In this review of the 99 mining cloud, we are revealing the truth by exposing the happenings behind the curtain. The truth is that this site isn’t mining any Bitcoins in the cloud. If you thought otherwise, you seriously need to read this review and make up your mind.
The paying status of 99mining cannot be confirmed or verified. 99mining.cloud does not disclose ownership information on their site. The admin is totally anonymous.
The domain was updated in 2017 where it changed hands and assumed new ownership. Expiry date is supposed to be in 2019.
The reason we are reviewing 99mining.cloud is because it seems to be a very popular website.
With an Alexa ranking of half a million and with most traffic coming from the United States, we can only imagine the number of people losing Bitcoins here every hour.
The site is offering 4 investment plans. The first plan V 1.0 is offered for free where investors can earn 0.0000576 every day. In just one month, this would be 0.001728 Bitcoins.
NB: Interested In Mining Bitcoin And Other Cryptocurrencies for Profit? Now, You Can Mine Better, Faster and Smarter for More Profits With The Ready to Use, "High Performance", and Approved IQ Mining BTC Cloud Service For Miners. With This Mining Service, You Will Get Up to 128% Yearly ROI from Mining Bitcoins Alone Without Having to Buy Any Expensive Mining Hardwares and Softwares! Not Only That, You Will Get Your First Payout In First Few Hours After Buying a Plan With IQ Mining. You’re Also Given a Dedicated Account Manager After You Buy A Plan Who Will Help You With the Best Pool Allocations and Account Setup Plans To Get the Most Out of Your Purchase.
The second investment plans is dubbed V1.1. Investors could earn 0.001728 of Bitcoin per day.
The third package is called V1.2. This package gives the same daily returns as V1.1. This is also the same as V1.3 ad V1.4.
The difference between these 4 plans is in the affiliate bonuses and the minimum deposits needed to purchase a plan.
To this end, 99mining looks very lucrative especially with the free plan. The question you should ask yourself is whether the site is really paying out the funds.
If you don’t have an answer, then this 99mining will provide you with insights.
The site is boldly claiming on their sales page that they are the best bitcoin mining pool on the internet. That is a self-proclaimed statement which no one can confirm because the most popular cloud mining sites for Bitcoins, Ethereum, Dash, Litcoin are well-known. 99mining is not one of them.
To earn more from this site, all you are required to do is upgrade to a premium plan.
Affiliate bonuses start at 30% all the way to 100%. This begs the question of why this site is giving 100% affiliate bonuses.
Common logic should make us question that if affiliates are rewarded 100% for each referral in the V 1.4 package, how exactly is 99 mining cloud making money from the referral?
It is not possible to give 100% of member deposit. The reason this site is making such a claim is because they know that they won’t pay. It costs them nothing to make such claims since they don’t feel obligated to be responsible for their promises.
From the word go, we said this is a scam. There are more concrete evidence yet to come.
These data centers do not exist. Plain simple. If they did, 99mining would have known that mining Bitcoins for free is not possible. They would never ask you to sign up for a ”free plan”.
There are claims that this website is keeping the cost of mining down while increasing efficiency.
The data centers are allegedly located in Europe, USA and China. That is not true at all. And if there is some truth in this statement, we demand to see proof.
In short, we are dealing with a site whose operation model is similar to that of a typical Bitcoin ponzi scheme.
At this point, you must be wondering how 99mining is intending to scam. The game plan is so simple. It is as follows:
A greedy and financially inexperienced internet user lands on the site, sees a free investment plan and imagines that they can earn 0.001 BTC for free at the end of the month.
Obviously he signs up and when he does so, ‘mining’ starts immediately. After 30 days, they will have accumulated the promised amount.
But to speed up the production of Bitcoins, the gullible investor will upgrade by paying 0.01 BTC to purchase any of the premium plans touted on the 99mining.cloud website.
This will be inspired by the fact that they are seeing ”proof” of payment which is in form of a page showing alleged payouts which are updated every day. This is a script which is programmed to update the page regularly. The investor will be oblivious of this fact.
Soon they will reach withdrawal threshold which is 0.005 BTC. When they request a payout, the site will religiously follow the time-honored style of scamming individuals. They will ignore any emails that this investor will send them demanding to know why their Bitcoins have not been deposited to their wallet.
It’s interesting to note that the owner of this site is anonymous, and they are stealthily enjoying the anonymity that the internet is affording them.
They claim that 99 Mining Cloud has data centers in the aforementioned parts of the world. That is not the case.
With the rising cost of mining, nobody in their right minds will ever give a free cloud mining plan for Bitcoins. Who pays the cost?
These claims are simply too good to be true. The scam is most likely targeting the financially naive.
Of late, the price of Cryptocurrencies have been on a down trend for weeks or months. Price is currently range-bound, meaning that there is minimal climb or decent.
For example, Bitcoin has been playing around the $6,000 to $7,000 mark for weeks now. This applies to all other Cryptocurrencies in the market which have not shown any significant rise or drop in price.
When price is down like this, it means that we can’t generate any significant profits from mining of BTC. Anything that we make out of mining will be minuscule.
As we have said it before, 99 mining is a scam. Don’t waste your money or time participating in something that won’t yield any returns. You should definitely try trading of Cryptos to see how it will go. Our readers have reported massive returns from trading of Cryptocurrencies.
Help Us Fight Scams. Please Donate to Support Our Work. No Amount is too Little or too Big. Thank You..
February 8, 2019 By Ghazanfar
The phrase ‘Necessity is the mother of invention’ seems true for Iran. This is because Iran has unveiled its own...
February 8, 2019 By Ghazanfar
In spite of long bear market, Bitcoin transactions per day are increasing. Today the level of these transactions has touched...
February 4, 2019 By Ghazanfar
Although bear market in crypto world is extending, yet many fiat currencies are facing the threat of destabilization. This is...
February 4, 2019 By Ghazanfar
In spite of mix signals from the cryptocurrency world about the future of cryptocurrencies, many countries are planning to test...
February 3, 2019 By Ghazanfar
The idea of Bitcoin adoption as an international currency is not at all new. Over the years, many financial experts...
February 2, 2019 By Ghazanfar
Bitcoin’s entry into the longest ever bear market in history is one of the most burning issues of today. The...
Valforex.com cannot be held liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Both Forex and Binary options involve high-risk and are not suitable for all investors. Either Forex or Binary options may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity… Read More