5 Star Mining, found online at 5SMining.com, is a bitcoin mining website that claims to make mining affordable for everyone. Find out how it works today in our review.
What is 5 Star Mining?
5 Star Mining is a cryptocurrency mining company that is currently giving away 200 GH/s mining plans for free to every new user who registers in the first three months. The company’s goal is to become one of the world’s largest mining companies.
Today, they claim to have over 88,000 users.
So far, 5 Star Mining sounds like a great investment opportunity. Unfortunately, based on everything we see on the official website, 5 Star Mining appears to be a complete scam. The first red flag is that the company promises returns of 3% to 6.5% per day, every day, guaranteed – far beyond the returns you see from any legitimate mining operation.
When someone promises to pay you 6.5% returns per day through crypto mining, it’s a sign you’re being scammed. Returns like this just don’t exist in the world of crypto mining.
In any case, let’s take a closer look at how 5 Star Mining works to determine if it’s really a scam or a legitimate investment opportunity.
How Does 5 Star Mining Work?
5 Star Mining has four plans available on its official website. Those plans include all of the following:
Beginner (3.5% ROI Per Day): 0 to 0.1 BTC
- 1 GH/s
- 8% profit from referrals
Novice (4% ROI Per Day): 0.101 to 1 BTC
- 1 GH/s
- 12% profit from referrals
Professional (5% ROI Per Day): 1.001 to 3 BTC
- 1 GH/s
- 16% profit from referrals
Expert (6.5% ROI Per Day): 3.001 to 50 BTC
- 1 GH/s
- 20% profit from referrals
As you can see, 5 Star Mining puts a big emphasis on referrals. That’s where the real profit of 5 Star Mining seems to come from: you don’t actually make 6.5% ROI per day from mining; you make it from referring other people to the platform. That makes 5 Star Mining more of a pyramid scheme or Ponzi scheme than a legitimate investment opportunity: the returns of older investors are paid by the membership fees (the deposits) of new members.
The scheme continues until an insufficient number of new members are recruited, at which point the entire system collapses and everyone loses their money.
Who’s Behind 5 Star Mining?
5 Star Mining refuses to disclose any information about its team, its background, or its location. Yes, the company expects you to send enormous amounts of money to them online despite the fact that they don’t disclose any information about themselves.
The company claims to have been founded in September 2017 “by a group of experts in mining, cryptography and high affinity in computer technology with having more than 20 years of experience in cryptocurrencies and mining.” How does someone have more than 20 years of crypto experience when the industry was launched in 2009? I have no idea.
The company names just one individual involved with the project: “Jeff”. No last name is given, and there’s no information about Jeff’s qualifications.
The company’s Facebook page lists a location in Agra, India. Meanwhile, a WHOIS lookup tells us the domain was registered on November 2, 2017 by an Iceland-based organization called IceNetworks, Ltd.
In general, it’s a bad idea to send money to anyone online when they refuse to disclose their identity – especially when they’re advertising a lucrative “investment opportunity”.
5 Star Mining Review Summary
5 Star Mining is a blatant cryptocurrency mining scam. The company doesn’t seem to have any legitimate mining system in place. Instead, the company’s revenue comes from a pyramid scheme-like structure, where the deposits of new members are used to pay the returns of older investors.
Ultimately, when someone tells you that they’ll pay you 6.5% per day, every day, then it’s a 100% sign you’re being scammed. Returns like this don’t exist in any legal investment opportunity – and they certainly don’t exist in cryptocurrency mining in 2017.
Based on everything we see on the official website, 5 Star Mining is a crypto investment scam you should absolutely avoid.