Multiminer Review (Multiminer.website) – Potential Scam!

Multiminer is a new cryptocurrency mining solution which claims to earn more than 200% returns on a yearly basis. If you are a crypto fan with sound knowledge of the way the blockchain works, then you can already tell that, their claims are false.

Moreover, these crooks advertise their platform as a risk free investment vehicle. During our investigation, we weren’t able to trace out the details about the owners of this firm which is a huge red flag.

We all know that making money passively sounds interesting, but before you indulge with them, go through our review to understand the reality behind their scheme.

Company and Customer Support

All the firms which deal with raising money from the public have to be regulated. In the modern era, since online investing niche exploded, many fraudsters have plagued the industry and have caused immense losses to the innocent newbies.

It is the duty of every investor to make sure that, every broker or exchange they deal with is regulated so that no malpractices take place. This platform claims to be operating legally from the UK. However, we couldn’t find any details about them on the FCA.

So, without a shadow of doubt we can say that, they are bluffing about their legality and are bound to get caught very soon. Moreover, to maintain their anonymity they interact with the clients only through email.

Ask yourself, have you seen any firm operating so mysteriously? Isn’t the lack of transparency the first sign of a scam?

Multiminer Operational Model

Multiminer’s main business revolves around the world of Bitcoin mining. If you are a newbie in the crypto sphere, then the chances are you might believe their false narrative. However, if you dig deep, the things will turn nasty very quick.

For starters, they haven’t disclosed any details about the physical location of the mining farms. We do not have a clue about the equipment they use and the rate of return it produces. Without working out all these numbers, it is impossible to justify investing into mining.

On top of all that, even the details about their employees or owners are still a mystery. With these many red flags, we recommend all our readers to stay away from them, because at the end of the day you will be the sole loser.

Investment Plans and Profits

Getting involved with mining was perhaps the best venture for retail investors a few years back. Nowadays, the competition in the sector is so fierce that, unless you have strategic infrastructure, it is impossible to make money.

On top of all the fundamental factors, remember that the price of the underlying asset also has direct relation to the net profit you make. Moreover, mining is advertised as risk free investment opportunity in many cases, but that is just an unethical way of luring newbies.

Check out the plans offered by this firm, remember that it’s way too good to be true.

Affiliate Program

Since we have already mentioned that, this firm has nothing to do with mining. At the end of the day, the amount of money they make is relative to their clients. So, to reach more people in less time, they leverage the affiliate program.

Any promoter who has access to consistent web traffic can make money by diverting them to this platform. In short, all the shady marketers are just creating fake content and reviews for the sake of commissions.

Be very cautious if you come across any channels or websites promoting them and never make the mistake of buying into their hype. The only thing we can predict about them is that they will do anything to convince the public into depositing with them.

Domain Insight

Below are the general information of their website. Source – Alexa.com, Whois.com.

Domain – Multiminer.website

Registered On – 11/03/2019

Expiry – 11/03/2020

Global Rank – 105,549

Rank in Angola – 707

Target Audience – Angola, Philippines and Iran

Ponzi Operational Model

Every business needs a constant cash flow to process the withdrawals smoothly. On this platform, the cash flow is generated by using the deposit amount brought in by the new victim to pay the old ones while keeping a percentage on top of it for themselves.

Since their model is flawed, it will crumble at some point in the future and take down everyone with them. Their true skill is not in mining, but is in finding new participants for their scheme which will eventually fall.

The bottom line is that, even if they pay some clients, it is still not considered as legal and it is better to stay away from them.

Multiminer Review Conclusion

Multiminer is a clever ponzi scheme which is operating using a false narrative around the world of cryptocurrencies. There is no proof to back up any of their claims.

Moreover, the mysterious nature of all the people involved fits the typical profile of a scam. In short, never give them your credit card details, because the consequences of interacting with them might become severe.

Have you lost money to Multiminer? If yes, then leave a comment below describing your experience with them.