There are many sites that are projected to be in mining operation. Many claim they would make profit for people that buy their mining plans as seen with Mining Up. However, it is important to distinguish between genuine mining operations and many scams in the industry so that you do not lose your money.
There are several features and claims to look out for to determine the sort of mining site you are dealing it. Before then, it is important that the investor gain insight into the mechanics of mining so that they understand whether the site they’re dealing with is genuine or if they’re being taken for a ride by another fraudster.
For Mining Up, we shall start with the claims on the site which are mostly spurious.
Should You Invest In This?
According to information on the site:
“Our mining farms are built close to various power plants in Estonia.”
If you are knowledgeable about mining, you’d understand that Estonia is one of the most cryptocurrency-friendly countries in terms of regulations. It is a haven for miners so it is rather convenient for anyone to claim to have a farm there.
What we see with Mining Up is just claims that could not be substantiated. There is absolutely no evidence that the owner of this site has a mining farm in Estonia or any other country for that matter. What we have on the site is just words that mean nothing.
The site asserts that its office is located at Mining-up Ltd. Narva maantee 7, 10117 Tallinn, Estonia, but a background investigation shows that this is an arbitrary address the owner of the site allocated to themselves.
Scam mining sites routinely use pictorial evidence to convince the gullible that they run a genuine mining operation. This particular site did not even dignify its claim with one of such fake pictures. Perhaps, they know that review sites such as this know how to bust their lies.
Made it Sound Easy
The site also claimed that:
“We mine Bitcoin, which is the most high-costing and popular cryptocurrency, as well as other promising altcoins.”
The site claims that you can start making profit from the day that you signed up and possibly make a deposit. If you understand how mining works, you would know that this is just not possible.
Only the biggest mining pools, not even miners are sure of winning blocks that translate to profit on a daily basis. For a small miner, they may never see profit for weeks or months. With the mining difficulty of Bitcoin on the increase, this would become even more apparent.
A Zero Risk Investment?
You should be aware that any sites or investment platforms that give assurance of zero risk are most likely scams. When they promise you high profit as in this case, then assure you there are no risks, they’re more interested in stealing your money. So the claim that:
“Our clients can mine without any risks and get everyday income” lacks merit and should be discountenanced. It is a strategy employed by fraudsters to deceive people and steal their money.
Who is The Owner?
It is interesting that a site that claims that it has paid out more than 26 bitcoins could not name its owner. That the identity of the owner is shrouded in secrecy is an indication that the motive for setting up the site is dubious.
The site by the way is barely five months old and it claims it is making so much money. Interestingly, it wants everyone to come and share in its profit. Why would a genuine business give away large chunks of its profit? This is just a technique used by scams to get money from people.
Why should anyone send their funds to people whose identity is hidden? That means that they have no one to hold responsible if something goes wrong.
Interestingly, the site showed the image and supposed name of customers which they used as a testimony. There are several of these testifiers and which are faked identities. We realized that the owner of the site stole images from the internet to create these phantom IDs.
For instance, we found photos of Faith Dunn and Gretchen Owens online confirming our suspicion that these are faked identities used to create the false testimonies.
You’ll agree with me that getting 14 testimonies all saying something positive about a scheme isn’t easy. If such schemes exist that is practically making people rich so quickly, no one would be poor.
Need A Genuine Investment Site?
You may be wondering if there are genuine sites with which you could earn. The truth is that there are good investment sites that can help you grow your assets. Such sites are regulated by the relevant authorities and operate under strict guidelines.
This is to ensure that your funds are safe and that they are not used for criminal activities. If you’re interested in the site that we us, you can sign up here. After making a deposit, you can grow your fund through copy trading with the click of a button.
Do not worry, it is a simple process in which you follow expert traders to get the same result they get in trades.
What is your opinion or experience with Mining Up? Please share them with us using the comment box below.