Welcome to the Crypto Mining Space review. Also known as CMSdata, Crypto Mining Space markets itself as a Crypto currency mining and trading operation.They even claim that CMSdata is our trusted premier mining pool platform but the problem is that their operations are suspicious and cannot be trusted at all.
The company in question had collaborated with Dragon Mining Tech, which is a confirmed ponzi scheme and a potential scam. Dragon Mining is responsible for owning a number of website domain through which they are laundering B2G coins with real money. A good example would be BTC Mining factory, which is owned and operated by Dragon Mining Tech. There are many others but we will not go into details of how many sites they actually own.
However, what is clear is that this operation owns a network of sites which they are using to reach a bigger audience on the internet.
Having said that, let’s discuss the main issues with Crypto Mining Space. The site does not appear to mine real Crypto currencies. Instead, it appears to be fooling us so we can fall for their lies and lose money. The minimum deposit is $100 and the owner is anonymous. They can’t afford to reveal any ownership information simply because their agenda is not straight.
The site has listed their address as AIA Tower, 251A-301 Avenida Comercial De Macau, Macau but we actually don’t know whether this is a visiting address. They have a chat system and an email which we can use to reach them. They claim in the ”press release” section that Dragon Mining Tech will provide 10,000 Dragon mining rigs to Crypto mining space but there is no actual evidence that Dragon Mining is a hardware manufacturing company and that it will provide the alleged mining rigs. Secondly, Crypto Mining Space is not giving us any time lines, which make the announcement vague and possibly fake.
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There are 3 mining plans which are offered by Crypto Mining Space. These include Executive, Corporate and Professional. For the Executive plan, Crypto Mining Space requires a minimum investment of $100 which shall go into purchasing B2G coins. Crypto Mining Space maintains that this plan’s operation consists of 100% Crypto mining. Apparently, mining of Crypto currency with this plan does not come with any maintenance fees. This is a red flag because no Crypto currency cloud mining operation can operate without maintenance expenses.
The second investment plan is known as Corporate and it is allegedly offering higher returns than the first plan. While the first plan offers 25% a month, the second investment plan offers 25-30% a month. The minimum deposit is $1000 and they claim that 80% of revenue will come from mining Crypto currencies and the other 20% from trading.
Lastly, the third investment plan is known as Professional and it purportedly offers lucrative returns. We are promised up to 55% a month. 70% will come from mining while 30% will come from trading.
Contract duration ranges from 30 days to 90 days but there is obviously a problem with the way these plans are being presented.
The minimum monthly returns that the site is promising is actually very difficult to earn and sustain. Even if we combined trading with mining, we would still find it extremely difficult to earn 55% and sustain that ROI in the long run. And if this site was able to trade and make this much, we are sure that they would never solicit investors on the internet to help them achieve anything. But this is not the funniest thing.
The site is working in collaboration with a well known ponzi scheme and they are creating Bitcoiin or B2G coins which they want investors to buy with real money. B2G is a Crypto currency that has almost no value. But investors are supposed to buy it will real money. This is a very dangerous thing to do because once the scam does an exit, investors holding B2G will be left with nothing because B2G is a coin that can only work within the Crypto Mining Space ecosystem.
So this means that investors will lose the monies which they originally invested in the project.
While Crypto Mining Space claims that they are trading and mining at the same time, there is no proof that these activities are taking place in the background. Let’s take the example of trading. If they are trading, it should be a simple task proving it with their trading results. They can post them or use statement sharing services like myfxbook. Also, if mining is really taking place here, the site can prove it by some other means. First of all, the kind of returns which are being promised here cannot be obtained through mining.
In our opinion, the site is is mining and paying investors in B2G coins. We have already said that this coin does not have any real value outside this ecosystem. B2G is just an excuse through which they are laundering real money in the back end so that they may not look like a ponzi scheme.
But in the real sense, they are a ponzi scheme since they have not proved that ROIs are earned through trading and mining of Crypto currencies. We’ve seen these projects before and we know their model of business. We know that most of them are unwilling to confess the kind of business which they are doing, so they resort to using worthless coins to launder real money from random investors.
Our best advice is that you should probably stay away from Crypto Mining Space because if you don’t, you will pay the cost of membership which is $100 assuming that you decide to go with the basic membership first. Even losing $100 when you could use it to trade Crypto currencies is not an easy thing to stand. For that reason, we advice that you should stay away from all kinds of ponzi schemes.
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