No one likes to lose money, so I’ve been hard at work analyzing websites that claim to offer investment services.
The site I’m going to review next is Watermine.io. If you need an honest Watermine review, you have just come to the right place.
When you are just starting out to invest online, there’s a good chance that you’ll be making several mistakes. And that is why you need to be guided so you don’t make any mistake.
There are a lot of scam websites out there. Some look so legit that it is difficult to tell if they are a scam by merely navigating the websites.
My review is created manually using different data points and my personal experience on the site.
Without wasting much of your time, let’s dive in.
Company name: Watermine
legal Name: Watermine LTD
Registration Status: Active
Registration number: #12731702
Address: 31 Lonsdale Road Queens Park, London, United Kingdom, NW6 6RA
Incorporated date: 9 July 2020
I could not find any information about who owns or runs Watermine Ltd on their website.
When I checked the information about the domain (watermine.io), I found the domain was first registered in July 2020 and that it will expire in July 2022, which is less than 2 years from the day this article was published.
As always, if a company’s domain has a short life span and the people who own or run it are not openly known, think long and hard about joining and/or handing over any money.
Watermine does not have any retail products. They claim the company makes profits by mining cryptocurrencies. This claim has since been proved wrong since there is no evidence that the company is actually mining cryptocurrencies. Cryptocurrency mining is a transparent business in the sense that it is easy to check miners on the blockchain and see the blocks and coins they have mined.
I tried to check Watermine on several blockchain networks and could not find any information about them. A company that controls over a billion-dollar investment as Watermine claims should be among the top known crypto miners in the world, but the reverse is the case here.
Watermine’s Investment Plans
In general, investors are presented with up to 8 plans (a typical Ponzi structure) with a gradation according to the amount of investment, on which the percentage of profitability ranges from 2% to 2.6% per day. The minimum deposit amount is $ 10, the number of active investments is not limited. The term of the investment is 3 months.
Watermine’s Compensation Plan
Watermine offers a 4-level referral program, 8% for the first level and 6% for the second level, 4% for the third level, and 2% for the fourth level of the deposit created by your referrals.
Watermine’s investment platform can be joined by visiting their website and creating an account with them. The minimum deposit is $10
Is Watermine Legit or Scam?
Wattermine has been proven to be a scam, a typical Ponzi scheme that is currently not paying.
Should you go by Watermine Trustpilot Review?
When I searched this website online, I found that they have a lot of positive reviews on Trustpilot. While these reviews could suggest that Watermine is legit, I dug deeper and found that those reviews could be fake and that the only few negative reviews they had are actually the true reviews from users whom they might have scammed. If a website is buying fake reviews to influence their Trustpilot score, it is not always had to spot. If you dig deeper, you must find one or two reviews from those that they might have scammed, and those are just the only true reviews you can count on.
From the few negative reviews I gathered from Trustpilot which obviously are the only legitimate review we can count on, Watermine is a scam and it is currently not paying.