99Mining.cloud Review

99Mining.cloud is a Bitcoin mining pool that promises to provide an easy way for anyone to get started with mining. Recently there has been a huge misconception about the legitimacy of this firm, and many forums are somewhat neutral about this aspect.

This service has been active for more than a year as of September 2018, and the number of complaints against them clearly shows what type of reputation they have. Join us in this detailed review, where we will be going over certain facts which prove that they are a fraudulent service and the reasons to stay away regardless of what type of returns they claim to provide you.

License and Contact Details

99Mining.cloud is an ICO wherein they issue contracts based on the investment amount promising the clients a certain amount of profits and using the funds to expand the mining operation. As the operational model of their business is a type of financial service means that they have to be regulated, failing which all the people running this firm will have to face criminal prosecution.

We thoroughly checked the FCA website for any details about this firm, but we were unsuccessful in our attempt which proves the fact that they are operating in an illegal manner. Do not get confused seeing the registration details they have put up on their website, as it is done deliberately to intrigue simpletons and appear reliable to the masses.

A registration certificate by no means can justify the kind of activities they are conducting. The contact details provided by them in case you have any queries for them are:-

Phone – 09951039

Address – 20-22 Wenlock Road, London, England, N1 7GU

How does 99Mining.cloud work?

This company is a typical cloud mining service. They own mining farms and scale up their operation gradually over time to maintain a healthy profit margin. Our main concern about this platform is that they have not revealed enough details to instill confidence.

They have completely skipped over providing the detailed list of equipment they use, the maintenance fees they incur, the exact margin of profits, and the location of their farms. Without knowing the above-discussed basic details, how on earth can anyone access this service?

Further, the returns they promise are on the higher side, but we believe that high return claims are just being used as bait to captivate the visitors’ attention and rob them eventually.

Mining Plans

The major center of attraction for this company is that they provide a free mining plan. Once the payout threshold is reached, any person can withdraw them but just know that many platforms offer free plans, but they take an awful amount of time to see any results.

Apart from the free plan, there are 4 paid mining plans which are

V1.1

• Cost – 0.01 BTC
• Earning rate – 0.0001728 BTC Daily
• Affiliate Bonus – 30%

V1.2

• Cost – 0.1 BTC
• Earning rate – 0.001728 BTC Daily
• Affiliate Bonus – 40%

V1.3

• Cost – 0.9 BTC
• Earning rate – 0.01728 BTC Daily
• Affiliate Bonus – 50%

V1.4

• Cost – 5 BTC
• Earning rate – 0.1728 BTC Daily
• Affiliate Bonus – 100%

Affiliate Program

All the fraud investment firms offer huge incentives for marketers to lure in the maximum number of people. The relationship between the revenue of the firm and the number of participants involved is axiomatic.

The commission rate an affiliate earns depends upon the contract purchased by their referrals, ranging from 30% to 100%. Think logically how can they or any legitimate solution offer a 100% bonus unless their main source of income is unaffected?

Domain Whereabouts

According to whois.com, this domain was registered on 17/06/2017, and it expires on 17/06/2019. The registrant details are unavailable as the people running this service use privacy protection services.

From the data based on the information provided by Alexa.com, we know that this website ranks 23,439 in Iran and has a global rank of 262,775. This site gets roughly more than 200,000 unique visitors a month, and the countries where the majority of their traffic originates from are Iran, India, Greece, Pakistan, and Indonesia.

Is 99Mining.cloud a scam or legit?

This company is an undeniable swindle,

Over time, every company will get feedback from the customers, which will help the general public to know what they can expect if they sign up with them. Here is what a user on Beermoneyforum is saying about their service:-

Most of these sites asking for maintenance fee will only succeed with members who are not aware of scam tactics of mining site cos i can imagine I have money to withdraw and you asking me to pay a fee externally why not deduct it from my money in the wallet. Thanks for updating us@ mahfuz

The real user testimonials are very daunting indeed.

On July 22, 2023, we received the following complaint from a person who reported losing $910,000 (!) for this scam:

The website www.99mining.cloud does not exist!

99Mining.cloud Review Conclusion

As cryptocurrency grows in popularity and achieves mass adoption, there will always be fraud operations perpetuated around them, as many people still do not know much about them but still want to try their hand.

Unless you are familiar with the fundamentals of blockchain, do not be eager to accept any offer regardless of what returns one might advertise. At the end of the day, it is your money, and you should be careful about how you manage it.

Have you been scammed by 99Mining.cloud? Let us know your opinion by commenting below.