Avoiding Scams
Reportedly, the cloud mining industry has been in the spotlight because of several scams. You can use these pointers to avoid getting trapped in a scam:
Here are the top five things you need to do to confirm the legitimacy of a cloud mining service:
- Go through the official website thoroughly. Look for details about the mining operation, including photographs of the mining farms.
- Check the location on a maps application like Google Maps or Apple Maps.
- Check registration documents.
- Check for regulatory actions, scam reports about the service provider.
- Before investing, use the customer support system through all available channels to gather more details about the business.
Potential red flags:
- Few details about mining farm/rig location (no photos, live feed videos, etc).
- Unconfirmed or hard-to-confirm location available on the website.
- Reports of being a scam (as stupid as this sounds, people still fall for scams).
The official website should be an easy giveaway that a cloud mining service is not clean. Look out for obvious signs on the website, including tempting rewards and payouts. Play around with the customer support system through multiple means, including chat, email, and any other channel to personally confirm legitimacy.
No cloud mining service has reasons to hide information about their mining farms, especially if they expect people to invest money in that farm. There have been multiple reports of cloud mining service scams, especially in the US and Europe.


