What is BTCMine? Is BTC Mine a Scam or a Legit?
If you are searching BTCMine reviews because you want to know either is BTCMine a scam or a legit, what is BTC Mine in real and so on, then you are absolutely in the right place because here, within our BTC Mine review, you are going to find out the complete truth about BTCMine. Actually, we have listed BTCMine.cc within our Not Recommended sites list because it is not a good company, it is an illegal scheme known as a Ponzi scheme. Well, if this much information on BTCMine is enough for you and now instead of finding out more details on it through our BTCMine.cc review, if you want to find out the real opportunities to make money online, then you can click this link:- newsonlineincome.com/legitimate-work-home-businesses/
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OK, now let’s begin with our BTCMine review as below in order to find out what is BTCMine.cc in detail.
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BTCMine login and join in link:- https:// btcmine. cc/ (Not Recommended to join)
What is BTC Mine and why don’t we recommend it?
BTCMine is an illegal scheme known as a Ponzi scheme which will pay only for few days at starting in order to lure more people into its scheme and after collecting enough amount of money, it will just stop paying and run away with that money. The business model of companies like BTC Mine is completely unsustainable. So, even if this company wants to pay for long time, it can’t. Because at starting when it pays to few members to lure more people into its scheme, that time it will pay those members using the newly invested funds by other members. But, as per its claims, it needs to add profit to pay to those members and that profit margin it will adjust by using the money invested by other members. So, each time it pays to some members, it creates a debt equal to the profit amount that it pays to those members. Day by day that debt amount will be increased and the company will be completely dried out with funds and ultimately will be collapsed.
BTCMine is offering to pay upto 0.5% hourly, means 12% daily interest rate for lifetime on one time investment amount and they claim that they can pay such huge interest rate daily by using the money invested by members in bitcoin mining, foreign exchange and bitcoin trading. Well, this claim itself is a bogus claim, every bitcoin and foreign exchange traders or bitcoin miners can easily spot a scam in this claim because no one can make constantly every day 12% profit with those trading and minings. The real bitcoin mining companies like Genesis Mining never can promise such high rate of profit on regular basis. If you don’t know what is Genesis Mining and want to find out the details on Genesis Mining, then you can click this link:- newsonlineincome.com/genesis-mining/
So, like we have said before, they are using newly invested funds of members to pay the matured plans of old members, which is completely unsustainable practice and called as a Ponzi scheme, means they will pay only to few members at starting and will stop paying later due to which majority of members will lose their money. That is why Ponzi scheme is illegal. If you want to know more about Ponzi schemes, then you can find the details by clicking this link:- newsonlineincome.com/ponzi-scheme/
On top of that, BTCMine is making people confuse by showing the registration document from UK Companies House, but in real that is not a license to run an investment companies or something like BTC Mine. That is just a registration for tax purpose which anyone can easily register just by paying 20 GBP and by providing fake address by renting address with virtual address services. Yep, the address which BTCMine.cc has provided is not their real address. More than that, there is not any other information about who and from where is running and operating BTCMine. In the past lots of companies which use to have registration document from UK Companies House have already turned into scam which proves that nobody can catch the owner through that registration document. So, we don’t recommend anyone to invest money in BTCMine.
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