The Summer is almost upon us and it appears the number of bitcoin cloud mining scams is increasing exponentially. Micro-BTC is another platform – quite similar to Micro Mining – that claims to provide cloud mining services to bitcoin investors. No one should invest their money in this platform by any means, as it offers no proof of its mining capacity whatsoever.
Micro-BTC Can’t Be Trusted
It is not hard to spot the bitcoin cloud mining scams these days, as most programs offer virtually the same experience every time. Micro-BTC is no different in this regard, as it is another one of those cloud mining scams that provides users with a free 15KH/s of mining power as a welcome bonus. This is also a clear indication the company would never mine bitcoin in the first place, but stick to altcoins instead.
Moreover, Micro-BTC also guarantees profits to all investors, which is impossible in the cryptocurrency ecosystem right now. Lifetime profits from cloud mining contracts can never be provided in a legitimate manner. Most mining contracts only run for a year or less, for obvious reasons. Any company claiming to offer an extended period of cloud mining is most likely a scam by default.
The different mining plans provided by the company are not overly spectacular either. Users are mining Scrypt coins at all times, which means there is very little room for profitable cloud mining whatsoever. That said, the company offers packages starting at US$0.31 per KH/s, all the way down to US$0.23 per KH/s depending on how much mining power one looks to purchase. Every plan is also subject to a hashpower bonus, which is very suspicious at best.
What is rather interesting is how the site hosts a camera at their mining farm. When looking at the livestream however, there is no sound whatsoever, and most of the racks visible are completely empty. It is also a still image by the look of things, as nothing is happening whatsoever. In fact, there aren’t even any blinking lights indicating hardware is being put to good use. A nice trick to sway people’s minds, but it is not hard to see through it.
Once again, this is a company providing no credible evidence of their cloud mining operations. There is also no public history of payouts made to users, although that is not all that uncommon. Offering bonus hashrate for customers and guaranteeing lifetime earnings is a clear sign of a Ponzi scheme, though. Additionally, there is an affiliate program in place, although none of this information is listed on the website, as it redirects to the homepage. It is evident the team has not put much effort into building a credible website for Micro-BTC whatsoever.
To make matters worse, Micro-BTC lists no public information regarding the company’s address, staffers, or registration number. It seems this company operated out of the UK – or claims to do so – based on the WHOIS information, which is also handily hidden from prying eyes. There is no reason to invest in Micro-BTC whatsoever unless you enjoy losing your bitcoin balance to scammers.
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