According to the Xashmining.com website, it is among the leading and best Bitcoin mining service provider. The Investment Company claims to optimize its mining activity and generate 3% daily returns to their investors.
The platform has not expounded its mining activity. We do not know the currency which the Company is mining, where its farms are located, or the hardware they are using.
When a mining investment company doesn’t mention the model they are operating with, it raises more suspicion. Most Ponzi schemes are not even involved with mining. Their only objective is to create a sweet narrative and scam investors using it.
Anonymity is one of the key features involved in a pyramid scheme. Xashmining.com founders remain unknown to the public. If they choose to close down their website today, nobody will come looking for them.
You should never trust ‘ghost founders’ with your money. After achieving their target, they will abandon the promise of making you rich. Their true colors will be exposed.
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Xashmining.com is not regulated by any recognized licensing authority. We have composed a detailed review to expose the fraudulent activities of this platform Xashmining.com review. But, you can check our list of veried cryptocurrency platform and mining services that you can invest in.
The Company claims to be run by a group of experts. The owners of this platform state that; they picked the best experienced IT, Crypto, and engineering experts. However, they do not have a permit to handle any investors’ money.
The Xashmining.com investment company prides itself in having a capable, strong team. The workers are highly skilled, in the blockchain niche. Their sole goal is to build the most robust system and to make it available for small and big investors.
The daily return that this Company has promised its investors a return that range from 1% to 3%. The Ponzi scheme profit plan can make you a billionaire within a short period. Do a realities check and understand that this is just a financial fantasy.
The Company claims to have insurance protection. The Company has no database or servers to store users’ information. It is only the investors who have the historical of their data. They also claim to have a secure storage system that cannot be compromised.
There is no evidence to this. The Company also claim to utilize SSL encryption on all its pages to protect their accounts and financial transactions. The platform, despite having many red flags, its speed is also slow.
To carry out the investment services, a company ought to have licensed documents permitting them to carry out their activities. The investment company is not regulated by FTC or FCA. It should be approached with caution.
The authority is doing a good job of educating the public on online investment and element they can look for to avoid being scammed. To ensure the safety of your funds, you should only invest with licensed companies. It is hard for licensed brokers or exchanges to be compromised.
Some licensed platforms have been hacked in the past, but they reimburse their investors’ funds with time. Now imagine what would happen when an investment company that you don’t even know the founder would do if they were compromised.
How does the platform Work?
The theory behind this site is pretty simple to understand. All that is required for investors is to have the necessary equipment fees and platform maintenance charges. The Xashmining.com handles the technical process involved in mining.
The initial capital to start a mining company is very huge. The PnL statement will be affected by the volatility of cryptocurrency or a simple mistake. When you know this necessary information, you can’t be scammed by these pyramid schemes.
It might seem to work in both parties’ favor, but this investment company has twisted the narrative to suite-only their needs.
The Company only indicated that their mining farm is located in an area that doesn’t charge tax. They also haven’t mentioned the mining gadgets they utilize. The returns it claims to offers their investors are too vast and ridiculous.
The mining process accumulates a lot of electric energy and maintenance costs. Xashmining.com Company has not correctly included the accumulated charges because if they did, investors wouldn’t be making this much.
There is much traffic coming from this investment company. The website is converting many clients. The Company will steal so much since their goals are intact. The Xashmining.com has a commission of 7% on referrals.
To stay in operation, the Company offers a high commission to promoters. The more the people that join the Company, the more the Xashmining.com will exploit.
Manipulation is created when an affiliate wants to bring more people, and the platform takes the new investors’ money to pay the initial users.
You will get the pioneer investors praising the website, and when it’s even accused of being a scam, they will come to its defense. Initial investors adore the Xashmining.com Company.
The profit brought in is distributed among pioneer users and the fraudster company. The Company takes a higher percentage. However, the investors will be the ones incurring all the risk since the Company got nothing to lose.
Pyramid mining scheme Firm will exit the market after scamming enough clients’. The customer support of this website can be reached via email or WhatsApp. You cannot address your query using a simple phone call.
Xashmining.com is determined to stay anonymous to the public. Since the Company is the only platform with your data, they can block you immediately they receive your money.
The investment company has four mining contracts. The platform calculation of return is complicated, and it is hard for investors to understand. This investment Firm has ridiculous returns. All the pacts last for a duration of 12 months.
The platform has a starter’s contract where the least amount of Hash that investors buy is 100 GH/s. Advanced contact is the next one. Investors can buy a minimum Hash of 10,000 GH/s.
The Company has a premium pact the least amount of Hash to be bought by investors is worth 50,000. The final contract is Optima. The minimum Hash to be purchased is worth 5,000 GH/s.
The Xashmining.com investment company asks its users to increase their equipment capacity to earn more returns daily. It is funny since the Company is not involved in any mining activities to suggest this.
We have utilized the information available on whoise.com and Alexas.com. The domain name of this Company is Xashmining.com. It was registered in December 2019, and it is expected to expire after one year.
The investment company targeted victims are from the following countries; Pakistan, Egypt, and Morocco. The platform is ranked at 13,161 in Egypt.
The platform only accepts cryptocurrency, and its founders stay anonymous. The Xashmining.com pyramid scheme is well reputable, and its platform is well designed. After sending money on the platform, you won’t be able to recover it. The site cannot be trusted and should be avoided.
The loopholes associated with this platform are many. The platform is technically held in high-risk nations. The trust score rating of this platform is very low.
The Company claims to be growing fast despite there being a stiff competition. All the claims of this Company are baseless and should be declined
The Ponzi scheme promises users an opportunity to mine BTC without dealing with the hardware. Avoid being scammed and use our top cloud mining recommendation.
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