Yield Nodes, whose website can be found at Yieldnodes.com is touting a Master node project where investors will earn “super profits” even during times of financial crisis.
Nevertheless, this website has similar characteristics to a ponzi scheme. It would be wise to invest in trading rather than putting your money into a purported masternoding project.
YieldNodes is soliciting investors a minimum deposit of 500 Euros and claiming that this money will be used to purchase and maintain servers.
The vendor is also purporting that the funds that are deposited into the platform by investors will be used to purchase masternode coins required to earn rewards.
Earnings will start after 7 days of making the minimum payment in Bitcoins due to logistics involved in configuring the server.
When it comes to withdrawals, YieldNodes claims they will convert your money into fiat or Bitcoin and send it to you.
The vendor also claims that Yield Nodes can pay back the original deposit at any given time, assuming an investor does not want compounding of which his investment would be locked for a minimum of 6 months.
The big question is whether this platform is yet another investment scam trying to confuse the less sophisticated investor?
Notice that the promotion materials on the Yield Nodes website is even suggesting that the vendor is the first to innovate masternoding.
They also want investors to know that the platform was running as a private pool for at least 1 year before they invited beta testers in October 2019.
But who are these guys and can they be trusted?
Overview of YieldNodes ponzi scheme
YieldNodes.com is allegedly based in Hong Kong and is headed by Steve H.
Other people involved in the project include:
- Urs S. (COO and CIO)
- Yegor V. (CTO)
- Dima T (Management assistance)
Before you fall for the masternode craze that YieldNodes.com is peddling on their website, you need to understand the basic economics of masternoding coins.
Yieldnodes is promising to generate ROI for its investors through Proof of Staking.
The amount of money you make in a masternoding platform fluctuates with the price of coins.
Nearly all masternode coins don’t have any real world usage.
To make any gains, the vendor would find ways of raising the price of the coin or making more of them.
And without real-world usage, these coins values are only driven by the act of purchasing for the masternodes.
The moment this demands drops, what you earn from masternoding also drops.
In short, this is a failed project that can’t earn you any substantial income.
Because vendors know it, they can opt to mislead investors by claiming to generate revenue from masternoding when they are actually doing something else with investors’ funds.
We actually don’t know whether or not servers really exist or that you’ll be renting a real server if you pay them 500 EURs.
YieldNodes is simply hoping that you’ll buy their masternode narrative without further scrutiny.
YieldNodes.com too good to be true returns
Just to put it into perspective, Yieldnodes.com is claiming that they’ve generated a monthly ROI of 11% over the last 17 months.
Yieldnodes even claims that they generated 19.2% return in February 2021.
These are pretty impressive statistics, which is why a website like YieldNodes is likely to attract a huge traffic of visitors.
Most of the people who visit a site like this one want to be rich overnight.
However, the old adage goes that if it is too good to be true, think twice.
As at now, nobody knows for sure whether Yieldnodes.com owns any servers beside a website with fancy gimmicky blockchain mumbo jumbo.
Sophisticated ponzi schemes have always used this narrative to try getting investors to deposit money.
In the end, early adaptors make the most of their investment while those who join afterwards even stand a chance to lose.
Either way, this game of speculation may not get out what you had invested in the project.
It is just a hoax!