Legitmining.website Reviews is Legit Mining a Scam or Should I Invest

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Power-miner Review: Scam or Legit Mining and Wallet?

Power-miner Review: Scam or Legit Mining and Wallet?


Last Updated: Dec 1, 2020 @ 9:45 am

Power-miner claims that it is the most secure Crypto currency cloud mining service on the internet. The service was created in November 2020 and is being promoted using Google ads to try reaching customers and getting the attention of the cloud mining community in general. Is Power-miner legit or a scam? This is the question that majority of people out there want to know.

Since Power-miner is a brand new operation and there are no user reviews yet, we can confidently say that nobody has used their service and if we are looking to analyze it, we must take the risk by testing the service. While most of the time we go an extra mile to take the risk for the sake of writing this review, there has been an increasing number of similar websites claiming to mine Crypto currencies for their customers. Testing all of them would be hectic, but if they resemble each other in the way the presentation is made, we can always make accurate judgement concerning the site most of the time.

Since this is a relatively new site and its reputation is unknown, we advice that you sign up with these mining platforms until Power-miner can prove its worth. We hope they’ll do it soon now that they have already embarked on an aggressive marketing campaign which will see many clients knocking their doors in the next couple of months.

Power-miner Review

They claim that mining rigs have already been set up and are running. When we sign up for any plan, we instantly gain access to these plans and so mining can start immediately. We can’t verify how safe the site is at this time because even the best Crypto currency sites still get hacked. This is no exception.

The site also claims that they have the fastest mining hardware and are even encouraging us to utilize their service rather than resting with noisy miners at home. While there is some sense in what they are saying, they don’t really elaborate on the specifics behind this operation such as which type of miners they are running, location of these mining hardware and the owners of the operation.

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This can only mean that Power-miner is either not telling us this information because they are secretive or they do not actually have any mining facilities. Their about us section comes across as too generic to boost our trust on this service. They are also listing down some 6 supposed advantages of using Power-miner. These include Instant account opening, instant withdrawal, detailed statistics,investment planning, coverage by insurance and fast and efficient Crypto transactions. What caught our attention was the mention of coverage by insurance. This is unheard of in the Crypto currency investment industry due to the high risks that are associated with this form of investing. This feature is therefore a big fat lie because the site cannot truly insure your investments with them.

Investment plans

There are 4 investment plans in total. These include Beginner, Intermediate, Advance and Superior. For a minimum investment of 0.005 BTC, we can purchase beginner plan where we access 0.25 TH/s of hash power and a daily return of between 0.3-0.8%. Average annual return is estimated to be 200%. This means that the service is claiming to have the ability to double your investments in one year. While the daily profits look real, they still appear to be on the higher side and the estimated 200% annual return does not look real.

For 0.05 BTC, we get enrolled into the Intermediate plan and we get 2.5 TH/s of hash power. ROIs are the same as in the first plan.

And for 0.2 BTC, we get enrolled in the advanced investment plan. We get 25 TH/s of hash power and returns remain the same. Lastly, there is the ultimate mining plan which costs 0.5 BTC and is giving 250 TH/s of mining power. Despite investing in this amount of hash power, Power-miner still wants us to believe that we will make the same returns as the basic plans. This is quite confusing because the more we invest with the project, the higher the returns. But with Power-miner, they are giving the same returns regardless of whether you invest a lot or a small amount of money. The math behind it is not understood.

Ownership details

Power-miner was privately registered in November 2020 and they can be reached on [email protected] The details of the company behind Power-miner can be found on this directory. However, it does appear as if the people whom they list on their site as the operators of the mining firm are not real. At least their names can’t be verified in the link which we have just give you.

There is lack of transparency here, which makes the site even more suspicious when you consider the fact that it is a brand new site.

Can we trust Power-miner?

It’s hard to trust new sites when they are created anonymously. Even if we wanted to, we would still find it hard because there are certain red flags which we are not willing to ignore. Ownership info pertaining to this site cannot be established and secondly, there are no user feedback or reviews concerning the site. It is therefore not clear whether or not the site is paying.

