Bitcoin-miner.store Review Fake Bitcoin Mining Platform!

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Bitcoin Cloud Mining

Want to find the best Bitcoin cloud mining contracts? This post has you covered.

Most Bitcoin Cloud Mining Companies are Scams

Like the heading says, most cloud mining contracts are scams. Why?

Because it’s easy for companies to take peoples’ money, and then not pay out. A company can claim to be a cloud mining company without any proof of actually owning any hardware.

So remember: 99% of cloud mining companies are scams.

Quick Tip

Mining is not the fastest way to buy bitcoins.

Which Companies Are Not Scams?

We can’t recommend any cloud mining companies at this time.

Note: If you do find one, you’ll need a wallet to receive payouts to. A secure hardware wallet like the Ledger Nano X is a good option.

Is Cloud Mining Profitable?

It depends what your goals are with cloud mining. If your goal is to obtain bitcoins, then there is really no reason to cloud mine or even mine at all.

You will get more bitcoins for your buck if you just buy bitcoins!

If you think mining is cool and want to try, then cloud mining still is not a good option. Grab a cheap USB miner and run it at home.

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VPNs for Mining

As a Bitcoin miner, you may also want to look into getting a VPN.

You can never have enough security when it comes to bitcoin. Using a VPN adds an extra layer of security.

Bitcoin Cloud Mining Comparison

There is not much to compare, because we personally do not recommend buying any cloud mining contracts so we will not spend the time to compare the two companies above.

But check back in to see if we find any new, legit cloud mining companies.

Bitcoin Cloud Mining Scams History

The reason there are so many cloud mining scams is because it is very easy for anyone in the world to setup a website.

Once the website is setup it can claim that the company has a large mining facility.

The company can act legit by sending initial payments to its customers. But after that it can just keep the already received payments for hash power and then make no further payments.

In just the last few months, two cloud mining scams were uncovered: HashOcean and Bitcoin Cloud Services.

What Payment Methods do Cloud Mining Companies Accept?

Most cloud mining companies accept Bitcoin, PayPal, and credit cards. If a cloud mining company accepts bitcoins then there is a good chance it is a scam.

This is because Bitcoin payments cannot be reversed. Once the scam company receives your bitcoin payment you have no way to get your coins back.

Are there Free Cloud Mining Trials?

No company would give away free cloud mining; this is basically giving away free money.

Any company offering free trials, especially if they require payment information, is most likely a scam.

Quick Tip

Mining or buying bitcoins? You can’t do either without a Bitcoin wallet.

Our guide on the best bitcoin wallets will help you pick one. Read it here!

How does Bitcoin Cloud Mining Work?

Cloud mining means a host company owns Bitcoin mining hardware and runs it at a warehouse.

You pay the company and rent out some of the hardware. Based on the amount of hash power you rent, you will earn a share of payments from the cloud mining company for any revenue generated by the hash power you purchased.

Cloud Mining Viruses

There have been viruses that land on computers and then use the computers’ power to mine bitcoins.

Run a malware detector on your computer if you think you may have come under attack.

Is Mining Software the Same as Cloud Mining?

Mining software is something you download on your computer. It is required when you OWN mining hardware. Software connects your hardware to the internet so that it can make hashes and communicate with the network.

Just buy Bitcoins!

If you just want bitcoins, don’t bother with cloud mining. Just find an exchange in your country and buy some bitcoins.

Learn More

Best Bitcoin Mining Software

Best Bitcoin Mining Hardware

Best Bitcoin Mining Pools

Disclaimer: Buy Bitcoin Worldwide is not offering, promoting, or encouraging the purchase, sale, or trade of any security or commodity. Buy Bitcoin Worldwide is for educational purposes only. Every visitor to Buy Bitcoin Worldwide should consult a professional financial advisor before engaging in such practices. Buy Bitcoin Worldwide, nor any of its owners, employees or agents, are licensed broker-dealers, investment advisors, or hold any relevant distinction or title with respect to investing. Buy Bitcoin Worldwide does not promote, facilitate or engage in futures, options contracts or any other form of derivatives trading.

