Bitmining.biz Review Is BitMining Scam or Should I Invest

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BitMining.biz Review

Bitmining dot biz is a domain registered with the NameCheap, Inc. registrar on August 29, 2020 (less than one month ago as of the writing of this review) for 1 year. Even though it is a very young domain, it is getting substantial traffic, especially from countries such as Brazil, Venezuela, and Russia. This can be explained by the fact that Bitmining is advertised on ad networks such as adbtc.top and mellowads.com. Maybe also by the fact that it offers a promising affiliate program. Is BitMining.biz a legitimate investment opportunity or a scam? Let’s see…

Update (October 2020): The Bitmining.biz website is currently down, indicating that indeed it may have been a scam.

As of today BitMining.biz has been online for 20 days and already hosts 43,478 accounts! It is claimed that 161.85616372 BTC had been deposited, while 37.4648418 BTC had been withdrawn. This means people have deposited more than $80K with BitMining PER DAY since its inception!

Who is Behind BitMining.biz?

The company BitMining Limited was established in 2020 as an asset management company allegedly involved in trading and mining of cryptocurrencies. They are said to be a “fully certified and licensed company” with a UK license number: #12184485. A search in companieshouse.gov.uk reveals this is indeed true. The company’s address is: 45 Haverstock Hill Hampstead, London, United Kingdom, NW3 2AJ. It’s an active private limited company incorporated on 2 September 2020 to be involved in “activities of financial services holding companies.” Director is Bailey Wilson (Correspondence address: 85 Marlborough Crescent, Southery, Norfolk, United Kingdom, PE38 9QD).

The fact that there’s a real person behind this operation offers a significant boost to its trustworthiness. However, we’re not done yet…

BitMining Limited is involved in cryptocurrency trading and cloud mining operations. The profits they allegedly generate through these methods are then passed on to their investors. We don’t like how they portray the investment to be “risk free.” The text is also ridden with spelling and grammatical errors which doesn’t give the greatest of impressions. For example, they write: “Having privet mining farms allows distinctive possibilities to serve our clients the best way they deserve. The remarkably Increasing rates have opened up many occasions especially for who typically solicit high-density extent with low power dissipation.”

Anyway, the idea which BitMining Limited is trying to push is far from unique. They provide the mining equipment and trading knowledge, while their investors provide the funds.

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BitMining.biz Contact Information

BitMining.biz is owned and operated by BitMining Limited.

Address: 45 Haverstock Hill Hampstead, London, United Kingdom, NW3 2AJ.

Phone number is provided for VIP clients.

There’s also a contact form on the website.

How Does it Work?

The first step for joining BitMining Limited is to open an account. Then a deposit has to be made (in Bitcoin, Litecoin, Ethereum, Dash, Dogecoin, or Bitcoin Cash). Minimum deposit is 0.001 BTC while the maximum deposit is 100 BTC. There are three investment plan with different ROIs:

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  1. 10% daily forever
  2. 900% after 30 days
  3. 3000% after 60 days

For example, if you deposit 1 BTC in the first plan, then you are supposed to earn $1,000 every day for the rest of your life ($30k per month/$360k per year). You will cover your deposit within 10 days. If you invest 1 BTC in the second program, then you will get $90,000 after 1 month, or $300,000 after 2 months (if you opt for the third plan.)

Withdrawals can be made as soon as the balance has a minimum of 0.0001 BTC. All payouts are made automatically and instantly. There are no withdrawal fees.

2-Tier Affiliate Program

You don’t need an active deposit to take advantage of our affiliate offer. After signing up, any member can use their personal affiliate link to get rewards via the BitMining referral program, potentially earning 1-5% commission for every deposit made by referrals.

For example, if you bring a client to BitMining and they make a 1 BTC deposit (approximately $10K as of the time of writing), then you earn $500 for that client. If this client brings additional clients, then for each one depositing 1 BTC, you will earn $100.

So is BitMining.biz a Scam?

The evidence presented until now is arguably inconclusive. Though the promised returns on investment seems way far fetched and too good to be true. Let’s see if there’s any other proof that BitMining.biz is a scam.

Firstly, there seems to be a connection between bitmining.biz and the following cryptocurrency faucet websites:

  • moonbitcoin.cash
  • moondoge.co.in
  • moondash.co.in
  • moonliteco.in
  • moonbit.co.in

However, it seems likely that BitMining has been using these sites as an advertisement platform and that the services are not owned by the same people/company.

In their Terms of Service document, titled Rules & Agreements, things start getting weird. The document says:

trieragroup.club is not available to the general public and is opened only to the qualified members of trieragroup.club, the use of this site is restricted to our members and to individuals personally invited by them. Every deposit is considered to be a private transaction between the trieragroup.club and its Member.

