Bit Mine Center Review: Bitminecenter.com Nasty Scam
Bit Mine Center is a company that markets itself as a cloud mining hotel. The platform is another Ponzi scheme in the market that you should keep off.
The company lures innocent investors into their site with promises of 100% principal back assurance after three months.
The company has a statistic section on its site, which shows members of the public the number of days they have been operating, current clients that they have, the total amount that has been cashed in, and withdrawn.
The information is to create transparency. However, what we are interested in is seeing the financial report of Bit Mine Center. If they are performing very well in the industry, why not brag about it openly.
The company claims to undertake mining venture while, in reality, they do not disclose their servers and mining farm location.
Mining involves numerous risks, and there are many expenses that a mining farm face. The company has not clearly stated the amount of investors’ money that will be used to cater for these charges.
We strongly believe there is no mining taking place in this company. The company only wants to steal money from their clients.
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Bitminecenter.com
The cloud mining company has a calculator that shows investors how much they will attain when they invest a certain amount of money.
The SHA256 algorithm of mining will earn you a daily income of 5% for a 10MH/s hash rate. The least amount of funds that you can deposit in this company is 10 USD.
The platform claims they are operating across the globe and do not discriminate against any investors. The platform is being run by professional scammers, and details regarding their location are sketchy.
Despite there being numerous scammers in the market, there are legit investment companies that you can trust with your funds. However, Bit Mine Center is not one of them.
Bitminecenter.com states that they make money from financial markets. The majority of their income comes from trading and mining digital currencies. Additionally, they also invest in other assets in the market.
The online investment venture has earned some investors a tremendous fortune in the past, but this does not necessarily mean you will make huge returns within an unrealistic duration.
The market has changed, and there are more investors in the industry, as well as hefty charges that come along with mining ventures. However, there are legit mining companies that will yield you great returns.
Bitminecenter.com is a company that does not provide any form of evidence to back up their alleged excellent performance in the market.
They do not disclose their drawdown or win rate; neither do they provide any performance report of their fund managers nor reveal the name of their team.
For your financial well being, this company is not the best in the market; they will only steal your money and leave you high and dry. Keen investors will never risk investing in such a shady platform like Bitminecenter.com.
Licensing and Contact Information
For any investment venture to collect money from the member of the public, they ought to be regulated.
Various governments across the globe have set up strict measures that investment companies must adhere to. Bit Mine Center is one company that is operating illegally, and they risk being prosecuted if caught.
The platform does not display any license or incorporation document on their site. Be very careful with companies that are not licensed as they break the law knowingly. The can change their term of service without being questioned. Additionally, the safety of your funds is compromised in unregulated platforms.
Bit Mine Center has telegram, twitter, and an Instagram page. However, you can only contact their support via help@bitminecenter.com. You cannot reach the support on the phone, which raises red flags.
If the company were a legit platform, they would not shy away from providing their location. The geographical location of their offices is unknown. With this kind of anonymity, there is no way you can follow up on your money if they exit the market.
Bitminecenter.com Investment Plan
The Bitminecenter.com has four investment plans. The SHA-256 price for 1MH/s goes for $10. They promise users a daily return of 1.2%, which runs for 3 months.
Their next plan is scrypt, which offers a daily return of 1.6%. The price for 1GH/s is $200. Ethash goes for $400 for 1TH/s, and they promise a daily return of 2%.
The final contract is the Equihash, 1TH/s costs $400, and the company assures users they will receive 8% daily profits for, and it only takes 25 days to mature.
The returns of this platform are unrealistic, and its purpose is only to fish in more innocent investors in their site.
The company has a top-notch marketing strategy; we got to give them that despite not being in the market for long, they have massive traffic coming into their site.
Many people will fall victim to their scheme. Before you invest in any company, you should perform thorough research.
Bit Mine Center Referral Program
Bit Mine Center has a referral program that they offer to their victims. Pyramid schemes depend on an affiliate program to earn revenue; without traffic, their business will close down.
They have a five-level affiliate program, at level 1 you will receive 5% commission, level 2 you will receive 3%, level 3 you will earn a bonus of 3%, at level 4 you will gain 5%, and at level 5 you will receive a bonus of 5%.
The pyramid scheme bonus is the percentage of the funds that your referral will purchase hash power.
Regardless of all their promises, it is good to keep in mind that this platform has no intention of making any miner rich.
There is no trading taking place on their site, and the use of shady marketers to promote their fraudulent activities to the public.
Do not be surprised if you encounter positive reviews on Bit Mine Center. They will use blogs, videos, and adverts to market the scam company.
There is a conflict of interest between the promoters and the pyramid scheme. Your funds will be used to pay marketers. Moreover, regardless of anything, they promise you to stay woke and avoid them.
Be very cautious with platforms that offer you mind-blowing promises. You should ask yourself why their competitors don’t have similar ridiculous returns.
The Domain Insight
We were able to gather necessary info regarding this pyramid scheme, all thanks to Whois.com and Alexa.com. The company domain name is Bitminecenter.com.
It was registered in September 2019 and will expire in the same month the year 2020.
It is currently unknown the area they target their audience from. However, this fraudulent company has massive traffic coming in; they have a global Alexa ranking of 408,598.
Bit Mine Center Final Verdict
Funds are not secure in Bitminecenter.com, and the company is not regulated. They also accept funds from the UK, and USA citizens, yet they are not in the FCA, or FTA cluster.
It does not make sense for any investors to pursue a venture with a company that does not have licensing documentation. Finally, you should only invest in trustworthy crypto mining companies in the market.