Minerfarm review – is minerfarm.net a scam or a legitimate mining service?

Minerfarm review – is minerfarm.net a scam or a legitimate mining service?

Minerfarm Key Features

🔴 Minerfarm services are not trustworthy – a warning sign!

🔴 Minerfarm is under no regulatory oversight – a red flag!

🔴 Minerfarm is not transparent and does not have any of its contact information available – a red flag!

🔴 Minerfarm creates irrational expectations – a red flag!

Minerfarm Products and Services

Minerfarm is a scam company that claims to provide access to incredible return rates – however, that is not the case, as the company does not really have any way of making the profits it claims are available with its investment plans. To illustrate, here is the most modest of these plans:

There is no way that Minerfarm, or anyone else is able to achieve the promised ROI of 4.5% daily! And that is because crypto mining, which Minerfarm claims to provide access to, is made so it simulates an artificial scarcity! The fact Minerfarm claims to provide these returns means the scammers behind the firm know noting about mining – they would have to keep upgrading their hardware at an impossible rate if they were to achieve the profits they claim!

Of course, it does not matter what Minerfarm is actually selling, as long as people buy it – and there has been a surge of crypto investors which are quite vulnerable to that kind of scam! They are simply interested in the markets, but do not know what they are dealing with, making the false promises of firms like Minerfarm seem completely possible. However, what these firms are doing is not providing an investment service. It is running a HYIP scheme with a new coat of paint! Avoid it at all costs!

HYIP stands for High-Yield Investment Programme and these businesses usually promise higher ROIs (return on investment) than usual. In some cases, the offers are just ridiculous- up to hundreds and thousands of percentages per day, which certainly can’t happen. To draw a comparison, even the wealthiest banks or investment funds are not capable of delivering more than 10% per year, let alone per day or week. Therefore, the products and services assessment suggests that you’ll be at risk if you deposit.

That being so, it’s worth considering trendy alternatives that can help you build an extra income, such as Forex brokers PAMM managed accounts, social trading or crypto services that may as well fulfil your investment needs. For example, many cryptocurrency exchanges already provide passive income opportunities like BTC and ETH staking but make sure to subscribe to well-known, proven networks.

Minerfarm Company and Regulation

Minerfarm is not licensed in any capacity – the firm does not have any regulation over it, and that is incredibly concerning, as nine out of ten unlicensed investment firms are scams – beware!

The lack of regulation implies that the people operating this HYIP are working unchecked, meaning they can misuse or misappropriate your funds, eventually bearing no responsibility for their actions. To draw a distinction, regulated investment companies are forced by law to follow certain rules that guarantee the safety of clients’ funds. For example, to get a license, a firm should meet minimum capital requirements that vary from country to country and may also depend on the product specification as there are many types of investments possible- stocks, bonds, mutual funds, banking products, fixed-income, retirements and so on.

In the US, the minimum capital requirement is 20 million USD, which happens to be among the heftiest in the world. Other than that, US financial services companies are also required to keep accounts segregated, thus ensuring that clients’ money can’t be exposed to unnecessary risks or stolen. However, it’s worth noting that the US regulatory framework is very complex as there are numerous financial authorities, among which NFA, CFTC and SEC, to name a few, and all of these monitor companies in one way or another. The US markets may be tricky for the ordinary investor, so make sure to acquaint yourself with the environment before you’ve wasted money on potential scams like the one under review. And you’d better avoid unregulated investment businesses at all times.

Minerfarm Address and Contacts

Phone number:N/A

Minerfarm does not provide access to any contact information – this is also common among scammers, who seek to avoid legal action from their victims – once more, beware!

When it comes to investing, transparency is crucial as you should know who’s running the investment and where your money actually is. Legit firms always operate transparently and are bound by law to provide the public with basic corporate information, including addresses, contacts and legal documents disclosing all provisions related to the service. And our experience shows that it’s most probably a scam if you can’t reach anyone over the phone given, can’t validate the addresses or can’t in any other way prove that the investment provider has the authorisation to offer financial products.

Minerfarm.net Website Info

SimilarWeb RankingNone at the time of writing
Server Country USA
WHOIS Reg. Date2021-10-12
RegistrarNew Dream Network LLC
SSL certificateValid
OwnerRedacted for Privacy
AdministratorRedacted for Privacy

Is Minerfarm Safe?

Minerfarm is not safe – the firm does not have anything of value to offer you, and you should not be depositing with it!

Scam Warning

Dealing with HYIPs and other unregulated investment providers is not recommended for many reasons. Above all, the absence of regulation strongly suggests a scam as only regulated firms are authorised to provide investment services. As you probably guess, scams can’t flourish in a strong regulatory environment, so you’d better think twice before you’ve deposited with unregulated investment schemes.

The authorisation is only granted when the firm complies with the requirements and standards, which guides how the entities should treat you as a customer and what sort of information they should give you. Each country’s regulator maintains a register of licensed firms and the investment services that each licensee is authorised to provide. On the other hand, unauthorised firms aim to avoid complying with the controls that legal, authorised entities are subject to, thus leaving investors entirely unprotected. Needless to say, scammers want to get you totally unprotected, and that’s why they always work without a license.

As for HYIPs themselves, many of these schemes operate precisely as a Ponzi because many investors can actually withdraw initially, but sooner or later, the service will inevitably close. HYIPs usually target traders and investors with little or no experience by promising fictitious investment opportunities said to deliver unrealistically lucrative gains. 10% or 100% per day certainly isn’t a legit offer.

1 Comment

  1. I can’t get to the site that was located at minerfarm.net. At the moment, another cloud mining is already located at this address. Can I somehow return the balance on the account that I had left?

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