Cryptostar is a platform that markets itself as a top-notch mining website. The platform claims to offer its users a great User experience interface, and all you need to do to get started is; sign up, create a profile, select the coin you wish to mine, and finally make a deposit. The website, at first glance, looks legit and does not raise a lot of red flags.
Cryptostar claims to have a dedicated team of experts working behind the clock to keep the company running. It offers investors a promise of reasonable daily return on income, offering bonuses when you sign in, and occasional bonus when you mine. The website states that they aim at being fully transparent and making mining convenient and accessible to everyone.
Mining used to be a profitable venture, but it is not a get rich scheme. Recently, the crypto space, specifically mining, has become saturated with an increase in the number of large scale miners. Mining involves numerous expenses and risks, and the company only charges 1 % to offset the cost.
Cryptostar claims to be a cloud mining service that provides investors a safe and easy way to buy hash power eliminating the need for complex software and hardware. The website claims to be operating across the globe and without any discrimination for its investors, yet there is no information on who they are.
It claims to be an industry leader with the best mining infrastructure, algorithmic trade network, and proprietary mining software but fails to disclose any information on their office location, mining farm location, mining pools, or even their servers. The company does not have concrete assurance or any form of evidence to back their claims and only state that they are reliable.
The cloud mining website has a calculator to help its investors show the projections of the profit to be earned, depending on the money invested. The platform sells 200 GH/s of hash power at $16 with an expected income of $0.02 daily. It becomes hard to make a lucrative profit with a small investment.
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Cryptostar claims to guarantee 100% uptime, meaning clients will never lose any time when mining because of issues such as complete breaks, network buffering, slowing down, or hardware crashes. The platform states to have an algorithm that ensures miners are sent to other mining pools to compensate for all hash power losses.
The company does not state any draw-downs, and the company has mixed reviews with some investors firmly saying the site does not pay. You should always invest in profitable crypto mining companies in the market.
People behind Cryptostar.asia
Cryptostar does not provide adequate information on the website and operates anonymously. The company does not have a social media presence despite the company’s claims. The company claims to have an expert team with extensive knowledge of the cryptocurrency sector and which specializes in building and providing reliable and efficient mining hardware and software.
The platform also claims to be professional and a top-notch crypto mining platform, but there is no information concerning the founder as well as the team. Additionally, the company does not have information on its performance, the physical address, and mining pools or how it operates.
If the company were legit, they would strive to remain transparent and have information on its staff as well as links to their professional social media handles. With this level of anonymity, you have no chance of following up on your money if they exit the market.
Investment plan and returns
Cryptostar claims to be an easy to use cloud mining website made for both small and large scale investors. The website offers its clients the opportunity to mine up to 1500 different crypto tokens. The company promises users that there are no hidden charges involved in their transactions or their website.
Cryptostar does not have much information about how they conduct their operations. Their website is relatively decent, and it has the term of service information, an FAQ page as well as a few contact information details.
Cryptostar offers its new investors coins as bonuses for signing up as well as a 28 GH/s hash rate. The company sells 200 GH/s hash rate power at $ 16 with a daily income of $ 0.02 in mining Bitcoin. The platform also has a revenue projection calculator, which can be used to calculate daily or weekly expected pay, depending on the cryptocurrency used.
The website does not offer unrealistic returns, but the price is also set to a situation where you need more investment to get a substantial return. Thus it is not a lucrative investment for small scale users. Returns are not fixed and are very dependent on the quality of the network, as well as the price of the cryptocurrency you are mining.
Cryptostar has a maintenance fee usually charge 1%, but it will depend on the product, and the cost will be shown on the invoice. The maintenance fee is charged to cover for operating costs involved in mining, such as work hosting services, cooling, maintenance work, and electricity.
The maintenance charge is deducted from mining rewards. The minimum amount that you can withdraw is fixed at $ 100 for all coins. The company has received mixed reviews, and many people claim that they have invested in the company for a while but have never been able to make withdrawals.
Regulation and Customer support
Cryptostar does not display any incorporation document or a license on its website, and it is operating illegally. For a global company involved in cloud mining and trading they must adhere to strict measures set up by different Governments. It is essential to be careful of unlicensed companies because the safety of your funds is always at risk and the website also risks criminal prosecution.
Cryptostar states on its website that customer service is one of their highest priorities. The platform has an email address as their only contact information, and you reach them via [email protected] The company does not have any additional contact information like social media handles, live chat, or even a phone number, which raises a lot of red flags.
The Domain insight
We researched and gathered domain information regarding Cryptostar at Alexa.com and Whois.com. The website domain name is cryptostar.asia, and it has an Alexa Global Ranking of 155,069. The target audience of the platform is currently unknown. The company domain was registered on November 20, 2017, and will expire on November 30, 2020.
The safety of funds is not guaranteed at cryptostar.asia. They appear legit on paper, but on close investigation, there are red flags that cast some doubt on the company. Anonymity is not a desired trait for online investment ventures. You have a right to know whom you trust your money with and if they are qualified.
The company is also operating illegally with no official incorporation documents or licenses. You should research and invest in legit crypto mining companies in the market.
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