EMining Club Scam Review: Thieves Run Emining.club
Emining.club or EMining Club is a platform that claims to offer a marketplace where sellers of hashing power can meet buyers who want to convert that power into more Cryptocurrencies.
You might therefore ask: Is EMining Club scam or legitimate?
My answer is quite straight forward: I don’t think I can trust them.
EMining Club is surrounded by a thick cloud of obscurity.
Moreover, they are still very new in the Cryptocurrency mining space.
There are literally hundreds of sites taking up this space everyday. Unfortunately, 90% of them are ponzi schemes, where investors get lured with easy money only to lose everything because it is definitely not in the interest of those site operators to issue payouts.
The anonymity of EMining Club is a big concern. There is no user feedback at all.
It has not yet fallen into the radar of Reddit and Bitcoin Talk users yet.
Am sure the site will quickly rake up a pretty bad reputation for itself.
Until this happens, we shouldn’t expect Reddit users to start multiple threads on how they got scammed by EMining Club.
If you want to learn whether or not EMining Club can be trusted, here is my unbiased review on the same.
After performing a critical analysis of the site, I can now have full authority to write what I have observed in this review.
Just stay tuned.
P.S: You can safely mine Bitcoin with these cloud mining sites.
EMining Club Review: Is E&E Mining any trustworthy?
I will start by saying that EMining Club is a purported cloud mining service where investors can indirectly purchase hashing power from investors who lease it to EMining Club operators.
Unlike many cloud mining services which I have seen in this industry, this website operates on fixed parameters.
They state their fees very clearly. They also set investment threshold and determine how long a contract will run.
Basically, an investor doesn’t have the capacity to choose their miners or create mining contracts like what Nicehash does.
They also claim that this service is popular on a global scale, yet we know very well that it is only popular in India.
The site is filled with generic information that vaguely address their operations.
Prospective investors can’t trust them simply because the site doesn’t instill confidence in them.
Who owns EMining Club?
If you’ve been reading my reviews, you will know that I can be a real pain in the ass if you run an investment service yet you are always careful not to disclose site ownership.
Some of the most popular Bitcoin exchanges on the internet are guilty of making this mistake.
Details of ownership are a mystery here. I don’t know whether EMining Club is a corporation or just a mere website.
The owners, operators or employees are equally ghost entities/characters.
Although 3 separate email addresses have been provided on the site for purposes of reaching their support, I don’t feel the need to waste my time contacting ghost personnel.
When you look at their Who.is registration, you realize that the domain was privately registered. It first appeared on Who.is on 8th of August.
Experience has taught me that anyone asking for my Bitcoin on the internet yet is careful enough not to disclose their identity is definitely a thief.
Are there any real mining activities going on here?
EMining Club does not pretend that they have data centers in posh locations around the world.
There is no mentioning that they have data centers in Canada, China and so on.
The approach is really simple. If you are a seller of hashing power, you can convert that hashing power into Cryptocurrency.
For you to do this, the site requires that you pay a 5% fee for exchanging power for coins.
Converting one Cryptocurrency into another equally attracts a 5% fee.
While EMining Club claims that no withdrawal fee applies, there is a disclaimer somewhere that states that network maintenance fee will apply during withdrawals.
Sellers are required to approach EMining Club if their hardware can generate hashing power equivalent to 1000GH/s and above.
There are no return on investment promises. However, they recently added a calculator here (https://alloscomp.com/bitcoin/calculator) to allow potential investors see how much they can earn if they commit their money to this site.
The site deals in popular Cryptocurrencies like Bitcoin, Ethereum, Litecoin and Dash.
Why EMining Club sucks?
The site is not popular in search engines like Google.
Majority of people who boost its popularity are people who get paid for surfing and viewing ads on the internet.
In just 2 months, the site’s popularity had risen from 5000 visitors per month to 2 million visitors.
But what sucks most is the fact that EMining Club’s operations have not been verified.
Their owners/operators have continued to maintain a low profile.
The reason why they prefer this anonymity is because they are operating a ponzi scheme business where deposits can be received but payouts cannot be guaranteed.
Of course everyone, not just me, will have problems with these kinds of sites.
If the site isn’t upfront with information about its owner, their qualification, experience or corporate status, I definitely have to send them to my blacklist archive as one of the scams that got launched in 2017 and disappeared in 2018.
I do not know why you should send your Bitcoins to a stranger.
I am saying this one more time: a stranger can never mine Bitcoin for you.
A stranger can never generate or multiply Bitcoin for you.
That’s very simple to understand. But somehow human greed has contributed to a phenomenon where my screams often fall in deaf ears.
My best advice for you now
If am making a correct guess, I can say that E&E Mining is still a new site in its earliest stages of operation.
I have not received any official complaint or user feedback thus far.
However, this does not mean that the service is very safe to use.
While I was doing this EMining Club review, I felt that this cloud mining service was not any different from the numerous ponzi scheme we see on the internet today.
It might issue small payouts now to attract investors and build their reputation too.
But that does not mean that EMining Club will continue to issue payouts in the future.
Once they have collected enough Bitcoin out of the operation, they might just decide to close down the operation and move into other businesses, then rinse and repeat so the cycle can continue.
Definitely I will be watching EMining Club at a careful distance in the next 8 months. I will update this EMining Club as need arises.