NX Mining Review: Scam or Legit? Stay Away
Having observed NX Mining for a while (a cloud-based Cryptocurrency mining service which claims to have served investors since 2013), I have finally resolved to put together an honest review and opinion about the platform.
NX Mining at NX-mining.com is really a convincing website. But if we go through the regular scam checks, we find that NX-Mining is a perfect fit as it ticks most items in my scam checklist.
You can rest assured that the owner is anonymous and does not wish to disclose their information to anyone.
Besides, they claim that this platform was started in 2013 yet who.is information can reveal that the domain of this site was registered in December 2016, meaning that they are only 1 year old.
Social recognition for NX Mining is quite poor as this service has not made it to the popular Bitcoin mining forums yet.
Basically, only a handful of blogs out there have managed to gather what they can find about this website and published it on their respective platforms.
NX Mining reviews found on those blogs are mediocre at best as they just skim through the monotonous information and conclude that NX-Mining is a scam.
The point is, if you are seriously looking for credible information about this ”cloud mining service”, you will be in for disappointments.
Thankfully, this NX Mining review should give you more insights and help you make up your mind.
NX Mining review
NX Mining claims to be a virtual Bitcoin mining platform where investors can purchase cloud-based hashing power in GHz to generate Bitcoins.
This platform seems to have specialized in Bitcoin mining only as they don’t mention their activities in relation to other altcoins such as Ethereum, Dash, Litecoin and so on.
One of the promises that you will most likely take note of is the promised fixed income benefit.
There are 6 plans in total. The first plan should yield 130% after 3 months. The second plan should yield 170% after 6 months. The third plan runs for 1 year and yields undisclosed returns.
Their 3 and 15 years plans are equally not listing their expected returns. However, going by returns that this platform is supposedly giving on the first two plans, we can conclude that this profit is supposed to be higher for those who will hold their funds for 1 year or longer.
Based on those returns, one might wonder if these plans are real. Is there anything like fixed income in Bitcoin mining? Has anyone proved that NX Mining really offers payouts as stated on their website?
Actually, the first thing that people want to know is whether or not this platform is yet another scam.
And yes, this cloud mining service has all the characteristics of a deceitful scam.
I have not come across any user feedback so far. I do not understand why, considering that this cloud mining service has been around for the last 1 year.
It seems that this is the exact reason why they have mounted a very powerful marketing campaign to try popularizing this service among the Bitcoin mining community.
Since there are no complaints of scamming at the moment, we cannot just conclude that there is no danger yet.
NX Mining review: word on the promised returns
Let’s be realistic. These returns are super huge. They look and feel ridiculous and nonsensical.
If 3 months of investing with NXMining will yield 130%, then we can conclude that this service is really ”profitable”.
I am currently using these cloud mining services on the internet and I can tell you for sure that no legitimate cloud mining service will give you 130% in 3 months. That is just not possible.
Although my preferred cloud mining platforms are profitable (and can make you good money if you invest a good amount), I do not want to lie that I have accumulated 130% returns in just 3 months.
So clearly NX Mining is misleading investors with false information that will obviously lead to high expectations and poor decision-making.
The other thing that has caught my attention is the promised daily returns.
I have actually experimented with their online Bitcoin profitability calculator to see how much I can earn with, let’s say 8400 GH/s or 84TH/s of NX Mining hashing power.
The calculator returned daily earnings of 0.00081809 which is equivalent to $6.5 daily earnings (if current Bitcoin price is considered).
Keep in mind that this site is claiming that the earnings are fixed and can only increase (not decrease) after a certain length of time.
One of my favorite mining platforms called Hashflare is making me slightly over a dollar every day with 8400 GH/s of hashing power.
I’m even glad that the price of Bitcoin took a brief swim under the water, and is recovering from its previous dip last week. That should give you more reasons to mine it.
I invested $100 into Hashflare and am not using the option to re-invest my profits back into the pool.
P:S: If you’d like to buy Bitcoins, go through this post first.
So how come that for the same amount of hashing power, NX Mining is offering a whooping $6.5 per day? It’s just too good to be true. Rest assured that this site is testing your intelligence.
There are lots of things that go into Bitcoin mining before profits can be accumulated.
You can learn about those factors in this article where I mentioned things like cost of electricity, pool fees, hardware maintenance, mining difficulty and so on.
These factors are never constant, and thus no legitimate virtual mining platform can ever promise high and fixed daily returns.
What you make every day has to vary slightly based on the changing factors.
Indeed NX Mining is as sly as a fox and Deceptive in the sense that they are taking advantage of the ignorance of beginners.
I was shocked when I noticed that NX Mining was also promising its visitors that their platform’s mining difficulty is always constant.
But we know very well that the more people participate in Bitcoin mining, the higher this number will rise. It is common logic.
There is no formula that can make it a constant figure regardless of the number of miners who are participating in the pool.
Again, this proves that NX Mining is a too good to be true Bitcoin mining opportunity.
More proof that NX Mining is not a legit Bitcoin mining platform
You will cry a river when you send a huge amount of Bitcoin to NX Mining hoping that you will break even in 3 months and even make 30% profit.
If the owner is mysterious and wants nothing to do with transparency, stay away.
Of course I am being suspicious of the fact that their location wasn’t revealed.
No physical address has been published anywhere on the site. You can only contact these anonymous crooks through this email [email protected] to learn more about their nonsensical product.
The site does not even mention whether or not they have mining hardware. If they have a mining facility, they would never hesitate to show us pictures and exact physical location.
Therefore, I have very good reasons to believe that no Bitcoin mining activities are going on here.
Finally, this service isn’t backed by any corporation. Put these factors together and you will see the potential risk that you will be subjecting yourself to by participating.
My best advice for you
Just search for ”NX Mining reviews or scam” and you will end up with information that doesn’t reveal what I have just told you here.
The thing is, if you want to be safe, stay away from this ponzi scheme. Look for Bitcoin mining companies that are legitimate and reputable. I just gave you a hint on where to look. Here’s the link again.