Bigmine.io Review: Is Bigmine Scam or Legit Mining?

Bigmine.io is a cloud mining platform that allows anyone to mine bitcoins using their hardware. The company enables people to earn bitcoins without the hassles of setting up rigs and equipment.

Clients only require an email to start mining bitcoins with this company. Additionally, the company says they have corporate clients that they mine bitcoins and altcoins.

The company claims to be based in Russia but welcomes clients from all over the world.

Additionally, Bigmine.io claims they are owned and run by a parent company called Mining Solutions Limited. These claims are not verifiable as there are inconsistencies that cannot be ignored.

First, this alleged parent company is not based in Russia. It is based in the UK, and another inconsistency is with the contact details Bigmine.io gives. They give out an incomplete phone number from the UK.

This company is hiding something from its clients. They don’t want to be tracked down. This raises a red flag about the legitimacy of the company.

Companies that hide crucial information from their clients have no interest in creating the best environment to invest in. Ensure you do thorough research to ensure you are investing in a company that operates in full transparency.

In the meantime, you can save yourself some time and invest with thebest cryptocurrency mining firms that have been tested and passed the legitimacy test.

Bigmine.io Review

Bigmine.io claims to be managed by experienced individuals. This claim cannot be verified as the company does not disclose enough details about its team members.

Additionally, they claim to have been in operation since 2013. Contrary to this claim, the website has only been in operation for a few months. The company is still young from what we gather.

The company claims to have over 3,000 active users and over 4,000 purchases. However, this company’s Alexa rank is 8,309,872. This is quite low compared to the level of competing companies.

This means the company is not as famous, and they may not have the number of clients they claim to have. It is clear that the company uses false information to lure eager investors onto their platform.

Additionally, they promise consistent returns with 100% ROI guaranteed within 3-4 months. Cryptocurrency mining difficulty grows now and then. Therefore, it is hard to plan for profits. Consistent profitability requires perfect execution of refined strategies. This company has not been around long enough to develop a winning strategy.

We are not confident that they can make you the kind of returns they promise you. It is wiser to wait out new companies before investing your hard-earned cash.

Moreover, the company does not reveal the hardware they use to perform their operations.

How Bigmine.io works

The company rents out its hash power to clients for a price. The company claims they take zero maintenance fees to ensure they give clients the best prices.

When you register, you receive a hash power of 2THS for 7 days free. Once that expires, you are required to purchase into the product to withdraw any profits made.

According to their website, they run two types of algorithms, the SHA 256 algorithm, and the ASCA algorithm. The SHA 256 is the standard algorithm most companies use in mining.

The second algorithm the company uses is the Advanced Currency Selection Algorithm. This means that the company switches mining to another coin when one coin stops being profitable. The coins are then converted to Bitcoins. This ensures that the company stays profitable.

The platform offers both Bitcoin and Altcoin mining. With the Altcoin mining option, you purchase THQ, which is a share of the Altcoin mining center.

Additionally, the company promises 24/7 customer support. Clients can email the company via [email protected]. The company promises a quick response time to customer complaints.

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Deposits and Withdrawals

The company accepts deposits primarily through Bitcoins for regular purchases. For Micro Contracts, you have to pay through  Bitcoin Cash or Litecoin.

Additionally, you can make payments through Visa, MasterCard, or Altcoins. To use these payment modes, you click the Pay with Changelly button, and the site will guide you through the process.

The minimum investment accepted is $3. This buys you a hash power of 50GHS (0.05THS). This is done through their Micro Investments plan. However, when you purchase a Micro Contract, you will lose all your free trial earnings.

Clients get a 48 hours money-back guarantee with this company. You can get a refund without questions asked within the first 48 hours.

The minimum withdrawal for Bigmine.io is at 0.00001 BTC. The company promises instant withdrawals when you withdraw to Bitcoin Cash. However, if you choose Bitcoin withdrawals, you might have to wait a day or two, depending on network conditions.

The company does not reveal charges customers have to pay for the withdrawal process.

Founders and Physical Location

While the company gives the name of three team members, the founders of this firm remain anonymous. We do not know whether they have any kind of experience in cryptocurrency mining to leverage. Additionally, we cannot confirm that these individuals have any association with the alleged parent company.

The firm claims to be based in Russia. However, their contact information suggests that this may not be true. They give out an incomplete UK telephone number. These conflicting details paint a terrible picture of this company. You should not trust such a company that operates with such sketchiness.

Domain Insight

Details gathered from the company’s website only increase our worries about this company. This company’s website is very young. It has only been in operation for a few months. Additionally, the registration is for a period of 1 year. Companies that do not plan to stay around for long don’t take out long listings. We fear this might be the case with this company. Fake websites are rarely registered longer by fraudsters.

On a good note, though, the company does possess an SSL certificate. This means that data shared between your browser and the website is encrypted and cannot be accessed by third parties. Unfortunately, this is no guarantee for legitimacy. Sadly, scammers also use SSL certificates to pose as real companies.

Bigmine.io boasts of having state of the art protection against DDoS attacks. However, without high traffic rates on the company’s website, we do not see the relevance of this.

All in all, there are many risks involved, and fund safety is not assured with this company.

Final Verdict

This company is packed with red flags. We cannot, in our right minds, recommend this company to you. It is set up correctly how scam firms usually are set up, and this is not a safe environment to invest in.

This company cannot guarantee your profitability. They do not provide a performance record to show they can. Taking profitability out of the picture, this company has nothing to offer you.

Investors are always looking for legitimate firms they can grow their funds in. While there are a lot of fake companies, there still exist legitimate cryptocurrency mining companies that you can trust to safeguard and raise your funds. You only need to be patient and extra cautious.

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