Recognize a cloud mining scam
Recognize a cloud mining scam
There are a few things that are common for almost all cloud mining scams or HYIP (High yield investment program) or Ponzi Schemes. We will try to explain how you can recognize a scam and avoid to invest in them. We, ourselves, invested in many different scams and Ponzi schemes in 2013-2015. All these scams are listed on our front page. However, now we will present what was common in all these cases.
- Guarantee profit
- Very high profit compare to other cloud mining
- Free cloud mining (especially at first purchase)
- Fast support but not professional
- No evidence of equipment
- Bad looking website
- Not listed at any review sites
There is no real cloud mining company that guarantees a profit. There is actually not any company that can guarantee a profit from any investment. Don´t invest in any company that guarantees a profit, especially not a company that guarantees a daily profit of 0.1-1%.
Very high profit
Always invest a small amount and check that everything is working as expected. Control that you receive payouts before you invest anymore. Calculate your daily profit and compare to other cloud mining companies. If the payouts are double or triple compare to any other company it´s probably a Ponzi Scheme or a scam.
Free cloud mining
All companies that have offered any type of free cloud mining has turned out to be non-profitable or Ponzi Schemes. Be careful with companies that offer free cloud mining. We have discount codes which are a bit different.
All cloud mining scams we have invested in has actually had a very fast support. However, they are not very professional. Ask some technical questions about their cloud mining equipment and see what they answer. Also, check what kind of email they use, some even use a Gmail account. Most legit companies have a professional look at their emails with a company address and a title on the person who sends the email.
No evidence of equipment
No cloud mining scam has ever proved they have the real equipment. Check if there are any videos or photos from their cloud mining farm. Of course, this is very easy to make by Photoshop (As Bitcoin cloud mining services did). However, such work takes time and it´s not for sure a scam will offer such a time.Bad looking homepage
Bad looking website
A cloud mining scam doesn´t spend much money on a homepage. All they want to do is to launch a decent website where they can accept payments. Check if they have to spend a lot of money to make an expensive and trustful website.
Check other review sites and forums to see what other people think of the suspect cloud mining company before you invest.
Don´t trust a single indicator to 100%. For example, there is legit cloud mining site that doesn´t have videos or pictures from their farms. There might be legit cloud mining companies that offer free cloud mining in the future. Also, some review sites actually list scams because they give good affiliate commission. Remember, start small and grow your investments by time.