Crypto currency cloud mining is a popular way for scammers to rip off investors. There are scams that are quite obvious and those that aren’t easy to detect. Gen Mine Pro is one of those dubious cloud mining operations with red flags that scream so loud such that even the untrained eye will be able to detect the malicious nature of the site. Gen Mine Pro claims that those who sign up will receive free 100 GH/s of free hash power. Daily returns which they are supposed to generate from the alleged mining activities is between 3-7%, which is quite high considering the challenges faced by the Crypto currency cloud mining operations at the moment.
So the question is this, can you make up to 7% per day out of Crypto currency cloud mining? This would be 210% per month, meaning that this Crypto currency cloud mining operation is claiming to return more than double portion of your investment within a month.
There’s also the issue of giving out free hash power to get you started. Could this be a trick to suck you into the dubious operation which will result in the loss of your funds at some point? Here’s what we think about Gen Mine Pro:
Note: To mine Bitcoins and other Crypto currencies, you need a genuine hashpower provider.
This is quite a deceptive site in as much as they are trying very hard to deceive but with no success. The site is filled up with generic content which does not help us to arrive at our bottom line at all. This generic content describes the advantages of mining Crypto currencies with this site. These points are obvious, and are known by everybody. So they are generic, plus they do not add any value to the site’s credibility.
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. Click the Banner Below To Register Now:
Note: If your language is not English, you should use the language dropdown menu at the top of their page to select your language.
The site lacks professionalism and ethics as well. When we scroll down further, we are able to see a calculator to estimate the amount of returns you could earn with a specific investment after a certain duration as well as a mobile app which the site promises to roll out in the near future. In short, Gen Mine Pro claims that their users will be able to mine directly from their mobile devices.
When you scroll further downwards, you will find a contact form and a couple of badges from entities which they claim are their partners. So at least we can contact them. But this does not mean the site is credible in any way. Even if we contacted them, we would expect a response that would never satisfy our curiosity regarding the service offered by Gen Mine Pro.
With regards to their alleged partners, the site claims that they are working with these entities to make their project a success. These badges represent Crypto currency exchanges, payment processors like Advcash and security organizations like Comodo. Again, these affiliations don’t say anything concerning the credibility of this mining operation. If we chose to use them anyway, we’d be making a decision that can be misleading because we are acting purely out of blind faith and not because the site has given valid reasons as to why investors should mine Crypto currencies using their service.
It is important to note that in as much as the site is mentioning data centers and claiming that they are using the latest technology to run these data centers, the possibility that these data centers don’t exist is quite high. You see, this site’s lack of professionalism and ethics says a lot concerning their service. A serious cloud mining operation like the ones found in this list will have a professional site from where they will present their services to the world. But with Gen Mine Pro, the site is not convincing at all. Even if we wanted to buy hash power here, it would be very difficult to believe that we will get what we have paid for.
As far as data centers are concerned, the site does not give us any evidence with regards to their data centers and the potential locations of those facilities. There are no pictures as well. The most likely thing is that there are no data centers. The site is just accepting funds from random internet users and keeping it for their own use. To confirm otherwise, customer feedback would be handy, of which we do not have any at the moment. So the bottom line is that the risks of losing funds in the hands of these anonymous miners is quite high.
Gen Mine pro claims that this service was launched in 2012. But this is not true because the domain has been operation for a short while. It was registered in 2018 as opposed to 2012. That is something they should not lie about since it is quite easy to find out the truth.
The background activities of the site are unknown. It also appears that this site isn’t backed by any corporation. It is existing as a stand alone site. We have tried investigating the details of their background and have found zero evidence that this entity is credible and have been operating for a long time.
Therefore, we are only dealing with an anonymous entity that cannot be trusted. It is quite obvious from the presentation and the lack of evidence to support any of the promises it makes on the site. So don’t be deceived into sending your funds to the anonymous owner of Gen Mine Pro. This works similar to scams like 1 HourInve.
Gen Mine pro is a basic scam operation soliciting funds while pretending to mine Crypto currencies. There is no evidence that this site is generating revenue through mining of Crypto currencies. There is also no evidence that they have data centers from where mining of Crypto currencies is taking place. The best advice we can give you is to stay away from this operation.
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