CoinAppetite

Is Minttos.com HYIP – A Scam?

I have known about Mintos.com, the reputed online global market for loans. So, when I came across Minttos.com, my first reaction was to shake my head, clear my eyes and read the name again.

At a cursory glance, the double “T” in Minttos.com HYIP can easily escape you; if anything, both brands operate in the money lending space, albeit the latter specializing in assets derived from cryptocurrency holdings.

However, the former has a reputation that spans more than a decade, and the latter, a few months of murky transactions that may soon send it out of the internet.

Having noticed the intentional anomaly in the naming, I started on a due diligence process. The first stop was the site verification platforms. In this instance, I used Scamadviser, a scam advisory tool on the internet that warns users of sites that swindle online prowlers. The tool brought back 100% approval score for the genuine site Mintos.com, and 0% for the scam and imitation that is Minttos.com!

Minttos.com HYIP Dissected

Aside from giving Minttos.com a low rating, the site verification platform highlighted a few usual red flags about the site. These included the website setup, which involved three countries, and a high number of suspicious sites on the same server hosting Minttos.com HYIP.

Minttos.com wants to pass off as a loans marketplace. The premise of the site is to bring together investors that want to earn a passive income from their money by loaning it to businesses and individuals that need it.

Investment plans

The platform purports to offer the investors with plans that let them put in varying amounts of money for differing portions of the profit the company makes. If you, for instance, put in between $10 and $99 for 30 days, you stand to get 1.3% per day, which comes to 39% for a duration of 30 days.

The firm’s other plans are:

  • $100 – $599 with returns of 1.5% per day and 45% for the monthly tenure.
  • $600 – $1,499 with 1.7% returns per day and about 51% per month.
  • $1,500 – $99,999 raking in 1.9% per day and some 57% for a month.
  • $100,000 – $500,000 that brings in at least 63% in a month and 2.1% per day.

All these plans look good and simple; they are even plausible. However, a close scrutiny of the website and its activities reveals that it is not possible to get enough profits from the loaned out cash to guarantee the kind of returns it promises its investors.

Deposit Bonuses

Seemingly, financial plans are not the only way to “make” money on Minttos.com. The platform purports to give out loyalty bonuses to uses that complete a deposit. The said bonuses meant for reinvestment are “given out” as follows:

  • $5 deposit attracts 3%
  • $10 begets 5%
  • $30 attracts a loyalty bonus of 8%
  • $100 gets 13% or more.

Minttos.com Affiliate Program

This platform runs a tripartite affiliate program that rewards users with payments for every deposit made. Under this scheme, the first party earns 7%, while his or her referrer gets 4%. The third party on the chain gets 2% of the deposit.

The Disconnect

With all these giveaways and just from the earnings on the loans, not much really adds up. Say, for instance, that a user deposits $100 and the platform loans this amount out at, say, an interest rate of 13% per annum, it will make only $13 on the principal amount after one year. And, that is before you factor in any operational costs.

If you put in a similar amount in the platform, you get the promise of earning $1.50 each day, which compounds to about $550 per year. This math is not a reflection of the model proposed, unless the platform has charity money they are dishing out. And even if that were the case, they have not explained this in the FAQs and the source of these monies if they exist. In fact, the site is very unstable and lacks believable content.

Why Minttos.com HYIP Reads Like a Scam

There are many red flags about the operations of the Minttos.com platform that do not add up from a monetary point of view. Firstly, it is impossible to attain the ROI it promises from the business model it purports to employ.

Secondly, the platform gets user deposits mainly in form of cryptocurrencies. Knowing just how volatile these digital assets are, receiving capital mainly in this form presents another avoidable risk that the platform seems not keen to eliminate.

The payment and benefits structure is not justified, at least from the earnings that can be verified from the business model. It is, therefore, safe to assume that Minttos.com is a scam.

My Verdict

The cryptocurrency space is littered by a myriad of scam, just as it also has many legit businesses including High Yield Investment Programs such as Minttos.com purports to be. However, the business model that Minttos.com presents to the public exhibits a disconnect especially with regards to the ROI it wants the public to believe it can rake in. Users that buy into the program, as such, should know that they stand being duped!


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Daniel Ayuko