One of the attractions people have towards Bitcoin and many other cryptocurrencies is the fact that these coins could be generated independently using what is termed as miners. These are basically computers that extract the coins using set principles. Luxmine Biz is one of the many sites that promise their investors that they could earn Bitcoin through investment scheme.
Insomuch that there are mining companies with sites that operate based on cloudmining principles. It has been observed that there are many others that are not involved in mining, yet these use mining as fronts to generate funds from investors.
Many of these investors end up losing their funds in the quest to earn Bitcoin. This is the essence of this review: to show users what they should look out for in a mining site to know if it is genuine or fake with emphasis on Luxmine Biz.
What is Luxmine Biz?
Luxmine claims it is a cloudmining company that owns and operates its mining activities using the best technology available. The company also claimed that it has been in operation since 2016 as seen with this web copy of the site:
“Luxmine – An international cloud mining company that owns the most powerful mining equipment for cryptocurrencies is based on blockchain technology. Our cloud mining service was created by the highest level IT specialists in 2016.”
A critical look at the description would show an examiner that this copy was not done by a professional. The quality of the grammar should also indicate that this is not a serious investment site since there is nothing about the content that evinced that the people behind it are experts in the field of IT or even fund management.
The site further exposed its low quality content with this:
“In a short period of time, we have infested our capacities based on the most advanced equipment and turned into a large mining farm for Bitcoin, Litecoin, Dogecoin and other cryptocurrencies.”
The poor spelling and grammar should ordinarily warn an investor that this is not a reputable site. We have gone further to prove this for the benefit of the doubtful.
No Online Reputation
Scam sites usually lie about when they started operating because they’re aware that people tend to trust sites that have built an online credibility over time.
This is the main reason why scam sites that have been online only a short time would claim that they have been around longer. They just want to make the potential investor believe that the site could be trusted with their money. But this is hardly so.
Cryptoinfowatch for example has been operating less than a year. If you check our site footer, you would see this clearly shown. Scam sites generally would claim they have been around for 3 or 4 year in the quest to deceive an investor and lure them to buy their investment plans.
A whois search of the domain Luxminedotbiz shows that it was registered on January 21, 2019 and not in 2016 as claimed by the site. This intention to deceive the users is routine among scam sites and should warn potential investors against investing in such sites.
No Evidence of Mining
There are many sites that claim they are involved in cloudmining because they’re aware that many enthusiasts of cryptocurrencies such as Bitcoin are not well informed on what mining is and how it is done.
Since these investors assume that Bitcoin could be mined easily and profitably, they assume that it is a quick path to wealth because this is the scenario presented by scam miners.
Genuine mining sites try as much as they can to present some evidence to their clients and potential investors to show that they are actually mining. This could be through photos of their farms and visits by investors.
However, there is no evidence that Luxmine provided debar some random pictures that may have been taken from the web. This is the picture of a massive mine so we decided to check the one that has image of a person using reverse engineering.
The result showed that the image used on the Luxmine site was actually not an original but taken from the internet. This makes it clear that there is nothing authentic or legitimate about Luxmine. Sending funds to this scam mining site would result in the loss of your funds.
The cleverest strategy employed by scammers and scam sites is the appeal to people’s greed. They are aware that most people are eager to put in little work to make money, so they take advantage of this by offering such investors high yield investment schemes or ponzi schemes.
They are aware that people generally find the lure for quick money irresistible and many would buy plans even though their better reason tells them the investment is too good to be true.
The Luxmine biz investment plans are outrageously high. The least plan promises 0.5 percent daily profit with no investment deposit. Such plans would demand that the user makes some deposits before withdrawals are effected, but if they do, they most likely would get nothing.
The highest plan offers 7.5 percent daily profit. This is no doubt a ploy to lure since commonsense should tell you that such investment returns is practically impossible to sustain.
Luxmine Biz has all the features and red signs of a scam mining site. These are false deposit and withdrawal stats, absence of verifiable owners, emphasis on referrals and an unrealistic ROI.
Any investors sending funds to this site would lose them assuredly. This is why it is advisable to conduct some research on any sites to be certain that it is a legitimate one before considering dealing with them.
The best sites for cryprocurrency investments are regulated ones such as our top recommendation. Acting otherwise with random sites results in losses.
What experience have you had with Luxmine Biz? Please share them using the comment box below.