Bitcoin mining has a high barrier to entry because you need a mining rig - a huge computer power to mine Bitcoins. You'd have to have a machine and it'd be very expensive. But there's the thing. Majesty Hash Pro claims to have powerful devices and it will mine Bitcoins for you, so won't need to have a device, knowledge, skills, or anything. All you have to do is to deposit money and withdraw it with a profit within a few weeks. Doesn't that sound too good to be true? What's the catch? Again, it claims there is no catch.
I looked at the site for a few minutes and spotted a few red flags, and also discovered its bad history. So today, my Majesty Hash Pro review will reveal some of the typical scam factors and explain why you shouldn't get involved with this site or any other site like this one - you're likely to waste your money completely.
Majesty Hash Pro Review
Majesty Hash Pro
Cryptocurrency investment scam
Start from $30
What Is Majesty Hash Pro?
Majesty Hash Pro (MHP) appears to be a cryptocurrency investment scheme but what it claims to offer just doesn't make any sense. It claims to have powerful devices to mine Bitcoins, and it voluntarily shares the profit generated from the mining with the users. As a user, all you have to do is to deposit some money (min $30 - max $100,000). MHP will then let you withdraw it after 15-25 days with a daily calculated profit of 3.97%, which is unrealistically high.
The site doesn't explain how it actually invests your money or what mutual benefit it creates. It turns out that "Majesty Hash Pro" is a rehashed version of a previous fake investment site, Majesty Hash. It didn't pay out the return to the investors as promised and shut down the site MajestyHash.com at the end of July 2021 after receiving numerous complaints. Now it's reappeared with the word "Pro" simply added at the end.
The new site majestyhashpro.com may look great, but if you look through carefully, you can spot a lot of "red flags". The reasons to avoid are actually all over the site, now I'll show you what they are!
The Ambiguous "Mission"
MHP claims that its mission is to "promote the trade and use of Bitcoins and to strengthen the establishment of Bitcoin as a currency in its own right."
In other words, "let's use Bitcoins more and make it as a popular currency."
Is this a mission? Isn't that silly? Already there are millions of Bitcoin users in the world - there are over 75 million Bitcoin wallets as of August 2021, according to statistics. And we all know that it's by far the biggest cryptocurrency. So the MHP's mission is vague and effectively means very little.
Mining Is Irrelevant
Imagine I own a hardware shop and the business is going well. I make good profits daily. I meet you for the first time on the street and say to you;
"I offer you a great investment opportunity! If you give me $30 today, I'll double it and give you $60 back 2 weeks later. I'll give you $30 extra because I make some profits from my hardware business."
Now, does my story make sense? If I were you, 3 questions would pop out in my mind;
- If he has enough money, why does he want to borrow as little as $30 from me?
- It sure sounds like a great investment opportunity... But he'll give me money from his own hardware business profit. What's that all about?
- And who the hell is he?
That's exactly what the Majesty Hash Pro is doing. The story it's trying to sell doesn't make sense at all - because Bitcoin mining is nothing to do with investment, they are two totally different things, you know what I mean?
If MHP was making profits from mining, it would be making it with or without your money. In other words, there's no reason why MHP should hold your money for a certain period and give you back with extra money from its own pocket.
Fake Company and Fake Team
The previous site majestyhash.com was shut down and only a few weeks later, the majestyhashpro.com site was created. According to the domain registry, it was newly registered on August 25th, 2021. Another warning sign you can spot is that the "Company" page has barely any information. It claims that the company is located in the country of Georgia but doesn't say whereabout. The only contact detail is a "support email address", email@example.com, which is brand new and it may disappear again at any time soon. If it was a company that would take care of your deposit/investment, there should be a clearer identification on the site - street address, phone number, approval by appropriate financial bodies. None of that is displayed.
Four people are listed on the homepage as "team members", co-founder, CEO, head of communication, chief "technology", but none of the photos is real. They're all stock photo models, hence the team is very unlikely to exist.