So either BitMining “stole” this page from trieragroup.club or is its successor. What is trieragroup.club? It was an investment company, but it’s currently down, potentially indicating it was a scam.

Finally, let’s take a look at BitMining’s thread on beermoneyforum.com. Several people call it a scam without explaining. One person says:

If you didn’t invest on day 1, don’t invest. This is known as a ponzi scheme. Early investors get the most, later investors get the least. These kind of sites pay at first, but stop abruptly.

Other people seem a bit more sympathetic. One writes:

I really like the BitMining company. I was in their office. This is a truly legal business. I invested 2 bitcoins and make a profit daily

Another person presents “proof:”

Company Pays 0.00314018 BTC c876927f8684b05ba54d0ea733662ce23e44b4e36b8c209c318a2c742cf7921f

BitMining.biz Review – LEGIT OR BOGUS?

OFFICIAL SCAM SITE: BitMining.biz

BitMining.biz claims to be a super high yielding Bitcoin mining program, which can generate some truly astounding results. According to the website, this BTC miner can produce profits of 10% every single day for life, and there are even better packages which can be invested in as well. Now, Bitcoin miners can be profitable, but at this time the BTC and crypto market in general is really bad, it has been tanking over the last few days.

Moreover, even if the BTC market were in an upward trend right now, the profits promised buy this BitMining.biz system are truly ludicrous. That’s not all, because there are several scam factors that need addressing here today. This is our BitMining.biz scam review and we want to get to the bottom of this highly questionable crypto miner app once and for all.

BitMining.biz HYIP – ANONYMOUS!

The first thing we noticed about the BitMining.biz app is the fact that there is no transparency in terms of leadership. There is no mention of who might lead or own this Bitcoin mining company, just nothing at all. Guys, do you really want to invest your hard earned money with a suspicious BTC miner app that totally lacks transparency.

The people behind this scam could be literally anybody, and make no mistake about it, because they have purposely remained hidden from sight. This kind of anonymity is always indicative of a scam and it signals that there is something illegal in the works here. If we are expected to invest our money with this BitMining.biz system, we definitely want to know who the heck is in charge of it.

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BitMining.biz Limited – Company Status

Speaking of the leadership and the BitMining.biz Limited company itself, there is also some phony info about it provided on the website. According to the site, this company is registered with the UK Companies House. There is even a very real looking registration document shown on the website for us to look at. However, we cannot take this at face value, so we did a bit of research.

According to the actual UK Companies House, this BitMining.biz Limited company is definitely not legit or registered. What you see on the website is nothing more than a fake document created with some photo editing software.

What also deserves a mention here is that this is supposedly an investment company that provides financial services. Well, this means that it would have to be registered and licensed with the proper authorities, such as the FCA for one. Of course, this BitMining.biz company is not licensed at all. It is therefore a completely illegal company, one which has zero authority to do anything which it claims to do. It’s all just a massive scam as far as we can tell.

BitMining.biz Scam – NO MINING OR PROFITS!

What is also definitely worth mentioning here is that profits promised by this BitMining.biz are completely bogus and unrealistic. Here, we are told that if we were to invest a certain amount of money, we will receive a 3,000% ROI after 60 days. There is also another investment package which claims to provide 10% ROI daily for the rest of our lives. Folks, these numbers are totally unrealistic and impossible to achieve. Even if we were to assume that this BitMining.biz system is legit, the numbers just don’t add up. There’s not a single investment system in the world that can achieve returns like this.

What also needs mentioning is that there is no solid evidence that the BitMining.biz app does any mining at all. We are told what the mining hash rate is, where the mining farm is located, or anything else of the sort, just nothing at all. Promising us such massive returns without providing us with concrete info and evidence that there is actually BTC being mined for here is beyond suspicious. It’s totally ridiculous.

Moreover, don’t be fooled by the so called payouts and accounts info shown on the main website. Supposedly there is close to 40 BTC that has been payed out so far, with over 40,000 active accounts. Folks, there is no evidence that this is real. What we do know is that we have read thousands of complaints about this BitMining.biz scam, and how it does not actually pay out any money. It’s almost impressive how a scam that has been active for roughly 3 weeks already has so many complaints against it!

BitMining.biz Affiliate Program – More BS!

Another lie or scam factor which we discovered about this BitMining.biz system has to do with the affiliate program. Here, there are two tiers to the affiliate program, and together, allegedly, you can earn up to 5% in commission for getting others to invest. Sure, it would be great if you could get a 5% bonus on the investment made by friends and family, but it simply is not true.

