Dogechain Biz is a platform that encourages you to mine DOGE, through its cloudmining service. We are looking at this site, with the intention to determine how authentic it is in its quest and claims that it is a source of DOGE for the users.
DOGE, the internal currency of the Dogecoin ecosystem became quite popular among gamers a few years ago, but we have witnessed the impact of a pump this year as prominent people such as Elon Musk of Tesla shilled the token.
Obviously, a lot of players, both benign and malicious are taking advantage of the fact that the coin market has taken notice of DOGE to port with the intention of earning more of this digital asset that has shown that it is not just a meme coin.
What is Dogechain Biz?
Cloudminig sites come in different shades and employ different approaches. Dogechain Biz claims that it is an ultra fast mining business that sells hashrates to users to enable them to mine profitably.
It offers an incentive of 10K in free hash power so that the investor can quickly start mining even before they purchase a mining plan. According to the site, their technical team takes care of all the issues regarding mining, such as the mining rigs so that you, the investor, have nothing to bother about.
How Does It Work?
According to the web copy, the user just has to sign up to get some free hashpower with which they can use to get some free coins which they can withdraw whenever they like. Withdrawals are daily, but…there is a minimum threshold before the user can withdraw.
How Reliable is This Platform ?
Having seen how this cloudmining operation works, you are probably wondering if this is your best bet of getting some free DOGE or if this is another waste of time or even a scam. Well, this is what we shall see in the rest of this post.
Who is Behind This Mining Site?
Ordinarily, you would expect to know the entities behind a business that you’re dealing with, but this is not the case with Dogechain Biz. The contact page showed nothing except a phone number and an address: Chobham ST, London, United Kingdom, E15 1LX.
A close scrutiny of the address shows that it is incomplete. This is the first red flag, but we can overlook it and search further.
A Whois search shows that the domain was registered on September 3, 2021. A new business you’d say. And of course, the owner used a privacy service to conceal their identity.
Will You Make Money Here?
Well, I suppose that you’re wondering if this is a site where you can mine and get some money. I’m sorry to disappoint you. You cannot. The reason is that this site is not making money. The business is more interested in getting your money than making you money.
But They Said I Can Mine Free!
Well, that is a trick used by phantom cloudmining operations. Why am I certain? When you sign up and link your dogecoin wallet, the platform starts “generating dogecoins” in your account, but at an extremely slow rate that won’t buy you a cup of coffee even if you mine for 5 years.
The operators would then advise you to buy a higher hashrate so that you could earn more money at a faster rate to enable you to reach the withdrawal threshold. If you do send them money, you still would not make any reasonable withdrawals because there is actually no mining going on.
Their interest is the upgrade fund that you pay them. This is why they have a referral program. They’re hoping to generate funds as more of the people that are referred buy the fake mining plans.
When you’re frustrated and desire to earn and withdraw, you’ll be directed to made a minimum deposit of 200 DOGE to the owner’s wallet:
25% Extra GH/s on Deposits of 500 DOGECOIN and above and 40% extra GH/s on deposits greater than 1000 DOGECOINS.
please send minimum 200 DOGE to:
Why Is This Another Scam?
To the uninformed, it may not be obvious that Dogechain Biz is a scam designed to waste people’s time and steal their money. But if you understand how cryptocurrency mining works, you’ll be left in no doubt that this is a scam. Here is why:
Most of the content on the Dogechain Biz site was copied from other sources. No genuine business plagiarizes the content of their website.
This site is a messy one that was designed, not just to steal dogecoins from people but to sell affiliate products and services such as gambling, trading and more. Nearly every click on the site leads to one affiliate site or another. This is why they’re interested in having you promote their referral program.
Very New Site
The site is just a month old link bait that is meant to bring affiliates for the owner and also help them steal dogecoins and exit as another crypto scam.
Dummy Menu Link
The FAQ page is a dummy link that leads nowhere. No serious business operates with dead links on their site.
The Securities and Exchange Commission (SEC) Advisory stated that grammatical errors could be a pointer that you’re dealing with a fraud website. Here is one of the plagiarized content of Dogchain Biz site:
Our technical team is taking care of your all [sic] mining hardware. We provide the perfect cloud mining solution with 24*7 technical support. Our expert team is available round the clock to assist you with any concerns.
Did you notice that even the address and phone number of the source were copied by Dogechain Biz too?
Low Quality Copy
This is obvious when you look around the site.
The reason they made this threshold difficult to reach 50 DOGE is that they’re interested in making you make a deposit of 200 DOGE.
Dogechain Biz is definitely a scam. If this was just another faucet, they wouldn’t be asking you to make a deposit.