In this article, we will be looking in-depth into Mining City. We will talk about what the company is about and whether the company is truly legit or a scam. It is important to gather user reviews about a particular company before throwing your money into it, especially when you are dealing with investment companies.
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Mining City is a Bitcoin investment scheme where members can mine Bitcoin very conveniently and get very attractive returns on their investments. Mining City enables its users to be able to earn passive income from home.
This is especially very important in cryptocurrency this era of COVID-19 that we are in where many people are forced to work from home. Bitcoin has always been a great method of earning money online and it is a very popular and trusted cryptocurrency system.
So, what Mining City does is that, the platform allows its members to mine Bitcoin and it also helps to bring the Bitcoin community together through mining.
This means that, whether you are a new member or an experienced member with Mining City, you can mine Bitcoin with Mining City. There has been a boom in the number of people willing to invest in the cryptocurrency market in recent years. And this means that, a number of people have fallen for Ponzi schemes that posed as legit investment platforms. This calls for us to take a very good look at Mining City to ascertain if they are not a Ponzi scheme.
Mining City is very popular in certain countries of the world like Japan, Vietnam, South Africa and Korea. Mining City aims at creating a safe haven for cryptocurrency investors. Mining City is also set up in a way to increase profits on investments. So, Mining City helps people to mine Bitcoin and increase the value of their investments by expanding their network in the community.
There are 2 main methods through which people acquire Bitcoin which are either through Buying or Mining. Mining of Bitcoin can be very complex and hard to understand by many people. This is where Mining City comes to the rescue.
So, if you are an investor, Mining City will handle all the complex processes and factors of mining on your behalf. Mining City even provides equipment and technology needed for mining in order to assist investors and minimize the cost of mining management.
Did You Know?
– It is reported that Mining City is the strategic partner of btc.com which is the largest Bitcoin pool in the world?
– Also, Mining City was reported to have signed an investment document with the Kazakhstan government in which they were allocated land for 5 years to build a coin mining factory and they were also provided with electricity incentives to aid the process.
Is Mining City Fake or Legit?
Mining City is obviously a very legit Bitcoin investment program. You can also visit their website at www.miningcity.com which is available to web visitors in only selected countries. But all in all, Mining City has been confirmed to be very legit. You don’t have to worry about being duped.
However, some users on trustpilot have submitted their personalized complain, insisting that Mining city is a scam or fraud. However, that doesn’t hold water as the number of positive reviews far out numbers the negative reviews. You can see the screenshot below as regards the user with scam claim;
Considering how Legit Mining City is, kindly go through few of the positive reviews below from some clients/customers;
What is Bitcoin Mining and How Does it Work?
We all know that Bitcoin is a virtual currency that spurred the block chain development. Bitcoin as a cryptocurrency has become very popular as the years go by. And it has been predicted that Bitcoin and Block chain will be the future of finances globally.
In order to “mine” Bitcoin, some specialized computers are deployed for the process. These computers use special software to solve complex math formulas. So, a determined number of Bitcoin is exchanged for every formula that is solved.
This method of mining is indeed very smart and is a very effective method of issuing the cryptocurrency. And this mining method creates an incentive for investors which then encourages them to mine more. There are also Bitcoin miners that help to ensure that the Bitcoin network is safe and secure and also help to keep the Bitcoin system very fair.
– When you join Mining City, and you choose your preferred plan that is on offer, it means that you are renting a computing power that will allow you to mine Bitcoin or Bitcoin Vault (BTCV). These computers allow mining at certain rates and speeds.
– Asides from earning from mining, you can also earn through referrals on Mining City. They have a referral plan that works well with most members regardless of their levels. The referral plan allows miners to subsidize the income from just mining.
What are the packages that Mining City offers?
If you want to invest with Mining City, there are 6 different packages available to you. Each of these packages have features that are unique to them. Below, we will look through the 6 packages and their features. Let’s see them;
1. Primary Package
– To start the Primary package with Mining City, you need a minimum investment of $300.
– You have 1100 days of Bitcoin mining guaranteed for you.
– The total time duration for your contract is 1100 days.
– You can start mining 10 days after your purchase
– The equipment used for mining is the WhatsMiner M21S
– The coin you will be mining is Bitcoin
– The Plan HashRate is 3 TH/s (per second).
2. The Standard Package
– The minimum amount to start investment is $600.
– The time period for mining is 1100 days that are guaranteed.
– The contract period lasts for 1100 days.
– You can start your mining 10 days after you have purchased your package.
– The equipment used is the Whatsminer M21S
– The plan HashRate is 6 TH/s and the coin mined is Bitcoin.
3. Bronze Package
– The minimum amount for investment is $1200
– The plan HashRate is 12TH/s
– The contract period is 1100 days and the coin mined is Bitcoin
– It is Ian Option 3
4. Silver Package
– The minimum investment is $2400
– The period for the contract is 1100 days and the coin mined is Bitcoin
– The plan HashRate is 24 TH/s
5. Gold Package
– The minimum amount for investment is $4200
– 1100 days of Bitcoin mining is guaranteed
– The Plan HashRate is 42 TH/s.
6. Platinum Package
– The minimum amount for investment is $12,600
– The period of mining contract is 1100 days
– The Plan HashRate is 138 TH/s and the coin mined is Bitcoin.
With Mining City, you will:
– Receive Bitcoin earnings everyday
– They claim that their model is good for long term investments.
– The Mining City operation is public, so there is transparency according to what is stated on their website at miningcity.com.
From our analysis and research, we cannot intelligibly affirm that Mining City is a Ponzi scheme or a complete scam because it is legitimate from all indications. The platform is still up and running and user testimonials suggest that there are absolutely credible, since some have reported receiving returns on their investments.
However, Mining City does practically posses the properties of a Ponzi Scheme, especially in comparison to other Ponzi Schemes and investment scams out there that have been featured on mainstream media.