Buy Bitcoin Worldwide does not offer legal advice. Any such advice should be sought independently of visiting Buy Bitcoin Worldwide. Only a legal professional can offer legal advice and Buy Bitcoin Worldwide offers no such advice with respect to the contents of its website.

Buy Bitcoin Worldwide receives compensation with respect to its referrals for out-bound crypto exchanges and crypto wallet websites.

Wallabit Media LLC and/or its owner/writers own Bitcoin.

A Beginner’s Guide to Bitcoin Cloud Mining

By: Ofir Beigel | Last updated: 11/13/19

Cloud mining is a general term given for sites that charge a monthly fee in exchange for mining cryptocurrency for you. In this post I’ll cover what cloud mining is in detail and expose the truth about its profitability.

Cloud Mining Summary

Cloud mining is a term describing companies that allow you to rent mining hardware they operate and maintain in exchange for a fixed fee and a share of the revenue you’ll make. It basically means that you can mine remotely without the need for buying expensive mining hardware.

Most, if not all, cloud mining companies today are either plain scams or work through an ineffective business model. By ineffective I mean that you will either lose money or earn less than you would have by just buying and holding Bitcoins.

That’s cloud mining in a nutshell. If you want a more detailed review about cloud mining and a specific profitability analysis, keep on reading. Here’s what I’ll cover:

1. How Does Cloud Mining Work?

Since mining Bitcoins at home is so incredibly expensive many people are looking for cheaper solutions that don’t involve buying hardware that eats up electricity and will quickly become outdated.

In light of this, cloud mining seems like the perfect solution: You “rent” hash power from miners that are located in a remote, cool location. The cloud mining company takes care of maintaining the miners and you share the revenues of the operation.

If you google the term “cloud mining” you’ll find endless possibilities to jump on board. Most of these website will show you tons of confusing numbers (especially if you’re a newbie) and promise that cloud mining is “the easiest and most efficient way to earn Bitcoins”.

So everything looks OK, except you can’t always rely on these companies to deliver on their promise.

2. Best Cloud Mining Services

It’s hard to recommend a specific cloud mining company since these companies are more often than not complete scams. However, there are some legit options out there.

Legit cloud mining companies

When I say legit, I don’t mean profitable or reputable, I’m only referring to the fact that they actually own hardware and mine Bitcoins.

Three known examples are Genesis Mining, Bitclub Network and Hashflare. However, I’ve taken a deeper look at all of these companies and in each one there are huge red flags that come up.

Lose Lose Situation

The main model legit cloud mining companies use is a “lose lose” paradigm. If Bitcoin goes up in price you’ll earn less than if you just bought it. If it goes down – you won’t earn anything and you’ll probably lose the money you’ve invested.

I’ve written about it extensively here in the past but here’s how it works in a nutshell:

Aside from the cloud mining contract payment which is usually a fixed sum, companies charge a maintenance fee. The maintenance fee is the cost of running the mining hardware, cooling it, storing it, etc. The maintenance fee is usually calculated in USD per mining power unit (e.g. $0.14/TH).

Since mining revenue is accumulated in Bitcoin and maintenance fees are paid in fiat, if Bitcoin’s price falls the revenue might not be enough to cover the ongoing maintenance. In that case, the company will just terminate your mining contract without any refund.

Here’s an exact quote from Genesis mining:

In the event of a contract becoming unprofitable (i.e. the payout can’t cover the maintenance fee), the resulting daily payout will be zero. After that, the contract will continue to mine for 60 days….If the contract does not return to profitability in this period it will be terminated….

On the other hand, if Bitcoin’s price shoots to the moon, the mining difficulty usually goes up as well, making your miners less profitable. To sum it up, in both cases you’re probably better off just buying and holding Bitcoins. You’ll either lose less or earn more.

If you do a quick search online or even read my own reviews about these companies, you’ll find a large amount of testimonials from people who got their contracts terminated during the long crypto winter that started in 2020.

