Minebtc.io is an online investment platform which provides guaranteed profits via mining activities. The crypto enthusiasts can select the type of equipment, script and select which coins they want to mine. Each contract lasts for four months.
This service has been active for around 9 months as of July 2018 and has managed to slip away from most of the review sites and forums.
The main reason why they did not fall into everyone’s radar is because their returns are not unbelievable but a little exaggerated and the simplicity of their website lures in more people, thousands of investors have fallen for their shady tactics.
If you are considering to buy any mining plans from then, read our full review to find out why we strongly encourage you to stay away from this fake mining platform.
Company and Support
Any company which provides investment opportunity to the general public are required to be licensed and authorized depending upon their geographical location.
Minebtc.io Represents an ICO which basically raise money from investors for mining and allied activities and in return depending upon their initial investment, they are promised a fixed predetermined earnings. Since this company has not put up any registration details apart from the fact that they are UK based, it is a very concerning matter from investors perspective.
We have confirmed through FCA this firm has never been licensed thereby operating illegally.
Here are the contact details of this firm:
Address – 89 Marlborough Road, London, United Kingdom, E18 1AA
Email – [email protected]
The support team can be reached through the contact form provided on their website.
How does Minebtc.io Work?
This firm is basically a cloud mining service which offers a way for the investors to earn bitcoins or any alt coins they like. They supposedly having mining rigs set up in a strategical way with all the modern hardware with the latest scripts but unfortunately the location of their mining farms are not revealed.
The mining pool they are involved in is also not stated anywhere on their website. To summarize they are asking you to trust them with your money without showing any sort of credible proof.
What kind of profits does Minebtc.io Offer?
Crypto mining was one of the most lucrative operation which yielded significant amount of returns a couple of years ago. Since large capital was pumped in to Bitcoin and other alt coins, the number of investors increased and as a result the due to the fierce competition the returns on mining drastically dropped.
The type of returns is dependent upon the contract you enter but note that all the plans are valid for four months unless otherwise specified. They state that they use SHA-256 Scrypt algorithm which according to they has allowed them to provide maximum returns.
An exact dollar figure returns cannot be quoted on mining as they cryptocurrency prices move a lot and various other factors also have to be considered.
In order to grow their revenue in the most efficient way possible this firm offers an affiliate program. Any individuals who refer people to this platform get 5% of the investment amount paid by the clients which is why many of the blogs out there are giving them a five star rating.
This platform have tier 3 plans. If the affiliates want to increase their earnings they can opt in for regional representative wherein they get 10% commissions. The only condition for becoming a regional representative is that they need to invest more than 1 Bitcoin on this platform.
Deposit and Withdrawal
The payment methods accepted by this platform are Bitcoin, Litecoin and Ethereum. We are not aware of the transaction fees on deposits or withdrawals. They state that the withdrawals are usually processed instantly but sometimes can take up to 24 business hours.
Before you take a leap of faith on this platform remember bitcoin transactions are difficult to track and impossible to reverse the transactions which is why criminals love them.
There has been a mixed impression about this service on many forums like Trustpilot.com. Here what some of the users have to say about them:
Complete and utter scam, this site should be closed down. send fee to upgrade your plan, it disappears, send fee to withdraw… you guessed it gone. no upgrade, no withdrawals just pure theft from the owner.
These site is targeting people new to mining who will find its a steep learning curve!
According to alexa.com this domain was registered on 16/10/2017 and expires exactly after one year.
This website has a global rank of 109,215 and it ranks 15,949 in Brazil.
According to the data provided on alexa.com the majority of the traffic to this website are coming from Brazil, India, Iran, Indonesia and United States.
Is Minebtc.io a Scam?
First of all they offer returns which are too good to be true. The actual creators behind this platform have maintained complete anonymity. There is heaps of complaints about this service and it has many similar characteristics to a ponzi type investment.
On top of all that they lay out too many terms and conditions which means either way the odds of you getting a payment from them is very slim.
Minebtc.io Review Conclusion
Considering the fact that they are not registered, amount of complaints and the level of mysteriousness surrounding this platform, there isn’t a single factor which makes them reliable. While it is still possible to earn a decent returns on mining it is no way near to the kind of profits this fraudulent platform has to offer.