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MinerHash Review: Avoid this Goofy Scam!

MinerHash Review: Avoid this Goofy Scam!

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Due to public demand and the popularity of MinerHash website, we’ve decided to review it. The website claims that MinerHash is a company that is registered and based in Panama. The full name of this company is MINER HASH CLOUD MINING TECHNOLOGIES, LTD. They claim that this company was formed to bring advanced cloud mining technology to the masses to allow the average person earn Crypto-currency profits.

Since MinerHash is in charge of running the software, hardware and paying for electricity and bandwidth, investors only need to trust them with a minimum investment of $100 per contract.

Note: Check out this link and follow the recommendations if you want to mine Crypto currency profitably.

Away from that, we see that this company is now encouraging members of the public to send deposits in Bitcoin so that they can multiply it. Profits are consistent and are issued on a daily basis.

But what makes us really suspicious of this company is the promise that you will make 0.5% hourly interest on your deposit for the rest of your life. That’s the minimum that one should expect to make in an hour.

In terms of daily profits, members are promised a minimum of 12% per and a maximum of 25% daily profits. This has never happened and cannot happen anywhere. Believe it or not, those values don’t make economic sense, and this makes us believe that MinerHash is just another ponzi scam.

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minerhash review

MinerHash Review: The scamming elements are written all over the website

The ultimately profitable plan on this site is supposed to generate over 1% of profit per hour automatically and forever.

If you think of it in terms of 30 days profit, you will realize that this translates to 750% monthly profits, which is not even realistic.

This is definitely something else, not Crypto currency mining. With Crypto-currency mining, people don’t make that much profit in a short period of time. The reality on the ground is totally different from what you’d expect.

First of all, Bitcoin is the most popular form of Crypto currency on the internet. Other Cryptos like Ethereum, Dash or Litecoin are not as popular, and that means their demand isn’t as higher as that of Bitcoin.

MinerHash does not say whether they are focusing on Bitcoin or all Cryptos collectively. But if they were to focus on Bitcoin alone, it would be nearly impossible to guarantee daily consistent profits due to the increasing mining difficulty.

The same applies to the other coins too. They are not in high demand, and that means they can’t be as profitable.

The bottom line is, MinerHash is promising returns that are unrealistic and unbelievable. They are definitely impossible to achieve with any legitimate mining company.

It’s therefore evident that these guys are selling a pipe dream — an unrealistic dream that no sane investor would want to bet their money on.

In fact, when you look at those plans, the agenda of MinerHash becomes apparent. You get the feeling that this can’t be true. Your conscience begins to doubt whether this is real.

If you’ve ever felt so when looking at some of these websites, do not doubt your conscience at all. The truth is that they are scams, and that includes MinerHash too.

But they are a registered company in Panama?

Since they are registered, some people might think that MinerHash is legit?

First of all, company registration isn’t published on their website, so it’s hard to verify their legitimacy and whether or not they are registered in Panama.

We are under the impression that this is a scam hiding in Panama and only accepting payment in Bitcoin because those payments are untraceable and irreversible. That’s the sad truth which you need to know even before you spend your coins chasing the wind.

How it works

There is no positive intentions here. Their FAQ page addresses this question very well. First of all, you can’t withdraw your seed capital because MinerHash claims it’s supposed to stay with them forever so you can earn daily profits.

That’s a huge red flag there because we do not see why this company should have the right to withhold your capital if you want to opt out. It’s outright thievery.

So basically when you want to join, you’ll need to sign up and send the minimum required Bitcoin to an address which they’ll provide you with.

Another thing that caught our attention is that this was a cloud mining service which didn’t keep any hardware, software or paid the costs involved in mining Cryptos. So how do they actually make profits?

This question is addressed in a vague way. They claim that they are making profits simply because they are a cloud mining company. There is no mention whether they rent equipment or own data centers.

This area of the company remains grey as the FAQ page doesn’t address these concerns at all.

Proof of payment

Is there proof that MinerHash is paying out people who join them? Well, we are afraid that no proof of payment has ever been published on their site up to now.

minerhash payment

And we are not talking of those randomly-generated Bitcoin addresses which they claim to belong to members who got paid. These cannot be verified, so they are obviously fake.

Unless there is something else that we don’t know, we have the right not to believe those records.

Customer feedback

MinerHash doesn’t have any verifiable customer feedback, which means that it’s a tough job trying to find out which investors are currently mining Bitcoin with them.

Etbot

There are a few mentions of their names in popular Bitcoin forums on the web. But none of these people seem to have used their service before. It’s like people are just inquiring and leaving it at that point because they aren’t confident about this company and its ability to make profits.

But of course MinerHash reviews do exist in blogs out there. Does it mean that these writers used the service, and are now telling the world about their experience with MinerHash?

No way. We haven’t come across such a review on the internet. Instead, we have come across multiple reviews written by people who are just talking about MinerHash. There is a difference between talking about something and actually talking about the same thing when you have used it before.

We can say that these are novice reviews so far. Those cannot be trusted.

On the other hand, some reviewers are already labeling it a scam, which we fully agree with because the evidence is right there on their site.

Those earnings are unrealistic. No one has ever earned that amount of money while mining Bitcoin. It’s impossible.

Our best advice for you

We forgot to mention that MinerHash is an anonymous company. The owner is very secretive with his identity. That worries us because already they want you to send them Bitcoin anonymously when they don’t even have their names out there for people to know who they are.

Their professional qualifications is equally questionable. These days everyone claims to be a Crypto currency mining expert. You cannot really trust everyone in this industry.

So our best advice is to definitely steer clear of this scam before you lose your money.

For those who are looking for legitimate cloud mining services, this link will always lead to the right place.

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