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Mining Cheap Review: Miningcheap.io Pyramid Scheme

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Mining Cheap Review: Miningcheap.io Pyramid Scheme

Mining Cheap is another bitcoin mining scam platform. The company lures investors by urging them to invest today for them to start earning.

The platform registration process is free and fast. The company states that the mining rigs are already put up and running.

Henceforth, as soon as you complete your registration process, all you need is to deposit funds into your account.

From there, the company guarantees investors that they will earn daily returns through mining. The company insists that they are a cloud mining venture, and their concern to make their clients have a stable income.

Miningcheap.io Review

The alleged cloud mining platform has a section that they display the last payouts. The amount is too high, raising red flags.

The mining pool states that physical miners back up all their mining power. The company asks investors for their wallet address, sign up, and start earning bitcoin.

Miningcheap.io makes it sound so easy. You can gain quick money by just sitting around. This is not how the mining sector works.

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The initial mining capital is hefty, and there are numerous charges involved. Mining Cheap does not care to inform investors what percentage of their deposit will be used to cater for the incurred expenses.

For instance, the electricity bills are usually too high; how this company will pay for these charges remains a mystery.

Miningcheap.io has not disclosed the location of their mining farm or their servers.  The way that this company is operating indicates there is no mining activity taking place on its site.

Mining Cheap Scam Review, Mining Cheap Platform

The company has no demo accounts. They assure investors that they can generate a daily return of 0.000025 BTC on their free plan.

They encourage their investors to upgrade their plan to realize a higher yield of 0.005 daily The Mining Cheap company claims that their withdrawal process is handled instantly. On rare occasions, the longer it can take is from 2-4hrs.

The least amount of funds that you can deposit is 0.002 BTC. The platform does not accept fiat currency. The only method that you can deposit money with is through bitcoin.

Mining Cheap Licensing and Customer support

Mining cheap is one nasty platform that does not care about the law. The platform has not bothered to feature any info regarding its regulation.

It is compulsory for any company that is collecting money from members of the public to have the proper credential and to pass the diligence test before starting any venture.

Miningcheap.io platform has no info on their site to prove they are licensed. The company claims that they accept money from all over the globe. Unfortunately, the platform has not even stated where their offices are located.

The company is operating illegally, and they can break the law as they please. Once their platform stops serving their purpose, they will exit the market without being traced.

The platform does not offer its clients support. If you encounter any challenge, there is no possibility of resolving the matter.

How can you trust such an incompetent platform with your money? The company owner is operating anonymously. There are a lot of loopholes with Mining Cheap. The company is not worth your time, invest with credible mining companies.

Mining Cheap Investment Plan

Miningcheap.io has four investment plans ready for its victims. All their plans offer a daily return. If you observe keenly, you will realize that the profit that they promise is very high. The contract period is 200 days for all the plans.

The mining sector used to be a gold mine in the past years, but currently, this has changed. The crypto community has grown as there has been a massive adoption of digital currency.

Miningcheap.io Review, Miningcheap.io Plan

The basic plan is the first Mining Cheap pact. You can deposit the amount worth 0.03BTC, and the platform promises a daily return of 0.00010. You have 3 lucky spins and a bonus of 0.00050 satoshis.

In the standard plan, the pyramid scheme grants 5 lucky spins. The least amount you can deposit is 0.09 Bitcoin. They assure investors a daily return of 0.00033 BTC and 0,00150BTC bonus

The enterprise plan offers a daily bonus of 0.00125BTC and an additional bonus of 0.00125. The least amount of funds that they accept is 0.03 BTC, and you have 10 lucky spins.

The professional plan accepts a deposit of 0.1 BTC. They offer 15 lucky spins and a bonus of 0.0200 BTC. The shady platform promises users a daily profit of 0.00500

The Platinum plan accepts a bitcoin deposit of 0.3. Investors have 20 lucky spins, a daily return of 0.01875 BTC, and a bonus of 0.08000 BTC.

The final plan of this Ponzi scheme is the diamond. It has the false promise of a daily return of 0.03850 BTC and a bonus of 0.20000 BTC. Investors have 25 lucky spins.

Before you engage with any crypto mining platform, ensure you know how the market operates to avoid being scammed. There are a lot of cons who want to steal investors’ money by offering ridiculous promises.

Affiliate Program

Just like all other pyramid schemes Mining, Cheap is not left behind. They have an affiliate program. The platform urges their existing clients to bring as many people as they can for them to increase their earnings.

The Miningcheap.io platform has a total of 15% commission. They have 5-level referral plan; it ranges from 7%, 4%, 2%, 1%, and 1% respectively.

The platform being a Ponzi scheme, it will be difficult to cash out your bonus. The only people that benefit from fraudulent activities is the platform itself, and their promoters.

We found positive reviews recommending this site to users. However, there was no attached evidence of earning from those marketers.

There is normally a conflict of interest between the marketers and the scam platform they are advertising. Be cautious, and look for loophole before you invite any of your loved ones in Mining Cheap.

The Domain Name

We were able to gather useful information from Whois.com and Alexas.com. The domain name Mining Cheap is Miningcheap.io. The registration of the company took place in 09/23/2019 and expires on 09/23/2020.

The mining Cheap platform has a lot of traffic coming in. They have an Alexa Global Rank of 18,243. The company targets its audience from India, Algeria, and Venezuela.

Miningcheap.io Final Verdict

Mining Cheap is a fraudster company that promises users free bitcoins. Unfortunately, there are claims from those who have already invested with them of not receiving any BTC.

You see, there is a big misconception going on due to a lack of adequate knowledge of how the crypto world works.

You cannot attain such returns within a day. Even the legit bitcoin mining platform in the markets are not offering anything close to this to their clients.

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