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King Mining Review: Another Bitcoin Investment Scam

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King Mining Review: Another Bitcoin Investment Scam

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King Mining is a crypto mining investment clone. The company tries to mimic Bitcoin Nami in its efforts to entice investors into funding the platform. Once you deposit funds with bitcoinnami.io, forget about ever seeing any returns. This is what’s happening with nearly all members of the platform. To make matters worse, no one gets to withdraw even the initial premium. We had to investigate and expose this outrageous outfit. Learn the whole truth in our vivid KING MINING Review.

About King Mining

A better way to invest in crypto mining is by signing up with a proven crypto mining company. With a reliable mining company, you get to enjoy a safe investing environment. Investors don’t need to buy mining hardware or incur costs. The company does this for you as you pool funds to run a large mining firm. It’s the safest option for crypto mining and earns realistic profit margins. Investors use this model to earn with crypto mining companies.

About King Mining

On their white paper and slide presentation, they claim King Mining is the real deal. Before jumping into what they term as the best deal, we have to expose the truth. The platform is a clone trying to steal the thunder of Bitcoin Nami.

They even use a domain name that sounds similar to the real DeFI platform. You should find it weird that the domain name doesn’t match the platform’s name.

This is one of the many red flags we spotted with the platform. Thanks to years of investing and trading, we know how to spot a scam a mile away. The platform claims to create and develop decentralized applications.

In other words, they claim to enhance the blockchain technology revolutionized by Satoshi Nakamoto. They claim to help investors earn through their mining and referral programs.

Account registration

Registering with the platform means providing your personal information. If this were a legit company, it wouldn’t be an issue. With KingMining being a clone, we have to question their intent.

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This includes why anyone would willingly give their address, contact, and full names to a cloned website. For those who opened an account, the process was easy and entirely free. That leads us to the question of why they offer it for free.

You would expect the platform to charge a certain amount for opening an account. The reason they forgo this option is to attract as many investors as possible. Those who don’t have any crypto or mining experience can join.

As long as you have funds, you can sign up and deposit funds. Once you do, the platform claims to make a profit with your premium. It all sounds too easy, and that’s because it’s a scam.

When withdrawing yields for the first time, the platform sends an email with a verification request. You have to send a copy of your ID, bank statement, and credit card details. We don’t see the reason for this as they can send an email link or SMS code for verification.

An expert claims the people behind this are harvesting banking data. It could also be a scheme to create another persona using your details.

Affiliate and referral program

KingMining Affiliate programs

Once you referral users to this platform, they claim to offer an unlimited passive income. There’s a six-stage commission plan available for affiliate partners. Members get 5 percent value on down-line investments.

This means the affiliate partner will get 5 percent of binary income. Before joining their affiliate program, you need to understand the risks involved. After joining their affiliate program, you are considered an accomplice to online fraud.

Members also receive a blow from victims who point the finger at them for directing them to a scam. There’s no need to lose your reputation thanks to a clone website. Avoid engaging with their referral program or end up facing charges.

Are funds safe with King Mining?

Security of funds is a huge issue with cloned websites. With withdrawal being an issue, the safety of funds is out of the question. The numerous complaints make the platform guilty of security flaws.

Bonus and promotions

There are bonuses available with each deposit. The platform allows for pairing these bonuses, which come in six levels. Having bonus pairs is $200 for the first level and $5,000 for the sixth level.

According to the platform, all rewards are released weekly. This has to be one of the biggest bonus features in the industry. Why aren’t people excited about it? It’s because the entire website is a scam.

When withdrawing funds, you have to pay back any bonus amount you received. The platform claims they won’t release funds until you deposit the amount bonus. Even if your account has enough funds to pay the bonus, they demand a fresh deposit.

This is another concrete reason to stay away from them. Once you send the bonus, they will shut you out. It’s clear to them you want to leave and, as such, block withdrawals.

Complaints from users

Social media pages are full of complaints from this platform. Even the Facebook link on their page doesn’t direct users to their actual website. Users are directed to the original Bitcoin Nami page.

We expect Bitcoin Nami to release a press statement soon warning investors of the cloned website. Sadly, investors are posting scathing comments on a platform that isn’t responsible. The people behind this want all liability to fall on the authentic website.

Custodian of the business

Another concern is the identity of the people behind this platform. Despite claiming to belong to BitNami Technology PTE LTD, we refute this claim. With this being a clone, they are using names from the original company.

It’s safe to assume offshore scam artists operate the platform. They tend to use anonymity to avoid having any issues with authorities. It makes it safe from prosecution.

Domain insights (bitcoinnami.io review)

234 is the number of days the platform has been running. According to domain records, the website went live on September 12, 2020. The name of the registrant has been withheld for privacy reasons.

IP address also shows the website resides in California. It means the people behind it are using a server located in California. They try and use every trick in the book to remain anonymous.

Features of King Mining

Membership plan

King Mining Investment Package

King Mining promises to deliver high interest to members. The platform promises 300 percent of the profit from the investment value with the mining program.

They also claim to make 5 to 12 percent monthly profit for the $500 deposit amount. The platform claims to cut down intermediaries during the transaction process.

We have to be honest and state there’s no way of guaranteeing such profit margins.

Payment options

The platform accepts bank and wire transfers as a mode of payment. They will recommend using e-wallets for future transactions. There’s no need to deposit any amount as withdrawal is impossible.

With no one coming out with proof of profiting with the platform, we don’t recommend it.

Registration and license of King Mining

King Mining is not a licensed or registered mining or investment platform. We checked in all major jurisdictions for their license status. They even don’t pose any license or registration document such as a certificate of incorporation.

Scam or Legit King Mining

bitcoinnami.io Contact and support

King Mining is a cloned platform trying to defraud naïve investors. Please stay away from them.

Our verdict

With proof this is a clone, we have to add them to our blacklist.

Make the best decision when it comes to crypto mining investment. Go for tested crypto mining companies.

Our team wishes you all the best in your crypto investment journey.

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