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Cloudmining.store Review: Is Cloud Mining Store a Scam?

Cloudmining.store Review: Is Cloud Mining Store a Scam?

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Cloud mining store claims to be a company that was founded by the owners of Hashcoins back in 2015. They also claim that in a short time, Cloud Mining Store has become one of the largest providers of computational power for mining Bitcoin, litecoin, ethereum and other crypto currencies. Cloud mining store also claims that they have employed a team of engineers, developers and specialists and have since added more facilities in 2016 to cater for their growing client base. They allegedly have 2 500 000 users.

The domain cloudmining.store was created in 2014. However, the number of their client base seems exaggerated. But before we discuss whether or not this number is real, we need to look at what the company is offering and the features which they claim to offer. Is this the most ideal Crypto currency mining destination? Is this a scam? Most newbies want to know. The good thing is that it should be obvious when this is a scam. Based on what they promise, we should be able to know whether or not Cloud mining will scam us. But there is also another trick that we want to tell you. That is, even though Cloud mining store seems to have been created in 2014, scammers can also buy old domains for purposes of lying to their audience that their business is established.

We therefore need to think twice before we believe that Cloud mining store was created in 2014. Unfortunately, there is no way we can establish the ownership of this domain and whether or not it changed hands. The company also claims to be giving out free 100 GH/s of hash power. The estimated daily profit for this amount is 0.0005 BTC. On top of that, the company is offering 100 satoshi for every user that joins under your referral. On the homepage of Cloud mining store, there is a table that allegedly shows past transactions in Blockchain.

Cloud Mining Store

Of course all this is meant to persuade that Cloud mining store is the real deal. The question is whether or not Cloud mining store will deliver what it claims to offer. By the way, for those of you who want to mine with credible Crypto currency cloud mining sites, this page will be of much help. Find a website and sign up to start mining immediately.

Cloud mining store Review

Cloud mining store claims that their data centers are situated in Europe, China and USA and are promising an up time of 99%. The minimum deposit to getting started is 0.002 BTC. There seems to be no specified investment plans and we don’t even know how much hash power they are selling for a particular amount. Instead, they are only providing us with a minimum deposit and telling us that mining will start immediately after we have paid that amount of money.

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Note: If your language is not English, you should use the language dropdown menu at the top of their page to select your language.

However, there seems to be a major problem in how Cloud mining store makes these claims. First of all, we cannot establish the truth about the claim that they have data centers in the mentioned countries. While most cloud mining platforms do not want to reveal the exact location due to security reasons, it is always helpful to show us a video or some kind of proof that shows they have a mining facility and that this mining facility is fully operational. A walk through video would help a lot to prove that they indeed have facilities from where mining of Crypto currencies are taking place.

We don’t want to rely on claims only. We want to rely on facts. The other observation that we have made is that most of these so called Crypto currency cloud mining operations will lure investors with a free mining plan to allegedly help those miners test their platforms. This is a trick they use so as to convince users to upgrade and when that happens, they get scammed.

In this case, Cloud mining store is providing 100 GH/s of free hash power. We are sure that this is a trick and the user will see increment in the amount of Bitcoins that is allegedly being mined. They will quickly reach the threshold for withdrawing their proceeds. In this case, the site will ask them to ”upgrade” so that their withdrawal request can be processed. The scamming will start right away as soon as the user deposits the amount that they needed in order to perform the alleged upgrade.

Are we saying that Cloud mining store is operating in this fashion? Chances are very high. That is why they have a free mining plan where they claim to give new users free 100 GH/s of hash power. You just need to be very cautious.

Cloud mining store is not transparent

They are not transparent in the sense that the investment platform does not talk about the background of their company. While they claim to have a link with a company called HashCoin, it is difficult to establish this relationship. It is not clear whether there is actual proof that this is so. The other concern is that in a genuine Crypto currency cloud mining operation, we have plans from which customers can select from. On the other hand, a ponzi schemes only asks users to deposit a certain amount of money so that mining can start.

At this point in time, you may wonder which category this site falls in. The most obvious answer is that it is a ponzi scheme as opposed to a genuine Crypto currency cloud mining operation. All ponzi schemes claim that they have data centers in Europe, US and China. All ponzi schemes tell people that if they deposit a certain amount of Crypto currency, they will make profits based on what they have deposited. And finally, ponzi schemes do not give real evidence of Crypto currency mining activity. They are most of the time a suspicious project.

Our best advice for you

Cloud mining store is not a very reliable Crypto currency cloud mining operation. If you want to mine Bitcoins, you can do so with reputable sites here. 

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Cloud Mining Store
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