The advent of cryptocurrencies has seen a frenzy of scams. People are vulnerable to falling for scams as the whole industry is new, and most people are uneducated or unaware of the products, services and the underlying technology.
One of the biggest domain in the crypto industry that has been hit by scams is the mining industry. Crypto-mining, first of all, is esoteric in nature and there is no fixed rate of income from it. Profitability fluctuates with the market.
Speedmine claims its a cryptocurrency cloud mining company, however, it might just be another HYIP scheme looking to lure vulnerable customers into their Ponzi scheme.
What Is Speed Mine?
Speedmine develops software for cloud mining and ensures maintenance of the equipment in their data centers. Their mission is to make the production of cryptocurrencies accessible to everyone, regardless of experience, investment value or technical skills. Their team wants to give their clients the opportunities to try to earn an income from mining.
However, these are just claims. The company is far from doing things that they have claimed above.
Speed Mine Instant Crypto Cloud Mining For Bitcoin Advantages
- 24/7 support: Their staff is always ready to assist you or answer all your question.
- High Return: The company promises high returns for up to 33.33% per month, with no need of initial investment.
- Profitable Affiliate Program: You get a profit of 7% to attract new users to Speedmine’s system.
Speed Mine Criticisms
In all likelihood, Speedmine is an HYIP scam. Some of the red flags of it being a scam are as follows:
- No contact: There is absolutely no contact information available on their website. Even though they claim 24/7 customer support, there is no way for the user to get through the customer care team.
- No team member information: There are absolutely no details about the founders or any of the team members.
- Social media link off: The site has social media links such as Facebook, Twitter, Google Plus and Linkedin, however, when you click on the links, you are directed back to the same landing page.
- Terrible Website content: No content on the site is good enough to convince you that the company mines cryptos. The possibilities of it making profits for its customers seems like a far-fetched idea.
- No Payout proof: Nowhere on any online forums you can find Payout proof from the company. In fact, on the contrary, there are numerous complaints of payment problems.
- No mining details: Any legitimate mining company will have the location of their mining centers, technical details of their mining process and so on. However, the company fails to provide such details.
Speed Mine Conclusion
Speedmine is not a service which people want to be caught up with. There is no legitimacy for an investor to take this company seriously.
More information about the company can be found out on speedmine.net/