Bitbase.club is a cloud mining solution which exclusively mines Bitcoins only. At first look this platform works identical to that of legitimate alternatives and is very straight forward with their approach. They even offer free mining plans but the main problem with that is, it takes too much time to see any profits worthy of your time.
The paid mining plans offer returns more than 20% per month which is astronomical but sadly that is a shady scam tactic used to convince new participants in the mining sector. Before you lose funds to this misleading platform read our review which will expose all of their ill agendas.
Company and Support
Mining is a form of investment and falls in the category of the regulated activities which requires the firms providing this service to uphold strict compliance to the guidelines of the certain authorities in order to qualify for authorization.
Bitbase.club is an ICO which raises money from retail clients to carry on mining operations at a large scale and compensate the investors with rewards matching to their initial investment. We had a hard time when we were searching for the licenses of this firm but since there is no information about this company on FCA database, it means they are operating outside the boundaries of law.
This firm claims to be a registered entity but let us remind you that getting a registration certificate does not mean the company is completely legitimate and it is a common trick for scam to possess the registration as it makes them seem reputable. Here are the contact details put up by them:-
Address – Featherstone Street, London, EC1Y 8SY, United Kingdom
Email – [email protected]
How does Bitbase.club work ?
All cloud mining solution including this platform are backed up by physical mining farms which is structured strategically to extract the maximum amount of effectiveness out of them thereby ensuring profit margins to be worthy of all the efforts. On a theoretical basis this plan sounds easy but practically in an ever changing market it is very difficult to execute the plan and make steady income from that.
The exact details of the miners or specification of them is not mentioned. They have not shared the details of the data center, so we do not know where they are situated and literally there is no way to verify their statements.
Mining Plans and Returns
There are 4 types of contracts offered by this firm. The investors are encouraged to buy more expensive plans as they feature higher rewards but as a word of caution we want all our readers to know that the earning rates are all fake and in fact they are not involved with mining in the first place.
Cost – 0.01 BTC
Earning rate – 0.00288 BTC Daily
Affiliate Bonus – 30%
Cost – 0.1 BTC
Earning rate – 0.0324 BTC Daily
Affiliate Bonus – 40%
Cost – 0.9 BTC
Earning rate – 0.3024 BTC Daily
Affiliate Bonus – 50%
Cost – 5 BTC
Earning rate – 1.8144 BTC Daily
Affiliate Bonus – 100%
Fake investments like this firm always tamper with the online marketers in such a way that both of them gets an opportunity to make a lot of money. This service has an affiliate program in which anyone can earn an income by referring people to their platform. The commission rates fluctuate between 30% to 100% of the first contract bought by the investors.
In case if you have not figured out the only reason because of which they are able to afford paying 100% commission to the affiliates is that they are just filling their pockets and they do not have to spend funds on anything related to mining. As always the promoters are not needed to invest into the platform in order to qualify for payments.
Thanks to the courtesy of whois.com service which reveals that this domain was registered on 24/06/2017 and it expires on 24/06/2019.
We are astonished about the ranking of this site which according to Alexa.com is 242,945 globally and 31,765 in Iran. The countries where this service is considerably popular are Iran, India, United States, Saudi Arabia and Myanmar.
Is Bitbase.club a scam ?
Simplicity is an element which we appreciate in most of the things but it is intolerable when it comes to online investing niche where proof speaks louder then words. Countless people have lost their savings to these faceless crooks who shamefully tricked them into investing.
20% ROI monthly is simply not achievable through mining and usually these kind of returns are achieved by hedge funds on a yearly basis. Imagine how tough it is if professionals only need a years time, unlike what every scam promises you which is instant gratification.
Another key factor which shows their true nature is the licensing detail which they has portrayed in a way which confuses most of the investors.
Bitbase.club Review Conclusion
Bitbase.club is an illegal corporation led by a group of anonymous cyber criminals who have a knack of getting away without being confronted by law. They have no evidence to prove that they have paid all the clients.
The deadly trick of this firm is that since it is a ponzi scheme they will pay the clients every once in a while which makes the clients believe in the company and invest even more funds. Never make the mistake of trusting them, you will regret your decision sooner or later.
Have you lost money to Bitbase.club? Share your experience with us by commenting below.
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