Lately, there has been an increase in the number of sites that recycle the same Bitcoin mining themes and claim to give free starting bonus for mining. Most of these sites are very similar in terms of their looks and what they offer. One might even think that they are somehow related. In this case, we have Online BTC Miner, which is found on this domain online-btcminer.com. If you have been searching for legit Bitcoin mining platforms on the internet, chances are that you have come across a similar site before.
This might be a concern because many Bitcoin mining themed websites are using the same template and they are only telling us that they will mine Bitcoin for us in the cloud without providing sufficient evidence that they own mining facilities. When we look at Online BTC Miner, we realize that the site does not have any aluring abilities as it contains generic text and nothing more to persuade miners to sign up for their plans.
They also claim to offer free 30 GH/S of hash power for mining but this does not guarantee the legitimacy of the site and neither does it tell us that this is a reliable website to try mining BTC with.
Is Online BTC Miner a scam or legit site? That’s what we are getting into in the next few paragraphs.
Whereas we’d like to believe that Online BTC Miner is truly mining Bitcoin as they claim on their site, the fact of the matter is that there are many red flags on this website which can’t be ignored.
Lack of company information on their site is a concern. In addition to this, there are no details pertaining to the owners of the site in addition to their contact address. We don’t know where the operations of this site are based at and whether or not they actually own mining hardware. The site does not provide a way to contact them either. When you add these things together, you realize that the site is fitting the description of a Crypto mining scam.
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They are currently offering 30 GH/s of free mining hash power but with a real website for mining BTC, it is hardly not the case. You cannot have any bonuses in a legit mining operation, and you can confirm this. Most of the major reputable sites for mining out there don’t have these bonuses.
What we are thinking is that by utilizing the promise of free hash power, the site hopes to attract many investors down the road. They also claim that mining contracts are forever, but this statement is quite suspicious given that no mining contract can go on forever. BTC mining has a limit, which is why most genuine sites for mining BTC will have 1 year contracts as opposed to those that run forever. Think about it. When a contract stops becoming profitable, the owner will simply stop running it. So when a site claims that it is providing lifetime contracts, this must be too good to be true.
The other red flag that we are concerned with is that Online BTC Miner is claiming that there is no maintenance fees and that we will get 100% of our profits. Again, in the real world, there is nothing like 100% profits in Crypto currency mining. Crypto currency mining is expensive, and you should never imagine that Online BTC Miner can mine for free and hand you 100% of the profits. It is not realistic due to the cost of hardware maintenance and electricity as well.
So this is possibly a scam because there is no way Online BTC Miner can do it without any maintenance fees.
There are 4 investment plans which are offered on the Online BTC Miner platform. The free plan offers 30 GH/s of free hash power while the premium plans provide 100GH/S, 15000GH/S and 100000GH/S respectively. All of the contracts are allegedly running for a lifetime, which we have already disputed in the previous paragraphs. In addition to this, the plans come with huge unrealistic bonuses of up to 10000 GH/S bonus.
The product offering does not make a lot of sense due to the fact that they are offering huge and unrealistic bonuses, and secondly, they are telling us that no maintenance fees will apply. This is very suspicious, and we believe that Online BTC Miner will not fulfill these promises even if they wanted to.
The other concern that we have is that Online BTC miner does not make any efforts to prove that they own mining hardware. There are no pictures or videos of their mining hardware, plus they are not telling us whether or not they own a mining facility.
Bitcoin does not come from the air. It must be mined using equipment. Unfortunately, the site Online BTC Miner does not discuss this matter at all. So there is a strong possibility that it is not even mining Bitcoin. But if that is not the case, we invite the anonymous operators to provide proof that mining of Crypto currencies is going on behind the curtains.
Otherwise, their claims are too good to be true, and we can only categorize Online BTC Miner with other similar scams such as Ocean Mine. Also, due to the high risk nature of dealing with this site, we don’t advice anyone to try the site because the end result is not likely to be pleasing.
Online BTC Miner is just another popular mining themed website with nothing special to offer except the regular stuff that Crypto currency mining scams promise. There is nothing legit in their offers. In fact, a Crypto currency cloud mining site that offers no support is an outright scam. If it is anonymously hosted, that makes matters even worse. If you’d like to mine Bitcoin and other altcoins, you can do so using a reputable site. We have researched and found the following sites.
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