BitMiner is one viral and nasty HYIP scam that has spread its lies and deception throughout the cryptocurrency realm. Hosted at bitminer.io, this free Bitcoin mining pool is essentially the sister site of StartMiner, which we have previously exposed as a Ponzi scheme. Save yourself from the inevitable agony and frustration that you would have suffered by learning all the concealed facts behind this Bitcoin scam throughout our real BitMiner review.
What is BitMiner?
BitMiner is allegedly a Bitcoin mining pool that offers their service for free. Having mined a total of over 3,109 Bitcoins since they first launched 422 days ago is quite an astonishing feat of Bitcoin mining to claim. Asserting itself as the “ultimate mining pool,” BitMiner offers four different premium memberships in addition to their free version.
Due to the simplistic nature and design, BitMiner has shown remarkable longevity for a cryptocurrency scam due to its ability to fly under the radar. As we briefly touched upon above, BitMiner is essentially a clone of StartMiner which we concluded, with evidence, to be a Ponzi scheme. So how has BitMiner managed to survive as long as it has? Perhaps that can be contributed to the affiliate program that the creator behind this scam emphasizes throughout the webpage. Just like with StartMiner, more emphasis on drawing traffic and deposits are conducted than actual Bitcoin mining itself.
Operated by the same company as StartMiner, this site is ran by the company known as Bitminer Cloud Eu LTD. The registered office address of this company is 20-22 Wenlock Road, London, England, N1 7GU while the company number is 09951039. Serving as the CEO of this company is Giacomo Bugini and as we mentioned in our StartMiner review the current company status reflected is ‘Active proposal to strike off.’ Which means that Mr. Bugini has been unable to pay his company dues which greatly diminishes the likelihood of receiving payment from this company.
So in a nutshell, if you have deposited any bitcoins with BitMiner just understand that the likelihood of you receiving your funds back are just about as likely as you winning the Powerball. Community feedback, mostly in the form of forum posts, will indirectly confirm this truth for us as many investors who have put their faith with this service have reported being unable to receive any withdrawals from the site.
Is BitMiner Trustworthy?
Not a chance! Refusing to execute withdrawal requests while the company behind this site is in financial trouble is a serious red flag in our books. Not to mention that this site bears remarkable similarities with startminer.com. In addition, we cannot overlook the fact that this site fits the ideal model seen with most Ponzi schemes. Research shows that early on when bitminer.io was initially launched the site served as a legitimate mining pool operation but within a few months time a number of complaints, mostly lack of withdrawals received, were reported.
As many of you have learned throughout our recent scam reviews, this tactless business model reinforces the ideal that the site under investigation is, in fact, a Ponzi scheme. Withdrawal requests were initially dispersed when the site was first created due to copious amounts of new depositors but after the steady stream of new depositors slowed down so did the acceptance of withdrawal requests. This truth alone reinforces the concept that BitMiner is nothing more than another Ponzi scheme.
The membership plans offered by BitMiner are almost identical to those offered from StartMiner. Bear in mind that this HYIP scam is successful due to the traffic received from misleading affiliates and that the memberships plans are tailored toward ruthless marketers rather than potential Bitcoin investors. The membership plans are as followed:
Profit Per Minute: 40 Satoshi
Profit Per Day: 0.0006 Bitcoin
Profit Per Minute: 80 Satoshi
Profit Per Day: 0.0012 BTC
Affiliate Bonus: 30%
Cost: 0.01 BTC
Profit Per Minute: 1,000 Satoshi
Profit Per Day: 0.015 BTC
Affiliate Bonus: 40%
Cost: 0.1 BTC
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Profit Per Minute: 10,000 Satoshi
Profit Per Day: 0.15 BTC
Affiliate Bonus: 50%
Cost: 0.15 BTC
Profit Per Minute: 70,000 Satoshi
Profit Per Day: 1 BTC
Affiliate Bonus: 100%
Cost: 5 BTC
BitMiner Warning Signs
There are numerous warning signs that are generated from BitMiner. Obvious signs that cannot be overlooked would be how the company is unable to pay their financial burdens and how the site was created by the same scammer behind StartMiner. For more startling warning signs, simply type “BitMiner reviews” into any relevant search engine and you’ll come across a wide variety of forum posts and articles claiming how investors have been unable to receive their withdrawal.
However, it would be ideal to exercise caution when conducting your own research since many of the outlets currently endorsing this Bitcoin scam offer misleading and deceptive reviews. As you will undoubtedly learn, most forum and review sites in the Bitcoin niche offer nothing more than ambiguous reviews that result in neither the exposure or apparent endorsement of this scam. Due to this truth we advice readers who want to learn the true nature behind any Bitcoin related investment opportunity to feel free to consult our site to learn the facts.
According to Alexa.com, bitminer.io has a current global rank of 12,144 with a rank of 3,507 in Brazil, which indicates this is a very popular site. Back in April 2017, they were shortly among the 5k top websites, but since then have been slowly declining in popularity. Most of the traffic received come from visitors residing within Turkey, Brazil, Vietnam, United States, Germany, India and Italy.
Approximately 12.5% of visitor traffic is received from affiliated websites such as startminer.com and btcprominer.life, both of which are operated by the same company Bitminer Cloud Eu LTD. Most of the other traffic emanates from misleading reviews that include affiliate links found on Google or shady YouTube channels.
BitMiner Review Conclusion
Throughout this unbiased review we have provided the evidence needed to conclude that BitMiner, along with all of its affiliated websites, cannot be trusted. Focusing more upon the affiliate program than actual Bitcoin mining, the only reason why this Ponzi scheme is still operational would be because of low-life affiliates who are earning a significant sum by misleading investors out of their bitcoins. Therefore, we will not advice any investor to partake with this fraudulent Bitcoin mining pool unless of course you want to suffer some significant losses.
Verdict: BitMiner is a SCAM!
Blacklisted site: bitminer.io
Have you fallen victim to BitMiner or one of its affiliated websites? Please share your experience by leaving a comment below!