|Founded||January 11, 2020|
|Founder||Gonzalo García Pelayo|
|Headquarters||Lõõtsa tn 5-11, 11415, |
Mind.Capital, also known as Mind Capital, is a platform of Spanish origin and based in Estonia, dedicated to buying and selling in the cryptocurrency exchange market, also considered as the world's first CRYPTO-FIAT arbitrage platform. It was officially launched in January 2020 by its creator, Gonzalo García Pelayo, a famous expert in game statistics.
The company specializes in currency-based operations such as Bitcoin, Ethereum and others, and it has generated user interest due to the popularity of its CEO and founder García Pelayo. García-Pelayo argues that virtual currencies have "inconsistencies" in prices with legal tender currencies, and that the technology applied by Mind.Capital detects the differences in the price of each token compared to the different currencies. Since its launch in January 2020, Mind Capital has attracted wide attention, garnering both positive and negative reviews by savers and small investors, and even some controversy regarding its business model.
Mind Capital, initially named Eurocoin, caught the attention of the media even in its development stages, as it was closely asociated from the start with the name and life story of its founder and CEO-president, Gonzalo García-Pelayo Segovia, who has a diverse and multifaceted background as a well-known film director, TV host, music producer, professional gambler and games expert, as well as sponsor for professional poker players. But his great leap to fame came when he developed a legal statistics-and-betting system that allowed him to win more than 1.2 million euros in the game of roulette, in the early 1990s, with the help of his family. García-Pelayo is currently remembered throughout the world for having made "jump the bank" in different world casinos with the mentioned system. During the 1990s, "the Pelayos" were the public enemy of different casinos inside and outside Europe. His formula led them to earn as much as 13 million pesetas in a single night, something that did not sit well with some of the big casinos: in Las Vegas, the group was even threatened at gunpoint to stop them playing.
The impact of his actions were such that even a Spanish biographical film based on his life was made: Winning Streak (a.k.a. The Pelayos)', released in 2012 and starring Daniel Brühl and Lluís Homar.
Years after making the headlines, Pelayo and his family chose to bet on online poker, launching an academy where they explained new methods that helped win it. One of his school's apprentices, Carlos Mortensen, became a poker world champion in 2001, sponsored by Pelayo. However, according to Pelayo, the new gaming regulations were limiting the profits, and as a result "all the good players we had decided to leave". As of 2017 Pelayo is still banned from entering casinos in France and Denmark.
It took Gonzalo García-Pelayo almost three years to step into the market with Mind Capital since its original inception, after analyzing the operation of cryptocurrencies: in October 2017 García-Pelayo Begins to take an interest in how cryptocurrencies work, studying how to obtain returns through them. In September 2016 the trademark was registered and in January 2017 the company name, Eurocoin Broker S.A., was registered. The company, led by Herminio Fernández de Blas (a man who has been involved in the world of the digital economy for years), initially had more than 1,000 clients and business lines opened in more than 30 countries. However, it was calculated at the time that only in 2018 would Eurocoin be released as a new currency.
After numerous tests Pelayo, together with a group of experts, discover in March 2018 that there are inconsistencies between the movement of crypto assets and the price of different currencies. In April 2018 Pelayo, accompanied by a group of mathematicians, engineers and analysts, began to develop an algorithm for tracking yield-based investment opportunities. After 13 months of testing, in May 2019 work began on the development of the platform, with accesibility to any user as its ultimate goal. The platform hired a US company in August 2019 to integrate Mind.Capital with the Blockchain technology, and in September 2019 the platform was adjusted so that investors could see its real-time operations and the advance of their returns. In December 2019 Mind Capital opens its offices in Madrid, and in January 2020 the platform was officially launched to the general public.
Unlike other cryptocurrency exchange platforms, where investors open their purses and carry out the operations of buying and selling cryptocurrencies, Mind.Capital promotes itself as a high-tech platform that only tracks "opportunities" through its algorithm, which utilizes a system of search for inconsistencies between the prices of different crypto assets and the different currencies; it offers the prospective of buying and selling according to the results of that automated system, with the idea of making a profit when the market is bullish or bearish.
The company maintains that what differentiates it from other cryptocurrency trading systems is its aforementioned algorithm program for detecting investment opportunities in crypto assets. Users can become investors in the virtual currency market by opening an account at Mind.Capital and a minimum investment amount that allows participation of small savers in this type of market.
Mind Capital has developed for its users its own kind of token, called MCcoin, that has a price of USD 1. When a user logs in they become an investor in Mind Capital and can automatically buy a minimum of 40 MCcoin; the clients' account will grow or fall according to the result of the operations carried out by the company. The system it uses to track investment opportunities in crypto assets is based on division technology "Blockchain" which, according to the company executives, offers security to investors.
Mind.Capital has garnered fans and detractors. Among the first are users/affiliates of Mind Capital who find it helpful, or cryptocurrency reviewers whose contention is that the platform's earnings "are constant, although not high". Others maintain that the program has allowed them to intervene in a growing market, but that is unknown to most.
Controversy and scam allegations
On the other hand, its detractors criticize the fact that Mind.Capital operates without authorization from the Securities commission (Comisión Nacional de Valores) of Spain, since in most countries trading in the crypto market lacks regulations. Although this fact itself may not be considered a scam, it is controversial and addresses the ongoing debate about cryptocurrencies, whose trading has jumped in volume and invested capital since 2017 (when Bitcoin saw its share grow); the growth of the different virtual currencies has also been exponential and it has moved different countries to take regulatory measures for their operation. However, so far there are no specific news about a legal case or legal complaints regarding the operations of Mind.Cpaital.
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- Is it luck or the halo effect?
- Mind Capital: 2020 Views
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