Exposing a scam project when it has stolen people’s money can be annoying. That’s why coming across Cryptoearning.us at this time is appropriate since this review could help some people avoid this 5-day old scam.
Scammers are resilient in that it is a way of life to them. They move from one scam to another as they are discovered or when the previous scam has outlived its usefulness. This is why reviews must be made as quickly as possible to help people identify these scams.
Cryptoearning.us is another crypto mining scam that promises a high rate of returns for crypto investments. There is nothing unique or different from this mining scam from others except that according to the site, the scam is just 5 days old.
This means they are still luring in the first set of affiliates that would bring in the mass of losers that’ll be scammed.
What Does Cryptoearning.us claim?
According to the site copy,
“Cryptoearning.us Mining Limited is ready to propose profitable cooperation for all comers. We present a high-tech and modern company which is recognized industry leader in the field of computer technology, software and innovations. Our technical experts are involved in developing new methods and effective algorithms of Bitcoin mining.”
If you are conversant with crypto mining scams, they essentially follow the same pattern by claiming some advanced knowledge about bitcoin mining that no other person seems to have or even know about.
Now note this:
There are no new methods, no new more effective algorithms that are secret as far as bitcoin mining is concerned.
Bitcoin code and that of all other popular cryptocurrencies are open source. All developers cooperate in working on all coding processes through GitHub and other coding sites. Not even Satoshi Nakamoto the Bitcoin inventor worked completely alone in coding the coin.
Whenever there are improvements in mining processes, they are harnesses through the development of more efficient miners which are sold at a commercial level or employed by big corporations such as Bitmain.
No random obscure person can come up with the claims that they have secret knowledge of a better way of mining bitcoin. The effect of better mining equipment for Bitcoin is increased mining difficulty so no entity can theoretically take control of the Bitcoin network.
Another Lie By Cryptoearning.us
The scammers seemed not to have realized that it is contradictory to register a .us domain but claim that they’re operating out of the UK. Just check this:
“Over last few years Cryptoearning.us Mining Limited has managed to build a few large mining farms in the United Kingdom and Scotland.We have equipped them with the most powerful and modern mining hardware that around the clock provides excellent results and serves as a source for earnings.”
Why would a US registered site operate from the UK? The only reason is that the UK has a better operational environment than the US. Is this the reality in terms of bitcoin mining? I don’t think so.
Cheaper US Electricity
The primary factors that miners consider while setting up mining farms are electricity cost, temperature and government policies. Many cities in the US has cheaper electricity that the UK. For instance, in Louisiana the cost of electricity is 7.75c kwh but in Scotland the company would pay at least 12.3p kwh.
This implies that Cryptoearning.us left the US to the UK, a more difficult place to mine bitcoin – a very unreasonable decision for any legitimate company, but then this is just another scam.
Poorly Written Web Copy
The site further claimed that:
“In the summer of 2016-2023 our team has made a successful attempt to enter international investment market with to offer cooperation for clients and partners”
Unless you do not understand English language, that statement doesn’t really make sense. Which summer are they talking about? Is that a past activity or a forward-looking statement?
That a so-called high-tech company could not present a decent web copy is an indication that they are not what they claim.
No Authoriztion to Sell Investment Instrument
That Cryptoearning.us is offering a financial service (investment) with no license or authorization should keep intelligent people aware from this scam. It is always unfortunate that scammer always find losers irrespective of how much awareness we try to create.
It also claimed that they are providing everybody the opportunity to earn. I’ve always said it that no legitimate miners are asking for affiliates to promote their business. Miners make money without affiliates or investments from retailers. Mining is big business and scammers are taking advantage of people’s ignorance when they ask for mining investments.
And You Believe This?
“Our offer is valid on a permanent basis as well as your profits will be always accrued after you make a deposit, from 6% to 10% on a daily basis with the possibility to withdraw instantly.” -Cryptoearning.us
Sometimes, when intelligent people are fooled by scammers I always wonder where they left their thinking cap. For instance, why would anyone pay you 6 to 10 percent of your money in 24 hours? 10 percent daily is doubling your investment for you in just 10 days.
This means that if you invest $1000 with Cryptoearning.us, you’d get $2000 in 10 days. Isn’t that crazy? If money is made that way no one would be poor. If the scammers are making all that money I assure you that they won’t let anyone in on their “little secret”.
Who is Behind this Scam?
A whois search shows that the domain was registered by Namecheap Inc. on January 19, 2019. This means that this is a new site with no reputation. The owner is clearly eager to conceal their identity so they gave their name as “Web Developer” and his street address as “UK”.
So why would you trust someone like that with your money? You may as well donate to charity instead of a scammer.
It is clear that Cryptoearning.us has no farms anywhere because mining won’t give you that sort of ROI. What the scammers are doing is use many affiliates through their referral system to get many users to sign up and make deposit.
As soon as they have enough deposits, the scammers behind this project would shut down this site and move on to another site. The loser would be anyone who has sent coins to scammer.
You should check the service I recommend here. You can then sign up for the copy trading service and get the same result that experienced traders and investors get.
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