If you’re thinking of growing your assets, you may come across a site like Coinph Mining which promises just that – helping you make easy money.
Not just this site but many others are in the business of selling investment options that sometimes promise outsized profits. Most of these sites are convincing that trusting them is easy but many others are not.
In this post, we shall look at the prospects of Coinph Mining and what the owners plan behind the scene. The essence is to help you make investment decisions and possible make a wise one.
What is Coinph Mining?
This is a cryptocurrency investment site that is registered in the UK. This is the much that could be garnered from the site which did not state exactly what the company does with the invested funds to make profit.
According to available information on the site,
“Coinph-mining.com offers lucrative cryptocurrency market investments. Profitable operations and high yield are achieved through the use of modern systems for the cloud Bitcoin mining.
The company cooperates with the largest farms in several countries (United Kingdom, United States of America, German, Japan, and China). Together, we have formed a large enough network that has high performance and strong potential..”
For an investment site, this is really scanty information. The owner of the site is effectively saying that investors should simply send their funds to the company because they know one or two tricks about investing.
Things do not really work that way so this is meant to deceive people who are not informed on how genuine investments work.
In reality, being associate to big mining farms does not make you a big mining farm because every miner is in the business to make profit for their company.
Since Coinph Mining is just an associate, there is serious doubt that these claims of profitability and high yield is a ploy to deceive the prospective investor since the so-called big mining farms do not boast of such profits.
According to the SEC website,
“Fraudsters often use complex new technologies to perpetrate investment schemes. They can claim their technology is highly secret. Investors should always be suspicious of hard to understand pitches that accompany promises of outsized returns.”
This is what the site seems to have driven at: use terms that the investor won’t understand to create the impression that they know what they are doing. You can see this in most claims on the site which are spurious:
“Coinph-mining.com technical experts possess the necessary knowledge and are in close cooperation with financial analysts and traders on cryptocurrency exchanges ready to make a profit on a consistent basis, and to develop and influence the development of Bitcoin industry as a whole.”
Safe Participation is Not Safe
Every savvy investor is aware that there is no foolproof investment. There always are risks involved and genuine investment sites make it clear that your funds are at risk. However, fraudsters would never make this fact known to the investors because their objective is just to get your funds.
The claims that your fund is safe as seen with this mining and trading site are a pointer that the people behind it are malicious. According to the website:
“Since 2017, we have been presenting the investment program that is a product of development and long-term studies. Participation in our projects is completely safe and reliable in terms of keeping your investment.”
These are some of the signs to look out for in discovering how safe an investment is. If the operators lie in any of their assertions, it should be a red sign for the investor to know that their investment is not safe.
According to the Securities and Exchange website,
“Guaranteed returns” aren’t. Every investment carries some degree of risk, and the level of risk typically correlates with the return you can expect to receive…Most fraudsters spend a lot of time trying to convince investors that extremely high returns are “guaranteed” or “can’t miss.” Don’t believe it.”
Is This Online Since 2017?
Now look at this statement by Coinph Mining again,
“Since 2017, we have been presenting the investment program that is a product of development and long-term studies.”
Compare this with the Whois search result of their domain. What you see is that owners of a domain registered on March 18, 2019 misrepresented this fact to make investors believe that the company has been in operation for 2 years despite evidence to the contrary.
Fraudsters would have you believe that they have been consistent in paying their investors by lying about how long they have been in business. This is to deceive new prospective participants and steal their funds.
High Yield Investment Scam
Since the advent of Bitcoin and other cryptocurrencies, scammers have been working hard to give people the impression that this is the ‘new way to get rich’
They’re aware that not many people are informed about these digital assets, so they set up phony investment sites like this to steal people’s money by promising them that they would make them rich through cryptocurrencies by investing their money in it.
You need to realize that cryptocurrencies are money. Since money doesn’t fall from the sky or from trees, there’s no way anyone would quickly make you rich because you invested some money with them.
A look at the Coinph Mining investment plans shows that they promise ROI of up to 350 percent after 72 hours. This is practically impossible for a genuine investment site to accomplish.
The fraudster behind this site is interested in your money. So they’re appealing to your emotion hoping that you’d be greedy enough to fall for it.
Genuine investment sites are regulated by the appropriate government agencies. They do not hype their services and do not lie with statistics such as false deposits and withdrawals. The owners of such sites are known since they operate their businesses without breaking the law.
This is why you must not send your money to a random site making silly claims. You can check a reliable site that is our top recommendation for investors here.
What is your experience with high yield investment scams? Please share them using the comment box below.