November 9, 2020

Tesla Mining Limited Review

Overview

Tesla Mining Limited is not a subsidiary or in any way related to the hugely popular Electrical Car manufacturer, led by Elon Musk. Rather this is another business that shares the name of the visionary that was Tesla. While not as popular or big as the car manufacturer, Tesla Mining has been around for less than a year now, starting only in 2020. They started working with BitCoin, back in the day, or so they claim. They claim to be working towards creating an ‘amazing, safe and reliable cloud mining’ experience. However all this from the origin story of Tesla Mining isn’t completely verifiable. And one of the reasons for that is the obvious problem of reaching out to them and clearing up our doubts. For a financial services provider, it is weird that they have no phone numbers listed on their website. Not even numbers that are active only a certain time of the week. Rather you find the usual contact information form, along with a generic looking email ID. Read the full Tesla Mining limited review here.

About Tesla Mining Limited

Tesla Mining seems to be located at 12 Queensway, London in the UK. It even shares a picture of what seems like the building, along with a certificate that shows that they are incorporated. While they are incorporated as a company, we have no clear information if they are registered with the FCA too and are allowed to offer the services that they advertise. Basically this is the claim of the company – you start off by paying for ‘hash power’ and then the company will mine cryptocurrencies for you and lucky for you, you will only get the profits. You can withdraw your money at any time that you wish. After you have paid once, you do not need to keep paying to profit from the investment that you have made. But this is the claim it makes, while the internet is full of forums, and blogs of people complaining as to have this is just a scam for people looking to get rich quick, as they haven’t been able to withdraw their money after depositing. 

The company seems to be unregulated, and tries to side step that question in the FAQ section as well. Coming to the website itself, it is a rather hacky looking website.

The Verdict

Given that the company is not regulated, or at least doesn’t prove that it is. And also given that they have loads of complaints against them on the internet, and no response from them. We think it would be highly risky to invest with them.