Mining Labs is a platform that claims to undertake mining services. Unfortunately, this is another pyramid scheme that you should watch out for. They allegedly have put up a mining venture using the latest technology and equipment.
The company attributes its success to these features and states that they have been able to acquire profit despite the market nature. They encourage investors to join their platform to earn digital currencies without experiencing any hitches and forget about bad mining practices.
Mining Labs state that they only mine the best currencies, and they monitor their mining pools around the clock. Through venturing with them, you won’t encounter any losses.
A lot of information is missing from their website. Mining is not an easy task as these pyramid schemes put it, Cryptocurrencies are highly volatile, and the prices keep changing.
Mining Labs has not verified the business model that they incorporate or how they manage to offer vast returns than their competitors. Invest only with the best mining platforms in the industry.
Mininglabs.io claims they utilize the best mining technology that enables them to optimize energy consumption. They use SHA-256, Scrypt, and ETHASH algorithm to mine various digital currencies.
Additionally, they claim that they have a professional team that handles their mining activities. Mining Labs state that they make mining strictly profitable.
The platform state that their clients can monitor the mining activity at any time. Mining Labs only claim that they have 7 data centers and in 8 various areas. The information that they have is inadequate; the company does not care to show why they are the best choice for investors.
With the basic data on their platform, it will be hard to create confidence with the public. They do not disclose the hardware that they use in their mining activities.
Regulation and Customer Support
Mining Labs claims they are a private legal entity, and they are registered under the company number 12522397. However, there is no evidence of them being a regulated entity.
What pyramid scheme does is confuse investors with regulatory documents. There is a big difference of having registration forms and having a regulatory certificate.
The registration forms are easily accessible, and they are also very cheap. The legit investment entity needs to acquire a license from the FCA in the UK for them to operate legally.
Mining Labs does not possess such materials, and it is clear they are operating against the law. Venturing with such a platform will put your personal information and your money at risk.
The shady company claims that their office address is at 71-75 Shelton Street, Great London, London, UK, WC2H 9JQ. It is difficult to verify if this where they are located.
The only available method that you can contact the support system is via email; [email protected] Mininglabs.io does not offer telephone support to investors.
Email is not a convenient method of communication. For the sake of your money, you need to have instant feedback. You might have to wait till eternity for your
They are trying very hard to remain anonymous, considering they have not availed any data on who is the owner of this website. Without providing the above info, it will be difficult for any government to trace these scammers.
Mining Labs Affiliate Program
Mining Labs encourage users to utilize their affiliate program. They assure investors that they will earn more income with more references. Clients will receive 10% from every referral they manage t sign in the company.
Keep in mind that pyramid schemes use the funds of new members to pay out their pioneer investors. Once there is no money coming into their website, their system will collapse with your money in it.
The commission they assure clients of is very enticing. However, you may never be able to withdraw your earnings. You can only see them available in the dashboard.
You may come across adverts promoting this website, but without evidence of payment, you should not trust blindly. The company is one shady platform that you should approach with caution.
Mining Labs Contracts
Mining Labs claims they offer free mining to investors who necessarily have not invested in their platform. The company has various plans that are offering various amount of returns.
They have a total of six contracts that target all classes of investors. All the plans run for six months. There is no evidence of investors receiving earnings from this company.
Hence trusting them with your money will be an unwise decision. The least amount of money that you can deposit is 0.001 BTC. The highest-earning that they promise investors is 10 BTC in 6 months.
However, they do not disclose the least amount of money that you can withdraw. The earnings that they promise investors are ridiculous, and you should ask yourself why is the platform offering something very high than other companies.
Testimonials used to be a method that investors could trust. Sadly, currently, pyramid schemes have become smarter, and they are manipulating the reviews that are meant to create transparency with investors.
Testimonials are now bogus and cherry-picked. If you pay attention to Mining Labs reviews, you will realize all of them are praising the site. There is not even a single negative review.
There are no social media links attached to these testimonials; hence you cannot prove they are coming from real investors. Moreover, there are no screenshots to verify the reviewer has earned from Mining Labs.
The platform only wants to create false transparency and appear as a legit company. Unfortunately, they are nothing but an incompetent mining company.
How Safe and Secure is Mining Labs?
You need to know if a platform is secure before you give them the benefit of the doubt. Mining Labs is not a safe company as it will compromise the safety of your funds as well as the personal data you trust them with.
The area they are venturing in is in no doubt, profitable. However, you cannot make tremendous earning overnight by just sitting. They are not licensed by any financial watchdog on land to carry out their services.
The banking information where they safe-keep users funds is also missing. They feature fake testimonials on their website. The company is trying so hard to remain relevant at all costs. The platform is an offshore industry that shamelessly lies about its location. It also offers a lucrative plan, and affiliate program which should not push you to trust them.
The Domain Insight
The official domain name of this company is Mininglabs.io. It was registered in March 2020 and will expire in the same month the year 2021.
Additionally, they have very high traffic coming into their website. According, to Alexa.com, they have a global ranking of 31,105. They target their audience from Cuba, South Korea, and Brazil.
Mining Labs Final Verdict
Mining Labs is a platform that has numerous red flags that is hard for us to endorse their services to the public. The owner of the company is operating anonymously, and they are no transparency in their alleged mining activities.
Investment is a serious venture, and you should only venture with credible, trustworthy companies that has a financial history. Moreover, they falsely claim they have been in the market for 2 years; any other information they display is discredited.