BitMining.biz Review: Legit? Genuine? BitMining Scam
Bit Mining Review: Find the truth about BitMining.biz scam company here. BitMining is a scam, not a genuine or trustworthy company. Yes, we agree that it may pay a few members but that doesn’t make it legal or sustainable. It will stop paying sooner or later due to which the majority of members will lose their money. Why? Well, let’s find out the answer in detail through our BitMining review here.
Why is the Bit Mining scam? What is BitMining.biz in real?
It is a fraudulent website due to the following reasons:-
# It is a Ponzi scheme which is neither a legal nor a sustainable scheme. Legal authorities have already warned the general public to stay out of the Ponzi scheme due to its unsustainable nature. The majority of members will lose their money in Ponzi scheme and only a few ones who join the system at first will make some few bucks due to which you will find out few people who promote and support some Ponzi schemes.
# We can say it is a Ponzi scheme because it doesn’t have any real source of income to pay profit to its members. It claims to pay high profit like 10% profit daily on the investment amount of members/affiliates by using the money of members in the cryptocurrency mining and trading field. But, it fails to provide proof of the existence of its so-called investment in the cryptocurrency mining and trading field, there's no evidence on that. On top of that, none of the experts in the cryptocurrency mining and trading field can guarantee to pay a 10% profit daily. So, the business claim of BitMining doesn't make any sense and proves itself to be a Ponzi scheme. This proves it doesn’t have any real source of income and only can pay members by routing the money between the members which is not a sustainable business.
# All the Ponzi schemes like this trick people by showing the real payment proofs because they pay few members at starting by routing the money between the members so that they can lure more people into their scheme by showing those payment proofs. However, it is practically not possible to pay all members in that way because when they pay one member, they need to use the money invested by other two members so that they can pay the principle and profit to that one member. But, whenever they pay members in that way, they will create a debt equal to the amount of profit that they use to pay the members. So, even Ponzi schemes like this want to pay all members they can’t because day by day the debt will be kept on increasing and they will not have enough fund to pay all members. That’s why Ponzi schemes like BitMining are illegal schemes.
# It has tried to trick people by showing the company’s registration document registered from the UK Companies House in the name of BITMINING LIMITED. But, don’t fall for that trick. Lots of Ponzi schemes in the past had already turned into scams which were registered from the UK Companies House. Actually, it is very easy to register a company in the UK Companies House by providing the virtual address which you can rent from the virtual address provider services as well as by providing the third person identities. Even you can register a company in the UK Companies House without a big hassle. On top of that, such kind of registration is not the license to run an investment company like BitMining, but just a registration for the tax purpose. On the other hand, there is not any proof that proves BITMINING LIMITED is operating this website.
# Legal authorities have already issued warnings to the general public to stay out of Ponzi schemes like this site. So, if you still don’t believe us, you can ask the legal authorities in your country to check the business of BitMining, then you will find out the reality yourself.
Now you know that BitMining is a Ponzi scheme. So, BitMining is a scam. That’s why we have listed Bit Mining within our “Scams” category which means we don’t recommend you to invest in BitMining.
Actually, these days there are many Ponzi schemes online such as CrypTimeLive, BitStadium, Luxelite, Bitcoinvester, BitCrypWorld, Litenet, BTCJob, UnityInc, CoinGain, WealthyCrypto, GoldenTigers, CryptGlobe, CashGenUK, BTCSmartInvest, BTCMidas, PerfectGoldInvest, eMine, GudCash, UltraInvestments, Bitbpro, OkeyDeposit, BitAtomix, and so on. So, stay away from any sites which show you easy money.
So, don’t go after these kinds of easy ways to make money online. If you are looking for a serious way to make money online, then do your own blogging business. Yes, it may sound difficult, but it is not. These days it is very easy to start your own blogging business by joining renowned training programs like Wealthy Affiliate where you can learn everything about blogging through video tutorials and make money from there. If you want to find out more details, then you can check the detailed Wealthy Affiliate Review by clicking this link:- de-reviews.com/wealthy-affiliate-review/.
You can find the various kinds of scams listed within our “Scams” category by clicking >HERE< or you can navigate our website through our home page to find out the several interesting and knowledgeable articles under different categories by clicking >HERE<.
Please feel free to share something more you know about this company in our comment section below.
Good Luck!
They locked me out of my account and disable it