If you know anything about mining cryptocurrencies, one fact that you would be conversant is that it is not as simple as people make it out to seem these days, especially with many sites striving to get investors to make deposits to be mined for as we shall see with Hashshiny.io.
To be conversant with cryptocurrency mining, it is important that you realize that there a growing industry around it and that information around it is no longer something that are few people have custody of.
All the popular coins that could generate money for a miner requires a lot of hardwork to generate while the little known coins may still have challenges in terms of converting them to popular coins or fiat.
This is why you should be skeptical over any cloudmining services that create the impression that mining in any form is an easy affair that could make you rich. In reality, most mining websites rarely mine at all but are just fronts used by ponzi schemes to get money from people who are not well informed about crypto mining.
What is Hashshiny.io?
The site claims to be a cloudmining platform that has deployed an advanced way of mining cryptocurrencies such as Bitcoin, Zcash, Ethereum and others. It also stated that those behind it as veterans of dotcom companies.
However, there are signs that anyone should look out for before investing in sites such as Hashshiny.io. These would show whether the company is a legitimate one or just another eager to steal your money by pretending that it is mining.
How Long Has Hashshiny.io Been in Business?
Online reputation is an important factor to consider before making a deposit to a site that claims to be capable of making you money. You should strive to find out if such site has been online for an extended time and if it actually has consistently delivered impeccable service to its customers.
The domain, Hashshiny.io was registered on July 9, 2018. This means that the site is still less than a year. The fact that most cloudmining services offer contracts of one or two years means that this is a service that has not been proven and therefore risky for any investors to put their money in.
The reason is that a year or two is a lengthy period within which anything could happen. In reality, the site could be gone by the time the contract may have expired.
Where Are Hashshiny Mining Farms Located?
The evidence that you’re dealing with a real mining company and not a Ponzi scam is proof that the company actually has mining rigs. When this is not proven, you could bet that the funds you deposited could be lost.
Hashshiny claims that they have mining rigs in Inner Mongolia and Sichua China apparently because these are locations where electricity is cheap. Nevertheless, they could not prove that this is true despite showing pictures of hardware that could have been gotten from any source.
The fact that they could not prove that the images they placed on their site does not belong to the company makes this a suspicious mining site.
Has Hashshiny.io Been Operational 3 Years?
A closer look at the site shows that the owners claim that the company has been around since 2016. As shown through a Whois search of the domain, it is obvious that this is another lie and a ploy to deceive people into making that crucial decision to purchase their mining hashrate. Every evidence points to the fact that the site was set up in 2018 and not 2016.
Hashshiny.io claims that mining of cryptocurrencies is profitable and the best way to obtain the coins at cost price. The fact is that real mining companies mostly do not have the option of soliciting for funds from retail investors the way Hashshiny does.
The reason is that it is a massive business backed by big investors and not small time depositors. This is why you must be wary of all these sites asking for mining contract sales. Most are not mining and in any case, mining is barely that profitable since the price of Bitcoin plummeted in 2018.
There are better ways of making profit through cryptocurrency investment and you’d do well to find out how this could be done and do so instead of hanging around uncertain sites like Hashshiny.io.
If you’ve had experience with this site and wish to share it, please use the comment box below.