There is a lot of talk lately about online platforms that claim to help you make money through mining. TerraMines.com is one of the latest names to pop up, promising users a way to earn daily income by virtually participating in the coal mining industry.Â
If you are looking for a way to grow your money online, you might have come across their ads or a referral link from a friend. In this review, we will take a close look at how the platform works, how you can earn, and whether it is actually a safe place to put your money.
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About TerraMines.com
TerraMines describes itself as more than just a mining company; it claims to be a symbol of hard work and progress dedicated to extracting coal. According to the platform, their operations help create jobs, support local industries, and drive economic growth in the communities where they operate.Â
Not neglecting what the platform claims to be, the actual experience for a user is quite different. Instead of visiting a physical mine, users interact with a digital dashboard where they can purchase virtual mining machines.Â
These machines are essentially investment plans that pay out a specific amount of money every day based on the grade of the machine you buy.
How To Join TerraMines
To join, you simply need to visit their sign-up page and provide a few basic details. To create an account, you will need to enter your full name, email address, and a valid phone number.Â
You also have to choose a password of at least six characters and confirm it. There is a space for a referral code, which is usually provided by the person who invited you to the platform. Once you fill these in and click “Create Account,” you are ready to log in.
How Users Make Money On TerraMines
The primary way to earn on this platform is by spending money to “activate” mining equipment. Here is a breakdown of the different earning streams available to users.
1. Investment Gains
The main way to earn on the platform is by purchasing one of its mining machines. Each machine has a different price, and the amount you earn depends on the one you choose.Â
For example, the Pre Grade Miner costs ₦6,200 and claims to pay ₦310 every day for 35 days, giving a total return of ₦10,850. The 1st Grade Miner costs ₦13,800 and promises ₦690 daily for 36 days, adding up to a claimed total of ₦24,840.Â
According to the platform, higher-grade machines require a larger upfront payment but also come with higher promised daily earnings.
2. Referral Rewards
TerraMines encourages users to bring in others. You get a one-time 8% bonus based on the very first purchase your direct referral makes. The platform provides you with a unique referral link that you can share with friends or on social media to start building your team.
The platform also rewards users for building a team through its Team Income program. You earn a percentage of your referrals’ daily earnings across three levels.Â
From your Level 1 referrals, you receive 5% of their daily earnings. If those people invite others, you earn 2% from your Level 2 team and 1% from your Level 3 team. One thing to note is that these team earnings aren’t available for withdrawal immediately.Â
According to the platform, they remain locked until your Team Income reaches a certain amount, such as ₦7,000, before you can move the money to your withdrawal account.
How To Deposit on TerraMines
To buy a mining machine, you first need to fund your account. The platform uses a payment system powered by Korapay. You can pay using a card or bank transfer, and the funds are supposedly credited to your account instantly. The minimum deposit amount is ₦1,000.
Withdrawal Process on TerraMines
When you are ready to take your profits out, you have to provide your bank details, including the bank name and a 10-digit account number. The minimum withdrawal amount is ₦1,800.Â
According to the platform, withdrawals can take anywhere from 0 to 48 hours to process. Be careful when entering your details, as the platform notes that bank information is saved and locked after your first submission.
Is TerraMines Legit or Not?
No, the way TerraMines runs its operations gives more reason to worry than to trust it. Some of the earning claims on the platform need to be looked at more closely. One of the things that needs close attention is how it generally operates.Â
While they claim to be a coal mining company, there is no verifiable evidence of their physical mining operations or locations. Instead, the platform functions like a Ponzi scheme, where the money paid by new members is likely used to pay the daily rewards of older members.
The returns they promise are also unrealistically high. For example, the Pre Grade Miner offers a total return of over 75% in just 35 days. Genuine mining businesses rarely, if ever, offer such high and guaranteed daily returns to retail investors. This is a common tactic used by short-lived platforms to attract a lot of cash quickly before disappearing.
Conclusion
TerraMines presents itself as a coal mining company that allows you to earn daily profits by renting virtual machines. While the registration and payment processes are simple, the high daily returns and heavy focus on multi-level referrals are classic signs of an unsustainable deposit-based platform.Â
If you decide to join, it is important to know that your money is at a very high risk, and platforms like this often stop paying without any warning. Join our WhatsApp group chat or Telegram channel to learn more about online investment platforms.
