StartMiner, found online at StartMiner.com, claims to be a leading bitcoin mining pool. Find out if it’s a scam or a legitimate investment today in our review.
What Is StartMiner?
StartMiner promises to make it easier than ever to begin mining cryptocurrencies. You pay the company, and you’ll receive a cut of all mining proceeds collected by the company.
StartMiner seems like a legitimate mining company at first glance. However, it doesn’t take much research before you find some shady things about StartMiner.com. The company pays out ridiculous affiliate bonuses of 30% to 40%, for example, or even 100% on the highest plan. The platform also guarantees subscribers a certain amount of earnings per day.
Typically, legitimate mining companies will guarantee hashrate – they won’t guarantee specific earnings or ROIs. Earnings vary constantly based on difficulty. Furthermore, StartMiner promises earnings that are absolutely ridiculous – like getting a positive ROI after just 4 days of your mining contract.
Let’s take a closer look at how StartMiner works to see if it’s really a scam.
How Does StartMiner Work?
You buy into StartMiner at one of four different investment levels, including:
- 0.0002 BTC per day
V1.1 (0.01 BTC)
- 30% affiliate bonus
- 0.0014 BTC per day
V1.2 (0.01 BTC)
- 40% affiliate bonus
- BTC per day
V1.3 (0.3 BTC)
- 50% affiliate bonus
- 0.05 BTC per day
V1.4 (1 BTC)
- 100% affiliate bonus
- 0.25 BTC per day
Obviously, you’ll notice something suspicious about these plans immediately: you’ll make a positive ROI in just a few days on every plan. On the free plan, you’ll make instant money for free with no work required. Nobody is just going to pay you money for no reason – especially on the internet. And most mining contracts don’t pay a positive ROI after months of mining – not to mention just a few days.
Ultimately, if someone had an investment opportunity where they could make 0.25 BTC per day in exchange for a 1 BTC buy-in, then they would probably keep such a lucrative investment to themselves. We can’t find any type of mining operation that offers payouts anywhere close to what’s promised by StartMiner – which is why it’s easy to spot this scam from a mile away.
How Does StartMiner Really Work?
StartMiner works similar to every other bitcoin mining pyramid scheme or multilevel marketing scheme. You pay a fee to join the company. Then, the only way to earn profit is by recruiting other people beneath you. The pyramid continues to grow until no more members are recruited, at which point the whole thing collapses.
This appears to be how StartMiner operates. The company provides no proof of any real mining operation. There are no products, services, mining rigs, hashrates, or other information listed on the official website.
The company’s lone business model appears to be selling memberships. That’s the only way it makes money. StartMiner aims to entice customers with promises of enormous ROIs, while users have little chance of ever withdrawing their profits.
Who’s Behind StartMiner?
The official StartMiner website claims that the website launched 377 days ago, and members have been paid millions of dollars in profits.
Unfortunately, WHOIS data shows us that the StartMiner.com domain was only registered in March 2017. The first reports of StartMiner started to appear online in April 2017.
The official website doesn’t list any information about the company – like who’s running the company, where it’s located, or why they’re qualified to run an investment company. The website appears to list a real address in London (20-22 Wenlock Road), although we can’t find any proof that StartMiner is located at that address.
Meanwhile, a quick Google search for StartMiner shows that bitcoin users have been calling the platform a scam for months. Anybody who tries to claim the company is legitimate is most likely trying to recruit you to their pyramid scheme.
As if you needed another red flag, the StartMiner website has the official Bitcoin.com logo, Coinbase logo, and Local Bitcoins logo spread prominently across the page – despite the fact it has no affiliation with any of these organizations.
If someone asks you to send them money online, but refuses to disclose anything about themselves or their identity, then you’re probably being scammed – especially if they’re requesting payment in bitcoin.
StartMiner is a blatant bitcoin scam that makes ridiculous promises about its ROI. The company claims that if you pay them 1 BTC today, for example, they’ll pay you 0.25 BTC per day, every day. Everything about StartMiner is a red flag – from the illegal use of company logos at the bottom of the page to the ridiculous earnings promises. In reality, this is just another HYIP scheme or pyramid scheme that will continue operating until it’s collected enough money from users, at which point it will shut down and take everybody’s earnings.
To learn more about StartMiner, visit the website online today at StartMiner.com.