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HouseHash is supposedly a crypto-currency mining solution designed and managed by professionals. HouseHash claims that they are using only one hash algorithm to mine multiple coins at once.
In this scenario, one mining software will support coins such as Ethereum, Ethereum classic, Expanse and many other coins. Because all these coins have the same algorithm, they can be mined by connecting them to different mining pools at the same time to increase luck and profitability of finding a block and mining it.
HouseHash believes that they can achieve this efficiently and cost-effectively since it does not increase the cost of electricity. This is also because mining is designed to solve algorithm tasks as opposed to coins tasks.
This is allegedly their greatest edge over other cloud mining companies on the web.
Of course this is all possible with the right equipment. But the promised return on investments are too good to be true. Most of the time, when the profits sound too good to be true, it often turns out that the opportunity to make money is just a hoax.
We are now looking at a 1.7% per day return on investment or 54% monthly return. If not, we are looking to make over 600% return on investment at the end of the year.
These numbers are so huge. We definitely don’t believe that such opportunities (where you invest and make money everyday on autopilot and without fail) do exist.
It’s the reason HouseHash has caught our attention. We strongly believe that this business opportunity is all about ripping off investors. There is nothing legitimate about it.
When we snooped at the domain name where HouseHash was being hosted at, we noticed that it was associated with a Panama address.
We don’t know why most of these get rich quick schemes are registered in Panama. Maybe they are owned by the same group of people who purport to run other crypto mining operations on the internet. We may never know the truth here.
When you look at the HouseHash website, you see a very professional design and appeals to the eye. In fact, you can never suspect that this is a shoddy business.
This is mainly because they are promising a modest profit of 1.7% per day compared to scams that promise up to 20% return on investment per day. It makes HouseHash look legitimate.
However, if you do your math carefully, you will see that this percentage will be adding up to 54% at the end of the month. This is when it will hit you that this opportunity isn’t real.
The website has a contact form and email address where potential investors can reach them. But a phone number was not provided.
Generally, a business of this nature must see to it that a phone number is provided to add more credibility and professionalism. This is because some customers prefer calling than sending emails. Others are completely fine with email communication.
Either way, they ought to have added a phone number which can be used to reach them directly. But of course there is a live chat too. We believe that this is the quickest way to get a response from them.
Also, investors ought to know that crypto-currency mining is a relatively new concept. This explains the excitement that has seen Bitcoin breaking the $7,000 mark and skyrocketing further.
An investor who is not aware or one who does not do their due diligence can easily get sucked in by the fad. Yes, this is a big fad where there are too many scammers compared to those who are operating legitimate business operations.
This particular ‘money-making opportunity’ is promising a 54% per month return. It is not possible to make that profit no matter how you want to look at it.
And if you’re doubting, then ask yourself. Why is this thing not in the news? When a ground-breaking profit opportunity resurfaces on the internet, you will definitely see it on TV and in other media outlets as well. By now, everybody would be on it. Everybody would be mining crypto-currency like never before because it’s free to open an account and almost costs nothing to get started.
While the truth is that crypto mining can be profitable, it still depends with your hardware and electricity cost. The reason why crypto-mining is popular in China, for instance, is that they have lower electricity costs, plus their mining rigs are built near power plants. But even the Chinese people, with their robust resources, can only managed a few percentage of profits out of this operation in a month.
HouseHash claims that it is offering 54% monthly return on investment. At the same time, they also claim that they have put a referral program in place, and that means individuals can earn a 60% return on investment per month if they factor in the 5% affiliate earnings.
The question is, why would they conduct this operation for free? Does it make any sense? In fact, this would mean that HouseHash is making a profit of 100% each month for this operation to continue running.
Another thing that we’d like you to ask yourself is this: why are they gathering resources from investors all over the internet?
You see, if HouseHash really means that their business has tremendous opportunity and that they only need funding to begin making money and distributing profits, then why can’t they just take a loan to fund their operations and keep the rest of the profit instead of asking members of the public to join them? It certainly doesn’t make sense to ask people to jump in.
Based on these findings, we can conclude that HouseHash is not making any practical or logical sense. Money making opportunities that leave you asking more questions than there are answers always turn out to scams. And HouseHash is one of them.
If you look at the homepage of this website, you will see that they have listed a couple of features which allegedly make HouseHash the best opportunity in the planet.
They claim that the service is fully automatic (once you make a deposit, sit and relax while they mine Bitcoin on your behalf).
They also claim that their service is fully scale-able and built with reliability in mind. Finally, they claim that their service is accepting all clients regardless of where they come from in the globe.
A 24/7 customer support is also in place to make work easier, just in case you’re lost or need certain questions addressed.
The truth is that all these things don’t matter. If HouseHash is not making sense, from the practical and logical standpoint, then it is a scam no matter the features that have been listed on the website.
You might think that this website is genuine about their mining operations. But the truth is that it is a ponzi scheme. What do they do really? They collect deposits from investors and distribute small profits to their members. They do it in such a way that they will always remain with a big balance as profit. Once they have collected ‘enough’, the thing will collapse with all members’ deposits. We advice that you check out this list of legitimate mining companies instead.
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