Menu Review: Is My Coin Cloud Scam? Review: Is My Coin Cloud Scam?

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MyCoinCloud is allegedly a mining company that is located in Bulgaria. The platform assures their client that they will not charge them high electricity bills since the area has a low cost when it comes to the same matter.

However, the shady mining company does not have mining contracts that investors can choose from. Additionally, there is no mining equipment or activities that seem to be taking place on the website. The platform is definitely another Ponzi scheme in the market.

The company was established in November 2015, and since then, they have no data that can prove the firm is ideal for mining. The website was privately registered; hence the information regarding the owner is hidden from the public.

You need to know the people behind an investment venture before trusting them with your funds. The only information we could get is that the entity is being run by a group of digital currency specialists and enthusiasts. It is the narrative that all Ponzi schemes are bragging about. In reality, the owners of the Ponzi scheme only have the basic knowledge that is not even enough to run a company.

MyCoinCloud proclaims that they want to make digital currency mining accessible and profitable to all forms of investors. The pyramid scheme claim that mining activities take a very short duration to kick start.

To begin your earning journey first, you need to sign up on their website, pick the hashrate, and the digital currency that you wish to mine. Then deposit fund and wait to receive your earnings. It seems easy, but without performing research before investing will lead to making losses.

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MyCoinCloud Review

The company has three contracts that they are offering to investors. The platform is allegedly mining Bitcoin, Ethereum, and ZCash. All their mining plans do not experience downtime and come along with 24/7 customer support services.

It has 0.10$ kW/h with a low services fee, which the company has not mentioned. Mining activities are not always profitable; just like every other investment, they have a time that losses have to be made. What most companies do is to minimize the risks.

What MyCoinCloud is promising is ridiculous, and platforms like this one do not survive long in the industry. The Ponzi scheme claims it has two data centers. The firm does not specify the real area that they are located. However, the data centers allegedly have a mining capacity of 2600 KW/h. Review, My Coin Cloud Platform

Unfortunately, this is only a marketing strategy they are using to attract as many innocent investors as they can. The shady platform also brags of using the latest mining equipment in the industry. Additionally, the company also mentions that they have a very able team that is ensuring it functions properly.

It would have been better if they introduced them to the public. Giving credit to the people who are responsible for their supposed success is the least the company can do. However, this being a pyramid scheme and is probably being run by a sole person, and they have no time to prove their legitimacy.

The platform only boasts it has power conditioners and latest generation art ventilation that helps in cooling. Their equipment is optimal and operates highly. The Ponzi scheme has an A-game marketing strategy, which is probably the reason most investors have fallen for their lame words.

MyCoinCloud assures those that will invest with them will have the best experience. The company claim it is the only firm in the industry that is offering a lifetime contract. Unfortunately, the platform has no mining taking place.

Additionally, legit digital currency mining companies in the industry do not make such claims.  Ensure you only invest with the best platforms in the market, which have skills and knowledge of how things are run.

How Does MyCoinCloud Works?

The company state that they have unique features that facilitate their investment venture. MyCoinCloud claims it has its own hardware. Hence, the consumption, delivery time frame, and price are protected by smart contracts.

The platform brags of being the best in the industry by all aspects, yet they are not featured in the best mining companies cluster. It additionally claims their MH/s or rather mining speed is higher by three times than any other entity.

They have an SSL certificate; hence they are a bit secure. Nonetheless, it is not the hackers that you should be afraid of; it is the professional con artist behind this entity. MyCoinCloud is using green mining; hence they have low charges that contribute to high profits.

Their fees are as low as $0.10 up to $0.04. The company is mining several digital assets as per their sales page, and it is available in various languages. To gain the trust of investors, the company needs to outline its benefits and how they run their business.

There is much murkiness going around in this firm. They lack transparency and credibility. We are wondering what type of clients have ventured with MyCoinCloud. Without any feedback or a reputation that outshine the firm, we believe there is something not right happening on their website.

Withdrawal and Deposit

The company accepts funds via cryptocurrency like; Bitcoin, Ethereum, and Ripple. The deposit will reflect immediately you fund your account. The Ponzi scheme assures investors they will receive a weekly payout.

Depositing funds via digital currency have both advantages and disadvantages. However, in this case, you cannot reverse or get your money back upon investing.

It assures customers no delays will be experienced. However, we did not come across anyone that claims to have received any earning from MyCoinCloud. We cannot recommend their services to investors.

Regulation and Customer Support

One of the first things that you should check before investing in any company is if an investment company is regulated. It is important that you venture with an entity that has attained the requirement of the government.

Licensed companies offer a sense of safety because they set up a certain percentage aside that can be used to compensate customers in case of bankruptcy. Additionally, by providing their banking information, you will have the confidence that you are not depositing funds directly into the fraudster’s wallet.

Despite the platform being in the market for years, they have not published any of their achievement or statistics that can prove they are performing any investment activities. In their website, they have not showcased their licensing or registration form.

We would urge you to only pursue your investment with reputable, legit mining corporate. When it comes to their customer support services. The platform is not offering any of the services. We did not find a mobile number that you can conveniently use.

Investment ventures should invest heavily on their support team since customer satisfaction comes first. You need to be very cautious because the only reason a firm will observe such high-security measures is when they are doing illegal business.

Final Verdict

MyCoinCloud is a Ponzi scheme that claims to be using green energy to mine. The founder info is hidden from the public, and they are operating anonymously. It claims that they are offering a lifetime mining opportunity to investors, which is not possible.

Invest with trustworthy cryptocurrency mining companies that have the best interest at heart for their clients. Verified platforms will never scam you or sell your information to a third party.

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