Estimated reading time: 6 minutes
Telco Miner is a new Bitcoin cloud mining service operating through the domain name Telcominer.com. The company claims that their data centers are highly secured and distributed throughout the world. Specific location is not mentioned for security reasons. However, there is a map on their site which displays the specific countries where Telco Miner data centers are located.
According to this map, Telco Miner has data centers in North America, South America, UK, and China. There is also reference to mining using green energy. The company claims that they are able to contain cost of mining due to green energy, and that this benefit is directly transferred to their customers through cheaper hashpower rates.
Telco Miner also claims that their experts have been working with Bitcoin since its inception. However, it’s quite difficult to verify these claims. Most websites that come on the internet these days make such claims. Verification of these claims is the least of their concerns.
In other words, those who want to mine Bitcoin simply have to trust that Telco Miner website is run by a team of crypto mining experts. This does not inspire at all.
Note: You can mine Cryptos using these companies.
That’s the big question that investors looking to mine Bitcoin want answered. In order to address this question, we’ll consider a number of things in this review. If the puzzle fits together, then we can say that it’s worthwhile investing your Bitcoin with this company. But if the opposite is true, then we can go ahead and blacklist the service.
Let’s start by discussing the alleged advantages that Telco Miner claims investors will enjoy if they choose them.
First of all, we can see on the homepage that this website is offering competitive prices for anyone wanting to mine Bitcoin in the cloud.
In fact, this website is one of the cheapest to get started with on the internet right now — if those rates are anything to go by.
One might say this is certainly too good to be true. But we also need to consider the fact that China has the lowest cost of electricity in the world, and if some of their (Telco Miner) are situated in China, then this company somehow saves on the cost of electricity which gives them the ability to structure their pricing accordingly.
Low power cost and maintenance fees is one reason why this company is offering affordable Bitcoin cloud mining. So far, it makes sense. The more you manage costs in this business, the more efficient you become.
Honestly, there are many Bitcoin mining companies that operate on the internet and make the same, exact claims that Telco Miner is making.
We don’t know whether or not this company is able to provide reliable up time for their investors though. The issue of up time is quite subjective. And even if you try your best to maintain a decent up time, there are some unforeseen occurrences which may still end up affecting your up time. And thus no one can assure 100% up time or that hardware will not fail at some point in time.
Other features which Telco Miner has listed on their site include low cost of electricity and convenience (because the user won’t be dealing with noise and space problems).
Isn’t this supposed to be the advantage of mining Bitcoin on the internet? It’s not unique in any way since all Bitcoin mining websites offer these advantages. We cannot say that these advantages are only restricted to specific websites like Telco Miner.
There are 4 plans in total. These plans are quite affordable as the basic plan costs $0.48 per KH/s. The minimum you can order is 20KH/s. The maximum is 1000 KH/s. This contract runs for a lifetime, meaning that you will make profit out of it for as long as it remains profitable.
The other plans are reasonably priced too. So far, there is no cause of alarm or red flag to worry us.
On top of what you’ll get when you purchase any of their plans, Telco Miner also claims that they will award every new account with free 15KH/s of hash power.
It’s interesting to see that this Bitcoin cloud mining site is offering free hashpower as a form of welcome bonus. Most sites don’t do so simply because they can’t afford to pay the high cost of electricity and maintenance which will go unaccounted for if they opt to give free hashpower to anyone who signs up on their platform.
Apparently, Telco Miner claims that you can even withdraw profits from the 15KH/s of hashpower that shall be awarded even if you don’t buy additional hashpower. So, what’s the catch here?
Well, the website has a restriction on the length of time that this offer can make you money. That period is 30 days, meaning that after one month has elapsed, you won’t be able to make any money by solely relying on the awarded 15KH/s bonus.
30 days is still a very short period of time to make any significant amount of Bitcoin in profits. So don’t be surprised to see that no profits will have been made by the time your free hashpower is expiring.
It is hard to tell whether or not this is a reliable website. First of all, the company’s details are anonymous. This unwillingness to reveal the owner of the domain on who.is is a little bit worrying. Most scam sites operate this way. They simply register a domain, and then choose to mask their domains so as to make it difficult to know who owns the site.
Secondly, to establish whether or not this site is legitimate, we would need to find out what users are saying out there. Is there enough user feedback to help us gauge the quality of their service and whether or not they are a scam? Not at all.
The only reviews about Telco Miner can be found on review websites. This is not considered user feedback as the people who write about Telco Miner are basically reviewing a service which they’ve not used.
We would have appreciated real reviews on forums where Bitcoin cloud mining websites are discussed by real users. So far, this website has not been mentioned in any major forum with regards to their level of service and whether or not they are profitable. You don’t want to take risks investing your Bitcoin on an unpopular website with no significant track record.
For the time being, we shall stick to these Bitcoin mining companies on the web. Although Telco Miner seems legitimate from face value, the lack of user feedback is a major setback for them. And we wouldn’t want to put our readers at risk of losing their Bitcoin if things turn ugly. We’re are better off sticking to a service that we are familiar with. As time goes, we will update this review with the relevant details.
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