Persistencemining.com is a cloud mining service that was created in July 2015 with the mission of ”helping” people access the blockchain era. Persistencemining rewards each user with $10 when they sign up but there are some conditions to cashing out your earnings on their platform. On top of this, they have an ad program where users click and earn $0.1 per click. Investors can earn as much as they want but the condition for cashing out earning is that users must invite others to sign up and invest. Otherwise, withdrawal requests won’t be processed.
We have seen some user feedback on their social media page and one of the complaints was that even if users have 20 referrals, Persistencemining does not process withdrawal requests. Persistencemining also claims that they have built data centers in places like Dubai, Canada, China and the US. The platform claims to mine a variety of coins which include Bitcoin, Ethereum, Dash and Litecoin.
Persistence mining is also claiming that they are using the best ASIC and GPU miners for best efficiency and highest returns in the industry. However, actual details of these data centers have not been disclosed. There are no videos to show us the inside their data center facilities. Basically, there is no evidence at all to support the claim that Persistence mining owns data centers and that they are really mining the said coins.
In the user statistics section of the website, they claim that Persistence mining has over 5,000 users at the moment. This is not likely because when we search for reviews on the internet concerning this supposed Crypto currency cloud mining platform, we find nothing at all. Surely, if this site had some 5,000 users generating Bitcoins from it, these users would be telling us about their experience elsewhere even if it’s in the popular Crypto currency forums. But this isn’t the case. This makes us doubt the figures.
As if that’s not enough, Persistence mining cites Jeril Huggan as their CEO, Ben Kruger as their business manager, Sakib Ramona (operations control) and Hadock Peri (director of software). None of these people have a digital footprint and even their pictures look like stock photos. They are also citing the address Fortune Plaza, No. 278 Suixi Road, Hefei Anhui, 230041 as their physical location. What is not clear is whether Persistence mining is operating on its own accord or under the umbrella of a supervising company. Whatever the case, we still feel that the level of transparency that this site is maintaining is quite poor, and yet investors need to know these things before they can ever trust a site like this with their hard earned money.
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This is the reason as to why these major Crypto currency cloud mining sites have earned respect and trust among Crypto mining enthusiasts. They maintain some level of transparency that some of these sites that claim to be credible really don’t have. We encourage you to use them for your Crypto currency mining endeavors.
The background of this mining entity is not clearly defined. They only tell us about their mission and how they can help us make more Crypto currencies but there is very little convincing with facts. It is one thing to claim that you have multiple data centers, that you are using the latest state of the art equipment for mining. But its quite another to actually produce proof that you own these things.
Secondly, we are doubting their team members, starting from the CEO to the people who claim to work here. If these people are real, they should have provided their LinkedIn profile because this is how we can scrutinize the background of a real professional to determine if they are credible. But in this case, the site seems to be using stock photos and fake names. We cannot buy this kind of thing.
There are 4 types of investment plans here. Each investment plan is hosted on a separate server. But these investment plans are very costly as the basic one starts at $245 which earns you 1 THS according to the site. There are no income projections for each of the investment plans, and we also have a feeling that these investment plans are so generic. They are only telling us that these plans have an expiry duration of 23 months. The various fees are also listed. But these charges are standard across all plans. There is a 5% management fee in addition to $0.1765/THS/Day Power Fee for all plans. What they are not saying is how much we can earn with any of these plans. An income calculator would have sufficed but this has not been provided either.
We were able to trace back their Facebook page just to see what others are saying about Persistence mining since it is a very interesting project so to say. Luckily, their Facebook page has some user feedback which can be relied upon. While some user comments seem to offer some hope regarding the reliability of Persistence mining, a fair number of users are doubting whether this is real.
There are also a few complaints here and there which the customer support seem to have addressed in a vague manner instead of getting into the specifics. By the way, some users claimed that the site was not processing payouts for customers who were participating in their ad click program. This seems to be a dubious program.
In short, Persistence mining does not maintain some sort of evidence to show that they actually process payouts. On their site, there is no payment ledger for this purpose. Other important pages like privacy, risk disclaimer and so forth are also not available.
Our trust level for this site is quite low as we do not feel that Persistence mining can live up to expectations. The site has been around for a while but we feel it can scam. Therefore, stick to our recommended list of reliable Crypto currency cloud mining platforms.
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