What is Altminer.io? Is Altminer Scam or Legit?
If you want to know more about Altminer.io and how does this company work then we are here to help you. In this Altminer Review, we are going to discuss some of the frequently asked question related to it such as, Is Altminer Scam? Or is Altminer Legit? Or is Altminer Real? Or is Altminer Fake?
If you do not want to read the whole article and looking for a more precise answer then we must tell you that we do “Not Recommend” Altminer to our readers due to its working as ponzi scheme. Ponzi scheme is an illegal scheme in which companies pays their existing members from the investment made by its new members. These schemes are always at high risk of being collapse due to their unsustainability but there are some people who are aware of ponzi schemes and still invest their money in ponzi scheme because they know that at starting these companies will be paying to their investors.
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How does Altminer works?
Altminer claims to be involved in purchasing equipments for cryptocurrencies but there are no further claims and evidences presented in company’s website which tells more about this. They offer an investment plan for their members which increase the rate of interest in every 6 hours. The interest starts from 3% which is providing 0.75% of interest on every six hours to 9% which is providing 2.25% of interest on every six hours. Now offering such high interest on every six hours is not possible for a genuine company because obviously they are working under some structure. But the rate of interest offered by Altminer is way too high which is almost impossible to pay without having a regular income source. This type of technique is usually followed by scam websites for attracting more and more investors.
They are also offering referral commission to their members under which they claim to provide 7% of deposit from the level 1 referral and you will also get 10% of referral bonus from level 1 referral income. The only thing which is questionable here is that how Altminer is paying this commission. They have not mentioned from where they are generating revenue for themselves and their clients. This all indicates that they are working under ponzi scheme. The source of their income is money invested by their investors. The money invested by new members will be paid to existing members and that’s how they will gain trust of their members and will attract more members to invest in the company.
The company has also not provided the information about its owner in their website and their owner information is also guarded in WHOIS record. Hiding your identity from your members is not a good sign because how can you expect from someone to believe in you until and unless you are not revealing your true identity to them. Maintaining transparency with your investors makes you more believable but Altminer decided to hide their identity from its members which raises question on their authenticity. The company also does not have any kind of registration certificate or anything to prove their legitimacy to its members. There are so many things which can raise doubt in member’s mind.
I think that above mentioned reasons are sufficient enough for you to decide why we are Not Recommending this site to our readers. They are simply working as ponzi scheme which is illegal. They will use their new investor’s money for paying their existing members and will continue doing so till they have money. After some time they are going to run away with the money.
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If you have any queries regarding Altminer in your mind or you want to share something related to same with us then please comment below in the comment section. We will be pleased to hear from you.