There are millions of web pages launched daily and many of them are competing for the attention of readers. A good fraction of those are investment sites such as Mastercoin Pro which is supposed to be a cloudmining operation with which investors could purchase hashrates and make some profit.
The problem with most investment-based cloudmining operations such as this is that there are no guarantees that the owners are actually involved in mining operations. Even if they are, there is no certainty that they are making profit. If they do, there is no guarantee that such profits are sustainable. If it is sustainable, why would they share it with you?
These are some of the challenges associated with cloudmining investment sites which have continued to be an albatross on the cryptocurrency ecosystem.
In this post, we shall look at Mastercoin Pro to determine if this is an investment site that passes the basic test of reliability that would warrant investing on it.
What is MasterCoin?
This is a site that claims that it is a cloudmining operation that generates high returns on the investment of the users. The company is supposedly registered in the UK with an office address displayed at the top of the site.
According to the site:
“MasterCoin was created by a group of enthusiastic professionals. We were united by a common goal – to create a powerful cloud service, with the ability to mine cryptocurrencies for every inhabitant of the Earth.”
However, we could not prove that the address is houses a mining company. What we found out is that most of the claims made by Mastercoin are unsubstantiated. Moreover, the information provided on the site did not represent what a reputable company should exhibit as we shall see briefly.
Use of Monero Icon
Every reputable company is aware that infringement of property and intellectual rights is a serious offence. So what impression does a company that uses the logo that is associated with another entity create? This is the case with Mastercoin which used the Monero logo on its site. It is easy to deceive users that are not conversant with the coin market but experienced community members would not be fooled by this misrepresentation.
It is obvious from this act that the people behind the Mastercoin site are not law-abiding. The implication of this is that your funds will not be safe with them. People who cut corners in little things will certainly have no misgivings doing something illegal such as stealing investors’ funds.
Identity of Director Shrouded
Every genuine investment site lets the public know who the owners and operators are. This is especially so if such companies use public funds for operation. It is commonsense that people expect to know who they are sending their funds to since it makes no sense to send them to strangers or people whose identities are not known. Doing this means that the investor has no one to hold responsible if something goes wrong.
A background search shows that the director of the company is Lisa Maddock. However, that is where the trail went cold since there is no evidence that she is a real person. A LinkedIn profile that has been created for her has no photo, no contact and is so very recent as if it was created for make-believe purpose.
Is This Hype or Baiting?
The Mastercoin Pro site was designed like an ICO site, complete with a countdown timer to create a sense of urgency for the prospective investor. Also, the supposed roadmap is more a less hyped to give the impression that the company is already making a lot of profit and signing up would give the investors a share of the pie.
Here is a section of the roadmap:
“After making the first profit, the company began to look for ways to increase revenue for customers. With the help of a developed trading system, income increased 3 times.”
You can deduce from the above that the site migrated from its claims of mining to trading and quickly “tripled its income”. Wouldn’t you be skeptical of a new business that tripled its capital months after switching to a field it had no expertise in?
It further claimed that:
“After setting up the system for increasing revenue, our IT specialists developed the MasterCoin.pro website, which made it possible for everyone to earn on mining.”
You can see that the setting up of the so-called “system for increasing revenue” seems so easy as if they’re picking berries off the shelf of a supermarket.
From our experience with sites such as this, the hype is just a ploy to get people to believe that an investment with this site would quickly earn them automatic ticket to wealth.
High Yield Investment Site
The site promises to pay its investors up to 6 percent of their investments daily. You can bet that this is practically impossible to accomplish. This is just a ploy to get the investors to make investment deposits for which they may never get returns. According to the Securities and Exchange Commission (SEC),
“SEC and CFTC staff have recently observed investment scams where fraudsters tout digital asset or “cryptocurrency” advisory and trading businesses. In some cases, the fraudsters claim to invest customers’ funds in proprietary crypto trading systems or in “mining” farms. The fraudsters promise high guaranteed returns (for example, 20-50%) with little or no risk.”
With Mastercoin Pro offering ROI of up to 180 percent a month, you should know that this is a highly suspicious cloudmining service that classifying it a scam wouldn’t be out of place.
Genuine investment sites generally would not promise you overnight riches, but what they promise, they actually deliver. Everyone knows that investments have risks so it makes sense never to invest with random and unknown sites but reputable ones whose managers and owners are known. Such sites are registered and regulated so the risks are lower and the prospect of making gains higher.
The site we recommend to investors is this one that would help the investor have the same result as what professional traders get. This is accomplished through a copy trading system that works at the flick of a switch.
What is your opinion about Mastercoin Pro? Please share them using the comment box below.