In this review, we shall take a look at Virtual Mining Farm which is offering investors a chance to mine bitcoin for profit. If you’re interested in this site, spare a few minutes and read through this post to ascertain that it is what you’re searching for in your quest to mine bitcoins.
There are many services online that claim that they can help you mine bitcoin. Unfortunately, it is not easy to know the ones that you could rely on and make investment with. The influx of new sites has not helped matters because nearly every crypto investor is accosted with one investment opportunity or another.
What is Virtual Mining Farm?
This is a bitcoin mining business if we believe what is written on the site. But should we believe it judging from other evidences we have seen. You’d wonder what evidence. Well… an experienced Bitcoin miner would tell you that there are many things wrong with this site.
In fact, this is one site that claims to be involved in bitcoin mining but provided little proof that it actually knows what it is talking about. A look around the site shows that aside the barest information, there is no attempt to explain how this site is actually making profit despite its claims.
A standard bitcoin mining farm should at least show some proofs, if not through images of hardware, then should do so through elaborate explanation that shows that they know what they are talking about. None of these is evident on Virtual Mining Farm. Rather what you see are claims that could not be substantiated.
A New Site Making False Claims
A view of the site’s footer shows that the owner claims that it has been making payments to investors since 2017, but this is not true. A Whois search shows that the domain was registered on January 29, 2019, so they could not have been paying since 2017.
You should beware of investment sites that make false claims. It is the usual approach employed by fraud sites to create the impression that they have built an online credibility and give the investor a false sense of security.
Staking Bitcoin? You Can’t
Another obvious flaw in the site that actually shows that the owners claim that they are staking bitcoin to make profit, so they are inviting investors to make deposits of their bitcoin to make profit through staking.
Those that understand Bitcoin would tell you that the method of network consensus for Bitcoin is called proof of work so it is impossible for anyone to stake bitcoins for you. That is only applicable for networks that utilize proof of stake in protecting their platform.
This claim makes it obvious that the scammer behind this site do not know what they are talking about. Someone who does not understand Bitcoin basic features cannot mine it for you. So sending your coin to this platform is not just a waste of time, it is a waste of fund.
Just Hoping To Confuse Users?
“Share This Website With Your Friends & Earn 100 GH/S Staking Power For Every Active User You Send Our Way. And 50 GH/S For Every User They Gain!”
The above statement is from the site. Its purpose is to give the users the impression that they’re involved with something serious, but you shouldn’t be deceived.
According to SEC,
“Fraudsters often use complex new technologies to perpetrate investment schemes. They can claim their technology is highly secret. Investors should always be suspicious of hard to understand pitches that accompany promises of outsized returns.”
What is obvious about this site is that it doesn’t have the capacity to generate profit to pay you the daily 15 percent promised. In fact, it is not involved in any mining activity.
The owner of the site just set up a colorful platform to lure you to but its so-called staking for profit. Sending your cryptocurrency would result in a loss.
Who Owns This Site?
The site claims to be anonymous, apparently taking a cue from the anonymous Bitcoin founder, Nakamoto Satoshi. What they failed to understand is that Satoshi never asked people to send him funds to build Bitcoin.
Fraudsters are getting emboldened due to the fact that they could be half-way around the globe and steal from an investor. This is why every investor must learn to be knowledgeable about the offers they are presented with.
It is especially important that you conduct due diligence before sending your funds to a site. Most especially, never send your funds to a site that is not regulated by the appropriate agency that should oversee its activities.
Listen to this advice by the Securities and Exchange Commission:
“Fraudsters rely on the sad truth that many people simply don’t bother to investigate before they invest. It’s not enough to ask a promoter for more information or for references – fraudsters have no incentive to set you straight. Savvy investors take the time to do their own independent research.”
Why would you send your funds to a site that does not disclose the identity of the owners and their location but simply claim they’re anonymous?
It is very easy to lose your cryptocurrency to fraudsters because they are aware that transactions made with them are irreversible. Bear in mind that Virtual Mining Farm is an active scam.
Our top recommendation for investments shows you how to grow all your assets without breaking sweat. This is a site that is regulated so your funds are relatively safe.
If you have invested with Virtual Mining Farm, please share your experience using the comment box below.