Straight off the bat, I think Miningbase is a scam. In this review I will explain why I think so.
When it comes to crypto, one of the biggest problems with it, obviously the multitudes of scams that exist out there. When it comes to reviewing these things I try to sift through it all and find the legit, and expose the criminals.
Miningbase, located online at https://miningbase.cloud, claims to offer “cloud mining” for free with paid options. So, I tried out the free option, and wanted to try to withdraw at its minimum level.
The “pending” claims that the transaction would be made in 24 hours, well it’s been 3 days and nothing has come to me.
However, of course they offer that if you pay them a fee they’ll process it right away…
Red flags are all over that alone, but the “too good to be true moment”, is that my balance keeps growing super fast despite I’m not “mining”…
If you go on the site every few seconds they have popups that show a new person has joined up, trying to give the impression that this is some hot new mining… it’s an illusion…
And if you go their “payouts” page, they do show transactions, but I will explain this illusion….
I think these transactions are real, but coming from their end. They make these transactions to themselves to create the illusion that they’re paying out. They might even pay out a few suckers a day as well to get legitimate people to think they’re being paid, but what’s going to happen is far worst. I’ve experienced these scams in the past, and the ones paying the fees are going to be hurt, bad.
What will happen, is when enough people start to catch on that this is a scam, the criminals will pull an exit scam and simply move on and create something similar.
I was of course scammed through giving my mining power to them… I probably left it mining for about 5 days before turning it off, so they made some Bitcoin off of me, but certainly not the amount that is claimed. I’m only mining through a few computers, not even using GPU’s, so it’s ridiculous how fast that number went up so fast.
People, take warning. This is clearly a scam. Don’t waste your time and energy on most of these kind of schemes. There are a few schemes that are legit, such as the Brave Browser, or Cryptotab, but for the most part the safest way to obtain Bitcoin is to have your own mining rigs, and/or to buy it. What saddens me is that these kind of scams mostly affect the poor trying to find ways to obtain crypto, but it always comes back to the saying, “if it’s too good to be true, it probably is”.