Cryptominingnz claims to be a leading cloud mining company that doubles up as a trading platform. There's a warning from the Financial Markets Authority regarding this platform. We must expose the platform before other investors lose money. Crypto Mining NZ does not offer any valid mining contracts. Once you sign up with the platform, you're likely to lose funds. Learn more in our detailed CRYPTOMININGNZ REVIEW.
According to their about us page, Cryptominingnz pays daily. From the about us page, we can see that this is a clone. Instead of having their email address, the platform uses IQ Mining's email address.
Even the web design looks similar to that of 1qmining.com. A platform that will use another platform's design is looking to fool investors. Thanks to our keen eye, we will expose all the red flags we found on the platform.
Hundreds of crypto investors have lost funds with this cloud mining service provider. Records show investors have lost millions of dollars with the platform. And this is why we need to expose it to protect the Crypto industry.
You should invest in practical cloud mining platforms with a proven track record. These platforms offer investors a chance to mine with ease. Go for platforms that are backed by the Crypto mining community.
For those who have already signed up, we can only feel sorry for you. However, we will help you find out what to look for in an actual cloud mining service provider. Unfortunately, Cryptominingnz.com is far from being a reliable platform.
Your first step before signing up is doing due diligence. Find out what others are saying about the particular platform. And this will help you make better and informed decisions. You can also let us know whether we can review a platform for you.
It seems Cryptominingnz offers two different pricing models. First, there's a 30 percent off available on the pricing page. Second, the open accounts promise members daily payouts. These include Bronze, Silver, Gold, and Diamond.
Bronze
It's the most basic account, with investors having to deposit $100. The account offers a 4 TH/s hashrate with free 24 hours maintenance. It's a minimum contract with no details of the available miners.
Silver
For the silver account, members get a promise of having daily payouts. However, the account features are not displayed, making us question their intent. You have to deposit $205 and get a 5 TH/s hashrate.
Gold
With the gold account, members have to deposit $840. You get a hashrate of 30 TH/s. It's clear the platform mines Bitcoin based on the hashrate. Still, the platform should mention the miners they use for their operations.
Diamond
It's the most exclusive account and offers the highest hashrate and possible rewards. In addition, the account comes with an account manager and a 35 percent bonus. Unfortunately, we aren't sure where members get to choose trading accounts.
For the cloud mining contracts, the platform offers four contracts divided into two categories. The arrangements are one, two, five, and lifetime with the five years having two classes. There's also a promise of daily payouts in BTC and ETH.
Some of the features include a minimum hashrate of 10 GH/s for the first three contracts. However, the platform claims the contracts are only available for a limited time. Soon, the platform will have to phase out some of the contracts.
It's another way of ensuring no one will get to withdraw funds when the vesting period ends. Claims of offering daily ROI are not credible as there are no investors with proof of withdrawal.
For the trading account, the platform claims to offer flexible leverage of 1:3 to 1:100. You also get copy trade features and contract pledging. What we find funny is the claim of earning up to 95 percent in 60 seconds.
On the homepage, a man is sitting on a desk that looks like the owner. Just below it, we can see the man taking a call. Its imagery made it look like the owner is a successful miner. The image gives false hope to naïve investors.
You don't get to see the full names of the person or the firm's location. We don't know where their mining farm is located. Despite claiming to reside in New Zealand, the website's IP shows different locations every time we check.
Cryptominingnz is an anonymous cloud and forex trading platform. Unfortunately, with anonymity comes the high risk of losing funds. And this is the reason why investors need to shun using any of their services.
There's no information on their registration or residence. We know nothing about the owner or the team behind it. There are no professional profiles of miners available anywhere on the web. It makes the platform a high-risk cloud mining platform.
Cryptominingnz is not a compliant trading platform and faces warning from several regulators. The first regulator to officially blacklist the platform is FMA. Once a regulator adds you to their warning list, your days are numbered.
And this is why you need to stay away from the platform to avoid any risks. The Financial Market Authority wants to protect investors from losing funds. Complaints reached the regulator after the platform failed to comply with regulations.
There's no way Crypto Mining NZ will comply since they offer unrealistic services. You should ensure the platform you're about to invest in is compliant. Without any regulatory framework, the platform is free to operate as they wish.
When trading with forex, ensure the platform gets its license from reputable platforms. These include ASIC, BaFIN, CFTC, CySEC, FCA, NFA, and SEC. Other notable regulators have CNMV, CONSOB, FINMA, FMA, SFC, and more.
Regulators ensure all parties follow protocol and guarantee a safe investment environment. Therefore, the platform should also produce documents for investors to verify. These documents must match the details of the regulator's licensed entities.
Despite claiming to respond to emails within 3 minutes, it's all false. The platform tries its best to control the communication process. You will notice that there's no phone number listed on the platform.
When you are choosing which platform to invest, check their support structure. Go for platforms that offer direct lines of communication. For example, we recommend using platforms that provide investors with live chat support with a live agent from the company.
Members are funding their accounts using several methods. To ensure everyone gets to deposit funds, the platform avails several different depository channels. These include bank and wire transfers.
You can also deposit using various crypto coins such as Bitcoin, Dash, Ethereum, Litecoin, USDT, and more. We, however, are against it as no one gets to withdraw funds from the platform. And this is why you need to stay away from it.
Your funds are far from secure with a platform that dodges compliance. First, the platform is pooling funds in one account. It means segregation of accounts is not taking place. Second, the platform doesn't offer insurance cover for deposits made.
We won't recommend a platform already on the warning of the Financial Markets Authority. So it would be best if you stayed away from it.
The best way to invest using cloud mining is by having proven platforms tested by crypto experts. It's the safest way to invest in crypto mining.
If you have any questions, feel free to email us.
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