In the quest to determine the veracity of the claims made by the owners of crypto investment sites, we have come across sites that are mostly clones of other sites. Minebeast.club is one of such sites that we shall review with the intention of guiding you if you’re interested in investing in cryptocurrency mining on this site.
What is Minebeast.Club?
As the name implies, this is a site that encourages users to invest in a mining scheme, actually a cloudmining investment with the aim of earning profit through this venture. The user has to buy a mining plan that generates bitcoins for them.
On the home page, the first statement above a field where you could input your Bitcoin address states after its “Start Mining” instruction:
“Are you hunting for the best mining pool for Bitcoin? Have you ever heard of minebeast.club? minebeast.club is a platform aimed at making things as simple as possible for consumers. What you need to do is type your address for Bitcoin and that’s it. Now, you can begin mining. Get a free minebeast.club V1.0 chance to try it. If you earn more in V1.0 of minebeast.club, don’t miss the opportunity to make much more. Only update it to v1.1 and raise the incentive for the partner scheme.”
As you can see, there is a free V1.0 plan where you do not have to make any deposits to start mining bitcoins. However, this plan generates very low amounts that it is absolutely useless depending on it. So you are compelled by the circumstance to go for a higher plan where you have to pay to start mining more BTC into your wallet.
Who is Behind The Site?
Minebeast.club did not provide the identity of the person or entity behind the site. Even though the site is a clone of another similar site, it doesn’t have an About page that could have hinted on the vision or identity and intent of the site. Nevertheless, a Whois search shows that the domain was registered by Namecheap on November 3, 2021.
What this means is that this is a very new site that has not built a reputation as a mining business despite the fact that it claims that it is credible and that its 560 clients are satisfied with the quality of services provided by the company.
How Does It Work In Practice?
What we cannot say with certainty is the relationship between Minebeast.Club and the other cloned sites. It could be that these sites have a common owner or it could be one fraudster cloning their sites repeatedly because they’re too lazy to build new ones from scratch. Whatever the case may be, what is obvious is that the user is expected to buy a mining plan with the hope to earn profits from the mining operations.
Sites like Minebeast actually do not mine bitcoins because they do not have the capacity. Bitcoin miners do not move around searching for investors to send them deposits as low as $5 as you can see from the Minebeast site:
You may not require any hardware, such as a GPU, computer, mining machine, etc.
There’s no configuration you need to do and you don’t need to keep an eye on your rig. You don’t need to pay the energy bills.
You don’t need to spend in [sic] hardware like $1000, you can also start with just as little as $2.
How Reliable is Minebeast.Club?
Well, you should have guessed by now that this is not a reliable site if your aim is to generate funds from your investment. We shall show you a better alternative at the end of this review.
As I mentioned earlier, Minebeast.club is a clone of another site that is a clone of yet another site. This means that there is no originality in what the owners of this site are doing. In fact, there is no evidence that they’re actually mining.
What you have here may be another ponzi scheme that would collect your funds for the purpose of using the same to pay others with the hope that you’ll be paid with the funds deposited by others. It could be worse.
How would you feel knowing that an investment site has some wrong or misleading information on it? It would imply that the prospective managers of your funds are not well-informed about the investment that they’re advising you to get involved with.
This is exactly the scenario with Minebeast Club. For example, it is obvious that they do not know anything about Bitcoin mining judging from a statement such as this titled About Bitcoin on their site:
Bitcoin is the best mining service in the world. Our IT developers team has in-depth knowledge about bitcoin and helps others to start their bitcoin cloud mining today. We help every person to earn from bitcoin mining
The owners of the site did not even make any attempt at editing the content of the site to make it different from the one it was cloned from. This is the reason why the web copy is exactly the same with the original site, which is also a fake cloudmining platform.
Association With Scam
It is common sense to infer That if you’re associating with a scam site, that you’re also running a business that has something dubious or sinister about it. The fact that the site that Minebeast has cloned is fraudulent means that bthe intention of the owner is also fraudulent.
Will You Lose Your Money With Minebeast.Club?
Now this brings us to the issue of the prospect of losing your money if you invest with Minebeast Club. The fact is that the best this site could offer you is a momentary payment if it is structured as a ponzi scheme. If it is not, do not be surprised if you lose any payments that you send to the site.
Also bear in mind that some scam sites pay the investor for the lower plans with the hope that they would invest higher amounts. If they do, the money is seized by the owners of the fake cloudmining operation.
Assuming that you bought a $20 plan, they may pay you $25 after one day if this is the agreed rate, with the hope that you’d buy a $200 plan. If you do, you won’t be able to make a withdrawal even if you see that the agreed funds have been accumulated in your account. This is the danger of using unreliable cryptocurrency investment sites, irrespective of the promised reward.
Better Ways To Invest
There are better ways of earning with cryptocurrencies. If you intend to invest your digital assets, you can actually stake them here for reward. If you do not own any cryptocurrencies, you can also buy coins that you can stake for profit on this site.