Cloud mining has been the hype in recent years on the crypto space. It is an easy way of obtaining Bitcoin and other altcoins if you have enough resources, and there are also numerous features such as cloud mining and mining pools, which help small scale miners.
You should also be careful of scam sites, which have also been on the rise. Absolutmining is another Ponzi scheme to lure unsuspecting investors. The website promises investors to join the company with a guaranteed 100% return on an investment after 3-4 months.
The platform also has inadequate knowledge on their site as well as several graphs and statistic sections to try and appear transparent to get more investors deposits. Unfortunately, the company lacks basic knowledge on its website, such as financial reports, to see their performance and to make comparisons to its peers.
Absolutmining claims to be experts in crypto mining while, in reality, they do not disclose any information on their mining location, servers, or the mining pools. Mining is a risky venture, and there are a lot of associated costs, such as electricity and mining farm maintenance. The company has stated that it charges 0% as maintenance costs.
To start earning on Absolutmining all you need is register an account, make a deposit and start earning. The cloud mining site mines both bitcoin and altcoins. The manager of the platform ensures clients do not have anything to worry about and assert the safety and reliability of the mini-farm. A refund policy protects the investment plans offered by Absolutmining.
Absolutmining claims to be a subsidiary of the main company Mining solutions Limited. The company also claims to offer competitive returns regardless of the amount of deposit. The website does not have any information to prove its claims.
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Furthermore, Absolutmining founders, as well as the team, are working behind the scenes in the dark with no information or social media handles concerning them. You should always invest with profitable crypto mining companies in the market.
Absolutmining claims to be a website managed by an experienced team. The platform user interface is easy to use, and you will only need an email to begin mining. It claims to have a large user base and that clients are benefiting and earning passive income. The platform promises users that they will not encounter any losses venturing with them.
The company claims to be operating worldwide and does not discriminate against its clients. Professional scammers are running the website, and details about its location are murky. Ponzi schemes like Absolutmining are always looking for loopholes to violate or amend the terms of service for self-interest. Although the company promises 100% profit within3-4 months, it is hard to plan and guarantee profits, especially such huge profits.
Absolutmining offers a micro-investment opportunity, which also gives small scale miners a chance to join the mining pool with as little as $3. Moreover, the company agrees to grant refunds to users with no charges or questions asked within 48 hours of the passage. It is all well on good on paper, but there is no evidence to suggest that they are true. There are numerous reviews and testimonies on how Absolutmining has failed to return the refunds.
Despite being numerous Ponzi schemes available in the market, there are legit cloud mining platforms that you can rely on. The information concerning the location of the website is shady, as well as the information behind the project owners. The website does not have any FAQ or educational material to assist it, investors. For your financial well being, search for a good and reliable trading company.
Investment plan and returns
The company Absolutmining is responsible for selling mining hash power. The platform can run two types of algorithms; The SHA 256 algorithm and the ASCA algorithm. The ASCA is an Advanced Currency Selection algorithm that Absolutmining uses to ensure the company remains profitable. The SHA 256 is the normal algorithm used by most mining companies. The website offers both altcoins and bitcoin mining. Absolutmining accepts payments via MasterCard, Visa, and altcoins, but the primary form of payment is through Bitcoin, Litecoin, or Bitcoin Cash when purchasing micro-investments.
.A micro-investment is the minimum investment purchase accepted, and it offers clients 50 GH/s at $3. The company offers a registration bonus of 2 TH/s free for one week and can also act as a demo amount. The minimum withdrawal set by the site is 0.00001 BTC, and withdrawal is made immediately, and the amount will be received within 48 hours, depending on the confirmation in the Blockchain. The platform claims that users can get a refund with no incurred cost and no questions asked within two days of the purchase.
Regulation and Customer support
Absolutmining is an illegitimate company operating illegally without the concern for its clients. The company has not registered its website and does not have any certificate of incorporation or licensing documents. The website should have an FCA or FTA cluster, especially since it is a cloud mining service that trades bitcoin and altcoins across the globe. Without any regulative body, it will become difficult for a company to protect its client interest. It is a major red flag because Absolutmining may choose to break the law, and you will not get your investment back.
Absolutmining was originally registered in the UK. However, the domain information suggests it is located in Russia, Lenin avenue 52, Murmansk oblast. Currently, the company does not have a telephone number, and the available contact information is through email, telegram, and twitter. You can find them at [email protected] to ask your questions or complaints.
The Domain insight
Upon further investigations, we were able to gather information about the company, thanks to Alexa.com and Whois.com. The company claims to have an SSL certificate that encrypts information between the website and your browser against third parties.
The platform’s domain name is absolutmining.com, and it was registered on January 26, 2019, and it will expire on January 26, 2020. Additionally, the website has DDOS protection, which prevents personal information as well as funds from being stolen in case the website gets hacked. The company has an Alexa ranking of 8,309,872.
Absolutmining website offers only superficial information and fails at being transparent. The location of the website is sketchy, and there is no physical address of the company. The owners of the platform are also remaining anonymous in their dealings. You should not trust your money with a scam site that chooses to withhold its owner’s identity. The available information on how it rents out hash power and can earn big returns is all unverified information.
Absolutmining does not have a reliable customer care system and will not be available to answer to help you in case of a query or if you need help. Lastly.
Absolutmining is not registered or regulated by any organization, which means it is operating illegally and may face criminal prosecution. It means the company has the power to ghost you with your investment, and it will not have any resistance. You should always invest with legit crypto mining companies in the market.
The existence of such Ponzi schemes is to get new investment funds for its continued existence and will cease to exist one the owners have had enough. Choose wisely and read between the lines to understand superficial information and legit trading opportunities.
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