If you spend quite some time daily surfing the web you've probably heard of cloud mining by now. But whether you do or not let me say this: if you hear "cloud mining", red flag. Most are scams, and you will loose your time and money.
0.001 LTC per day
That's what https://ltcminer.us promise on their free plan. Is this the next scam of the type or legit profitable site? Amount seems reasonable for free earnings, just a couple cents. Could it be real then?
Taking a quick look
The only thing you need to use the site is an email address and a Litecoin address, meaning if you create several mail addresses you could "mine" infinite times from the free plan.
There's not real security of any kind here. They are more concerned on showing you their eye-candy investment plans (which you would obviously have to buy), than worrying about the numerous multi accounts that would surely drain their funds if this were real.
Time to run it through Trustpilot:
Right from the beginning doesn't look good: too many bad reviews, over 50% claiming they invest and loose their money. This is a huge red flag, many scam sites pay users to leave good reviews on these platforms. If you see less than 3 stars you should be worried.
On the other hand you will always see positive reviews from some users, even one here at read.cash. So who to believe?
We tested ourselves
So to get rid of uncertainties we went through the trouble of testing it ourselves. Here's what we found:
- You reach the withdraw minimum in just a few days, but as soon as you submit a withdraw request you are informed it could take over 30 days! unless you invest of course, then it would be instantly.
- If you don't invest (don't do it please) your withdrawal goes pending for undetermined time.
- Finally after a couple months, the status turns green: "Payed" and the TXID shows.
After so much waiting we were thrilled to see the transaction on blockcypher [1]. So we rushed to the Litecoin (legacy) wallet to see the payment, and...
Not even a dime received.
We tried to resync the wallet, we double check the address was the correct... nothing, funds are not to be found.
Conclusion ? SCAM ?
Don't waste your time. After all, if you are lucky enough to get your payment it would be cents, and you would have been waiting for over a month. Maybe some users do get their payments but that's because there're receiving it from what someone else invested (a ponzi scheme).
If you have comments or questions hit the comments box below. Also don't forget to like and subscribe.
Monolith, signing off.
[1] https://live.blockcypher.com/ltc/tx/80c0efd322d3dfa6661483697b97ecdd18f94be0a8913eda526bf20a210a8a29
