“Try Bitcoin mining for free today”
says the Bigmine.io site. This is not a new hype among bitcoin mining sites but is this feasible.
Since the days when bitcoin was invented, there has never been a time the mining of bitcoin was absolutely free. Considering that when the coin was worthless, people at least needed to run a full node and pay for some electricity, why would anyone let you mine bitcoin freely now that the coin is valued $4000?
Anyway in reality, faucets give you bitcoin dust for taking some actions, but we are always wary of sites that tell people they could earn bitcoin freely.
We always have emphasized that bitcoin is money and no one gives out money freely.
What is Bigmine.io?
The platform announced that it is a bitcoin mining company that is managed by professionals. It stated giving everyone the opportunity to own their own bitcoins without the usual hassles of setting up rigs and hardware.
Writing about its requirements, the owners wrote,
“just an email address. Once you have familiarized yourself with us and wish to scale your mining operation, you can take advantage of our paid mining plans starting at just 0.0025 BTC (9 USD) for 500 GHS (0.5 THS).”
The site claims that the managers have the experience to ensure that users have nothing to worry about. It further stated that those that buy its mining plans are protected by its guarantee promising that it has a refund policy.
Now this is a rare phenomenon for any cloudmining company.
Is There A Data Center?
The site claims that the operators started mining in 2013 before scaling. It also said that they now have clients they extract bitcoins and altcoins for. However, they did not provide visual evidence that proves they own a mining farm anywhere.
The picture of miners shown on the site doesn’t seem like a real farm. The impression you’d get from it is that the owners of this site lifted some random miners to help answer the concerns of their clients.
Free $36 for Every Investor?
“One week free trial gives you 2 THS (worth $36) for free. No obligations, no auto-renewal, just try it.”
In essence the site is claiming that it has the capacity to give free $36 in mined coins to any user. This is very doubtful even under the best conditions.
There are usually two types of sites on the internet – the genuine and the fraudulent. Among scam sites, there are many that are manned by experts that tend to cover their tracks very well. However, you have to analyze deeply to understand that their intention is to cause you losses.
Bigmine is one of those scam mining sites that use freebies to entice new users. When it’s time to make withdrawals, the person is asked to buy a plan before they are paid.
Hidden Domain Records
A Whois search for the domain Bigmine.io shows that the owners of the site have cleverly hidden all the information about its origin.
Why would they do that if they have nothing to hide?
Scammers always have something to hide and we decided to have a deeper look at the service that Bigmine is rendering to the public.
A site that is asking investors for deposit should be willing to divulge information about its owners and their location as proof that they are a legitimate business.
Who Are Behind Bigmine?
There are four team members listed on the site. These are Josef Stransky, the support department manage, Alleardo Ferri, Angelika Fiedel and Ralph Maan.
However, none of these people has any social profiles that prove that they are real people. More so, the images posted against their names were made so small that reverse engineering search is practically impossible.
Since the operators of the site were listing the team, they should have proven that these are real people by providing social profiles such as linkedIn.
No Physical Address and Phone Number
The site claimed that the company has its Russian office at Lenin avenue 52, Murmansk, Murmansk oblast, Russia but a search could not link the company with that address.
It also could not give its phone number citing spam calls for the reason. This is laughable considering that this is a company expecting the public to send investment funds to it.
Do they realistically expect people to invest with a company they can’t talk with?
Posting images with email addresses means that if an investor has issues, they would have no option than wait for emails from Bigmine.
Will You Make Profit With Bigmine?
The website claims that you could recoup your investment in just 4 months. This is not feasible based on the mining difficulty of most popular cryptocurrencies.
A user of the platform named Boris reported on Beermoney where he wrote:
“Just doing some quick calculations. Theoretically with 2 terrahashes and no fees you can expect to make ~8300 satoshis in a day. That’s ~5.75 satoshis per minute. I have been getting an average of 7 satoshis per minute with this website so they apparently have no fees AND pay more than they make? Seems a bit dodgy to me. Also on their FAQ page none of the questions about withdrawal seem to have an answer?”
The people behind Bigmine.io are obviously experienced scammers. Making necessary adjustments to make it seem they’re legitimate is not beyond them.
Sending money to this site would likely result in losses. At best, this is a Ponzi scheme that would last a few months and disappear.
Whatever the case, this site is a big no for any discerning investor. You’ll do well to avoid it. For a reliable investment, you could check this recommendation. This is an investment site where you could grow your assets through a social investment scheme such as copy trading.
If you’ve had experience with Bigmine.io, please send in your comments below.