October 30, 2020

BitFXMining Review

Overview of BitFXMining:

The BitFXMining claims itself as the world’s leading hash power provider. The same hash that is used in cryptocurrency mining. The broker claims to be operational and registered in the United States of America. It provides a total of six investment plans. That claims to provide 150% of daily Return On Investments. It also claims to offer per day instant withdrawals. However, we have many concerns about this broker and all of them will be generously discussed in this BitFXMining review.¬†Read the full BitFXMining review here.

About BitFXMining:

The provided six investment plans are Starter, Economy, Bronze, Silver, Gold, Platinum. The initial investment to avail benefits of these six plans is $250, $500, $1000, $1500, $2000, and $5000 respectively. It claims to offer 150% daily or 1050% weekly Return On Investments. 

However, the broker is not regulated cryptocurrency mining provider. There are several problems with it and they are discussed here. 

The brand BitFXMining is an anonymous broker. It does not share any information about its owner, from where it operates and no physical address is provided. While checking with Alexa portal, we have found out that there is very limited traffic arriving at BitFXMining’s official website. And most of them from a particular area in the world. It is suspicious as only operaters of the website visiting this site. Furthermore, we have checked with several reviewers and clients of BitFXMining. And we have received many negative feedback about it. Also, most of them are claiming that BitFXMining has scammed them and does not allow withdrawals. The broker provides cryptocurrency services that are not fully regulated yet. Also, crypto mining and trading is a new trend in the market and scam brokers wants to encash this opportunity. The broker is running the High Yield Investment Program. HYIP is nothing but a program that is designed to show higher gains with fewer investments and in a short time. Also, it can be traced that the broker is running a Multi Level Marketing Ponzi scheme. Such schemes run by the scam brokers as new clients invest heavily and then that investment is distributed to old clients. And the chain continues. It works till new funds are available and stop once old clients ask for their profits. Furthermore, the broker lies about its origin as its server only situated in the US but it operates from Panama. 

Is BitFXMining scam or legit?

The broker is operational from Panama and it is unregulated. The broker is a potential Australian trading scam. The reasons are it runs MLM and HYIP program to lure traders. No withdrawals are processed by it. Trading information is limited.