format is OST Mine or Ostmine, the .com domain is a direct portal to the site’s registration page.
Here is the gist, though.
You can earn ROIs on the strength of a random PR moniker online, while the backend is only an MLM bonus grid template. (We will explain how this works later)
Alternatively, Ostmine might actually have a legit facility generating enough returns to power the company.
Regardless, you can’t be too careful with high-yield ROI peddlers, especially after ripoffs like Rackstaerli and Norderworks. People are on cue, and every sliver of MLM thread in Nigeria deserves a bit of cynicism.
Not that people can’t make passive profits from decent savers like Piggyvest. But most people prefer those places that offer the biggest plums at low expense. Earning high ROIs on low investments in a short period is exactly how an HYIP works.
Here is what the US SEC has to say about HYIPs and their variants.
Anyway, our Ostmine Review highlights some profit options in this scheme. Read on below for details.
Ostmine Review: How to Earn on the Site
It is assumed that OST Mine generates profit from these channels outlined below _
- Industry-leading tech (although this promoter didn’t go into specifics);
- Mining Power (supposedly a crypto mining Pool); and
- Wide application.
In turn, the facilities and other fronts run by the execs should generate stable and continuous income and a low-risk high ROI per affiliate tier. The preferred withdrawal option is via USDT.
As mentioned previously in this Ostmine Review, all these talks of letting mining spaces wind down to ROIs retrievable per valid investment period. You can see the affiliate compensation plan below.
The minimum deposit is $12 which earns you $30 (40% ROI) after thirty (30) days.
1 year (valid for 365 days period at $1000) _ earns you $11 per day
900 dollars (365 days) _ earns you 10 dollars per day
800 dollars (365 days) _ earns you 9 dollars per day
700 dollars ( valid for 365 days) _ earns you 8 dollars per day
500 dollars (valid for 365 days) _ earns you 7 dollars per day
150 dollars (valid for 90 days investment period) _ earns you 7 dollars per day
50 dollars (valid for 60 days’ investment period) _ earns you 2.5 dollars per day
30 dollars (valid for 60 days’ investment period) _ earns you 1.25 dollars per day
20 dollars (valid for 45 days’ investment period) _ earns you 1.2 dollars per day
12 dollars (valid for 30 days’ investment period) _ earns you 1 dollar per day
Checking for ROI consistency, top-tier $900 and $800 (both divested over 365 days) investments gross 1.11% and 1.125 % ROIs respectively, meaning that the scheme isn’t steady after all.
Further, bank and USDT withdrawals are pegged at $3 and $1. Below is another profit option on the site.
Bonus Cycles (Unilevel Grid)
Our Ostmine Review found the typical MLM bonus grid (uni-level matrix) on the PR site (recall that the ostmine.com is a mere Login page).
Below is how it works.
MLM uni-level structures allot the top position to an affiliate upon registration. The affiliate can start other levels by personally recruiting members to Level 1. Similarly, Level 1 affiliates start Level 2 by recruiting people to buy membership packages.
Each member in every level is part of a branching lattice, which continues down an infinite level.
Our Ostmine Review finds that the platform only pays down three Levels from the top affiliate, attaching weighted profits to the downline volumes. Below are the percentage returns per referral tier.
2% on Level 3
5% on Level 2
10% on Level 1
To join the company, pay the minimum membership deposit of $12.
See the red flags we found about this company.
Red Flags _ Zero Proof of Backend Investments
The best way to pitch to a buyer online is to provide at least one verifiable proof that the product is legit. Another way of doing this is to chronicle experiences and share them as testimonials on a website.
Search Ostmine.com. Nothing about any tangible investment goes on offline. The company only declares it is letting cloud mining rigs. Ergo, people start throwing their money into the business.
Nigeria has a ready sample of busted scam platforms, some of which come from Europe (MMM) or maybe South Africa.
Recently, the Nigerian Sec warned about Pilvest, alerting people to the shady deal touted as passive profit goldmines to Nigerians. Wales Kingdom Capital ran bankrupt (or simply bilked funds and ran away), leaving investors distraught in its wake.
Our Ostmine Review notices one trend with these mountebank ROIs. That is that they have zero investments on the ground.
Take away the current ROI fad, and OST Mine becomes very like the rest of the crop in the aftermath.
Moreover, if a company offers investment securities in any jurisdiction, it requires a due SEC license to operate.
OST Mine will pay returns on (investment) packages held by members for a period. Such a contract is in the purview of the Nigerian SEC, for which OST Mine should index its company brand, and business type, and provide full disclosure.
Apparently, none of these things are verifiable from the site. The Ostmine CEO is anonymous, and the company is remiss about SEC compliance.
You should think about this if you plan to invest in this scheme.
Additionally, our Ostmine Review finds unrealistic returns promised to members.
Ostmine rough-hewed the figures (1.11% and 1.12%) a bit to trail off the Ponzi marker outlined on the Nigerian SEC page below.
It doesn’t make the ROIs any realistic.
Ostmine Review _ Is it Safe?
Neither the Ostmine CEO nor the company disclosure is verifiable to the public.
But here is another nut to crack about this cloud mining jumble.
At the writing time, our Ostmine Review could not access the platform because of an IP address block, implying that the PR traction is a hush-hush VPN sidestep process. So, you’d be staking funds in the chances of earning 40% ROI from this kind of company.
The double whammy of non-compliance and IP block already make OST Mine unsafe (if only for Nigerian users). Don’t fall for the scam.