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Minelab is a Crypto MLM product and service platform promising daily guaranteed 3% ROI. Here’s our candid minelab.bz review.
Just a few days of its existence, Minelab is at the very first stages of its product and service project. And investors are trickling in buoyed by the high daily ROI margins promised. Is Minelab.bz a worthy cloud mining and MLM platform to join?
We don’t think so, and there are valid reasons why we insist Minelab is a high-risk no no-reward investment project. With such projects in the past, they went to six months before collapsing. And we have a detailed timetable of how Mine Lab works.
It all starts with the platform’s allure of offering daily guaranteed investment margins. And how does Minelab achieve this fete? It’s aided by cloud mining operations which from where we stand, are non-existent.
The lack of clear information on their cloud mining facilities is one of the red flags with this platform. There’s a lack of accountability and transparency with this project. And that’s why we must draw the line when it comes to such projects.
Cloud mining is a lucrative way of earning passive income if only you signed up with legit and tested platforms. Minelab is not legit and doesn’t have an ounce of compliance from any jurisdiction in the world.
Here’s our candid Mine Lab review for more.
Even the promotional side of the platform sounds off. The platform claims you can mine ‘famous’ crypto coins with ease. Do they mean leading or lucrative cryptocurrency coins? There’s no mention of these coins anywhere on the platform.
The platform targets UK investors looking to join the lucrative cloud mining operations. Dozens of naïve investors have already signed up with the platform. There’s even a withdrawal widget notification on the website popping up every now and then.
What’s the need of notifying withdrawals from investors if the platform does indeed deliver? We have seen such antics before in the Crypto MLM product niche and it rarely ends up well for investors.
And that’s why we have to expose the platform for failing to offer solid investment options. The platform claims to offer hashrate to users for a chance to mine BTC, ETH, or USDT. What’s more is that they claim to be the world’s first AI-backed crypto cloud mining company.
Members get a promise of receiving diversified mining services, good customer support, and instant withdrawals. And yes, during the initial phases of the project, customers do actually withdraw from the platform.
What you’re withdrawing is not the actual ROI, more on that later. The platform uses a deceitful method to ensure you are glued to the platform. Apart from earning passive income, there are bonuses and commissions up for grabs.
Once you become a member, the platform gives you an option of earning bonuses and commissions. All you have to do is enlist family and friends to the platform and earn the listed added bonuses and commissions.
Minelab Ltd is the parent company owning Minelab.bz. What investors don’t know is that the parent company is a known and verified cloud mining scam platform. Minelab Ltd went offline June 2023 with investors from Pakistan and Thailand losing their account balances.
Now, the platform has come back with the same product and service, but a slightly different approach. That’s why we have to issue an alert for those thinking the end result will be successful.
Here are the risk factors making Minelab an anonymous crypto cloud investment platform. Accountability and transparency are what makes this platform a huge high-risk investment option.
There’s little information on the cloud mining project itself. The platform fails to name any location or even images of their cloud mining operation base. We don’t have the full names of the CEO or CTO of the platform.
Lack of accountability and transparency should be the first red flag to be wary of such projects. A true and legit crypto project will shed light on the project including the team members. We are sure the platform doesn’t even have any ASIC miner available for mining listed coins.
Even with cloud mining projects, there’s no such thing as guaranteed daily profit margins. You would expect the 3 percent listed ROI to be the overall profit after mining for three to four months.
And withdrawals would only be possible weekly or monthly, not daily. With volatility in the crypto and other markets, it makes such claims false. There’s also no Blockchain data to verify the platform does actually mine coins.
Where’s the verification of mined coins as proof of concept from Minelab?
Let’s give you a deep dive of what to expect with this platform, nothing but misery at the end. So what is this withdrawal some clients are having? That’s where things get interesting with this project.
After depositing funds, the platform moves money from one account to the other depending on number of signups. If there’s a high number of new members, the platform ensures you withdraw part of their deposit.
If the number is low, the platform allows partial withdrawal of your initial deposit in stages. It gives the allure the platform does offer daily profit margins. And this ensures members believe the platform actually works and they begin enlisting family and friends.
Once the signup numbers dry up, the platform moves to the next stage of the funnel. You get an email claiming you have successfully qualified for the next stage. And this means earning more than 3 percent in daily returns.
Your next move is to add funds to start the second phase with the remaining balance compounded to this tier. You will notice the platform won’t allow investors to withdraw the full amount on their balance.
At this point, the platform knows either you’re all in or all out. Minelab then moves for the kill by shutting all access to the account. That’s how investors lose funds and eventually help the platform earn more with the referrals.
With the previous Minelab Ltd project, UK investors started raising serious concerns over withdrawals. And that’s the same case happening here as the platform fails to offer much in terms of accountability.
In a few weeks’ time, other investors from Asia especially Singapore will come out as they are the main targets. Once there are numerous calls demanding funds from the platform, Minelab will shut down the minelab.bz operation.
That won’t be the end of this platform, after a while, they might pop up using the same name or investment strategies. And when they do, we will be the first one to expose them and warn naïve investors of the risks involved.
From where we stand and based on the earlier projects, Minelab is a wash and rinse project. Those who invest will surely lose a large chunk of their investment while withdrawing only partial amounts.
That’s why we insist you must stay away as Minelab is a high risk no reward cloud mining and MLM project.
Failure from previous such projects is what makes this platform a high risk investment option.
Indulge in transparent cloud mining projects tested and proven by the mining community.
Do leave a comment or email us with any queries.
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