With the ever rising interest of casual investors in the crypto world, there seems to be an increase in the number of scams popping up on a near daily basis. MinerSale.com seems to be one such a ploy, as it uses the same means that many other fraudulent businesses have used in the past.
For starters, the ROI’s presented on the company’s webpage are factually wrong, and inconceivable in monetary terms. They claim that users who invest now will receive 4-10 times their deposited value. This claim is unfounded, and can potentially mislead a lot of people.
What is MinerSale?
Miner Sale is a ‘cloud mining service’ which provides its investors with the ‘alleged’ ability to join ‘mining pools’ where they then have the choice to mine currencies such as Bitcoin, Ethereum, Litecoin, Dash etc.
In addition to this, MinerSale also claims to have an active R&D department that constantly works on providing users with advanced services such as ICOs, crypto wallets, and mining hardware sales. While it has to be said that there are certain hardware items up on sale on the website, the platform basically markets itself as a ‘mining’ service.
Upon conducting some private research we found that MinerSale.com is owned and operated by a company called ‘ MinerSale Limited’. It is active and seems to be operating out of London, England. Further investigation points to the fact that the company was recently taken over in 2017 by a Latvian businessman called Raitis Kaucis,.
However, the details are still quite sketchy and just because MinerSale is associated with a big player, does not mean that it cannot be a potential scam. According to our estimates, this seems to be a long term scheme, wherein the business runs properly for the first couple of years, and when enough money has been made, the owners leave overnight (without leaving a single trace online).
How Does Minersale Claim to Work?
MinerSale works in the classic old fashioned “deposit and forget” manner. What this means is, users need to simply make a deposit and then let their assets lay with the company. To reap benefits, all users have to do is keep putting in more bitcoin, ethereum, dash, and MinerSale will keep giving them interest returns based on the amount deposited.
At this point it would be beneficial to let people know that most cloud mining operations only obtain an annual monetary yield that lies anywhere between 25% to 30%. However, MinerSale shockingly claims to generate ‘cumulative bi-annual returns’ that lie in the territory of 400% to 850%.
The company also claims that , once our deposit has been made, their miners work tirelessly to help increase our rewards exponentially.
What Does the Crypto Community Have to Say About Minersale?
As expected, there is not a whole lot of investor feedback available in relation to MinerSale. However, there are many people who have come forth on blogs and other similar platforms claiming that there are red flags present throughout the project. Although MinerSale for now looks like it is legitimate,but based upon mathematical predictions, experts claim that there is no way to sustain this business model for even a couple of years now.
Other Things to Consider
(i) Ponzi Scheme Structure:
This business model employed by Miner Sale cannot be used on a long-term basis as it makes use of a Ponzi structure, wherein early investors get some returns, but as time goes on the entire structure implodes and collapses.
(ii) Low Online Popularity:
According to a ‘SimiliarWeb report’ it has been revealed that MinerSale currently has a global rank of 962,567. Not only that, almost 40% of all traffic that is directed to this site comes from referrals and paid sources such as adbtc.top and YouTube.
(iii) Fake Address:
The building address of MinerSale Limited is also the same corresponding building address provided for 37 other corporations.
From our end, we have analysed the data at hand and come to the conclusion that this service is not to be trusted. By doing a simple study for yourselves, readers can see that MinerSale is basically meant to target novice crypto investors.
As mentioned previously, the returns that the company promises are just not feasible, and border on outright lies. It is only a matter of time till MoinerSale gets labelled a scam, thus we would not advise anyone to go and put their money in a project that is bound to collapse anytime soon.