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StartMiner Review – HYIP Ponzi Scheme Exposed!

Read our unbiased review of StartMiner to learn the truth about this despicable Bitcoin scam! Claiming to be a free and simple Bitcoin mining pool, StartMiner.com is a deceptive Ponzi scheme targeted toward novice Bitcoin investors. Extract and learn the facts behind this blatant Bitcoin scam and why this shady investment opportunity is not worth your time or money!

Research will reveal to us that there are two types of reviews regarding the so-called legitimacy of StartMiner. First, we have the soulless marketers who are willing to say just about anything as long as you are more likely to sign up. These misleading reviews appear in the form of YouTube videos and notorious blogging sites that each rely on questionable marketing practices to generate a quick buck from your suffering.

While other reviews embody the form of vague forum posts or inconclusive articles that neither recommend nor condone the use of StartMiner. In our most humble opinion, these “inconclusive” reviews are just as shady and premeditated as those reviews that lie to your face. However, for those of you who actually want to learn the facts behind StartMiner and whether this is an authentic investment opportunity or just another Bitcoin scam we encourage you to keep reading.

What is StartMiner?

StartMiner is a relatively straightforward and free Bitcoin mining pool. All one as to do to gain access to this simplistic Bitcoin mining pool would be to enter your Bitcoin address then click on “Start Mining.” Or at least that is what the creators behind this scam would like you to think! Relying on the ever-effective marketing model claiming that you can generate substantial profits without “having to do any of the hard stuff” is where most people fall victim to this ruthless Ponzi scheme.

startminer.com - StartMiner
StartMiner.com

Claiming to have been in existence for 353 days since the time of writing this review, StartMiner has accrued over 800 bitcoins with relative ease. Of course, no transparent mining results are shared anywhere on the website which means that viewers are left to only accept the word of the website in question. In addition, when viewing the website and clicking on “See Payment Proofs” nothing happens, which leads us to believe that this is just a misleading widget that serves the sole purpose of making startminer.com appear more trustworthy and genuine.

How does the StartMiner program work?

If truth be told, StartMiner does not conduct their business practice as a legitimate Bitcoin mining pool should operate. Instead, this site operates with the business model similar to that of a Ponzi scheme. Figuring out their tactics is simple and nothing we previously haven’t crossed paths with. The fault in their business model would be how they offer “free” Bitcoin mining. Unfortunately, no legitimate mining service could afford to offer a free service due to the fact that it simply is not sustainable.

Furthermore, the security measures engraved into the interface of startminer.com are weak at best. Users who mine with their site aren’t even required to enter a password to access their account, meaning that if their Bitcoin address was leaked (which is quite possible with such weak security measures) then you may as well kiss your Bitcoin wallet good-bye.

StartMiner Membership Plans

Apart from the free service offered there are 4 membership plans and are as followed:

V1.1

Earning Rate:

0.00000055 BTC/min

0.0007 per day

Affiliate Bonus: 30%

Cost: 0.005 BTC

V1.2

Earning Rate:

0.000005 BTC/min

0.01 per day

Affiliate Bonus: 40%

Cost: 0.08 BTC

V1.3

Earning Rate:

0.000035 BTC/min

0.05 per day

Affiliate Bonus: 50%

Cost: 0.3 BTC

V1.4

Earning Rate:

0.000018 BTC/min

0.25 per day

Affiliate Bonus: 100% (with instant withdrawals)

Cost: 1 BTC

StartMiner Ponzi Scheme Model

StartMiner fulfills the shining definition of a Ponzi scheme when premium members are gullible enough to sign up with one of their memberships. When potential investors successfully complete the sign up process, a majority of those deposited bitcoins are used to pay pre-existing members who have requested a withdrawal request while the owners behind the site keep a fat percentage of the deposit to themselves.

This allows this “leading Bitcoin mining pool” to appear as a legitimate and self-sufficient mining service when in reality the service is self-imploding upon itself. However, community feedback suggests that StartMiner has already started to neglect withdrawal requests meaning that the creators of this HYIP scam are just trying to suck as many new depositors dry of their bitcoins before they bite the bullet and move on to their next shady venture.

