Miningtower.biz Review Is Mining Tower Scam or Should I Invest

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99 Mining Cloud Review: A Bogus Scam It Is

99 Mining Cloud Review: A Bogus Scam It Is

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Last Updated: Sep 5, 2020 @ 7:22 am

In this review of the 99 mining cloud, we are revealing the truth by exposing the happenings behind the curtain. The truth is that this site isn’t mining any Bitcoins in the cloud. If you thought otherwise, you seriously need to read this review and make up your mind.

The paying status of 99mining cannot be confirmed or verified. 99mining.cloud does not disclose ownership information on their site. The admin is totally anonymous.

The domain was updated in 2020 where it changed hands and assumed new ownership. Expiry date is supposed to be in 2020.

The reason we are reviewing 99mining.cloud is because it seems to be a very popular website.

With an Alexa ranking of half a million and with most traffic coming from the United States, we can only imagine the number of people losing Bitcoins here every hour.

The site is offering 4 investment plans. The first plan V 1.0 is offered for free where investors can earn 0.0000576 every day. In just one month, this would be 0.001728 Bitcoins.

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The second investment plans is dubbed V1.1. Investors could earn 0.001728 of Bitcoin per day.

The third package is called V1.2. This package gives the same daily returns as V1.1. This is also the same as V1.3 ad V1.4.

The difference between these 4 plans is in the affiliate bonuses and the minimum deposits needed to purchase a plan.

To this end, 99mining looks very lucrative especially with the free plan. The question you should ask yourself is whether the site is really paying out the funds.

If you don’t have an answer, then this 99mining will provide you with insights.

99mining Review: Is it scam?

The site is boldly claiming on their sales page that they are the best bitcoin mining pool on the internet. That is a self-proclaimed statement which no one can confirm because the most popular cloud mining sites for Bitcoins, Ethereum, Dash, Litcoin are well-known. 99mining is not one of them.

To earn more from this site, all you are required to do is upgrade to a premium plan.

Affiliate bonuses start at 30% all the way to 100%. This begs the question of why this site is giving 100% affiliate bonuses.

Common logic should make us question that if affiliates are rewarded 100% for each referral in the V 1.4 package, how exactly is 99 mining cloud making money from the referral?

It is not possible to give 100% of member deposit. The reason this site is making such a claim is because they know that they won’t pay. It costs them nothing to make such claims since they don’t feel obligated to be responsible for their promises.

From the word go, we said this is a scam. There are more concrete evidence yet to come.

99mining Cloud Review: data centers don’t exist

These data centers do not exist. Plain simple. If they did, 99mining would have known that mining Bitcoins for free is not possible. They would never ask you to sign up for a ”free plan”.

There are claims that this website is keeping the cost of mining down while increasing efficiency.

The data centers are allegedly located in Europe, USA and China. That is not true at all. And if there is some truth in this statement, we demand to see proof.

In short, we are dealing with a site whose operation model is similar to that of a typical Bitcoin ponzi scheme.

At this point, you must be wondering how 99mining is intending to scam. The game plan is so simple. It is as follows:

A greedy and financially inexperienced internet user lands on the site, sees a free investment plan and imagines that they can earn 0.001 BTC for free at the end of the month.

Obviously he signs up and when he does so, ‘mining’ starts immediately. After 30 days, they will have accumulated the promised amount.

But to speed up the production of Bitcoins, the gullible investor will upgrade by paying 0.01 BTC to purchase any of the premium plans touted on the 99mining.cloud website.

This will be inspired by the fact that they are seeing ”proof” of payment which is in form of a page showing alleged payouts which are updated every day. This is a script which is programmed to update the page regularly. The investor will be oblivious of this fact.

Soon they will reach withdrawal threshold which is 0.005 BTC. When they request a payout, the site will religiously follow the time-honored style of scamming individuals. They will ignore any emails that this investor will send them demanding to know why their Bitcoins have not been deposited to their wallet.

Why 99 Mining is just a scam

It’s interesting to note that the owner of this site is anonymous, and they are stealthily enjoying the anonymity that the internet is affording them.

They claim that 99 Mining Cloud has data centers in the aforementioned parts of the world. That is not the case.

With the rising cost of mining, nobody in their right minds will ever give a free cloud mining plan for Bitcoins. Who pays the cost?

These claims are simply too good to be true. The scam is most likely targeting the financially naive.

What is the Bottom line?

Of late, the price of Cryptocurrencies have been on a down trend for weeks or months. Price is currently range-bound, meaning that there is minimal climb or decent.

For example, Bitcoin has been playing around the $6,000 to $7,000 mark for weeks now. This applies to all other Cryptocurrencies in the market which have not shown any significant rise or drop in price.

When price is down like this, it means that we can’t generate any significant profits from mining of BTC. Anything that we make out of mining will be minuscule.

Our best advice for you

As we have said it before, 99 mining is a scam. Don’t waste your money or time participating in something that won’t yield any returns. You should definitely try trading of Cryptos to see how it will go. Our readers have reported massive returns from trading of Cryptocurrencies.

MiningTower Review: Legit? MiningTower.biz Scam

MiningTower.biz Review: MiningTower Scam Alert! Without a doubt, MiningTower.biz is a scam, not a genuine 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 Mining Tower review here.

Why is a Mining Tower scam?

MiningTower.biz is a scam due to the following reasons:-

# MiningTower 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 MiningTower.biz is a Ponzi scheme because it doesn’t have any real source of income to pay profit to its members. It claims to pay up to 2000% profit in 60 days on the investment amount of members by using the money of members in Foreign Exchange and Trade through Bitcoin exchanges. However, it fails to provide the proof of its so-called trading which 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 MiningTower 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 MiningTower 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 MiningTower are illegal schemes.

Now you know that MiningTower.biz is a Ponzi scheme. So, MiningTower.biz is a fraudulent website. That’s why we have listed MiningTower within our “Scams” category. So, in this situation, we don’t recommend you to invest in Mining Tower.

If you want to report something about MiningTower or add your own MiningTower.biz reviews, then please feel free to leave your comment below.

If you want to share this MiningTower.biz review with your friends and families through your social media accounts to make them aware of this Mining Tower scam, then please feel free to do so.

You can find the various kinds of scams listed within our “Scams” category by clicking >HERE HERE

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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