Xenos Mining (xenosmining.com) is a new cloud mining website promising huge returns to investors interested in acquiring and investing in Bitcoin. The website was established in March 2017 and has gone on to become one of the most popular cloud mining websites (in terms of page views and mentions) in the world (especially in Russia, India, Ukraine, Pakistan and Thailand.) As such, it was only a matter of time before our hawk-eyed team got to know of its existence and dealings and an even shorter time to do in depth analysis and determine if the website is a scam or not. We hope that this review answers all your questions, both the asked and unasked and if not, feel free to get in touch with us through our various contacts.
How does Xenos Mining Work?
Xenos Mining works like any other cloud mining service, renting out hashing facilities and mining equipment (including knowledge) to interested parties for a fee. The site also runs an investment program where investors can earn interest on their Bitcoins without breaking a sweat.
On a side note, Xenos Mining deals exclusively with Bitcoin so you might want to keep walking if you are into other currencies. Also, the site is the self-proclaimed “World’s Leading Bitcoin Cloud Mining website.”
Where do you file suits for false advertising again?
The site offers 9 investment packages for different types of investors. The cheapest package goes for $50 while the highest goes for $20,000. That somebody can spend $20k on such a site makes me feel sad and angry for humanity. And broke too!
The returns, as you would expect, correspond to the package chosen with the 5 lower packages ($50, $100, $200, $500 and $1500) earning you 0.25% POM per day for 825 days. Package 6-9 which are the premium packages will give you a slightly higher daily POM at 0.30% for 725 days. Minimum investment requirements for these are $2,500, $5,000, $10,000 and $20,000 respectively.
Oh, and in case you are wondering what the hell POM stands for, it simply means Profit On Mining. Yes, it’s not an official word (yet) but was probably coined by some corny creative at Xenosmining.com hoping to attract more people.
Is Xenos Mining viable?
To answer that question, we are going to look at several key factors, each carrying its own weight and contributing to the overall score. Basically, this is our very own scam test. And yes, you can use it too, we won’t sue.
We would like to think that it’s general knowledge that any website or person promising exceptionally high yields and little to no risks is a Ponzi scam. On that count alone, Xenos Mining is a scam as it promises exceptionally high returns in the long run, more than 100% of the principal amount.
To put it into perspective, let’s take one of the higher options, with alleged 0.30% returns. If you invest $10,000 or more, as required for Package 8, you will be liable to receive daily payments of 0.30% of this amount. This translates to $30 per day for the prescribed 725 days. If you do your calculations right, the total amount of money you will receive is $21,750, a more than 100% returns rate.
What more, the site doesn’t mention any risks associated with this investment, a very big red flag.
What exactly does the website do?
We read through the entire website more than 5 times and not once did we see any clear reference(s) to what kind of business the site partakes in to generate the profits they claim. We have several questions we would like answered on this, though we doubt we will ever receive any sensible answers.
- Does Xenosmining.com pay you for using their cloud mining services? If yes, how exactly does this model work?
- Is the site involved in other money making ventures? Because, there’s no way in hell you can promise someone 0.25% of their investment per day without engaging in revenue generating activities.
- How profitable is the cloud mining technologies that the site uses? Last time we checked, you can’t earn daily profits from cloud mining as an individual investor.
Until we find the answers to those questions, we will hold that Xenos Mining is a scam. Which is the truth anyway.
Who owns the company behind Xenosmining.com?
Like every other site, Xenos Mining have an About Us page which is basically supposed to provide more information about the site and its owners. Disappointingly, there isn’t much information on the About Us page on this website, except for a monotonous outline of the “cheap” services they provide. There are zero references to the people behind the site and no physical address is provided. There are also no names and/or pictures of staff members or other partners, which is not a good look for a site that needs to be taken seriously.
The people behind Xenosmining.com used WHOIS privacy service to hide their identities and personal information. The task bar on the website, which is supposed to provide the owners details and address, is empty. It is also not clear which jurisdiction the site is registered under and whether or not is has any licenses.
If you have never seen a human sized red flag before, there’s one for you.
Less than 6 months old
It is always a good idea to deal with sites which have been online for more than 6 months. Such sites tend to be legit since the scams rarely last more than a few months.
As mentioned earlier, Xenosmining.com first went online around March this year, which makes it only 3 months old, less than the recommended 6 months for financial websites. As such, it doesn’t have a great enough track record to warrant anyone’s trust and money.
There are no meaningful reviews on Xenos Mining on Google, meaning that the site is not as popular as you might think or the people who invest in program weren’t impressed enough to leave reviews. What more, all the links leading to the site were from backstreet websites (websites with no sensible content) and were all referral links.
Whichever way you choose to look at it, the bitter truth is that Xenos Mining is a scam. It will be foolhardy to invest your money in a site that contains zero information on its owners and which has no clear business model. Heck, you might be shocked to receive calls from Interpol accusing you of funding drug trafficking activities a few years from now.
To cut the long story short; keep off from Xenos Mining and tell your friends to do the same too.
According to Alexa.com, by the way, the site is not very popular but it does get some traffic, especially from India.
Verdit: Xenos Mining is a SCAM!
Blacklisted site: xenosmining.com
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