Suspicious StartMiner Characteristic

Apart from the fact that startminer.com has resorted to non-sensical excuses as to why they cannot execute withdrawal requests, there are a number of questionable characteristics exhibited on the site. Among the first misleading characteristic that caught our eye would be how the site has been in existence for a period of “354 days.” However, a quick domain report will reveal that the site was only created 178 days ago, so essentially the site is claiming to have been in existence for almost twice as long has it actually has been.

StartMiner.com WHOIS
who.is

Now ask yourself, why would a legitimate Bitcoin mining site lie to you about something so minuscule as their start date? Perhaps the answer to that would be because StartMiner is NOT a legitimate Bitcoin investment to begin with! Let’s not overlook how open-minded they are about flaunting their affiliate program all over their site and membership plans as well. It is clear that the only motive behind this website would be to mislead as many investors as they can out of their deposits before they are reported to a governing entity and closed down for good.

StartMiner Company Specs

StartMiner is operated by a company known as Bitminer Cloud Eu LTD and is filed under the company number 09951039. The registered office address is 20-22 Wenlock Road, London, England, N1 7GU while the CEO behind this company is Giacomo Bugini. Currently, this private limited company is exhibiting a company status of Active proposal to strike off. Which means that Giacomo Bugini has failed to file an annual return which typically serves as a ‘heads up’ for anyone looking to conduct business with this site.

Typically when a company reflects this status the company cannot maintain even the basic payment duties needed which raises the question of how reliable of a company is this truly?

StartMiner.com Popularity

During the time of writing this review, startminer.com has a Global Rank of 10,908 with a rank of 2,591 in Brazil, according to Alexa.com. This indicates that Start Miner is a rather popular website. Most of the visitors seem to come from Turkey, Brazil, Indonesia, Vietnam, Venezuela, India, Iran and Spain.

Checking SimilarWeb reveals also that over 20% of the traffic is generated from untrustworthy Bitcoin sites such as adbtc.top. Other significant sources of traffic originate from misleading ads found on YouTube and Facebook.

StartMiner Review Conclusion

Given the facts presented to you throughout this honest review we cannot condone any prospective Bitcoin investors to join this service. Even if you were planning on avoiding the membership plans found of the site and only sided with the “free” mining service, just keep in mind you are putting your personal information on an insecure website with terribly weak security measures. Do not expect to receive any withdrawals since the company is not in good standing and has been so for a period of over 3 months.

Exercise caution prior to signing up with any Bitcoin related website. We have seen an epidemic of HYIP scams and Ponzi schemes that have flooded the Bitcoin investment industry with false hopes and empty promises. Don’t invest your bitcoins with a site that promises something that sounds-too-good-to-be-true or free of charge. Long-standing and legitimate Bitcoin investment sites do not offer their service for free because it is an unsustainable business model.

Review Verdict: StartMiner is a SCAM!

Blacklisted Site: StartMiner.com

Similar Scams: BTCProMiner.life & BitMiner.io

Have you been scammed by StartMiner or one of its affiliated websites? Plead your case by commenting below!

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11 Comments

  1. PS

    Oh StartMiner is a scam alright. I’m glad I’m not the only one who figured it out. Making out out of thin air is that inner greed in all of us hoping it would work. Yeah… Nope. Wish I could post the screenshot of my account pending for months on my withdrawals.

  2. Hang Yu

    Your article saved me and my money,man,thanks.I did’t deliver my bitcoin into sites like this,and I won’t,because you told me the truth.

