WinMax Miner (WinMaxMiner.com) is a bitcoin cloud mining solution which is said to provide the cryptocurrency enthusiasts an easy way to earn Bitcoins using their laptops and high end mobile phones. This platform is one of the minimalist in terms of design with no flashy things or annoying pop ups.
They created noticeable hype on many popular forums and we were quite intrigued by that. During our investigation we realized quickly that what we are dealing with is a tricky scam and we had to do something about it, in terms of protecting innocent investors from falling for their scheme.
Read our full review to find out why it is essential for you to recognize the misleading factors and the reasons because of which you should avoid them.
Company and Contact Details
WinMax Miner falls in the category of ICO wherein this firm charges money from the clients to purchase latest equipment required for mining and enables them to induce effectiveness in their operations. The investors depending upon the terms of the contract agreed by them are supposed to get certain amount of returns.
All the companies which operate in the above stated manner are required by law to hold special licenses. As usual we conducted a thorough check about this firm in both FCA and FTC platform but those efforts ended in vain, this corporation is highly likely to be operating outside the law.
On their website, they have not housed any details regarding their registration details so as far as their legitimacy is considering, it is very disturbing to say the least. The only contact details this service provides is an email address:-
Email – [email protected]
What type of investment service dare to operate without having a customer support staff in place? They are so unprofessional and least bothered, they do not even use custom email address to cater to the needs of the clients.
How does WinMax Miner work?
This company states that it believes in the – “Economy of Things”.They claim to manage supply and demand sides of the computing power each individual posses. Apart from this naggy explanation they do not provide detailed explanation about anything else.
We are not briefed about where their mining farms and data centers are located. The scripts they use and the algorithms they employ are not revealed, even the hash rate they average is not mentioned. Nowadays the profitability in mining is reduced to such low amount that it may not be worth your time.
Unless you have big enough capital and space to place the mining farms strategically ensuring low maintenance and electricity costs. Cryptocurrencies have a lot of media popularity and has a volatile nature, though mining by text book definition is an easy way of earning completely automated profits. Considering the recent developments with Bitcoin it indeed carries a degree of risk.
What kind of profits can you make with WinMax Miner?
There is no standard answer for this question. The amount of net profit depends upon the specification of the hardware you are employing. For example mining with computer with decent graphic cards yields more returns than mining with phone.
Despite what these crooks tell you, make sure that you do not run your computer for a long time. Apart from the specification market value also determines the returns as axiomatically the Bitcoins value increase, the people involved in mining will also increase thereby reducing profit margin of early players.
This platform even offers paid plan which is around $200 but it is better to avoid buying any contract because if you take a look at the number of complaints against them on the forums, it definitely is uninspiring.
According to whois.com this domain was registered on 15/11/2017 and it expires on 15/11/2018. The registrant details are not shown for some reason apparently.
From the information we gathered using alexa.com this website ranks 195,401 in India and has a global rank of 419,051, this site gets an estimate traffic of around 400,000 visitors monthly. The countries they have gained considerable traction are India, Pakistan and Bangladesh.
Comments From Real Users about this service on Bitcointalk.org
I am trying to withdraw from 1 month. but not successful yet.when i mail you….u said that i need make new account and download latest version of winmax miner…..ok..i have done all ..that you said…..but now i am trying to withdraw from my new account…and its failed again…so what message will get people for your website? i want to add a screen shot here …but don’t know ..how to insert…and if u taking a fee .024 btc for mining fee from my account…so..i have 0.08 btc in my winmax miner…and send rest amount in my account…otherwise don’t said ..that you are paying for free account
my detail for winmaxminer
i have mined with this address on your website blockchain bitcoin address 17aa54u6ZWKLXGZJ15CNaqxnxjJCSkMvSs
Is WinMax Miner a Scam ?
A simple one.
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The most common trait of scams which are anonymity and lack of transparency is both present in this platform. This platform is rigged in such a way that it shows present value after certain time period even if the internet is disconnected which proves that they are not at all involved with mining anything.
They basically encourage users by saying that its free and once they have your attention, you will be forced to upgrade your account so that they can make money. Looking at the overwhelming amount of evidence, this platform is not something you want to tangle with your money.
WinMax Miner Review Conclusion
This firm has definitely put in decent amount of work in gaining traction through most of the social media streams but as we discussed above in the comment section about how this actually plays out in the real world, it is safe to say that you should ignore any kind of interaction with them.
The number of scams operating under the name of cryptocurrencies in general are rising and as investors it is your duty to gain basic level education about the markets as it will help you spot the fake platforms easily and save you a lot of money.