Kenzy is one of the sites that offer cloudmining services. As you may be aware, cloudmining is barely as profitable as most sites claim so it is important that you go through the claims and verify that you’re dealing with a real business before buying a mining plan. There are several ways of finding out if the site you’re about investing with is genuine or fake. In this post, our focus would be the features to look out for in cloudmining investments.
Is The Owner Known?
Most investment sites that do not clearly specify their owners should be avoided since the fact that they’re soliciting for funds from people should have made them declare the owner’s identity. This should be the first evidence of transparency for a cloudmining operation.
From what can be seen from the Kenzy site, it is obvious that the owners have no intention of revealing their identity. This should be a red flag that should keep savvy investors off this site.
The danger of investing your fund with a site that has no known owner is that it is easy to turn to an exit scam. The bad news is that you’d have no one to turn to when you lose your funds with such sites.
What is the Return on Investment?
The main attraction people have for scam cloudmining sites is that they usually offer ROI that are much higher than what a genuine mining operation offers. This is not surprising because fraudsters have little options on how to make the uninformed interested in their schemes except using promises of quick wealth which never materialized.
What is obvious is that scam cloudmining sites are meant to deceive people by making them believe that they would make big profits. Just think about it, why wouldn’t novices take notice of a site that promises overnight riches? Unfortunately, this is a clear red flag that is mostly overlooked by people because they’re eager for quick riches.
Is There Evidence of Mining?
In pool mining, the customer is supposed to contribute their own device in mining and later, the profit is shared by contributing miners. What the cloudminers do is ask people to purchase hashpower. Then they can sit back and start sharing in the profit the cloudmining operation makes depending on the hashpower they purchased.
The mining operation should be able to demonstrate that it is a genuine business that is actually mining. Evidence such as images of mining farms that can be verified should be provided. These when compared with the mining rates and reward should give an investor insight into whether they’re dealing with a genuine cloudminer or another scam.
As a rule, mining sites that claims they can double, triple or quadruple your funds in a short time such as a month or two are clear scams. Now look at this claim on the Kenzy site:
“Kenzy offers simple and fast mining just by signing up After depositing some amount, we take the responsibility of mining procedure and all you are going to do is watching the incoming flow of Bitcoins in minutes.”
You should know that every company is in business to make profit and will not give away its profits to investors. So if you come across a cloudmining operation that assures you of profit, you should be wary. The Kenzy site claims that:
“Similar service platforms do not give the same opportunity of investing any amount you want, either high or low, as we do by using our unique billing system. That is why we believe you should choose us to feel the pleasure of gaining Bitcoins in an easier and unlimited way.”
This should be understood to mean that genuine cloudmining operations do not accept random or low plans just to get money from people at all cost.
Known Physical Address?
No fraudsters would reveal their true location. Even when they claim that they have a physical office somewhere, you can be sure that it cannot be validated since scams are illegal activities that border on criminality. As you can see from the Kenzy website, there is no physical address that shows that the owner of the site is interested in being identified.
You can see that Kenzy made every effort to convince potential investors that it is a genuine investment site that renders cloudmining services. Even an earning calculator has the objective of making them believe that they will earn a lot of money on the site. Do not be deceived. Sending your funds to random sites just because they claimed that you’ll make profit is the quickest way of losing it.
It is better to invest with sites that have built online reputation and have the appropriate regulatory agencies overlooking their fund management activities. The site that we recommend will help you grow your funds through a social investment scheme that enables investors copy some of the best professional asset managers in the ecosystem. You can sign up here and start copying traders to get their exact result for your investments.
What is your experience with Kenzy cloudmining operation? Please let us know using the comment box.