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According to the official website, this company is registered in the UK under the name DREAMHASH CLOUD MINING TECHNOLOGIES, LTD. They have even provided their ‘licensing’ number on the site as 10750138. But our investigations reveal that this is not a true license no. It’s total forgery. On top of that, no company in the name of DreamHash is registered and authorized to carry out crypto-currency transactions on behalf of its customers.
Nevertheless, DreamHash insists that it is a real company in the UK, and that its aim is to make you grow your cryto-currency because they trade it for profit and you earn the difference.
The company also claims that payouts are processed instantly. In fact, if you check out this page, you will find what the company refers to as ‘proof’ of payment.
Alert: Our recommended and 100% legitimate and genuine bitcoin mining service is Hashflare™.
As we perused the website for more information on the credibility of this company, things became even more interesting in the process.
The company claims that you you earn between 10-12% daily return on investment when you do business with them. This statement immediately raises eyebrows because we don’t know of any project that can give you those returns on a daily basis.
And if you are a frequent reader of this blog, you should remember that we have always said that scammers are now taking advantage of the cloud of ignorance that is covering the Bitcoin world.
Somehow, people believe that it is easy to make money with crypto-currency trading than any other form of trading. They tend to associate crypto-currency trading to some magical form of trading that yields more instantaneous profits than, let’s say Forex or stock trading.
But in reality, trading is just trading. It does not matter what instrument you’re trading because the market will always move from one point to the next, thus you will either make a profit or a loss regardless of whether you’re in Forex or crypto-currency trading.
So let us get this out of the way first so that we can concentrate on what DreamHash is and how they intend to rip you off if you’re not careful.
According to the official website, the minimum investment is 0.001 BTC which is about $6. On the other hand, the maximum deposit they are asking for is 100 BTC. This is an equivalent of $530,000 by estimate.
With all this hype, do you still think that it is worth putting your money here?
First of all, we found out that this was not a real ltd company in the UK. The licensing no is fake as well. So you can be sure that no company in the name of Dream Hash is registered in the UK company directories.That level of dishonesty is quite disturbing.
Secondly, the owner of this website just decided to publish some statistics to give the impression that their project has been running quite successfully.
For example, the website now claims that members have cumulatively deposited Ƀ 79.95504378 and cashed out Ƀ 17.51926502. They also claim that this company currently maintains up to 13530 active user accounts and that this number is growing by the day.
Of course there is no way of proving that these numbers are real. They remain claims which can’t be verified. Also, given the fact that this ‘company’ operates with a fake license, we have the right to doubt these numbers. There is no way these stats can be real. You can take this to the bank.
Now that DreamHash claims to be a UK-based cloud mining company that deals with Bitcoin on behalf of their members, it was only expedient for them to publish their trading results on the site. This kind of transparency is very necessary because, the moment you visit that website as a visitor, you’ll be able to see what is happening right away.
So far, we do not know how the performance of their mining operations look like.
Although DreamHash comes across as a cloud mining company that makes Bitcoin mining convenient because investors are not required to invest in mining hardware, we still believe that this company doesn’t realistically offer what it claims to offer.
But in our view, using unverified statistics to make ridiculous claims is the number one crime that DreamHash has been making. We are certainly not convinced that this company will mine crypto-currency on your behalf.
Cloud mining companies do exist. We know a few established ones that do this kind of business. But they have never guaranteed their users any profit or percentage of ROI.
Cloud mining companies basically save users from the high cost of electricity which is associated with mining operations. The hardware often involves powerful computers which can drive the cost of electricity high up in the sky. So that’s why people opt for cloud mining companies to mine on their behalf.
Earning 12% per month is definitely not possible with this website. You should not even dream of earning a single nickel from this company because we don’t have proof of their trading activities yet. The same applies to their supposed payment record. There is no way to verify whether or not those records are legitimate.
Now, that is exactly the essence for providing a fake registration number.
The fact of the matter is that this website is soliciting the public to send money to them yet they are not authorized to provide financial services to anyone in any shape or form. We are 100% sure that UK regulators are still not aware of their existence.
They first need to seek for a license from the FCA. If not, then we can comfortably conclude that this is an illegal business operating under the cover of darkness with impunity.
What is more, you should realize by now that DreamHash does not accept payment in Credit card, wire or PayPal. Instead, they are accepting Bitcoin payments only.
Bitcoin payments are untraceable and irreversible. What assurance do you have that you will get your money back? It’s nil. In simple terms, this means that once money is sent, that’s it. Nobody can help you recover it.
The fact of the matter is that DreamHash is a big scam whose intention is to abuse crypto-currency in the pretext that they will be trading on your behalf. They refused to show us evidence of their trading. On top of that, we were not able to verify the authenticity of their statistics. Avoid them.
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