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Mivhash.com Review: is mivhash Scam or Safe?

Mivhash.com Review: is mivhash Scam or Safe?

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Mivhash is a cloud mining service that allegedly uses renewable energy and latest technology to mine more Crypto currencies efficiently and cheaply. However, we have analyzed their Crypto currency cloud mining plans and the prices are awkward. There are 6 contracts in total and each plan is designed to mine a specific Crypto currency. So if you want to mine Bitcoin for example, there is a plan for that. Those who want to mine Litecoin would use a different plan for that as well. According to their about us page, MivHash consists of a team of blockchain experts, entrepreneurs, investors, crypto mining experts and climate change experts who are working towards the same goal which is ensuring they can maximize the profit of their investors beyond what any other platform can offer.

They claim that they are reducing emission and also the cost of electricity by using wind and solar instead of regular energy. Mivhash goes ahead to bash other Crypto currency cloud mining sites saying that they are scam like and that they are damaging the planet in addition to the wallets of their investors. We hope you can detect the sarcasm in this statement. They claim to deliver cheap and reliable cloud mining services to internet users since their machines are using green energy. So the main selling point here is that Mivhash is using green energy unlike all the other sites.

MIVHASH

Mivhash also admits that they were founded in the year 2018. So this means we are looking at a relatively new Crypto currency cloud mining service. Nothing is guaranteed with new companies that claim to mine Crypto currencies in the cloud and that is because there are currently hundreds of sites claiming to mine Crypto currencies in the cloud when the actual truth is that they are collecting deposits and planning to run away with them. Can we trust Mivhash? No we cannot. And the first reason why we cannot trust this service is very obvious. The site is new and we don’t mine with new sites anymore due to their unreliability. We may give them a chance but we do not feel that this is worth it even. For that reason, those of you who are actively looking for reliable Crypto currency cloud mining websites can search here instead. That page contains our compilation of the most trusted Crypto currency cloud mining sites on the internet.

Mivhash review

When you sign up, this website claims that you can get hash power for as low as $0.5/10GH/S. The minimum withdrawal threshold is 0.05 BTC and this gives the impression that investors can withdraw easily and any time they like because their mines are generating huge profits quickly. However, it is not clear who is behind Mivhash. They have not disclosed the founder or the CEO of this operation. They have also not introduced any of their alleged team members. It would have been better if they made this introduction since they are claiming that this is a serious project and thus introductions must be made. Otherwise, lack of transparency is the number one reason why someone would not trust this site even if they were ready to start mining with a Crypto currency cloud mining site.

They also claim that they are keeping good standards in order to satisfy their investors. We need to confirm this in customer feedback. If this is not available, there is no way this website can justify this statement in front of their audience. This is actually more like a marketing gimmick than a fact.

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Maintenance fees is also very minimal – according to the highlights on the site. We are not sure how this company is managing to get its profit margins if they are claiming that their maintenance fees are low and at the same time generating immense profits for their audience.

We have done our calculations and discovered that the returns are not making any financial sense. According to Mivhash, 200 USD can buy 4000 GH/s of hash power. Now you have to understand that Bitcoin mining difficulty is on the rise. This means that no matter which energy source we are using, we are always going to face this rising in mining difficulty. While they site claims that their maintenance fees is quite low, meaning that their data centers are not costing them a lot of money to maintain, nobody can say for sure that this is the truth regarding this site. Perhaps this is just a trick to market the site effectively. We have seen hundreds of similar sites before claiming that they have lowest maintenance fees when they are actually not even mining any Crypto currency in the first place.

Now, in the real world, buying a SHA-256 contract for $200 would give you much less. In fact, 4000 GH/s of mining power (which this site is selling for $200) is not realistic because the current price for this amount of hash power is $5000. Their mining calculator is therefore far off the mark and you have to understand that this is a method which scam websites use to misrepresent facts and trick investors into sending them funds. In short, the price for selling hash power is not genuine. You will get something different. In fact, we even suspect that this is not mining because the calculator does not represent what happens in the real world.

Our best advice for you

There are a number of things that we often look at before we recommend a site to our readers. Mivhash fails terribly in passing the test and we cannot recommend it as a reliable place for mining Crypto currencies. In the meantime you can mine Crypto currencies in the cloud using these sites. 

The site above have proved to be quite reliable. Most of our readers who have used them claim that they have performed a few withdrawals ever since they signed up. There are also a lot of positive customer feedback out there. We do believe that these sites are currently the best.

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