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RainHash is a scam that you must avoid. In this review, we will give you the facts to make you see why this company is running fraudulent operations under the guise of Bitcoin mining. It is never about what you see on the homepage of the website. Rather it’s about something else that you will only find out after you make a deposit in Bitcoin.
The company is currently located and registered in Panama as ”RAINHASH CLOUD MINING TECHNOLOGIES, LTD”. The most disturbing thing is that RainHash is offering an unheard of daily return on investment of between 12 to 25%.
The big question is, can we make a 12% daily return on investment? No is the answer. Can we make 20% daily return on investment? Let us not even go there because this is not a possibility. It is not realistic at all.
If you want to know how unrealistic these promises are, factor in those figures into your monthly return calculation and you will see that this company is actually promising 360% – 750% per month. You can also put it as 4320% – 9000% per year.
Any legitimate business can never earn such a big amount of profit in a short time. Don’t be fooled. Crypto-currency mining is not an exception.
Maybe investors are being cheated into believing that the more they invest in an expensive plan, the more they will make more money quickly. But realize that this is like a get-rich-quick scheme where quick wealth is promised based on what you have invested. We all know that such opportunities never come to fruition.
Therefore, you shouldn’t be surprised that RainHash is one of them.
When you own your hardware, you can mine Bitcoin and make some money. Currently, Bitcoin is at $7,111 meaning that there is a lot of demand in the marketplace.
Now, you have to remember that profits will be hard to come by if you have to pay in order to rent the facility that will be mining your Bitcoin. Unless you’re working with a legitimate company, chances are that you will not make any money in the process.
The greatest hurdle that you will face is mining cost. There is the cost of hardware installation, maintenance, bandwidth, electricity, etc. You need a lot of computing power to be able to mine efficiently.
But this is also why companies purporting to mine on your behalf do exist. Most of these companies are not honest with their operations. In fact, most of them operate like pyramid schemes where money is channeled from bottom to top. It is never the other way round.
There are 4 plans. All of them purport that you will make daily profits forever — for the rest of your life. The first plan offers 12%. The second one promises 15%. The third and fourth plans promise 20% and 25% respectively.
At this point, we think that this company is targeting the ignorant investor. It is more like an insult to our intelligence rather than a business opportunity. It is too good to be true. It is obvious that when you send your money to such people, the promised daily profits will never arrive in your bank account. You can take this to the bank.
RainHash is a hilarious scam. Their aim is to make you believe that their company is legitimate. But the fact that they are registered in Panama does not mean that they are conducting any legitimate operations on the web.
In fact, this is the first time we are reviewing a scam of this nature which is registered in Panama rather than the UK. In the recent past, we have reviewed a lot of these fake money making opportunities on the web. Most of them are from the UK.
Now, this one is registered in Panama. But they never gave their registration number for purposes of confirming if it is true that indeed RainHash is a registered company.
But even if they had provided this reg number, we would still conclude that it is a scam, why? Because that registration number does not mean that a company’s operations are legitimate. That reg number is for taxation purposes and does not say anything about the legitimacy of their business operations.
One thing you must take note of is that RainHash does not even have a proper introduction of who they are. It is impossible to find out who owns this business. The website is only concentrating on Bitcoin mining but is offering zero clue on the people who are behind it.
It therefore means that RainHash is an anonymous company. When they are anonymous, they can commit crime and go Scott free because there is no way to find out who is responsible for managing this company.
And secondly, these people are only accepting Bitcoin payments. They are not accepting other methods of payments.
You see, Bitcoin payments are not reversible. Once transaction has been completed, that’s it. You can never recover your money if it turns out to be a deadly scam.
According to RainHash, they have been running operations for 2 business days now. But within such a short span of time, they have already received 159.1459602446 in Bitcoin deposits and paid out 17.8370486348 in Bitcoin.
Guess what, this company is lying that they have already created over 700 member accounts in 2 days. And then we are given a link labeled ”proof of payment”. When we click that link, all we can see are fake details that cannot be verified as real proof of payment. What is going on here?
The truth is that no mining operations are being carried out here. These stats are false. They were published on the site for purposes of misleading opportunity seekers. Do you honestly think that a brand new website that is only 2 days old can acquire such number of users in that time frame? Ask yourself and you will begin to see why RainHash is such a suspicious business.
The ultimate thing that they are going to do is run away with your money. Once they have collected enough, they will simply close down RainHash and run away. There will be no more ”Bitcoin mining operations” from this company.
When a scam looks so obvious because of the many red flags that accompany it, you should never waste your time debating with your conscience as to whether or not to sign up.
It does not matter how lucrative this opportunity seems. It doesn’t matter whether they are registered in Panama or not. This is just a shit-show of credibility. It is meant to fool naive investors so that they can think that their funds are in safe hands. That is not always the case with most registered companies purporting to mine Crypto-currency on the internet.
Our best advice for you is that you should stay away. But if you want to mine, sign up with these companies.
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