We have spoken to quite a few people who were promised this bonus, and of course, not a single one has ever received even a single percent in bonuses. Moreover, this is just a way for the crooks in charge to widen their net and to scam even more people, by getting you to actively scam your family. Don’t fall for it!

BitMining.biz Review – Final Thoughts

Folks, as you can see, this BitMining.biz is most definitely a scam. There is literally not a single honest thing on the website. The owners of this crypto miner app are nowhere to be found, and it is also pretty obvious that the company is completely illegal too. There is not a single shred of evidence which would indicate that any cryptocurrencies are mined for here. Even if this is a functioning miner, we know that not a single person out there has received any kind of profits or payouts. The bottom line is that the BitMining.biz system is a scam, a rip off, and nothing more than a way to steal your money! Please folks, stay away from this crypto scam, because it will cost you every last penny you invest.

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BitMining.biz Review: Legit? Genuine? BitMining Scam

Bit Mining Review: Find the truth about BitMining.biz scam company here. BitMining is a scam, not a genuine or trustworthy company. Yes, we agree that it may pay a few members but that doesn’t make it legal or sustainable. It will stop paying sooner or later due to which the majority of members will lose their money. Why? Well, let’s find out the answer in detail through our BitMining review here.

Why is the Bit Mining scam? What is BitMining.biz in real?

BitMining is a fraudulent website due to the following reasons:-

# BitMining is a Ponzi scheme which is neither a legal nor a sustainable scheme. Legal authorities have already warned the general public to stay out of the Ponzi scheme due to its unsustainable nature. The majority of members will lose their money in Ponzi scheme and only a few ones who join the system at first will make some few bucks due to which you will find out few people who promote and support some Ponzi schemes.

# We can say BitMining is a Ponzi scheme because it doesn’t have any real source of income to pay profit to its members. It claims to pay high profit like 10% profit daily on the investment amount of members/affiliates by using the money of members in the cryptocurrency mining and trading field. But, it fails to provide proof of the existence of its so-called investment in the cryptocurrency mining and trading field, there’s no evidence on that. On top of that, none of the experts in the cryptocurrency mining and trading field can guarantee to pay a 10% profit daily. So, the business claim of BitMining doesn’t make any sense and proves itself to be a Ponzi scheme. This proves it doesn’t have any real source of income and only can pay members by routing the money between the members which is not a sustainable business.

# All the Ponzi schemes like BitMining trick people by showing the real payment proofs because they pay few members at starting by routing the money between the members so that they can lure more people into their scheme by showing those payment proofs. However, it is practically not possible to pay all members in that way because when they pay one member, they need to use the money invested by other two members so that they can pay the principle and profit to that one member. But, whenever they pay members in that way, they will create a debt equal to the amount of profit that they use to pay the members. So, even Ponzi schemes like BitMining want to pay all members they can’t because day by day the debt will be kept on increasing and they will not have enough fund to pay all members. That’s why Ponzi schemes like BitMining are illegal schemes.

# BitMining has tried to trick people by showing the company’s registration document registered from the UK Companies House in the name of BITMINING LIMITED. But, don’t fall for that trick. Lots of Ponzi schemes in the past had already turned into scams which were registered from the UK Companies House. Actually, it is very easy to register a company in the UK Companies House by providing the virtual address which you can rent from the virtual address provider services as well as by providing the third person identities. Even you can register a company in the UK Companies House without a big hassle. On top of that, such kind of registration is not the license to run an investment company like BitMining, but just a registration for the tax purpose. On the other hand, there is not any proof that proves BITMINING LIMITED is operating BitMining website.

# Legal authorities have already issued warnings to the general public to stay out of Ponzi schemes like BitMining. So, if you still don’t believe us, you can ask the legal authorities in your country to check the business of BitMining, then you will find out the reality yourself.

Now you know that BitMining is a Ponzi scheme. So, BitMining is a scam. That’s why we have listed Bit Mining within our “Scams” category which means we don’t recommend you to invest in BitMining.

Don’t go after these kinds of easy ways to make money online. If you are looking for a serious way to make money online, then leave these kinds of easy ways to make money online. Instead, do your own blogging business. Yes, it may sound difficult, but it is not. These days it is very easy to start your own blogging business by joining renowned training programs like Wealthy Affiliate where you can learn everything about blogging through video tutorials and make money from there. If you want to find out more details, then you can check the Wealthy Affiliate Review provided by NewsOnlineIncome.com by clicking this link:- newsonlineincome.com/wealthy-affiliate-review/

You can find the various kinds of scams listed within our “Scams” category by clicking >HERE HERE Categories Scams Leave a comment

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