Mivhash is a Ponzi scheme only registered for a period of one year. It is highly likely that they will not be in existence after this period. The company was launched in March 2019, and the owner of the platform is unknown.
The firm is registered privately, and some of the crucial information is hidden from a member of the public. The platform is allegedly dealing with crypto mining. It brags of being founded by various investors with adequate skills in the industry.
Mivhash claims that they only have one intention, which is to maximize the return of their customers. The company believes it is the best in the market due to their conversant in this niche. However, they lack enough evidence to prove their claims.
It doesn’t face high electricity charges that other mining firm faces due to the utilization of solar and wind energy. Sadly, this is mere propaganda. If you want to invest your cash, make sure you use reputable mining companies in the market in the market that are transparent and legit.
The company boasts of their team of experts who are blockchain enthusiasts, entrepreneurs, climate and cryptocurrency experts, as well as investors. Unfortunately, the platform has not showcased these people to the public.
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Mivhash expects us to believe in their word blindly. It will have been better if the platform presents its clients with managerial reports that can attest to the qualifications of their team. Without any tangible proof, we term their venture as a Ponzi scheme that only cares about their clients’ money.
The company is assuring investors that their main goal is to transform the cryptocurrency mining venture. Unfortunately, they have not done much to keep their end of the bargain. You will have to follow their procedure for you to become their next client.
You will have to sign up on the website, then buy a mining contract that is affordable from as low as 0.5 dollars. Then you can start receiving your income daily. To process your withdrawal request, you will have to attain a minimum amount of 0.05 BTC. All the claims of Mivhash are bogus and unattainable.
The company is calling out another pyramid scheme in the market, yet they are the biggest scammers who are pretending to be transparent. High electricity charges often contribute a lot to the daily payout of investors.
However, it has become challenging to determine the real cryptocurrency mining entities due to the significant rise of scam companies. Mivhash is the bragging of utilizing renewable energy. Unfortunately, it does not disclose its data center location, all other mining tools that they are using.
How Does Mivhash Operates?
The method that Mivhash claims to be utilizing can be useful and benefits investors. Many mining companies are using renewable energy to offer a favorable return to their customers.
In addition to their mining contract, the platform also has an affiliate program that promised investors a 10% commission when they introduce new clients to their website. Once you confirm your payment, you can start receiving your earning within a day.
The company assures investors that they will only charge minimum mining fees, unlike other platforms in the market. However, the figures are not disclosed. It can be hectic for their customers since this is a Ponzi scheme; they can charge high chargers without anyone asking.
Your earning will only be visible on your dashboard, but upon requesting to cash out, it is highly likely to turn out to be a cat and mouse game. Considering that you will be investing with anonymous people, we do not recommend you deposit a single coin to this platform.
The company is still new in the market, and they have not acquired an excellent reputation for the time that they have been in existence. With what they are offering, they ought to have a large number of investors and traffic coming into their system.
The Investment Plan and Returns
Mivhash has various mining contracts that run for a period of two years. The company is mining different cryptos like Bitcoin, Ethereum, Dash, Litecoin, Zcash, and Decred.
The suspicious company is offering free hash power when you purchase a certain amount of currency. The payment is allegedly made automatically using the crypto you have ventured into.
The company wants investors to deposit more funds for them to earn more. The notion is misleading venturing with Mivhash will never need to make a profit. Their payout is too good to be accurate, and considering that there are currently mining difficulties in the market, you should keep off.
Regulation and customer support
Mivhash is a platform that is not regulated by any financial watchdog in the market. The Ponzi scheme is a cloud mining venture that is collecting funds from investors across the globe. Sadly, it is doing it against the law, risking being prosecuted.
Investing with an unregulated platform often leads to making losses since no one supervises their investment activities. Such companies can violate their term of service without caring. Moreover, the Ponzi scheme does not avail of any contact detail that investors can use in case they want to resolve any issue.
Mivhash also fails to disclose their physical office address. The lack of transparency that this company process is worrisome. It is not a good sign considering they are dealing with clients’ money. They should give people more reason to trust them.
The first thing that you should check for when investing is the safety of your money. Mivhash is not secure because it is asking investors to deposit money using cryptocurrency while they remain anonymous. The possibility of depositing funds directly into a scammer’s wallet is very high.
Additionally, there’s no method of recovering their amount once you cash in cash in. The company does not have financial reports that you can use to determine their credibility. Avoid sharing your personal information with an entity like this one because they can sell it to that party using it against you.
The company is trying to win the trust of investors by offering them attractive deals with low maintenance costs by claiming to use renewable energy. Unfortunately, Mivhash fails to provide information that can prove they are indeed a mining firm.
Red flags surround the platform; we do not recommend using their services. The company also does not have any feedback from investors who have earlier engaged with them. It creates many distrust rates because we are not sure investors have involved with the company.
It is best to research any investment firm before depositing your money, and this will ensure fraudsters do not scam you. Trusting the wrong entity will cost you dearly.
Mivhash is a deplorable Ponzi scheme that is shamelessly collecting funds from innocent investors intending to steal it all. There is no mining process taking place on this website, and you should watch out for your safety.
Invest with legit cryptocurrency mining companies in the industry that disclose their data center location to the public. Additionally, they will also have a licensing certificate from recognized regulatory bodies. Any company that is operating in a shady manner like Mivhash should not be your first choice.
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