  3. Rose Alitubeera

    This website indeed a scam . they wouldn’t even payout the btc i earned on a free version. Why call it “free” but can not pay the btc earned freely, instead they prefer keeping it for themselves that is if exists. the Irony of it all!
    It all started when i was on another PPC website to view sites as i earn when i came across start miner, i was intrigued since it only required my wallet address. I provided and i have been “presumably” been mining btc for last four days, daily earning was 0.0006btc, just like the author said no mention of hash power rates for mining the btc. After my 4 days i decided to request for withdraw today when i had reached the minimum withdrawal thresold which is o.o01btc, on logging in with my wallet address, to my shock found when all the btc is gone and it had reset itself to zero. hahahahaha. Thank God i hadnt invested the fake versions.
    After my experience it is safe for me to say that the only legit btc paying site i know is Crypto Tab Browser.
    Yes it pays small and accumulating the btc takes time but it totally worth it as you will earning legit coins. No investing needed, all you have to do is use the browser the same way you use your firefox or explorer and the btc will accumulate by itself.
    It would be fair of me if o explained all this to you and not lead you in the right direction of the site itself
    (get.cryptobrowser.site/2109309.)

  4. KIRUNDA KASSIM

    PEOPLE ANY ONE HELP ME, I INVESTED 5 DOLLARS IN THIS WEBSITE MIner-server.com & IT WAS PAYING, BUT WHEN I INVESTED 420 DOLLARS MY ACCOUNT WAS BLOCKED FROM WITHDRAWING THAT I SHOULD PAY 0.1 BTC WHICH IS WORTH 830 DOLLARS TO OPEN MY ACCOUNT ‘REVIEW IT FOR ME’ REMEMBER A DASH AFTER THE WORD MINER AM MEANING {MINER-SERVER.COM} IF U DON’T PUT A DASH THE SURFING WILL BRING U MANY SITES BUT I MEAN THE SITE WITH A DASH BETWEEN MINER & SERVER. THE 420 DOLLARS I INVESTED WAS ALOAN FROM THE BANK I HOPED I WILL BE WITHDRAWING INSTANTLY TO PAY THE LOAN BUT I DON’T HAVE THE 820 DOLLRS TO PAY THE SERVER SETUP HENCE I HAD TO QUIT . THEREFORE ANY ONE FEEL FREE & DONATE ME WITH ALITTLE U HAVE EVEN IF TWO DOLLARS OR MORE I WILL APRECIATE I PLEDGED MY POOR MOTHER’S SMALL PLOT WITH HER HOUSE AT STAKE NICE TIME FRIENDS.HERE IS MY BITCOIN ADRESS 12fFMwPXaFjBz81rsC28pbQtu3g1KWQ3jJ

    • Rose Alitubeera

      Oh My God, Thank you Kassim for warning me on that miner-server.com website. i was planning on investing with them this August 2018 but now i know better.

  5. Marksman

    I quote our boy Tim here:

    “Users who mine with their site aren’t even required to enter a password to access their account, meaning that if their Bitcoin address was leaked (which is quite possible with such weak security measures) then you may as well kiss your Bitcoin wallet good-bye.”

    Buddy, here you are talking about a misleading website targeting novice investors and one of the first things you say is a lie. Obviously you are not aware of how public bitcoin addresses work. Here is mine: 3NcJSRz8jpZEQjNCE11zR4NMAmfghCX4yr go take my bitcoin if you please. (More like please send some my way!) I’m not defending or promoting good ole Startmining, just submitted my withdrawal request and if they pay out as they say they will (in 5 days), I will consider upgrading. 😛

    Tim, before you go making loud statements, make sure you have all your facts together. Otherwise you just look like a guy who has no idea what he is talking about. 😉

  6. SleazyT

    The money never seems to leave the website. You can get referral bonuses into your account but the withdrawals are pending indefinitely.

  7. Carlos Muniz

    I paid version 1.1 and got one withdrawal, that really paid me. But if I want to withdrawal more BTC, I should upgrade to another version and increase something they call IPV. Mine is slow now and I cannot withdrawal. One is pending.

  8. Tess Larona

    I’m still for my withdrawal (free account) I hope StartMiner will…still waiting! Thay said it will take 5+ days (I withdraw the Min. amount on Nov 25)

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