Freemining.co is an alleged online-based platform that mines Bitcoin. The company assures investors their services are transparent. The platform claims their mining activities are accessible to everyone.
This Ponzi scheme allegedly uses expensive equipment to mine. Hence, no time required for they have set up the material to generate profits for you. However, how this company plans to create Revenue is Shady, and no evidence is provided to support their claim.
The company promises you they can generate up to 0.00002500 BTC every single day. However, this is not the only investment plan this company offers you. Rather the other investment plans we will review further in this article.
Freemining.co only accepts the bitcoin payment method. The company inform investors that once the money reflects on the balance, a machine is added to the profile. Investors will immediately start earning from mining.
It is risky to trust this company with your money since you will lose your hard-earned income. Nothing this company offers makes perfect sense. They can only be considered as a waste of Cyberspace.
Free Mining brag being the best bitcoin cloud mining and passive income site. Freemining.co claims to be the solution you need for bitcoin and cloud money today. The company promised you 2500 Satoshis daily in just 2 minutes.
The crypto world is fast-growing, and the competition is also rapidly increasing. Hence in recent times, it isn’t easy to attain such kind of Returns within the speculated time. Trust only legit platforms that offer reasonable investment returns to you.
The Investment firm tries hiding its murkiness. It features a section with fake real-time transactions to lure investors’ in their fraudulent platform. The company claims that they do not have hidden fees, and every single purchase is transparent.
Freemining.co features a lucky game which investor can play. The game allows up to three spins for new users. Once you upgrade, the company will give you more spins. The co-founders and employees of this company are unknown to the investor.
There are no mining activities taking place in Freemining company. It will take a few seconds to realize this if you have adequate knowledge of how the market works. The company does not disclose the base of their servers, or mining farms, if any.
Additionally, they do not disclose how they plan to cater to mining activities expenses and the amount of money they take from investors. The wining rate and the draw down are also not disclosed.
Freemining.co has not provided any details of the customer security protection, and you risk sharing your personal information with anonymous people. Investors need to know who owns or operates the company for fund safety.
Once you play the game, you will win. Unfortunately, to access the balance, you will need to deposit funds into your account. The game is just used to attract more investors into falling for the catch.
Freemining Fund safety
The company has received many complaints from investors who have lost their money. Your funds are not safe with this alleged investment firm. They have no banking location or banking data available for the investor.
Failure to provide banking information as a significant red flag and only raises more doubts regarding the platform. Banking information is of the Essence because it proves genuineness to the investor. In return, they know who handles the funds. Moreover, regulatory require investment companies to avail financial data where they segregate user money to the investors.
The withdrawal method is also shady as investors have complained of not receiving the fund. They are only receiving failed messages, yet the company asks them to wait for the matter to be addressed. Legit trade platforms will always provide the required data to the investor. It will help you in case you lose your money you can easily get refunded.
Regulation and Customer
Freemining.co has no contact information, neither email nor a telephone contact. In case you require assistance, you will have to fill out a form, but this does not guarantee you’ll receive feedback.
Scam companies hide their contact to prevent you from tracking them once they swindle funds. Legit companies, on the other hand, provide contact information, customer support round the clock, and this proves genuineness, and you should only trust such companies.
Free Mining is not regulated, and once they achieve their target, they quickly cease to exist. Unregulated platforms risk criminal prosecution. They also go against the law whenever they choose.
For any company to be allowed to generate money from the public regulation procedure is a mandatory requirement. Different legal bodies around the world have sets guidelines to prevent the public from falling into scam companies.
Legit trade platforms that have regulatory certificates will always showcase the form on their website. In return, they win the trust of investors. No location address is available for the investor; this is a major red flag on why you should not trust this Ponzi scheme.
Freemining.co has numerous scam characteristics. They use massive investment plans to tempt investors, yet no profit is guaranteed. It is a common trait used to target customers, and you should not fall for this simple trick.
The Investment plans used in this platform all run for 365 days, meaning you’ll have to wait a whole year for you to start getting profits. This platform has five investment plans;
The basic plan grants investors 3% every day of the initial investment, and 0.02 BTC is guaranteed. The package offers you 5 spins in their game. The starter plan offers you 0.015 BTC and 3.333% daily with 15 free spins allegedly.
The standard plan promises you a 0.05 BTC 35 free spins in their game 0.00175 BTC and 3.5% daily. Enterprise plan promises you 4.5% and 0.0675 BTC every single day, 0.15 BTC, and also 75 free spins in the game.
The last plan is the professional plan which grants investors 0.35 BTC 5% daily and 0.0175 BTC and free 125 spins. Any experienced investor in the crypto world will realize some shadiness in their plans and immediately will stay away from this Ponzi scheme before losing money.
According to whois.com, the company was registered in 2020 March and will expire in 2025 the same month. The domain name for the company is freemining.co. The company, according to Alexa global ranking, receives the search traffic of 28.65%.
The platform ranks at 24, 459, the primary target audience for this company is in Brazil. Free mining has a lot of traffic that is coming to their system.
It could mean one thing, a lot of people are visiting the site, and the scammer plan is work in their favor. The company registrar is Namecheap.Inc is used by many scam platforms who want to hide their identity, and you should not invest in such companies.
Freemining.co Final Verdict
This platform is not regulated, and you risk losing money when you purchase any of the offers. Freemining.co has not provided any contact information or any evidence of the location. Additionally, they do not provide any banking information.
Free Mining only has numerous red flags that warn you of the companies dealing. Invest in reputable mining companies in the industry. Information about the company founders is mysterious, and this is because they want to continue swindling your money and stay hidden. The investment offers this company promise you do not make sense.