Mining Ethereum at this time will be quite profitable but it requires heavy initial capital as well as lots of patience and a well-maintained discipline.
And these things are not quite possible for everyone especially these days when we're not sure about tomorrow.
That's why people are looking for reliable alternatives and free ones also. But what they don't know is that it's all a scam.
Yes, I'm talking about cloud mining(not all obviously) platforms. So, recently, I spotted a post on some blogging platform about Ethereum cloud mining and it seemed quite appealing or attractive. I was like if it's true then why people are investing in those heavy, high costing, and well-maintainable mining setups. So, I decided to check those platforms and what I found was frustrating because these platforms are the reason for a negative trail against crypto. Here are those two platforms:
ETHPROFITMINER
Now when you go on this website you'll see an input field to enter your ETH address which looks perfectly fine but when you enter your address, you'll be taken to the next page and you can see that your mining has started with some initial mining speed. But soon you'll realize that it's slow and will take months to reach the minimum payout. That's when you'll lean towards their plans for fast mining. Now, this is where you need to be smart.
All the plans look too good to be true and that's because they are. I personally didn't choose any plan but when I dig deeper on some external sites then I realized that after you purchase a plan it'll never get activated and of course you'll never hear anything from their support.
They also have a referral system which is tempting cause it gives you 1 ETH on 100 successful referrals and a gambling feature in which you can double your ETH, but again it'll never happen.
Although they have mentioned some kind of certification which is not reliable as far as I know.
ETHERFLOWS
Now they have a different approach which is more direct. On Sign Up, you'll receive 0.5 ETH instantly in your etherflows account, and on every successful referral 0.2, ETH will be rewarded. This seems quite easy and simple as they have mentioned that, they are donating 25000 ETH to people to start their crypto journey. They've also listed their team members on the platform and I really don't know who all those people were.
Now, a withdrawal date will be provided to you, on which you can apply for the withdrawal but the catch is they'll ask for some ETH to process your request and that's it. Now they don't know who you are.
So, I would recommend that don't fall into these traps only to lose your Ethereum.
PS: This article is based on my personal research and experience and will not be accountable for your actions.
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