Scam cloud mining companies

Aside from legit cloud mining companies, we also have complete scams. When Bitcoin started to gain momentum, a lot of ponzi schemes came to play, with the most famous ones being Bitcoin Savings and Trust, Bitconnect and OneCoin.

Another name for Ponzi is “Pyramid Scheme”. It’s a type of investment scheme where you need to invest money in order to participate. The people who came in first get paid by the ones that came after. Eventually the payouts stop for some reason and the people at the bottom of the pyramid are left with nothing.

In my opinion (and in the opinion of respected others as well) most of the cloud mining companies are plain Ponzi schemes. Meaning these companies don’t actually have any mining rigs set out in a remote location and the money that you pay is used for paying out older customers and the company itself.

Most people won’t press charges when a few hundred dollars are stolen from them, so when the company goes bankrupt or just plain vanishes, all that is left are a bunch of angry people. Hey, it happened to me as well…

4. Do Your Own Research

If you’re still not convinced and want to go down the road of cloud mining, make sure to conduct ample research before pulling out your wallet. Here’s what I suggest:

look for References

For almost every fraudulent website on the web there’s someone who already posted about it. Either search BitcoinTalk for information about that company or go to BadBitocin for a list of the well known scams.

If you’ve already been scammed and couldn’t find any reference, I advise posting on one of these sites to help other users out.

Don’t Invest More Than You Can Afford to Lose

Probably the most important tip – if you’re going to get into cloud mining, do it little by little, and NEVER (and I mean NEVER) invest more than you can afford to lose. The way most of these companies work is that they lure you in, little by little, and once you get the big money in they close down without any notice.

The Bitcoin Scam Test

I’ve developed our own methodology for inspecting different Bitcoin related sites. It’s a series of questions that will eventually give you a pretty good idea if the site you’re looking at is a scam or not. You can take the test here.

5. Conclusion – Is Cloud Mining Profitable?

If you want my advice – stay away from cloud mining. There are too many question marks around this area to make it legit.

I think that if you’re serious about investing in Bitcoin then you’re better off buying Bitcoin and holding rather than mining it.

If you’ve had your own experience with cloud mining I’d love to hear about it in the comments section below.

Bitcoin Miner Review: Scam or Legit – Read Before Trading Review

Bitcoin Miner is a mining software that helps users to create money by the process of mining. Users can literally create bitcoins out of thin air using this platform. The best part is that the platform is free for use.

Bitcoin was opened for the world in 2009, and since then it hasn’t been out of discussions. This fantastic thing has made poor, debt-ridden people rich. Moreover, the fact that it is a form of decentralized digital currency makes it all the more safe for use. But what about the people who bought Bitcoin when it was released? Well, to be precise, they are super rich as of now.

One Bitcoin equals 10,600 USD. Isn’t that insane?

But don’t worry, you do not need to be an advanced educated crypto expert to make your place in this industry. All you need to do is use these mining softwares to earn bitcoins without any input of your own. Doesn’t sound legit to you? We don’t blame you! Something that has a lot of value might look a little difficult to earn, but trust is on this. Bitcoin Miner might prove you wrong.

You might have certainly heard about automated cryptocurrency trading software. If you have, then you must be aware of all the rumors that surface around each software. Well, the good news is you won’t have to go through the painstaking efforts of worrying about your profits all the time here. This is because there is zero investment involved. This directly means that you have nothing to lose.

If you are looking for a cheap way to sit back down and earn millions, then this might be it. But for that, you need to know what you are getting yourself into. So let’s take a look at the sections in this Bitcoin Miner Review carefully to understand everything that you need to know about mining and Bitcoin Miner. If you don’t have any idea about what this is all about, then you are advised to pay special attention! So let’s get started.

Table of Contents

Is Bitcoin Miner legitimate?

You will be delighted to know that Bitcoin Miner is undoubtedly the real deal. There are a lot of softwares that come around with a lot of scope for suspicion. But this is not the case with Bitcoin Miner. There are no scams associated with this software, and you should be completely free of worries. There are a lot of useful features that accompany this software which we will talk about in detail also!

