Bigmine.io is a supposed Crypto currency cloud mining website which allows investors to purchase hash power and mine on their site. Big Mine claims that their website is owned and operated by a company known as Mining Solutions Limited. A search for the background of this company reveals that there is no such company which is registered in Russia (where Big Mine is apparently situated at). However, we were able to find Mining Solutions Ltd in the UK.
The one registered in the UK is giving us a different physical address from the one we find on the Bigmine website. So clearly these two companies are not the same as Bigmine claims to be located in this physical address RU Office address: Lenin avenue 52, Murmansk, Murmansk oblast, Russia. Surprisingly, the site also gives a UK phone number but does not completely reveal all the digits of this phone number. You should treat this as a red flag because a phone number is supposed to be used to facilitate easy communication between the client and the representatives of the site. It is not to be used for spanning them (as allegedly claimed by BigMine and used as the reason why the phone number cannot be revealed to users of this site.
Bigmine cites 3 people who allegedly work for them. These include Josef Stransky (support department manager), Alleardo Ferri (Technical department manager) and Angelika Fiedel (legal manager). The site claims to have been in operation since 2013 although there is no evidence that Bigmine was existing at the time. This appears to be a brand new cloud mining service and its reputation is not known yet. There are zero customer feedback on the internet regarding the services offered by Big Mine. In fact, if this site was a couple of years old, it would be among the most popular Crypto currency cloud mining services on the internet. Unfortunately, this isn’t the case for these guys, and we are only trying to wonder why they are misleading their visitors. The fact remains that this is a highly suspicious website and before you spend your Bitcoin on them, you need to conduct due diligence to ensure that you are not getting scammed and also you are not taking necessary risk by investing what you cannot afford to lose.
Besides claiming that Bigmine is owned and operated by Mining Solutions Ltd, the website claims that their customer base has reached over 3000 active users who have made over 4000 purchases since the inception of Big Mine. They also claim that nowadays BigMine owns data centers that have a production capacity of 50 PH/S. It is very easy to confirm these details. Just run the domain name of this website on a platform like alexa.com and find out what the ranking is. Bigmine.io currently ranks at 8 million globally which means that it is not receiving as many visitors per day.
Therefore, based on this information, we automatically disqualify the claim that Big Mine has over 3000 active users. If that was the case, the site’s global rank would have improved such that they would be at 400,000 or less. We therefore don’t believe in these random figures which this site is trying to tout on their platform. We see it as a marketing stunt to try convincing users that the site is credible even when there is no evidence that this is the case. On the same note, if Big Mine has existed for the last 3 years, we should be seeing its popularity on the various domain inspection tools on the web. There is no way Bigmine would have provided their services when they didn’t have a website in the first place.
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.
BigMine claims on their website that they run two types of algorithm which they also claim to be very efficient. The first algorithm is the regular algorithm for mining Bitcoin (SHA 256). The second one is called ACSA (Advanced Currency Selection Algorythm) which the site claims to be used to switch mining when one coin stops being profitable so that we can keep earning profits which is then converted into Bitcoin. On top of this, they claim to have a friendly customer support in place which can address issues quickly if they arise.
Other supposed advantages include low fees and protection from DDOS attacks (which we think should not be relevant here). The alleged low fees which they claim miners will enjoy can only be demonstrated when we have the opportunity to mine coins on this site without actually risking anything in order to get the algorithm rolling.
The site provides a free mining plan worth $36. This is equivalent to 2 THS of mining power. However, users can upgrade at any time if they feel that the power that they are currently using is not sufficient to generate returns for them. This is a trick to lure people into Bigmine because they know that once you are in, you will be enticed to upgrade.
The problem is that there are no real user feedback for this site. We could try the demo which indeed will generate profits for us. However, when it comes to cashing out, the site will always require some form of ”upgrade” in order to release the mined Crypto currencies. That is where the risk likes.
There is only one investment plan under which customers can mine with Bigmine. This plan requires a minimum of 0.0025 BTC to start mining which the site claims will generate 0.5 THS. But as we have said, we cannot test the paid service if we do not have clear picture of whether this site is paying or not. It appears to be a new site and for that reason, there are no reviews yet. We will have to wait and see whether people will give their feedback. At this moment it is too risky. At the moment, we are only encouraging investors to mine with these reliable Crypto currency cloud mining sites.
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