How to Identify Bitcoin or Ethereum cloud mining scams or frauds?

by Paycent Pay Paycent Cards

The entire mining industry is filled with scams and frauds. There is no exception to the Bitcoin, Ethereum, or any other crypto currencies. There is a wide array of ways that can steal your hard earned cash and you feel like a fool. Starting from scam coins, mining rigs to scam contracts a number of things can take place, you won’t even realize before you lose out all your earnings.

So, the question that arises is how can you identify or recognize a Bitcoin scam. In reality, this is quite a difficult task for anyone to know about it. Furthermore, the scam artists are also becoming quite smart and wise in their endeavours. There are several companies where you can find a list of verified cloud mining contracts and coin mining. In case, there is any doubt on the Bitcoin mining service provider, evaluation is done, and if found guilty, the cloud mining contract won’t appear on the list.

The list of only those service providers or companies will be there who have decent track record existence. In fact, doubtful reports about companies will also be put up on the community forums. But, it also becomes essential that you are careful and cautious enough of such comparison sites who often play from the scammers’ ends. Often it has been found that such sites, don’t hesitate to advertise wrong information favouring the scammers because they earn a percentage of it. They absolutely don’t mind or worry about the users who depend on such comparison sites.

The market of cloud mining has emerged quite popular. The prime reason is that individual miners find it quite expensive to handle the mining rigs all by themselves. Such a move has definitely attracted the scammer. Henceforth, in the last few years there has been the emergence of a wide number of fraud or scam cloud mining sites that provide mining contracts for crypto currencies like Bitcoin and Ethereum and other forms of Alt coins.

It has been found that despite the industry, the scammers always step up their game to stay ahead of those who are keeping an eye on the whole event. It becomes such a challenging task to get any proof for Bitcoin cloud mining scam. This is because it is spread across the geographical boundaries.

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Created on Sep 11th 2019 09:30. Viewed 489 times.


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