If we had to mention the most legitimate feature, then it would undoubtedly be the fact that it is free of charge. This means that unlike trading softwares, here there is no possibility of you getting robbed of the money. The money that is usually stolen there is because of illegitimate brokers. But as Bitcoin Miner demands no initial investment at all, therefore, there’s absolutely no chance of getting losses.

Moreover, you can read reviews of this mining software on prestigious platforms such as Fortune, Forbes, and even Business Insider. We think this is excellent support in itself as no other software must have been discussed so fondly as this one. What’s more, is that you do not need any prior experience to use this software which makes inclusion substantial. Is that awesome?

What is Bitcoin Miner?

As mentioned, Bitcoin Miner is a mining software that doesn’t require human input for earning bitcoins. You also don’t need any investment, so the chances of facing a loss are very negligible. It is a 100% legitimate and as such you should not worry about beginning mining through this software. All you need is a computer, and the electricity that is utilized will enable you to make profits.

So it is quite clear from the introduction itself that you don’t have to be an expert in programming if you have set your heart to this software. When you navigate to its official website, you will be able to see what it claims. A prominent notification says that users can make from $2000 a day and $15000 every week. Don’t you think this is an extraordinary amount to earn by a person who has no extensive knowledge about mining? We think so too!

Moreover, you can also take a look at the testimonials of this platform. You will be delighted to see that it does what it claims. Several people have written about their positive experiences while using this software. Testimonies are significant before trying something unique, and in this case, you won’t be disappointed because all of them have been positive!

How does Bitcoin Miner work?

Bitcoin Miner has a very unique functioning. Unlike automated cryptocurrency trading robots, miners don’t need any algorithms or big data analysis to be taken care of. Its entire operation is different than that of a broker or automated trading software. This is why, unlike all the others, miners don’t ask for an initial capital to be deposited. Thus, here there’s nothing to lose as such!

In order to understand how Bitcoin Miner works, let’s first understand what mining exactly is! Don’t worry this mining is certainly not related to wearing a safety jacket and a helmet and going into caves for coal. But this actually refers to some cryptocurrencies jargon. In the Bitcoin scene, mining refers to the transactions that take place in the Bitcoin digital currency system.

Imagine a precious block. Now imagine multiple blocks connected in chains. Each block is covered with a set of challenging puzzles, and as such, the solutions would yield some sort of a reward. This is precisely the case with blockchain technology. Here, every block is encrypted, and the one who’s able to decode the encryption gets a reward which is in terms of bitcoin. As simple as that!

Another fascinating thing to know is you don’t need qualifications to crack these encryptions. The computational power of your computer will do this. Thus, all you need to do is let your computer be switched on for a considerable amount of time, and that’s it. This is also the reason why you don’t need to invest any money also. How amazing is that?

Now that you know what mining is all about, you can easily infer what Bitcoin Miner is. So Bitcoin Miner is essentially a software that facilitates the mining process. You have to download the software or access it through the internet and nothing else. You won’t have to sit in front of the screen also. This means that you can carry on with your outstanding work and let this legend do its job!

Features:

Legitimacy:

It is a good and 100% truthful software. This very fact has been proven by the positive responses that can be read in the form of testimonials. Moreover, if you go through its official website, then you can also take a look at some of the worlds’ wealthiest people who’ve made money through these sources. In this era of dishonesty, Bitcoin Miner proves itself finely.

No initial investment:

If you have come from the world of automated trading robots, then this will sound like a pleasant surprise for you. Here there is no requirement of depositing any money, and in this way, you won’t have to lose anything. This platform is free of charge, and there are no registration charges or in between commissions involved as well. Isn’t this so cool?

Quick Registration:

When you move over to the official website of this mining platform, you will be able to spot the registration section. It is effortless and straightforward. No elaborate questionnaires are required to be solved. All you need to do is to enter your personal details, and that is that. There are no id proofs or bank statements required for registration at Bitcoin Miner.

