IQ Mining is a bitcoin mining scheme that promises to pay you $100 per day in exchange for an investment of just $500. Find out how it works today in our review.
What Is IQ Mining?
IQ Mining, found online at IQMining.com, is yet another cloud mining company. The company will take your money, put that money towards cloud mining, then pay you enormous ROIs.
The calculator on the official IQ Mining website claims users can expect to earn an average daily payout of $100 in exchange for an investment of just $500. And, the more you invest, the more money you can earn. If you invest $2500, for example, then you can earn $500 per day.
In other words, IQ Mining promises to break even on your investment every 5 days.
Obviously, there are plenty of bitcoin mining scams out there. Many of these companies make big promises about profits, but never back it up. Is IQ Mining a scam or a legitimate opportunity? Let’s take a closer look at how it works.
How Does IQ Mining Work?
IQ Mining describes its mining system as “smart mining” or “bitcoin mining 2.0”. They claim that their mining system leads to lower costs “thanks to smart contracts with data centers and high mining efficiency, due to automated altcoins mining switch.” As far as I can tell, this sentence is complete gibberish: IQ Mining is just throwing a bunch of tech buzzwords at you.
In any case, here’s the process IQ Mining uses to deliver 100% profits to investors every 5 days, guaranteed:
- IQ Mining rents power from data centers
- IQ Mining uses that power to mine the most profitable altcoins
- IQ Mining trades the altcoins for bitcoin
- Then, they transfer the profit into your wallet
All you need to do is sit back and relax. The company will mine on your behalf. You give them money, and they magically turn it into more money.
What’s even more amazing is that IQ Mining claims to have no maintenance fees. They also claim that investors have no risk. You’re guaranteed profit all day, every day.
Obviously, when someone is telling you about an investment opportunity that pays ROIs of 100% every 5 days with no risk, then that’s a certain sign you’re being scammed. This is one of many red flags telling us that IQ Mining is a scam.
IQ Mining Pricing
IQ Mining has three different investment packages available, including Bronze, Silver, and Gold. If you buy the Silver package, you’ll get a 10% bonus added to your payouts. If you buy the Gold package, you’ll get a 20% bonus.
Investments between 0.01 BTC and 0.1 BTC will get you the Bronze package. Investments between 0.1 BTC and 1 BTC are for the Silver package. And investments between 1 BTC and 10 BTC are for the Gold package.
The company claims to have a minimum withdrawal amount of 0.001 BTC. However, we can’t find any signs online that anyone has been able to withdraw. As far as we can tell, IQ Mining is a complete scam.
Who’s Behind IQ Mining?
IQ Mining’s website, like most online scams, has no information about itself, its location, or its management team.
When someone asks you to send them bitcoin online, but refuses to disclose their identity, it’s a good sign you’re being scammed.
The only information on the IQ Mining “About Us” page is that the company claims to have partnered with data centers in Canada, Russia, Iceland, Georgia, Algeria, and China. “Algeria” is a country you don’t typically associate with data center services. The company, according to all reports we could find online, has just a single small data center.
IQ Mining Conclusion
IQ Mining is a blatant bitcoin investment scam. The company promises to pay you guaranteed returns of 100% every 5 days. They claim there’s no risk involved in the process, and that anyone can make a lot of money with no skills or experience required. All you need to do is give IQ Mining between 0.1 and 10 BTC, and they’ll magically turn it into more BTC.
As far as we can tell, IQ Mining has no mining system in place. The company has no proof that it has ever paid investors. If you give money to IQ Mining, it seems unlikely that you’ll ever get it back.