BitMiner Review – Ponzi Scheme Exposed!

BitMiner is one viral and nasty HYIP scam that has spread its lies and deception throughout cryptocurrency. Hosted at bitminer.io, this free Bitcoin mining pool is essentially the sister site of StartMiner, which we have previously exposed as a Ponzi scheme. By learning all the concealed facts behind this Bitcoin scam throughout our real BitMiner review, save yourself from the inevitable agony and frustration you would have suffered.

What is BitMiner?

BitMiner is allegedly a Bitcoin mining pool that offers its service for free. Having mined over 3,109 Bitcoins since they launched 422 days ago is quite an astonishing feat of Bitcoin mining to claim. Asserting itself as the “ultimate mining pool,” BitMiner offers four premium memberships in addition to its free version.

Due to its simplistic nature and design, BitMiner has shown remarkable longevity for a cryptocurrency scam due to its ability to fly under the radar. As we briefly touched upon above, BitMiner is essentially a clone of StartMiner, which we concluded, with evidence, to be a Ponzi scheme. So, how has BitMiner managed to survive as long as it has? Perhaps that can be attributed to the affiliate program that the creator behind this scam emphasizes throughout the webpage. Like with StartMiner, more emphasis on drawing traffic and deposits are conducted than actual Bitcoin mining itself.

Operated by the same company as StartMiner, this site is run by the company known as Bitminer Cloud Eu LTD. The registered office address of this company is 20-22 Wenlock Road, London, England, N1 7GU, while the company number is 09951039. Serving as the CEO of this company is Giacomo Bugini, and as we mentioned in our StartMiner review, the current company status reflected is ‘Active proposal to strike off.’ This means that Mr. Bugini has been unable to pay his company dues, which greatly diminishes the likelihood of receiving payment from this company.

So, in a nutshell, if you have deposited any bitcoins with BitMiner, just understand that the likelihood of you receiving your funds back is about as likely as winning the Powerball. Community feedback, mostly in the form of forum posts, will indirectly confirm this truth for us, as many investors who have put their faith in this service have reported being unable to receive any withdrawals from the site.

Is BitMiner Trustworthy?

Not a chance! Refusing to execute withdrawal requests while the company behind this site is in financial trouble is a serious red flag. Not to mention that this site bears remarkable similarities with startminer.com. In addition, we cannot overlook the fact that this site fits the ideal model seen with most Ponzi schemes. Research shows that early on when bitminer.io was initially launched, the site served as a legitimate mining pool operation. Still, within a few months time, several complaints, mostly lack of withdrawals received, were reported.

As many of you have learned throughout our recent scam reviews, this tactless business model reinforces the idea that the site under investigation is, in fact, a Ponzi scheme. Withdrawal requests were initially dispersed when the site was first created due to copious amounts of new depositors. However, after the steady stream of new depositors slowed down, so did the acceptance of withdrawal requests. This truth alone reinforces the concept that BitMiner is nothing more than another Ponzi scheme.

Membership Plans

The membership plans offered by BitMiner are almost identical to those offered by StartMiner. Bear in mind that this HYIP scam is successful due to the traffic from misleading affiliates and that the membership plans are tailored toward ruthless marketers rather than potential Bitcoin investors. The membership plans are as follows:

Version 1.0

Profit Per Minute: 40 Satoshi

Profit Per Day: 0.0006 Bitcoin

Cost: “Free”

Version 1.1

Profit Per Minute: 80 Satoshi

Profit Per Day: 0.0012 BTC

Affiliate Bonus: 30%

Cost: 0.01 BTC

Version 1.2

Profit Per Minute: 1,000 Satoshi

Profit Per Day: 0.015 BTC

Affiliate Bonus: 40%

Cost: 0.1 BTC

Version 1.3

Profit Per Minute: 10,000 Satoshi

Profit Per Day: 0.15 BTC

Affiliate Bonus: 50%

Cost: 0.15 BTC

Version 1.4

Profit Per Minute: 70,000 Satoshi

Profit Per Day: 1 BTC

Affiliate Bonus: 100%

Cost: 5 BTC

BitMiner Warning Signs

Numerous warning signs are generated from BitMiner. Obvious signs that cannot be overlooked would be how the company cannot pay its financial burdens and how the same scammer behind StartMiner created the site. For more startling warning signs, simply type “BitMiner reviews” into any relevant search engine, and you’ll come across a wide variety of forum posts and articles claiming how investors have been unable to receive their withdrawal.

However, it would be ideal to exercise caution when conducting your own research since many outlets currently endorsing this Bitcoin scam offer misleading and deceptive reviews. As you will undoubtedly learn, most forum and review sites in the Bitcoin niche offer nothing more than ambiguous reviews that result in neither the exposure nor apparent endorsement of this scam. Due to this truth, we advise readers who want to learn the true nature behind any Bitcoin-related investment opportunity to consult our site to learn the facts.

Popularity

According to Alexa.com, bitminer.io has a current global rank of 12,144 with a rank of 3,507 in Brazil, indicating this site is very popular. In April 2017, they were shortly among the 5k top websites, but since then, they have been slowly declining in popularity. Most traffic comes from visitors from Turkey, Brazil, Vietnam, the United States, Germany, India, and Italy.

Approximately 12.5% of visitor traffic is received from affiliated websites such as startminer.com and btcprominer.life, both of which are operated by the same company Bitminer Cloud Eu LTD. Most of the other traffic emanates from misleading reviews, including affiliate links on Google or shady YouTube channels.

Complaints We Received

On August 27, 2023, we received the following complaint:

Mybitminner company is asking me for a deposit every time. How can I know if PoH is legitimate and not cheating me?

BitMiner Review Conclusion

Throughout this unbiased review, we have provided the evidence needed to conclude that BitMiner and its affiliated websites cannot be trusted. Focusing more on the affiliate program than actual Bitcoin mining, the only reason this Ponzi scheme is still operational would be that low-life affiliates earn a significant sum by misleading investors out of their bitcoins. Therefore, we will not advise any investor to partake in this fraudulent Bitcoin mining pool unless you want to suffer significant losses.

Verdict: BitMiner is a SCAM!

Blacklisted site: bitminer.io

Have you fallen victim to BitMiner or one of its affiliated websites? Please share your experience by leaving a comment below!

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