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Mycoincloud.com Review: Is My Coin Cloud Scam?

Mycoincloud.com Review: Is My Coin Cloud Scam?

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MyCoinCloud is a mining service provider with their location established in Sofia, Bulgaria. The website claims that their company was established in late 2015, a claim which we were able to verify because the website itself Mycoincloud.com was created in 2015. This is consistent with this claim. They also claim that MyCoinCloud was founded by some Crypto currency and IT experts, although these people remain 100% anonymous. The real owner is hiding behind who.is privacy feature, which makes it impossible to discover their name. Currently, My coin cloud is offering mining contracts for various Crypto currencies which include BTC, ETH, ZEC, BCC, ETC, XMRand LTC. Surprisingly, MyCoinCloud are for a lifetime and the payment is one time. There are no additional fees to be paid once an investor has subscribed to one of their mining plans.

MyCoinCloud

The company also claims to deliver their services to both individual investors and corporate clients who want to invest in Crypto currency mining. It should be noted that finding lifetime contracts in Crypto currency mining is impossible these days because of the fact that mining has really become an expensive affair. The price of Crypto currencies have been falling and recently stabilized at low prices compared to what was witnessed in 2017. Other costs associated with mining such as hardware maintenance and cost of electricity are also an impediment, not to forget that mining difficulty is always rising due to the stiff competition that is posed by thousands of miners around the globe. Therefore, the claim that MyCoinCloud is offering lifetime contracts is just too good to be true.

And of course if you are wondering whether MyCoinCloud is scam or not, you should read this review because we are about to reveal the truth about this mining operation. There are mixed opinions out there in reviews that people have published on the forums. But you generally cannot trust forums that are not reputable because some allow spam reviews into their forums after the admins have received a pay. In case you need to start mining, our recommendations is to find out what these companies can do with your Crypto currency. We bet that you will be glad that you purchased a contract and your money plus profits were returned back to you.

MyCoinCloud review

MyCoinCloud runs and maintains a Facebook page that has around 700 users. But in 2017, the company claimed that they had registered 1000 active users. So we are supposing that the number of their social followers could have gone up. But this is not the case. Initially there seemed to be activity among these users on their Facebook page. But since then, these users have stopped commenting or inquiring about the service. In short, user activity has died down on this page. Some users have also suggested that My Coin Cloud is a mining pool rather than a cloud mining platform. The truth cannot be established at this time because these guys are selling mining contracts which run for a lifetime.

Also, our findings go hand in hand with the company’s alexa ranking since the service used to be very popular sometimes in 2018. Traffic to the website has slowly been going down since then, which could mean that MyCoinCloud is losing their clients fast and thick. This could be attributed to the fact that many people have started to perceive that mining of Crypto currencies is no longer profitable. We admit that indeed it is not like it used to be 3 years ago. However, there is a way people still make money with Crypto currency cloud mining. The secret is to find a reliable cloud mining platform and invest in a substantial amount of hash power. If you invest in small hash power, you won’t be able to make enough profits.

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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.

The site and the contracts

MyCoinCloud’s website looks very professional and neat. Things are well organized for the first time customer to know where he should be going in order to get started. There are 3 types of mining contracts on the site. These mining contracts are labeled ”Lifetime BTC Mining”, ”Lifetime Eth mining” and ”Lifetime ZEC mining”. The company claims that each one of these plans come with zero downtime, low fees, most efficient miners and the ability to mine until the contract is most profitable for you.

The site claims that they are operating a data center with a capacity of 2600 KW/h. The equipment is said to have been built with state of the art technology to ensure optimal power generation and performance. There used to be a video which allegedly showed the mining facility but this video is no longer being hosted on this site. The question is why they pulled down this video from the site. What was the motive?

With regards to the maximum power output that their data centers can produce, we are not sure whether this amount of power can meet the demand that their users have created. Also, we are not so sure if data centers exist here in the first place, but if they do, there should be sufficient evidence of the same.

The site also provides a clear road map showing where the site has come from. They started in 2015 and in 2016, they had 100 customers. In 2017, they gained 1000 customers which could explain the spike in traffic around 2017 and 2018. This is the time when Bitcoin mining was very popular, so we are not surprised. These numbers could be real.

And of course MyCoinCloud claims that they are focused on infrastructure improvement on their site, which is not a bad thing provided proof can be produced. Having said this, one might wonder what the conclusion of this review would be.

Our best advice for you

While these guys must have established this business a couple of years ago, we fail to understand why MyCoinCloud never made it to the list of the most popular Crypto currency cloud mining sites. It could be due to poor marketing strategy or something else. All in all, we are not recommending it yet.

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