There is no shortage of cloud mining services in the world of Bitcoin and digital currency. However, it is important to keep in mind very few of these services are legitimate, as most of these “businesses” are nothing more than a glorified Ponzi Scheme. Cldmine is no exception in this regard, as this so-called cloud mining company has no positive feedback to speak of. Users need to avoid Cldmine at all costs, as investing in this company will only lead to a loss of funds.
When accessing the Cldmine, the user will be greeted in their native language. Even though this is a very nice touch, it is also the only positive note to make on behalf of the company. Their service offers users a safe and secure cloud mining service, which will return 1.5% of the original investment per day. Such numbers are not sustainable by any means, and are just the first of many warning signs along the way.
Cldmine is not afraid to offer an incentive so they can lure in unsuspecting investors either. Every new customer will receive a free 1,500 Dogecoin bonus, which is worth next to nothing. But there is more, as every user will get 10 Dogecoin for free if they log in to their account every day. This will add up to large amounts of Dogecoin over time, but keeping in mind how one DOGE is worth roughly 65 Satoshi, no one will get rich overnight.
To make matters even dodgier, Cldmine accepts payments in a ton of different digital currencies. Bitcoin is not even on the list of supported payment options, which is not doing any favors for the credibility of this cloud mining service. A large list of altcoins is accepted, ranging from DASH to Monero and StartCOIN to NXT. A lot of people will have stopped counting the number of red flags by now, but we are not done yet.
Any good Ponzi scheme has a referral program, and Cldmine rewards users with a 15% commission for every referral who purchase a cloud mining contract. This money is then used to pay out existing members, as Cldmine is not generating any money through cloud mining. Thre is no proof of any of their mining hardware, nor do they seem to rent hashpower from other companies. The only statistic provided is their number of users, which seems to be growing exponentially.
Last but not least, there is absolutely no company information to be found on the Cldmine website. This is completely unacceptable for any website dealing with customer payments and cloud mining. Conducting a WHOIS search yields no information either, as all details are protected. None of this instills any trust in Cldmine as a profitable company, and no one should invest any money into this obvious Ponzi scheme.