Nexusmine Review – Is Nexusmine.net a Scam?
I am reviewing a peculiar Bitcoin cloud mining site whose owner believes that by giving out free 200 GH/s of mining power and processing payouts in under 2 hours, they can beat the competition. They can make Bitcoin mining as simple as possible. Nexusmine.net is the domain where the website is hosted at. Nexusmine was registered on 16th of July 2018 and incorporated in 25th of July 2018. The site appears to be receiving a large chunk of its traffic from Russia.
Nexusmine claims that they’ve managed to secure at least 22,830 active members and paid out a little over 0.8 BTC. From who.is records, I can establish that the site is just a week old. It is owned and operated by Michael Carroll, who is also the owner of Nexusmine Limited.
For 0.0015 BTC, Nexus Mine believes that they will help you generate some Bitcoins. Their allegedly lucrative referral payouts will also boost your revenue when people sign up through your referral link.
NexusMine is citing the address Nexusmine Limited
45 Henry RoadCM1 1RG, Chelmsford, United Kingdom as their physical location.
But a Google satellite research can reveal that this location is the address of a residential area. NexusMine is nowhere near this vicinity. Go figure.
Having said that, I would like to conduct a more in-depth analysis of NexusMine.
Is this site paying? Can we trust them with our Bitcoin or is this just another ploy to snatch your precious coins? Let’s find out.
Welcome to NexusMine Review
After searching around, I found this Facebook page which obviously suggests that Nexus Mine is determined to maintain a social presence.
I have reviewed that page and discovered that it has quite a fairly decent user engagement. Most of the users there seem to be recommending NexusMine with their respective referral links and claiming that the site is issuing payouts.
It is nearly impossible to verify these claims because these are random users who cannot prove that they actually received Bitcoins from this website.
The theme design of the website is making it look like a high yield investment program.
With all high yield investment websites, payouts are never guaranteed. Even if members receive payouts, it will happen for a short time before the owner can close down and run away with a big percentage of the funds.
I am not saying that NexusMine will act in a similar manner. However, there is a big risk investing in such a website especially if it is exhibiting all the infamous characteristics of a high yield investment program.
Additionally, Nexus Mine is claiming that they are mining Bitcoins for free and will never charge users any fees to mine or have their payouts sent to their respective wallets.
This is something we should consider to be too good to be true. There is no legit Bitcoin mining operation that is mining and sending Bitcoins to their client accounts free of charge.
NexusMine Review – Mining contracts
There are 4 hashpower contracts offering up to 14% daily returns. For 0.00478010 BTC, users can purchase basic contract which gives 6000 GH/s of hash power.
The price of the second contract is 7.51315000 BTC, which is supposed to give 11200000 GH/s of hashpower. Daily returns for this plan is 9%.
For 18.51817840 BTC, users can purchase the third contract which gives 34000000 GH/s of hashpower. With this plan, NexusMine will generate 14% daily returns.
For 0.00150000 BTC, the site will sell you 1883 GH/s of hashpower. Daily returns are slightly over 8%.
From what I can see, these profits are not realistic at all. With SHA-256 contracts becoming increasingly unprofitable, we can’t really see how these numbers will be achieved.
Even last year when 1 BTC was worth about $20,000, I never saw people mining Bitcoins and receiving 8% daily returns. It is simply not possible.
These figures are therefore making this site look quite suspicious. Beware of sites that advertise huge returns out of Bitcoin mining. They are not real.
NexusMine Review – client feedback
There is a lot of feedback here and there concerning this website. Some people are claiming that NexusMine is paying them.
Others are even publishing screenshots on Bitcoin forums and claiming that they are giving proof of earnings from this site.
Again, you should know that nothing is guaranteed from such a website promising 14% daily returns from mining of BTC.
These claims cannot be verified. So I am just going to treat them as mere rumors.
NexusMine Review – the conclusion
I cannot make a decision to invest in this website simply because of the rumors flying back and forth concerning their payouts.
It would have been much better if NexusMine.net was realistic about their earning potential. Those inflated figures are out of the norm.
While I appreciate the fact that the owner is not hiding their identity, their claims are impossible to attain and maintain. I strongly believe that Nexus Mine might pay for some time before going under.
Take note: the domain is set to expire in exactly one year from now. Go figure.