Categories: EducationScams

Bitcoin Scam Site Warning – Soft-Mining

Cloud mining scams are plentiful in the bitcoin and altcoin world these days. Many companies claim users can make an investment in exchange for daily returns, although most of these platforms eventually run off with consumer funds. Soft-Mining falls into the category of cloud mining scams, as it is not hard to see why the company will not be around for very long.

Soft-Mining Will Take Your Money and Run

It has to be said, the Soft-Mining website looks anything but professional. The main page is blue-and-black themed, yet it appears to be a very cheap template. The information is presented in a cluttered manner, which does not instill any confidence as to what this “company” is trying to achieve.

To be more specific, Soft-mining claims they will let users mine Scrypt altcoins in exchange for making a small investment. However, the company never specifies which coins are being mined, which is somewhat disturbing. Moreover, there is no evidence of this company owning any mining hardware to begin with, which only fortifies the claims of how Soft-mining is a pure scam.

What is even more troubling is how the company does not disclose which investment plans customer can choose from. To find out more details, users need to register an account first, which is anything but professional. It is vital for these types of companies to be upfront about what investors are getting themselves into before even making a deposit. For some reason, this company decides not to do that, which will turn off a lot of people.

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As one would expect, there is a profitable affiliate program as well. Soft-Mining allows users to earn 5% affiliate commission for every person they bring to the platform. Considering users do not even need to be a paying customer to receive affiliate bonuses, it is evident Soft-mining is only paying its users as long as more money keeps coming in. Once the funds dry up – and it eventually will – payouts will stop rather quickly.

Interestingly enough, Soft-Mining has some actual reviews up on the website. None of these reviews should be taken seriously, though, as they are all fake and designed to trick more users into investing. It is rather intriguing to see a cloud mining scheme go through these measures, although it does not help validate any of their claims by any means. These “proprietary” reviews should always be taken with a grain of salt.

There s no company information on the website, although the WHOIS information reveals some interesting details. Apparently, the domain is registered to Steve Bacon. Moreover, the WHOIS info reveals the domain owner lives in the United Kingdom, which is not surprising by any means. It appears most of the cryptocurrency scams are registered in the UK these days, and Soft-Mining is no different.

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JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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