Antminer.bid Review – Legit exchange or SCAM?

AntMiner.bid is a cryptocurrency exchange. not to be confused with Bitmain Antminer.  They are unregulated and the amount of information put up by them is not enough.  The list of problems does not stop there. They have not featured any contact details.  

Even, the details of their creators or employees are unknown. This exchange is operational for around 3 months as of November 2018.  

It does not have any feedback from the users on any of the most popular forums. Read our full review wherein we showcase you the way this exchange works and to find out, whether you should avoid them or not.

License and Support

In the past few decades, the amount of scams are on a record high.  Regardless of the measures and precautions taken by central authorities, scams still exist.  

One of the easy way to avoid these kind of pitfalls is by choosing to deal with licensed entities only.  AntMiner is an unregulated exchange which is being operated from the shadows.

If something unethical practises are found on their platform, then the chances of getting your money back is very slim.  Moreover, you cannot even sue them.

Most of the cryptocurrency exchange provide exceptional customer support as it showcases their level of commitment.  This platform miss out on that.

The only way to reach the support staff is through a contact form buried inside their website.  If they were truly concerned about the wellbeing of the clients, then why are they hesitating to provide telephone and email support?

How does AntMiner Work?

The way this platform works is simple.  The user has to enter the wallet address of the base currency and the desired currency.  Once, these information are entered, you just have to enter the amount value.

They have not stated the time required from their side to process the exchange.  Moreover, we do not know the fees they charge. It all sounds easy but here’s the kicker.

They state that they take anywhere from 1 minute to 10 minutes to process the transaction.  By chance, if they fail we do not know what the protocol is.

Furthermore, know that once the transaction occurs, it is impossible to reverse them, which means again you have to pay the fees.  Currently the maximum amount of exchange is capped at $50,000.

Referral Program

Just like many exchanges this one also features a referral program.  Any individual who refer people to this service will get paid for their efforts.  Anyone who has a blog or some kind of platform which gets consistent amount of traffic can sign up to be an affiliate.  

Promoters gets 10% of the value of the exchange, which basically means that the incentives are on the higher side. Also, it is not compulsory for the affiliate to hold an active account.

Domain Popularity

We have gathered the information about this site below with the help of whois.com and alexa.com.  However, we could not trace the identity of the owner.

Domain – Antminer.bid

Registered On – 01/08/2018

Expires On – 01/08/2019

Alexa Global Rank – 3,730,165

Rank in Iran – 65,479

AntMiner Review Conclusion

All the unregulated exchanges are not scams, but most of them are.  Considering the amount of potential risk involved, it is better to stick with regulated exchanges.  Moreover, the level of anonymity embraced by this platform is far beyond the acceptable standards.

Many people get confused seeing the name Antminer which is a product from Bitmain.  However, that is not the case. Bitmain is a legitimate solution, but this platform just operates under the name of Antminer.  There is no connection between these two.

Have you tried AntMiner?  Share your story by commenting below.