This means that we will have to wait until at an appropriate time when reviews will start to come in. We can find out what customers are saying when the site appears on hyip monitors.

Our best advice for you

You need to take precautions because not every new site that claims to mine altcoins is actually participating in mining. This site has not talked about their mining rigs, plus they are a very new site, and care should be taken when approaching them with the intention of sending money. Power-miner has not established their reputation yet. That’s why you need a lot of patience here. In the meantime, we are encouraging Crypto currency mining enthusiasts to mine with these sites. They are the best you can find on the internet.

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60 Replies to “Power-miner Review: Scam or Legit Mining and Wallet?”

H***o sir i have invested in power-miner and am earning also it has really gave me a withrawal so maybe it is not a scam

hey Rishi can you describe about it

E verdade não abre mais Ravi

How many times have u withdraw…when u withdraw till the 4th time u will be eased ….is not a one year contract. ……is scam

Yes it is i have proof. I wrote long experience i had where i sent .1 bitcoin($1000usd) and recieved nothing in return. I couldn’t call because on the address on the first part website is fake if reviews on utubs are correct. They have a circle with phone on it. I thought I could click on it and call(very not true). So when I receive nothing i started searching tabs on page. I click purchase and than transactions(new) and i see where i paid for silver package which is .1 bitcoin. And its all there. I screenshot it. Than i look everywhere cause It says that you can start mine instantly after you buy the package and the package is one year long the contract it also said something about insurance so I messaged him earlier asking about the insurance if they could send me a link. “Power minor responded saying that’s funny.” I replied “Why is that funny”. P.M replied “No one’s going to give you that information”. Which i replied”Why would I buy something that advertises it has insurance but refuses to tell you anything about that insurance”. I should’ve stopped right there and not purchased it but I did. So once again I paid .1 btc, It was in their transaction tab but I couldn’t find anywhere to claim it. So I went back to the only place that I could figure out to communicate with So I went back to the only place that I could figure out to communicate with them, and ask them why I haven’t got any thing so i could do what they advertised and “instantly start mining.” “Power minors live chat responded that they didn’t receive the .1 btc, that I had to send the .1 again. So I checked my Coinbase wallet and sure enough .1 was taking out and sent. So I asked them again that I want my point one BTC back before I sent them another .1BTC since my coinbase wallet and there transaction showed I did. Power motor chat continued to call me a l*** and that l*** were coming out my mouth and that they were going to block me if I didn’t do what I needed to do I asked him what that was and they replied send it again. I responded let me get a hold of a coin base and see if that sounds legit to them. They responded that coin base wouldn’t know that since the money I sent them was just hanging in the air because they were upgrading their system so they said that after I sent another .1 bitcoin that they would refund my money back. I responded they said they couldn’t refund my money back because they didn’t have it I never heard of Bitcoin hanging in the air after sending it to a wallet and I replied that they rip me off because I went to google after this and saw all the responses. For the record I want everyone to know I screenshot it everything from my conversation with then, to the transactions where power mine are responding that I was a l*** and that they could sue me for l****. And I had 12 hour to do what was needed, which I asked what did I need to do. Which once again was to send it the money and then I was in and I guess it just made mysteriously falls out the air when they claim they didn’t have it, and then once I sent them another .1 bitcoin they would refund my .1 btc. And I suppose the comments that felt like a threat that they would block me in 12 hrs if I hadn’t sent the btc. So once again I haven’t received anything they haven’t came through with what they claimed that you will be able to mine after you pay for it instead they lied to me and told me that it didn’t go thru even though I sent pictures proving from their website the info of me sending them that bitcoin and picture of my Coinbase account showimg I sent that BTC to them. I refused to send any more money till I was refunded. This is what I have to say to you at http://www.power-miner.com or whatever site you are at “Give me my money back I will not send you any more money I’m not scared by your threats if you think you can Sumie come on because I got proof that you are the l*** and that you are ripping off hard-working people and talking crazy to people on chat lines. If anyone can give me a link to where I can sue them and get my money back or really expose them for the scam that they are. Stop stealing Power miner. The light always exposed the imposters, karma B****. I have the pictures of your intimidations you attempted that I guess you though would scare me to send you more money for you to steal. If anyone can point me in right direction to really expose them and receive my money back.

