BitMiner is actually a ponzi scheme (not Bitcoin Cloud Mining), that opened in 2016. You were probably intrigued when you visited their websites at BitMiner.io and BitMiner.eu, and want to confirm that other people are making money using the system. The truth is that BitMiner is just another get rich quick scam.
BitMiner is the latest Bitcoin generating operation that claims over 37k registered investors on their site who have since purchased 1.3 mln GH/s of hashpower in the past 1 year. BitMiner also claims that they’ve paid out over 240 Bitcoins to participating investors. Relying upon exploits injected into Bitcoin mining pools and blockchain technology, BitMiner masquerades their platform as one that allows users to harvest as many bitcoins as they desire.
There were a few problems we noticed during our review of BitMiner.
According to our research, this website belongs to Bitminer Cloud EU Ltd. The address is stated as England and Wales Company Court.
BitMiner is associated with another entity called 1 GBP share capital electronically. This company is owned by someone called Giacomo Bugini who is also listed as the sole owner of the website BitMiner. When we look at his professional profiles on the internet, we don’t find him mentioning anywhere that he is the owner of Bit miner.
The problem with this guy is that he’s previously been associated with many scams of this nature on the internet. These include eurobitmarket.com, bitcoinbay.co and many more which have since disappeared.
We scouted for his details on popular Bitcoin investment forums and realized that someone was implicating him for a mistake which he supposedly did with one of his many sites. This person was accusing this Italian gentleman for being a scammer. This is definitely painting his name in a negative light. We are sure that he cannot be proud of this — if he ever comes across that thread.
When we checked them out on their Facebook page, we discovered that Bit Miner only had 600 followers on their Facebook page. This left us wondering whether the 37k users on their site was just an imaginary figure.
Note: You must be aware that a “Ponzi Scheme” will steal your money, Be Smart, and Only use a trusted services, see here.
BitMiner is the spitting image of cllassical Bitcoin mining scam. BitMiner claims that they own data centers in China. Again, there is no evidence that Bit Miner actually has mining centers in China. You cannot just fall for someone who claims that they have data centers in China if you don’t have evidence yet. China is currently one of the best places to mine Bitcoin at because of the low cost of electricity. Apparently, this is the reason why scammers are also trying to associate themselves with China to create the impression that they are mining efficiently and affordably, which may not be the case at all.
As you can gather for yourself though, this operation functions in exactly the same usual story. Cloud mining contracts run for 1 year on this site. You can mine a variety of coins here as opposed to just Bitcoin. They also claim to offer X11 algorithm for mining Cryptos in the cloud. BitMiner also claims that payouts are processed on a daily basis at midnight EST time. According to this site, they use a special payment process called Pay Per Share. This means that each client is supposed to receive payouts based on their contribution in the mining pool.
Compare this software with more popular crypto mining investment.
BitMiner Registration & Fees
It’s quick and easy since individuals only need a working email address to sign up. Once the sign up process is complete, one can fund their account using Bitcoin or in any other digital coin through the various Cryptos exchanges on the internet.
Due to the nature of Bitcoin transactions, they fees are irreversible through their decentralized platform which is exactly what these con-artists are relying upon. While this is common knowledge among most crypto enthusiasts it is oftentimes a forgotten truth in the Bitcoin community. What you should really be asking yourself before you commit to pay their miners fee would be why they just can’t take the Bitcoin they exploited for you and use part of it to cover the miners fee?
How Does BitMiner Work
his site provides a little bit more information regarding their operational model. We find the website quite intuitive and simple to navigate. However, this website is very economical with information concerning their mining activities, equipment and farms.
On the same breathe, we checked out their FAQ section and realized that it was very shallow. It only had a few questions which they were skimming through rather than going into details
BitMiner Review Conclusion
Nothing exhibited at BitMiner is legitimate. It is clear to us that the sole motive of these con-artists would be to slowly line their pockets through your deception and gullibility. If you come across any other operations similar to BitMiner, we encourage you to Contact Us so that we can further investigate into their legitimacy and origins.
Review Verdict: BitMiner is a SCAM!
Blacklisted Site: BitMiner.io & BitMiner.eu
Finding a reliable Bitcoin investment venture is more difficult than it appears due to the vast volume of scams circulating the cryptocurrency domain. If you are looking for practical and verified investment opportunities within the crypto world, we encourage you to visit our Bitcoin Mining Page.
Thanks for the time taken to read our BitMiner scam review. feel free to surf our top recommended signal page. Also make sure you subscribe to our mail list to get first hand reviews of binary options and Crypto scam.