The concept and concept of cryptocurrency is firmly entrenched in our life and no longer causes such strong emotions. The digital asset market, as well as companies operating in this area, continues to evolve and improve. But what remains the same is the thirst for profit and making profit by any means. In today’s article we will look at the cloud mining service IQ Mining .
IQ Mining Company Description
For a start, a small inset: starting to write this article, I tried to be as objective and impartial as possible. However, in the process of studying the “service” and searching for information about them, I more and more departed from the image of a fair judge and held the position of a strict prosecutor who wants to obtain a conviction for the villain at any cost.
Let’s start with a short description: IQ Mining is an online cloud mining service that offers cloud mining of a number of cryptocurrencies. The network has information that the company was founded in December 2016, but I have not found any real evidence that the company has been operating for more than two years. In particular, most of the reviews of this service are dated 2019.
The chip of the IQ Mining service, according to them, is the use of smart mining, which implies high efficiency and cost reduction by 30% compared to competing companies. Unfortunately, the company’s website doesn’t describe in what way such a significant cost reduction (by one third) takes place, and how the smart mining process is organized.
As you can see, even the company’s engineer is not able to give a clear answer to this question. According to him, most of the success of the enterprise lies in profitable contracts with data centers. But the question remains: why of all the companies with which data centers enter into contracts, the most profitable, almost to the detriment of themselves, was concluded with IQ Mining. As for me, this is too simple an explanation for such “profitable” mining.
Besides, the company does not indicate with which data centers it has entered into an agreement. “Buying multiple contracts for different cryptocurrencies” is a really effective way to increase potential profits and reduce investment risks. But this principle has been known to the whole world for a long time by the name of portfolio diversification.
I dare to assure that any functioning company, not even in the sphere of finance, is not only well acquainted with this principle, but also actively uses it in its activities. Therefore, these “benefits” are nothing more than obvious work principles, presented as personal developments and achievements. In reality, all companies follow these tips and the fact that IQ Mining does it all better (by at least 30%) to believe with difficulty.
IQ Mining company website
Now I propose to talk about the company’s main weapon for attracting investments the website. Immediately make a reservation that the site was not impressed and immediately seemed very rustic, as for the official page of a serious service.
When switching to the official website of the company, we are offered two options: replenish the account and proceed to mining or calculate the potential return on investment.
By the way, before investing in any project, any adequate investor would like to learn as much as possible about the company and its activities. To this end, IQ Mining has made a section on “About us” on its website, where it described the company’s activity, structure and history in the most detailed way:
This is really all the information that the company decided to provide to its potential customers. Further in this section it is indicated in which countries the partner data centers are located.
Although, apart from notes on the map, no further information is indicated and it is not possible to verify it. IQ Mining does not indicate its place of registration, management and other structural details. The only thing that indirectly indicates the place of registration of the company is the inscription at the bottom of the site “IQ mining Corp, Seychelles”, which indicates offshore origin. To obtain any details about the company, we tried to contact the contact center through the official e-mail address indicated on the site, but did not wait for an answer.
IQ Mining Services
I think this chapter should start with the text indicated in small print on the IQ Mining website itself:
“The financial services provided by this site have a high level of risk and can lead to the loss of all your funds. You should never invest money that you cannot lose. Please ensure that you read our terms and conditions before making any transactions on our trading platform. The company under no circumstances shall be liable to any person or legal entity for any loss or damage caused by the actions on this website”.
Based on this, a potential customer service invests in the company at your own risk. But is it worth spending your time, money and most importantly nerves? By all appearances, the company is nothing but another fraudulent office. She does not indicate any detailed information about herself and her activities. Therefore, if you try to invest in the service, then only a very small amount. But here another moment arises. In search of truth, we broadened several forums and found people who bought power at this service.
Further, the client’s story:
I invest in company 100 bucks. Taking into account the promo code, it turned out 1100 GH / s. During the day, 0.00007 BTC came running. Of these, 0.00006 BTC is charged for servicing per day (those are 0.005 USD for every 10 GH / s per day). And 0.00001 BTC remains for me, that is, there will be 0.00365 BTC for a year, then the term of the contract ends. That is, profit at the rate of about 32.88 USD per year
Bottom line: when buying capacity for 100 200 dollars for profit, you can not count, and when investing $ 50, the balance very quickly goes into minus. This means that with little blood from the service you will not get anything. But to invest in the company $ 500 and more is very risky because of the high likelihood of scam and market volatility.
Promotion of IQ Mining service
I would like to give a separate place to all sorts of reviews for this service. And although they are not so many, they are quite capable of misleading a simple man in the street. And despite the fact that they do not have any additional information about the service, this does not prevent them from praising the IQ Mining service with flattering epithets.
Not everyone knows all the nuances of working with cryptocurrency, so the IQ Mining site is thought out so carefully that everything is clear even for a simple layman. All you need is to choose an account that you prefer, to register and start earning a cryptocurrency” we found such a maxim in one review praising this service. The author presents the company as a universal panacea for solving any problems. All the client needs is to “register and start mining cryptocurrency. Unfortunately, in practice everything is a bit more complicated…
By writing this article, I approached with all the care, only there was nothing to carefully study. According to the editors, the company IQ Mining is another dummy, an ordinary scam, which does not even try to disguise it better.
- Doubtful information about the time of the company;
- Doubtful ways to obtain “high efficiency” mining;
- There is no data on the data centers where mining takes place;
- Very little information on the corporate website about the activities of the company;
- From the contact details of the company only e-mail;
- The mass of similar articles on the network with praise about the company.
Naturally, we have no right to discourage our readers from investing in cloud mining and, in particular, in this company. But we convincingly ask you to study in detail information about services, take risks into account and make a deliberate decision.