Over time solo crypto mining has become difficult. The solution to this has been to join a mining pool which involves combining your computing resources with other miners over a network and sharing the rewards according to the work contributed.
However, this is also not as easy as it sounds. A lot is required to join a pool – you have to be up to date with the latest technologies and configure a friendly and secure environment. Additionally, required pool mining hardware is expensive and consumes a lot of electrical power and internet connectivity. And even after you have taken care of all this, sometimes you are not sure of the reward.
There are many crypto mining companies including EthMine. But, is it legit?
What Is ETHMine?
Headquartered in Hong Kong, ETHMine is a tech-based company with a mission to make Ether mining accessible for anyone across the globe. The company offers users a chance to be part of a mining pool without the need to contribute computing resources and make a profit out of it. Genuine mining pools require someone to invest their computing resources in order to get a piece of the mined coins.
For a start, ETHMine requires users to sign up for a free account. To obtain a mining contract, you will require a minimum $10 worth of crypto such as Bitcoin, Bitcoin Cash, Ether, Dogecoin, and Litecoin. Such a contract will guarantee you a 2.6 percent income per day. You can also purchase an advanced contract worth $5000 and a superior one for $20000. Contracts can be renewed annually, however, you can cancel any time – you’ll be charged only 5 percent of your active investment.
You can also apply to be a representative if you have a total of $1000 your active contracts. As a representative, you are presented additional referral commissions amounting to 5% percent of your referral contribution. Withdrawals are instant with minimum including $5. Other payment options take 24 hours.
Should I Sign Up With Ethereum Mining Investment?
Purchasing a mining contract with ETHMine will easily see you losing all your cash. It’s a scam. How? Why? The extremely high ROI and the referral commissions are clear signs of a Ponzi.
According to them, it doesn’t matter where you are in the world, you can access their platform and earn high bonuses. You can also participate in their affiliate program for bonuses of up to 20 percent. True and legit investment programs don’t work like this. Only sign up with ETHMine if you want to become bankrupt soon.