Estimated reading time: 6 minutes
Xenos Mining is a popular cloud mining platform dealing with Bitcoins only. That means you can’t mine any other coin apart from the popular Cryptocurrency. What amazes us is that even though Xenos Mining looks like a professional site, the promised returns are quite high.
The site was launched back in March 2017, and has since grown in popularity. It is popular in places such as Russia, India, Thailand, Pakistan and Ukraine. For that reason, it was not difficult for us to learn about it and even review its dealing in a very short time.
Now we have already determined whether or not Xenos Mining is a scam. This review is just an assessment of what you’re likely to encounter if you do business with this site (xenosmining.com).
In this review, we aim to answer all your questions regarding this platform. But if you still have more questions which have not been covered in this Xenos Mining review, feel free to contact us.
Note: Locate the best Cryptocurrency mining companies here.
You’d expect Xenos Mining to work just like any other cloud mining facility on the web. They rent out hashing power and mining equipment to interested individuals for a free. At least that’s what they are purporting to be doing. They also educate on issues related to Cryptocurrency investments.
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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.
On top of that, the site also runs another investment program where depositors can earn interest on their Bitcoins without ever breaking a sweat.
The other thing to note with Xenos Mining is that they only deal with Bitcoin. This can be a setback to investors who want to spread their portfolio across a wide range of altcoins.
You may need to look elsewhere if you’re into mining various Cryptocurrencies simultaneously. Last but not least, the platform is a self-proclaimed world’s greatest Bitcoin mining site on the internet.
At this moment in time, it’s difficult to know whether these advertising antics are honest or misleading. We have to dig deeper to find out whether they are legit. After all, you can’t file a suit for misleading you with their advertising. It is a process that you don’t want to be engaged in.
Xenos Mining offers up to 9 different investment plans which are tailored according to different investors’ needs. To sign up with the cheapest package, you’ll part with $50. On the other hand, the most expensive package is $20,000.
Now, one thing that we may feel sorry for is that a person can spend 20k on such a site. It makes us feel bad for humanity and even sorry for that particular person.
The return on investments also correspond to the plans chosen. Plans 6 to 9, which are considered premium packages will give you a return on investment of 0.30% for 725 days. On the other hand, basic plans give 0.25% for 825 days.
Investments into the premium packages will require that an investor should part with at least $2,500.
The site uses the phrase POM which stands for Profit on Mining. So next time you come across such a word, don’t get confused.
On a lighter note, we have realized that the word POM is only used by Xenos Mining website. We are thinking that they probably used this word to make their site look unique and convincing enough. But you need to watch out anyway. Scammers now create their own words to build a sense of credibility even when they know that their dealings are extremely dirty.
To answer this question, we will look at several factors, each carrying its own weight and contributing to the overall score that shall be awarded at the end of this review.
In other words, we have created our very own scam test which applies to all cases. So you can use this test to help you gauge whether or not Xenos Mining is a feasible idea.
General knowledge suggests that anyone who shall promise you exceptional profits with no risk is definitely a scammer or basically running a ponzi scheme.
You do not need to ponder about it for so long. You see, Xenos Mining is promising a profit of more than 100% in the long term. So based on this account alone, we can say that Xenos Mining is most likely not a reliable cloud mining site.
To help you see why we are saying that their returns don’t make sense, let’s take their highest paying plans. This plan promises a return of 0.30%. If you pick package 8 for example and invest 10k or more, you will allegedly be receiving 0.30% daily returns.
Now, this means that you will be making $30 each day for the next 725 days of mining Bitcoin here. If you add the figures, you will see that the total amount of money that you will have received after this duration will be $21,750, which is more than 100% of your principle balance.
But that is not all. The site has no risk disclaimer mentioning what types of risks are involved with their business model.
Mining Bitcoins depends on a lot of factors. These factors will determine the profitability of the mining pool that you’re participating in.
If the site is giving a round figure and claiming that you will earn such an amount on a daily basis, you should probably think about the factors that affect Bitcoin mining and figure out whether the site is speaking the truth or just misleading its customers.
We’ve gone through Xenos Mining website more than 3 times and not once did we see any explanation on the kind of service which they are offering their users.
For that reason, we have many questions which we would like to get answers to. The problem is that we don’t think this website or any of its representatives will ever get back to us on this matter.
Basically, we want to know whether or not they are paying investors for using their cloud mining services. And if yes is the answer, then how exactly does the business model work?
Two, we want to know if Xenos Mining website is involved in other revenue generating activities outside the space of mining Bitcoins. There is no way on earth you can promise 0.30% per day when you’re only mining Bitcoin and not doing other things.
And three, we want to know what kind of mining technology this site is using. If we have the answer to this question, we can gauge whether or not mining with this site can be any profitable in the long run.
So basically we are looking for these answers. If we can’t find any response, we will conclude that Xenos Mining is a scam anyway. We have suspected this for some time now.
To prove that this is a hoax, the website went ahead to include a monotonous about us page that gives no description of the site owner, their picture, their physical location or anything.
Instead, the page was used as a marketing platform for their dirty cheap mining services. That’s a red flag.
We have already raised enough concerns about Xenos Mining. We think these concerns can come to bite those who ignore our advice. Please mine with these platforms only.
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