The Pricing Plans
There are 3 levels of plans are offered;
- Gold Plan ($30 - $1,000) - minimum power 4.78 TH/s (terahashers per second) - ROI 25 days, payout up to 60 days.
- Platinum Plan ($1,000 - $10,000) - minimum power 159.73 TH/s - ROI 20 days, payout up to 75 days.
- Diamond Plan ($10,000 - $100,000) - minimum power 1,595.90 TH/s - ROI 15 days, payout up to 90 days.
It claims that if you sign up now, you'll receive an "extra 900 GH/s" regardless of the plan you choose.
As I explained earlier, the idea of the plans against the mining rig power doesn't make sense. This may give you the impression that the more money you put in, the faster the machines will mine Bitcoins for you, and your profit will be proportionate to the amount of your initial "investment". Cryptocurrency mining is not an interest. You don't get a percentage of anything. So the homepage says "daily profit of 3.97%", but it's unclear where that comes from.
The Profit Calculator
The price calculator looks like it's meant to show how much profit you'll have made after 25 days of investment. But something's wrong with it - either it's not functioning or if it is, it doesn't really make sense at all to me. I entered "1,000" USD, and the results showed up like this;
- The last line "Total Profit" - you'll make $0.0497, but as a percentage, 240%? (240% of $1,000 should be $2,400.)
- "Monthly Profit" - The monthly profit shows "120%", i.e. half of the total (25 days)???
Whichever figure you look at, it's totally unreliable as you can see. You are told by this unknown company that if you put $1,000 down, you'll make either (a) less than 5 cents, which isn't worth it, or (b) 240% only after 25 days, which is insanely impossible.
Majesty Hash Pro offers a multi-level (3 tiers) referral commission to affiliates. 6% of the purchase made by the direct referral, 3% of the purchase made by the 2nd downline, and 1% from the 3rd.
Is Majesty Hash Pro a Scam?
From the number of complaints that you can find on Trustpilot, the previous scheme "Majesty Hash" proves to be a scam.
The damage of the reputation seems irreversible by the looks of it. Now the site has reappeared with almost the same name. It may suggest that the owner has a willingness to compensate the previous users or fix the damage in any way. For all the reasons, yes, it looks like Majesty Hash Pro is operating a scam, unfortunately.
The Owner Admits Theft On Twitter
The Twitter account can be found but it has full of dubious factors, such as;
- The account was only opened in July 2021.
- The profile photo is of an unknown man. The profile description includes the name "Dominic Benson" But it doesn't explain who he is. Neither the name nor the photo appears on the MHP site. Therefore just like the fictitious "team", the profile is likely to be fake.
- In July, it was promoting another site "MajestyCash.com" which no longer exists.
- It also repeatedly tweeted to promote "Infinity Finance", a different investment site. This suggests that the site is either owned by the same hidden owner, or the owner is affiliated to this site.
But what appears to be astonishingly irresponsible is a tweet posted on August 10th, apologizing to existing users who had lost money to Majesty Hash that reads;
"I can understand your problems because you have lost your money...
"I want to apologize to anyone who misunderstands me because my business partner stole all my money...
"I will continue this campaign again for all of you and I promise that you will not be harmed now. You'll not have to bear, thank you for your cooperation."
The message means that Majesty Hash is not returning the users' investments because there has been an internal fraud incident. The owner effectively says to the users, "You lost your money because my company employs a thief and the thief stole your money. It's not my fault."
The owner is unable to return the money because he wasn't insured. And instead of reporting the incident to the police, he just tells the users that they'll be fine from now on. And after that tweet, he's been promoting MHP as if nothing happened.
Majesty Hash Pro Review - Conclusion
The MHP site doesn't actually say it's offering an investment opportunity. But it effectively tells users that they can have free money because of the "power of mining". The owner is unknown, and it displays technical specifications of mining rigs that may not even be in possession. It seems to be targeting those who have no experience in cryptocurrency trading or investment. Too many complaints have already been found from victims. Majesty Hash Pro should be one to avoid.
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