BitMiner is a stubborn and malicious scam. The website, which is hosted at Bitminer.io, is competing with established Cryptocurrency cloud mining sites on the internet.
At the same time, it is committing all its marketing campaigns towards an audience that is easily susceptible to its lies and deceptions.
Please note: BitMiner.io should not be confused with another scam hosted at Bitminer.eu. These are totally different entities, although they all proclaim the same service to their respective audience.
Besides this, we’ve also learned that Bit Miner is the sister site of another cony website by the name Start Miner.
In that review, we stated very clearly that Start Miner was a high-ranking ponzi scheme. Therefore, it only makes sense for Bit Miner to steal even more money alongside its sister site.
Thankfully, this review will expose the shady website and explain to you why you should not risk your coins here. It’s not worth your time and money.
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Well, this is a ”free” service to participate in. They claim that they’ve mined over 3000 BTC in the last 561 days of operation. That’s quite astonishing. Nobody would believe these claims if evidence wasn’t presented. Unfortunately, no evidence was given to back those claims. So we can only assume that someone is just making claims. Until they are verified, the status quo is maintained.
Bit Miner asserts that they are the “ultimate mining pool” website around. Users are offered 4 premium plans in addition to the free plan which Bit Miner claims is totally FREE.
When you look at the website, you will see that the template is very basic. For a Cryptocurrency scam like this, we must say that this is a very long time to exist while not being detected.
When we analyze it further, we realize that Bit Miner is just a clone of its sister site, Start Miner. They have one thing in common. They are all ponzi schemes.
So, why is it that Bit Miner was able to survive this long? Perhaps this has to do with their affiliate program. The site puts more emphasis on its affiliate program than in Bitcoin mining.
What this means is that the site is only concerned with collecting coins from members of the public and paying out profits from a small percentage of the day’s proceeds.
They are quite focused on drawing traffic and ultimately deposits as opposed to actual Bitcoin mining. Maybe this is their definition of Bitcoin mining. We may never know.
They are run by the same company that is in charge of Start Miner. This company is called Bitminer Cloud Eu LTD. The company is registered with the address 20-22 Wenlock Road, London, England, N1 7GU.
The company registration number is 09951039. The alleged CEO of this company is someone called Giacomo Bugini. When we investigate his two companies further, we realize that the company Bitminer Cloud Eu LTD is listed with the status ‘Active proposal to strike off.’ That means that the company is not able to service its debts. Ultimately, we get a good hint that even if you join Bit Miner, the chances of getting a payout will be very slim indeed.
You see, we want you to understand one thing. If you have already sent them some coins, the likelihood of you getting those coins back is as unlikely as winning a lottery.
Because it has existed for some time, there must be good community feedback around.
We checked those on popular Bitcoin forums. We discovered that victims were complaining about the inability of Bit Miner to payout profits or even return deposits.
In these forum threads, users confirm that Bit Miner is a real scam because they are promising too-good to be true hashpower for profits. When you compare what they are offering to what legitimate Cryptocurrency sites are giving out there, you will see a very big difference, which indirectly confirms that something is clearly wrong with this website.
At some point, this website was asking users to install a browser plugin in order to use their free Bitcoin mining feature. Most of the time, these plugins are just keyloggers which aim to steal your passwords. When installed, you can be sure that all your Bitcoin and even online bank accounts will be wiped out in a matter of minutes. It’s that serious. So why risk losing more money than you can afford to lose when you can avoid this risk altogether?
We want to warn you once again. The company behind this site is almost filing a bankruptcy declaration. On top of that, Bit Miner is not processing any withdrawal requests from its customers. That means we have a big red flag in our books now.
We cannot overlook the similarities that this site bears with its sister site, Start Miner. On top of this, their business model is that of a ponzi scheme.
We did our research dating back to when the site was launched. It started out as a legitimate Bitcoin mining pool before complaints began hitting them left right and center. Majority of those complaints were coming from people who didn’t get their withdrawal requests honored.
As you may have learned by now, this kind of business model is only implemented by Ponzi schemes. In their early stages of existence, they tend to issue payouts. The early bad often catches the worm. But later on, the ponzi scheme goes into a bankruptcy stage because it is not able to pay its new members due to lack of new signups and consequently deposits.
When the owner sees that he is not able to pay its members anymore, he simply stops issuing any payouts. On the other hand, if there is any deposit to be collected, the site will gladly do so at the expense of the naive investor. The owner will keep enriching himself while ignoring the fact that so many people under him are looking up to him for a piece of the pie.
As mentioned before, there are 4 membership plans here. These plans are similar to those found at Start Miner. The free plan promises 40 Satoshi and 0.0006 Bitcoin per day.
The ultimate plan promises 70k Satoshi per minute. You can expect to make ”1 Bitcoin every day” using this plan.
Now that the company is not able to pay its debt or process any withdrawal request due to sheer greed and other unknown factors, we should avoid it like the plague.
To confirm what we are saying here, just type the words ”Bitminer reviews” in any search engine. You will most likely end up with a barrage of nasty user reviews in popular Bitcoin forums. They all confess the fact that this is a rip off.
We only have one very simple advice: stay away! The site is very popular, just like its sister scam site, Start Miner. That means lots of people are losing money here. But we don’t wish our readers to go through the same experience. So if you still want to mine Bitcoin, we advice you to sign up with a legitimate mining company through this link.
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