Ask them to withdraw your funds and, if they refuse or insist on depositing more funds, you must file a chargeback with your bank or open a dispute with PayPal according to the payment method, then report the case to the local police.

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IQMining.com Review

General information about IQMining

IQ mining is the cloud mining service that was founded in 2020 by a team of presumably Russian developers, though there is no clear information about the team on the website. There is only one video clip that features an engineer whose name is George Virsky.

He makes a video presentation in Russian that is why we have presumed that IQ mining is a Russian company or at least founded by Russian crypto enthusiasts. The video presentation itself is not really impressive, as it displays only a part of the farm and only a single member of the team, George himself.

If you liked video – share it:

The website states that IQ Mining cooperates with data centers which are located in Canada, Russia, Iceland, Georgia, Algeria, and China. The central office of the company is registered in the Seychelles, which was obviously done for tax avoidance purposes.

The About Us section of the website states that the members of its team come from different scientific fields, but it doesn’t disclose their personal profiles. Remaining services are provided by IQ Mining corp., a company which did not feature in any other known projects.

All in all, there are no definite proofs that IQ Mining possesses the equipment and it is very unclear who stands behind the company.

Company address:

Suite 10 Premier Building, Albert Street, Victoria, Mahe, Seychelles. (Seychelles IBC No. 199574)
+44 1224 459763

Coins and Algorithms:

For SHA256: You have double ID
7d 24h 1h
” style=”color:#4d4d4d”> Bitcoin
For Scrypt: You have double ID
7d 24h 1h
” style=”color:#4d4d4d”> Litecoin
For Ethash: You have double ID
7d 24h 1h
” style=”color:#4d4d4d”> Ethereum
For Equihash: You have double ID
7d 24h 1h
” style=”color:#4d4d4d”> Zcash
For X11: You have double ID
7d 24h 1h
” style=”color:#4d4d4d”> Dash

Services Provided

The company website claims that every purchaser of their mining contract will receive 50% return on his or her investment. It is a rather bold statement, considering that the price of cryptocurrencies is constantly fluctuating, and the difficulty of mining is increasing.

The website also has a calculator, which shows that an average-sized investment of approximately $1,000 will bring around 16% of profits per day. Frankly speaking, such big returns are rather unrealistic. The majority of cloud mining services which have proven their trustworthiness, offer no more than 2 to 5% of daily return on investment.

IQ mining also states that they have unique software that allows mining of not only Bitcoin but also the most profitable coins at a given period of time. Apparently, you can’t manually switch between altcoins in the process of mining, like you do with the Minergate service. The software decides by itself which altcoins to mine and then converts them to Bitcoin.

The similar reward scheme is used by Nicehash, so IQ mining claims the profits they generate per each H/s is roughly 3 times higher, compared to other mining services.

IQMining provides means for mining the following top cryptocurrencies:

    You have double ID
    7d 24h 1h
    ” style=”color:#4d4d4d”> Bitcoin You have double ID
    7d 24h 1h
    ” style=”color:#4d4d4d”> Litecoin You have double ID
    7d 24h 1h
    ” style=”color:#4d4d4d”> Ethereum You have double ID
    7d 24h 1h
    ” style=”color:#4d4d4d”> Zcash You have double ID
    7d 24h 1h
    ” style=”color:#4d4d4d”> Dash

Frankly speaking, the overall concept of “profit optimization” which is employed by IQ Mining and other similar cloud mining services is a bit misleading in its essence since it is a generally known fact in the crypto world that the price of all altcoins is pegged to the price of Bitcoin to some extent. In other words, when the price of Bitcoin goes down, the price of almost all major altcoins also plummets.

