Hashpowerfactory.io is a Bitcoin mining platform which claims to make every investor rich with their service thereby eradicate poverty as much as possible. There is no information about the creators of this service or the people associated with them.
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This platform claims to generate a guaranteed returns of 90% on a monthly basis. Any person who has spent a decent amount of time in the cryptocurrency sector can easily tell that, this firm is a full blown fraud.
Before these shady scammers tricks you into buying one of the expensive mining contracts, read our review to find out why they do not deserve your trust or attention.
Company and Contact Details
Hashpowerfactory.io represents an ICO wherein the money required for purchasing mining rigs and equipment are raised by the general public and according to the contract term, the investors are promised some amount of profits after few days.
When we did a little research about this firm, we couldn’t find any certificates confirming licenses they should possess. Since there is no information about them on FCA which is the regulatory authority of the UK region, this company is definitely operating illegally.
One thing every fake platform tries to do is to appear as legit as possible and this one is not an exception. There are details of registration certificate featured on their website but remember that does not necessarily mean that they are authorized in any way. Here are the contact details put up by these crooks
Address – 58 Union Terrace, London, United Kingdom EI5 6NY.
E-mail – [email protected]
How does Hashpowerfactory.io work ?
Hashpowerfactory.io calls itself the number one profitable cloud mining solution for Bitcoin but are investigating proofs otherwise. This firm is said to own mining farms and use ASIC miners with SHA – 256 algorithm which according to them yields more profits.
They basically claim to run everything involved with mining in the background and the users just have to deposit the funds. There are many problems with their explanation, for example we do not know the specific location of their farms or their total mining capacity. Regardless of which type of equipment they employ it is impossible to get 90% returns monthly through mining activities.
In reality reaching break even point in mining is only difficult and unless you have a strategic plan with high amount of initial investment they just might not be worth your time. On top of all these inconclusive information remember you still have to pay for maintenance fee which is around 0.0005 BTC.
The amount of money the investors earns depends upon the contract wherein for more returns the users have to choose expensive contracts. All the contracts mature after 2 years or 730 days, so you cannot cash out before the expiry of the agreement.
Here are the details of the mining contracts:-
Interest – 21% Monthly
Estimated Profit – 0.001806 BTC Monthly
Cost – 0.0086 BTC
Interest – 33% Monthly
Estimated Profit – 0.1419 BTC Monthly
Cost – 0.430 BTC
Interest – 90% Monthly
Estimated Profit – 0.153 BTC Monthly
Cost – 1.70 BTC
This platform features an affiliate program wherein cash bonus are provided for any individual who refers people to this service.Anyone who has access to web traffic can sign up with them, the commission percentage is not specified and we believe it is negotiable depending upon the ability of providing them with enough traffic.
As seen in most fake platforms, the affiliates promoting this scheme are not required to have an active deposit in order to get their payments.
There are a few testimonials plastered on the homepage of this website where in the alleged early clients have expressed their opinion about this company.
If you look at all the comments they are all too supportive towards this company and there isn’t a single negative review. Moreover there is no way to verify the identity of the early investors which makes us believe that they are all from bogus profiles.
According to the data provided by whois.com this domain was registered on 04/08/2018 and it expires after one year. The details of the registrant is unavailable.
From the information gathered from alexa.com we know that this website ranks 23,086 in Russia and has a global rank of 246,416. The regions where they have gained huge popularity are Russia, Iran, Brazil, Venezuela and Ukraine.
Deposit and Withdrawal
The basic contract start at 0.0086 BTC, the minimum payout threshold is unknown. The e-currencies accepted by this platform are Bitcoin, Bitcoin cash, Litecoin, Ethereum and Dash.
Withdrawals from this service carries a fees of 0.0005 BTC and the required for them to process withdrawals is not mentioned anywhere on their website.
Is Hashpowerfactory.io Scam or Legit ?
This platform is a typical mining scam.
Every legitimate investment firm gives much importance to the user experience aspect because customer satisfaction is what they or trying to achieve. Unlike this platform which will assist you only till you send your money to them but once they have the contract over the funds it is game over for you.
Ask yourself what kind of company operates without providing the investors with basic telephone assistance ? Looks like these fraudsters did not have enough budget to pull it off.
Hashpowerfactory.io Review Conclusion
There are many genuine mining services out there but fake scheme like this one are like incurable cancer in the cryptocurrency sector. This firm might pay for some period but that is how ponzi scheme works, they earn the investors trust initially by processing withdrawals for a certain period of time but ultimately these fraudsters will make money and it will be at your expense.