Newcomer Friendly:

This has to be the best feature of this mining software. One doesn’t need to be an expert at programming and digital financing. The mining software is entirely newcomer friendly. This is because almost zero input is required from the user. The software itself does everything. The only requirement is that of a computer and electricity for mining to be carried out.

High win rate:

Unlike any other automated cryptocurrency trading robot or broker a mining software gives you the best opportunities at earning. At Bitcoin Miner, you can clearly see the claims of making $2000 in a day and about $15,000 in a week. This amount might sound a little crazy, but you should give this software a try, and you might have the very same amount in your bank account. Who knows?

Simple software:

The interface of the software is super simple. There is no complexity and as such, provides an excellent convenience to people of all sorts.

Who has created Bitcoin Miner?

The founder of this mining software is Dan Manson. He had come up with the idea of Bitcoin Miner with a group of developers and professional traders who were equally interested in the concept of Bitcoin trading. Dan knew the value of Bitcoin since its inception and as such, came up with this incredible software that enables users to get involved in the cryptocurrency mining industry.

You will be surprised to know that unlike other platforms relating to the cryptocurrency seen in the background of a bitcoin miner is pretty clear. Nothing has been hidden from the users, and this is precisely the reason why we support its legitimacy. The entire website refers to a number of reviews as well as people who got rich using this procedure. Along with this, the creator has also shared his views which is rare.

How do I begin using this software?

Now that you finally know everything about bitcoin miner, you must be anxious to begin mining using this software. For your information, you first have to register yourself on the platform in order to successfully do that.

So navigate to the official website of Bitcoin Miner and look for the section that says registration. There, enter your personal details like full name, your country of residence, and your email ID. You might also have to enter your contact details. Once that is done, create a strong password and click submit. Voila! You just created your account on Bitcoin Miner, and now you can use it without any further ado.

Are there any downfalls of mining?

Now that you will be beginning mining, it is essential for you to know the negative side as well. If you don’t mine with this particular software and would like to utilize your own PC, then the story might have different endings. You might be paying more for your electricity bills rather than the amount that you will earn in Bitcoins. This problem can be solved by choosing and purchasing a good quality computer hardware. But that is only for people who want to pursue Mining as a full-time business.

But give this software a try for once. We are sure you would get hooked, and if it is not a positive experience for you, then you can give up anytime! No worries.

Pros / Cons
  • A very convenient method of learning bitcoins.
  • No initial capital is required.
  • No special software has to be downloaded.
  • One can easily access the software on the Internet.
  • You can access this software at your home, and as such, your comfort is not compromised. No scams have been associated with this software.
  • It is beginner-friendly.
  • You are not required to sit in front of the screen all throughout.
  • Your electricity bills may go very high.
  • Some computers might give compatibility issues.

Conclusion:

It is not a doubt that everything comes with pros and cons. But if something has a lot of drawbacks in comparison to the advantages, then wisdom would be in leaving it alone. But in our case, the pros outnumber the cons. This is why we support Bitcoin Miner fully. With the fantastic features that the software comes with, you should not let the opportunity of earning lots of Bitcoins go away in this era of high inflation.

However, be very careful about the hardware that your computer has and keep checking what appears on the screen every now and then to avoid an unpleasant experience.

We hope this article helps you in your quest to find the best bitcoin miner. If you plan to give this software to try, do not forget to share your experience in the comment section below!

FAQs

Is Bitcoin Miner a scam?

No it’s a 100% legitimate.

How much can I make through this software?

At Bitcoin Miner, you can make $2000 in a day and about $15,000 in a week.

Do you need to be an expert to use this?

No, it is beginner friendly.

Do I have to be careful about something?

Yes, keep a check at your electricity bills.

Will my computer be able to mine successfully in any case?

It is possible that if your PC is of an old model then there might be some compatibility issues.

Do I have to download a particular software?

No, you don’t have to. You just have to navigate to the official website and make your account to access the software.

What is the initial investment?

You will be delighted to know that there’s no initial investment required at this mining software.

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