There are certain exceptions, thought the price difference is not very significant and tends to even out with the price of Bitcoin. Therefore, if the cloud mining service doesn’t offer you an opportunity to manually pick the altcoin you would like to mine, then such ‘profitable’ offers are no more than a mere marketing stunt.

The software that QI mining presents as its distinctive feature is not innovative. NiceHash mining offers are based on the same scheme, while Minergate provides a choice of what altcoin to mine.

�� Fees and Pricing Schedule

IQ mining offers three types of contracts: bronze, silver, and gold.

All contracts employ the script algorithm miner. The price of 1 MH/s under bronze contract is $5; the owners of the silver contract will have to pay $4 per MH/s, while the buyers of the gold contract will enjoy the lowest price of $3 for 1 MH/s. Compared to other cloud mining services, these prices are more than reasonable, not to say cheap.

IQ mining also claims that they offer low maintenance fees due to the availability of smart contract with data centers. For instance, the maintenance fee under silver contract is just $0.003 per day. You can buy as little as 1 MH/s for $5, though the expected profit will also be the pathetic $7. The most expensive contract available at IQ mining is worth $30,000 for which you can buy 1000 MH/s.

There is a rather convenient revenue calculator on the website where you can input the exact amount of MH/s you would like to purchase and you will immediately see the expected profits. Certainly, these calculations don’t take into account the possible increase in mining difficulty and price fluctuations.

There are no mentions of special offers, welcome bonuses or referral programs on the website.

Overall, the pricing on IQ Mining seems to be suspiciously low, while the promised return on investment is unreasonably high.

Bitcoin cloud mining price:

  • 10 GH/s = 1$ (Bronze)
  • 10 GH/s = 0.8$ (Silver from 3000 GH/s)
  • 10 GH/s = 0.6$ (Gold from 30000 GH/s)

Litecoin cloud mining price:

  • 1 MH/s = 3$ (Bronze)
  • 1 MH/s = 2.8$ (Silver from 300 MH/s)
  • 1 MH/s = 2.6$ (Gold from 3000 MH/s)

Ethereum cloud mining price:

  • 100 KH/s = 2$ (Bronze)
  • 100 KH/s = 1.8$ (Silver from 30000 KH/s)
  • 100 KH/s = 1.6$ (Gold from 300000 KH/s)

Zcash cloud mining price:

  • 1 H/s = 1.8$ (Bronze)
  • 1 H/s = 1.6$ (Silver from 300 H/s)
  • 1 H/s = 1.3$ (Gold from 3000 H/s)

Dash cloud mining price:

  • 1 MH/s = 3$ (Bronze)
  • 1 MH/s = 2.8$ (Silver from 300 MH/s)
  • 1 MH/s = 2.6$ (Gold from 3000 MH/s)

IQMining User Experience

The IQ mining website has a decent minimalistic design and user-friendly interface. There are no wordy explanations of all the details of their operations, everything is kept uncluttered and comprehensible, which is a plus for the inexperienced miners but, at the same time, unconvincing for those who know a thing or two about cloud mining services.

The website content is translated into four major European languages (English, Russian, Spanish, and French).

There is also an easy-to-use calculator of expected profits.

The sign-up process is easy, you don’t need to verify your identity; only your name, surname, and telephone number are needed to create account.

✔️ Advantages:

❌ Disadvantages:

Suspiciously high profit forecasts.

Overall Conclusion

IQ Mining seems to be not overly credible since the website contains very little information about people who stand behind this company. The fees are pleasantly low and the promised profits are suspiciously high. Their distinguishing feature – the smart mining of altcoins – is appealing, though it is not unheard of in the market; there is no clear explanation of how it actually works.

Generally, IQ mining is suitable for small ‘try-out’ investments of no more than $100 – serious money should be invested elsewhere, at least until the service gains more credibility.

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