Estimated reading time: 6 minutes
Profit Hashflare is a scam site. It is not in anyway associated with Hashflare. The use of the name ”Hashflare” was meant to mislead potential investors into mistaking Profit Hashflare for the regular Bitcoin mining site which we have been recommending here.
The rogue site can be found on this domain –Profit.hashflare.eu, and as you can see, it is a copycat site that just copied everything single bit of presentation found in the legitimate Hashflare website.
From the name of the site to the logo and everything else, this website has it all.
The site claims that they are making Bitcoin mining easier and accessible for everyone. With the new Profit Hashflare website, there is no making money through direct involvement with mining hardware and software. It also looks like costs have been cut down significantly to attract new investors to the website.
They are currently running a cyber week offer which is to last until December 4th, 2017. At the time of writing this review, the offer was still on.
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Note: If your language is not English, you should use the language dropdown menu at the top right hand side of their page to select your language.
After observing this site keenly, we had no doubts that it’s among the many Bitcoin mining scam sites on the internet. Just to prove that this site isn’t trustworthy, we played around with their ”potential earnings” calculator. The figures that were coming from that calculator were alarming.
You see, Profit Hashflare also deals with a number of Cryptos other than Bitcoin. We just sampled Bitcoin in this calculator to get an overview of how much we could potentially earn from $100 worth of hashpower.
What we realized with this calculator is that there was a very big fluctuation in the numbers that it was displaying as a result of inputting various values. At one point, we keyed in hashpower worth $100 and the potential earnings for the day came to about $50.
At times, it went down to just $9 per day. But according to Profit Hashflare, these figures vary depending with factors that affect mining of Bitcoin.
The most common factors include mining difficulty, exchange rates, cost of electricity and hardware maintenance.
What surprised us most is that these earnings were fluctuating by the minute across various cryptos that are being mined in this site.
We saw these values were not legitimate. If we are to go with $50 per day profit out of a $100 investment, do you think this amount would be sustained in the long run?
We see that the lowest you can earn with hashpower worth $100 on this site is about $7 per day. We still feel that these figures are absolutely high and impossible to achieve.
If it was real that anyone buying hashpower worth $100 was guaranteed of earning anywhere between $7 to $50 per day, everyone would be rich by now, thanks to cheap and readily available mining hashpower that Profit Hashpower is touting on its website.
If I wanted to make up to $300 per day, I would simply purchase hashpower worth $500. If I increased that investment to let’s say $1,000, that figure would double to about $600 per day.
Now you can see how unrealistic this is. It doesn’t make sense at all. For that reason, we are already doubting this site. It almost looks like they don’t have mining expenses to incur while generating cryptos for their members. And remember that when it’s too good to be true, then chances are that it is not real. It is a scam.
Now matter how they want to present it, these figures don’t make any sense. It takes an ignorant investor to put their money here hoping that they will make money in the process.
Reputable mining sites have a clear identity. They never wish to remain anonymous for whatever reason. And if you discover that a site’s owner is keeping a low profile, and not wanting to expose their identities, then it could mean that this privacy is due to the fact that they have a bad intention.
Before reviewing any site here, we must run its domain name on who.is to see whether or not the owner is hiding their names.
For the site Profit Hashflare, it was immediately apparent that the site owner didn’t wish to expose his name or that of the company which is associated with Profit Hashflare.
So the question is, why would you want to send your Bitcoin to an anonymous person on the other end of a computer? Are you mad? And what if they turn out to be scammers? Will you recover your money if you want to?
These plus many other questions should arise in your mind since Profit Hashflare is owned by an anonymous individual.
Also, since this site is very new, it is obvious that it does not have any reputation. They cannot sell themselves with their reputation as a show of credibility because they have none.
One thing you see most sites in this niche doing is to convince prospective investors of joining them, and they do this by using any means possible.
The most common means involves that of using past records of deposits and payouts. Even though most sites are not willing to verify these records, it is certainly a good practice to include them, just in case an inquisitive investor wants to know.
For us, the site has to present verifiable records which will help in determining whether the site issues payouts or not and whether it has real members who are investing Bitcoin into their network.
But as you can see, Profit Hashflare does not have any proof of deposits and payouts.
It seems that the owner of Profit Hashflare was too focused on copying the original Hashflare site such that they didn’t realize that pages like ”About us” ”payment history” etc had not been included.
These pages are very important in any site that claims to mine Bitcoin in the cloud. Before any site can ask for money in the pretext that they will mine BTC for you, they have to explain who they are, what the do and even explain how they have been performing.
With that information, it becomes extremely easy to review sites like these. The problem is that Profit Hashflare didn’t see any usefulness of these pages. It almost looks like it was set up with haste since the owner was a little desperate to start collecting deposits from unsuspecting investors.
So even if we were a little bit lenient in our review for the Profit Hashflare, we still wouldn’t endorse it for this reason.
They lack professionalism. There is no customer support in place — or at least this has never been mentioned. There is no choosing your preferred mining pool. But of course there is asking members of the public to send any amount to their Bitcoin wallet. This will guarantee that money will trickle into their bank accounts 24/7.
When you need a legitimate Bitcoin mining program, this list is the go-to-place. Forget these copycats who intend to mislead and steal Bitcoin from unsuspecting investors. If wouldn’t gamble our coins here for whatever reason. There is no exception.
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