Due to the rising popularity of cryptocurrencies, fraudsters and scammers are coming up with new techniques everyday to lure susceptible investors in. Many of these schemes come in the form of unrealistic “investment options”, while others in the form of trading platforms. However, to be free of such scams, there are many things that one should be on the lookout for. For starters, an investor should do a thorough background check of the project they are investing in. Many a time, fraudulent projects do not reveal the identity of the main personnel involved in the scheme, and thus is it is best to stay clear of such ventures.
About Bitcoin Mine
Bitcoin Mine is a so called “investment opportunity” that has all the telltale signs of a being a scam. The website is shoddily made, and makes unsubstantiated claims in terms of what the future holds for bitcoin.
Benefits Of Bitcoin Mine
Some of the aspects of Bitcoin Mine which appear to be highly suspicious include:
Claims of Special Access:
One of the first issues that stand out in relation to this project, is the claim that Bitcoin Mine has “special access to Bitcoin servers”. Due to this “special permission”, the company claims they are able to take advantage of market variations and deliver users with the best profits available. This claim is unfounded, and has no substantial basis.
Another technique often employed by shady projects is that of promising unrealistic returns to its customers. Bitcoin Mine does exactly this, and promises to help its users make in excess of 7,598.15$ on a daily basis.
Should I Stay Clear Of This Site?
Yes, this site is not to be trusted as it makes far out claims such as having private access to Bitcoin Servers, and knowing Satoshi Nakamoto personally. It should be emphasised that no one has direct access to BTC servers, so any organization making such claims should be immediately disregarded.
Other Unsettling Aspects Of The Website
Suspicious Youtube Activity
Bitcoin Mine has posted a video on their site featuring a person who claims to be Satoshi Nakamoto, the founder of Bitcoin. Upon examination, we can see that the video is dark and the presenter is not visible even in the least. As soon as you watch it, it becomes all too clear that this is all part of a scam that is designed to lure in simple minded people and rip them of their hard earned assets.
While the project keeps making claims of having connections with the real creator of BitCoin, nowhere is there any evidence provided to match such claims. Such false advertising is not only unethical, but can also be used in court to take legal action against the founders of Bitcoin Mine (on the basis of impersonation).
No Background Details
Upon conducting basic online searches in regard to the founder of the company, we found literally nothing. A who.is search revealed that the name and address of the person who has registered the domain is hidden. Thus, there is literally no information in regards to any person linked with this project (a sureshot sign that this is a cash grab operation).
No Contact Details
Usually good crypto projects supply customers with ample means of getting in touch with support staff so as to help alleviate any questions or issues that they might have. However, upon a quick inspection of the Bitcoin Mine site, we find no such details (not even an email address that we can send a query to).
Bitcoin Mine Conclusion
When operating within the crypto domain, it is of utmost importance that we invest in projects that are honest and transparent. In this case, it basically seems like a random stranger on the internet is making unfounded claims, and asking us for our BTC so that he/she can mine for us and give us regular profits. If this does not sound like a scam, it don't know what does.
Lastly, there are no customer reviews or testimonials of any individuals in regard to this service. This indicates that Bitcoin Mine does not have a customer base, and thus all its claims of having been in this field for many years, falls flat on its face.