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MiningBtc might look like a professional cloud investment platform, it’s far from it. Investors are losing money right, left, and center. A few people are profiting from the situation. The owner and those marketing the platform as a viable investment platform.
A crypto investment platform with less than a year in the game, MiningBtc is a platform to avoid. MiningBtc has one of the highest contract periods in the industry. The platform also offers modest ROIs with its investment packages. It begs the question, why aren’t investors flocking and buying the packages? The answer is easy; Mining BTC is already enjoying negative publicity due to its harsh withdrawal policy. Learn the whole truth out in our clear and detailed MININGBTC Review.
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A Closer look at what MiningBtc has to offer
MiningBtc doubles up as a cloud mining platform and a crypto trading platform. Both of these features give it the allure of a profitable and successful investment platform. Despite crossing all the right boxes in terms of looks, appearance can be deceiving.
And this is exactly what the designer behind the website was after. The first glance will make naïve investors fall in love with the platform.
There’s a call to action, and members will get started by owning a mining rig. Of course, the platform claims to offer cloud mining services at a certain rate. Members who sign up get the promise of enjoying guaranteed profit margins.
And that’s the start of the painful process of finding out the truth behind Mining BTC. We have all the facts pointing to a huge problem surrounding the platform. Read on to find out the damning facts regarding miningbtc.io.
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Opening an account with the platform is easy and fast. You need to fill in your address, contact, and full names. That isn’t a problem, as you will have to deposit funds to kick start the investment campaign.
We have a huge issue with their account verification process, especially when you want to withdraw. The platform requires members to send valuable documents starting with bank statements and credit card details.
If you send the above two documents, a copy of your ID is the last document they need. We know for a fact they can send emails with links or SMS codes for verification. Why ask for all these documents?
Michael Bryson, a cyber-security expert, warns the platform is harvesting banking information from clients. He claims to have seen numerous cases of such websites stealing banking information. The end game is to create a new persona or charge credit accounts with online purchases.
Accounts, investments, and packages MiningBtc
Mining Btc offers four investment options to investors. All of the plans come with guaranteed ROI and a specific time contract. Before jumping in, we have to warn you of the consequences. No one has come out with proof of making money with the platform.
The basic plan is the most basic plan and comes with a contract period of 180 days. It comes with a guaranteed ROI of 2.5 percent. Most investors are likely going for this plan due to the short time limit and promised daily returns.
You get 10 spins with this plan and a bonus of 0.0004BTC.
With the starter plan, the feature includes a daily guaranteed ROI of 3 percent. It comes with 20 spins and the contract period is 180 days.
3.3 percent is the daily guaranteed returns with the standard plan. It comes with 50 spins and the contract period is 180 days.
There’s a daily guaranteed profit margin of 4 percent for every amount. It comes with 75 spins and is the ultimate package the platform offers.
Our verdict on these accounts
There’s no need to invest in these accounts as they don’t hold any value. The projected ROI is not possible to maintain, least of all, achieve. We have our doubts about the results as the platform barely allows withdrawals.
Features of Mining Btc
Referral commission with MiningBTC comes in five levels of 7%, 45, 2%, 1.5%, and 1%. The call to action is to share your referral link via your social media handles. All this sounds great, but there’s a catch.
As the affiliate member, victims will solely blame you for directing them to a scam. Authorities will likely see you as an accomplice to online fraud. It’s best to stay away from their affiliate program as the platform fails to release commissions.
Contact and support
On the contact page, all you have is a one-way communication channel. Users are to leave a message and wait for the platform to get in touch. There’s no phone call or live chat tool for making contact.
It means the platform wants to control the communication process. You can’t reach them, but they can easily reach you. It makes it impossible to make your complaints known to them.
Domain background (miningbtc.io review)
As we publish this post, the platform is barely 63 days old. It shares the same server with other cloud mining scam websites. Most of the websites have low trust scores and have no ranking on most search engines.
The exact date the website went live was on March 28, 2021. When it comes to their hosting history, they have made 8 changes over the past 3 years. It means the platform is a short-term website under professional crypto scam artists.
How the Mining Btc scam works
It all starts with the over the moon profit margins that include guaranteed daily returns. Investors will rush in to get a piece of the daily returns. The catch is that you have to sign a 180-day contract.
After the contract winds up, withdrawing becomes the biggest issue. The account will see a rise in the balance creating false hope of a lucrative investment. Once you click withdrawal, that’s when the platform shows its true colors.
No investor has had the chance to withdraw funds. With the untenable profit margins, we believe the platform will soon shut down.
Mining Btc License and Registration status
MiningBtc is not a legit investment option as it enjoys no oversight. Regulators don’t know it exists or how the platform plans to secure funds. An investment platform ought to comply with investment regulations.
It means having to provide insurance cover for deposits made. We feel sorry for those who deposit in such schemes. There’s no security cover to protect your funds in the event of bankruptcy or insolvency.
Safety of funds with Mining BTC
With the platform lacking regulation, the security of funds is out of the question. Once you deposit funds, your investment is at the hands of anonymous persons. Please avoid investing funds in anonymous cloud mining websites.
We encourage investors to do due diligence before signing up with any investment platform. It protects them in the long run from any damages.
Scam or Legit MiningBtc
Finding any silver lining borne no fruit as withdrawal is still a hurdle with Mining BTC.
There’s no other option but to add Miningbtc.io to our scam blacklist.
Finding the right cloud mining company for your crypto investment is the only solution. Here’s a list of the best crypto mining companies the industry has to offer.
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