Mycloudbtc.com claims to be a Bitcoin cloud mining website with 20,000 active users. They also claim to be a private mining room that has access to cheap electricity, hence they can keep mining Bitcoin while keeping the cost reasonable. The site was created on 11th of Feb 2019.and registered to an anonymous person. There is no information about their corporate details meaning that this site is probably operating on its own accord. On their platform, they only claim that My Cloud BTC is owned and operated by a team of blockchain developers. What they do not realize is that this description is so vague that it hardly communicates who they really are. Also, instead of providing evidence of their data centers right away, the site insists that investors must send a request of the same to the email info @ mycloudbtc.com.
For every new user, My Cloud BTC offers free 100 GH/s of free hash power. This is a very common offer on the internet as nearly all platforms that claim to offer cloud mining of Crypto currencies is offering some sort of free hash power for mining. The site also claims that users can start mining for as little as $15 and at the same time, another section of their site claims that investors need a minimum of $25 in order to get started with any of their investment plans. The minimum withdrawal is 0.0015 BTC, which is indeed a low threshold. On top of this, My Cloud BTC is giving 10% commission for each referral.
The question is whether My Cloud BTC can be trusted to provide legit Crypto currency cloud mining services. Is this service trustworthy enough? Is there real proof of mining? Do we have users who can testify about the kind of services they have been receiving from My Cloud BTC? That is because the site claims to have over 20,000 active users, which is quite a big number. We should be able to find their testimonials and reviews all over the internet.
In our opinion, this site is still new, and the truth is that it cannot outperform or compete with more established Bitcoin cloud mining sites on the internet. You can see those sites in this page.
While the site tries very hard to appear legit, the fact of the matter is that My Cloud BTC fails to persuade most users of the quality of service which they claim to offer on their website. Their FAQ page appears to have been copy pasted from Zero Mining, which makes us think that either they stole this material or My Cloud BTC is owned by the same person who runs Zero Mining. Definitely this looks like a lazy attempt to fill up a web page with the intention of selling right away.
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Also, their alleged user numbers (20,000 Plus active users) does not add up because even on Alexa, the site is ranking 19 million. If they truly had 20,000 active users, the domain mycloudbtc.com would simply be ranking at the top. So this clearly disqualifies the alleged number of users which at this time appears to be nothing other than a marketing trick.
If this site cannot be honest with their prospective customers who will first land on their website before proceeding to order an investment plan, then there is no reason why we cannot believe that the rest of the promotion material is just taking us for a ride. For a moment, just think about this. The site is demanding that users should send an inquiry asking for evidence of their mining farms. Is this something that should be readily available on their website for every visitor to see as soon as they land on the website?
It definitely beats logic to hide this kind of evidence. In fact, if indeed data centers exist here, it would be advantageous to provide that video on their website as more and more people would trust that this is a legit Bitcoin mining service. But this is not the case. And we also suspect that something is fishy. There is no reason why a supposed Bitcoin cloud mining operation should hide their mining facility and only demand people to make an official inquiry for this data to be released.
You should take note of the fact that My Cloud BTC is very secretive when it comes to ownership information. The site does not disclose anything to do with the owner or the company behind their website. This is a red flag as a genuine company should provide their physical address, the names of the director and a phone number if possible.
Therefore, to cut the long story short, My Cloud BTC does not provide details of ownership. This is a red flag. Moreover, they claim to operate in all countries except USA, North Korea, Iran, Canada and United Kingdom. The fact of the matter is that these countries have strict regulatory policies for businesses that claim to provide Bitcoin mining services in the cloud. In the US for example, all companies or websites operating like My Cloud BTC are required to register their offering as a security. This requirement is enforced by the SEC which is very keen on following up these matters. Most scams have since avoided operating in the US because of these strict requirement.
Now, you need to understand that My Cloud BTC is not a very reliable operation, which is why it is anonymous and is not registered with any financial regulatory authority.
You can still mine Bitcoin with established Crypto currency cloud mining services because they have good resources and have been in the game for a long time. As for My Cloud BTC, we cannot advice you to try their services unless the above concerns are sorted out. It is most likely a fraud. But even if it’s not, we still need to see a number of user testimonials and feedback before trusting that their service is genuine.
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