CLD Mine Review – Is It Genuine or Scam?
It is estimated that 99.9% of bitcoin or crypto currency cloud mining platforms are scams. This means that every company claiming to mine crypto currencies and requesting you to invest your hard earned cash with them must be approached with great caution.
CLD iMine is one of hundreds, if not thousands, of websites that claim to provide a platform for mining bitcoins and other crypto currencies. Hopefully, this CLD Mine review will shed some light as to whether the company is genuine or just another scam website.
What is CLD mine
The owner of CLD Mine describe it as a cloud mining service. In other words, it has computing power to mine bitcoins and other crypto currencies on your behalf. According to the website, registered in September 2015, the company has over 221 000 registered users from overs 60 countries across the world.
How Does CLD Mine Work
The CLD Mine uses cloud technology to mine many types of crypto currencies including bitcoin, litecoin, dogecoin, and a few others. As a CLD Mine investor you pay a certain amount of money to use the company’s computing power to mine crypto currencies.
In return, CLD Mine commits to providing you with a return of between 0.8% and 1.1% of the value of your investment per day, depending on the difficulty in the mining of crypto currencies. Calculated monthly, the rate of return amounts to a whopping 33% maximum per month. There is no other crypto currency mining or investment company that can offer you these high returns. The table below calculates the return on investment for an initial deposit of $1 000.
To start mining your own coins, you must buy mining power in the form of CLD units. It is up to you to choose which coin to mine.
Methods of Payments
CLD mine states that the accept many types of payments including dogecoin, litecoin, bitcoin, paypal, credit card. The info is misleading because in reality they accept bitcoins and other crypto currencies only. For other types of payments such as credit card, perfect money, payeer, they refer investors a third party to change fiat money into bitcoins or any other crypto currency. Of course, it is almost impossible to track bitcoins, which means the owners of CLD mine are going an extra mile to hide their identities.
How to Make Money With CLD Mine
There are mainly 2 ways to make with CLD mine. The first way is to buy mining power (CLD) and generate profits of between 0.8% and 1.0% per day, depending on the mining difficulty. In monthly terms, the return on your investment will be between 25% and 33%.
The main disadvantage of this platform is that you cannot sell your mining power once you have bought it. To recover your initial deposit, you will have to withdraw your profits on a monthly basis for a period of at least 3 months. The extremely high return of 30% per month is what financially savvy people refer to as too good to be true, which makes one start having doubts about authenticity of the company. Such high rates of return are associated with Ponzi and pyramid schemes such and MMM Global and Forex Paradise.
The second way to make money is to invite your family, friends, workplace colleagues or other people over the internet to the CLD cloud mining opportunity. You will paid 15% of the value invested by the people referred to CLD mine by you. This method of making money through CLD mine reduces your personal financial exposure and risk, but has the potential to ruin relationships with invited family and friends should things go south.
Who Owns CLD Mine
We know that genuine bitcoin mining companies in general do not hide company owners’ or directors details. They are usually properly registered as companies. Genesis Mining is a good example, the name and photos of the directors and the management team are post on the company’s website.
However, the availability of the owners details does not necessarily make a company genuine. Many unscrupulous bitcoin mining scams do provide owner and company directors details to appear authentic to potential investors. The details they provide, however, are usually wrong and fake.
The availability of accurate ownership details is one of the important factors to consider. Just because a company like Genesis Mining has been genuine all along, does not mean that you won’t lose money if you invest with them. As a matter of fact, I don’t recommend investing with Genesis Mining as the company is failing to deliver rate of returns it promised to its investor. Many Genesis Mining investors are mining at a loss, and yet the company continues to advertise itself as a profitable bitcoin cloud mining platform.
In the case of CLD Mine, the website has not bothered to display any details about the directors or owners of the cloud mining platform. Even the location of the offices or mining data centres has not been provided.
Even if one tries to locate the owner of the company through the domain name registration, a brick wall is hit because the website owner has used a service to hide his identity.
This total lack of information about owners and their contact details is enough to conclude that CLD mine is probably not a genuine crypto currency mining company.
Is CLD Mine Scam or Genuine?
Indeed, CLD mine website does not have anything to suggest that it is a real crypto currency mining company: No proof or location of their data centres, no trace of their company in the block chain ledger.
The company does not provide any information or evidence that they actually are doing bitcoin mining or crypto currency mining. The company does even bother to mention the type of equipment they are using, or in which country their centres are based. There is no way of even knowing if CLD Mine is a real company as business or company registration are not provided and cannot be found anywhere.
Even telephonic contact details are not available. The extent to which the company goes to hide the owners identity lead to one conclusion, that is CLD mine is a scam website.
Final Thoughts on CLD Mine
Let’s say you’re the owner of the company, and you’re making a return of 30% per month, would you be willing to share those profits with other strangers, or would you rather take all profits for yourself?
So why CLD mine shares 30% monthy profits with a bunch of strangers from 60 countries. Of course they won’t share with you, they just just want to take from you.
CLD mine is definitely a scam website, so stay away from it and save your hard earned cash.