Are you looking for Crypterra.net review? Here will give you some points on why this mining farm is a scam so you can be aware with the scammy moves by anonymous people who pose as real cryptocurrency miners.
In this day and age, cryptocurrency mining farm are all over the internet. Ever since the blockchain technology started, cryptocurrency scams are infiltrating the worldwide web.
There are people who wants to earn high but there’s more people wants to earn higher than the average by making a fake mining farm. Wherein they take all the people’s fortune and in a blink of an eye, they disappear. Leaving investors at a loss.
This is what happened with Crypterra.net or known to be X-Mining it was established in May 2017 that provided investors a cloud mining solution.
Crypterra Review : What is Crypterra.net?
Crypterra Mining is one of the many cryptocurrency scams in the web world. It was established in May 2017 that provided investors a cloud mining solution. It offered huge hashpower that comes at a low price which attracted tons of investors. The payment for purchase of mining plans are accepted either by Bitcoin or Litecoin.
Who Is Behind The Crypterra Mining Farm?
When you take a look on the Crypterra.net Review website, you can find that they are claiming to be based on Canada, however, on the ‘Who Is’ section, the owner is coming from China. Crypterra Cloud Mining Program only pretends to be a real cloud mining company. Since they have failed to provide their mining farm address. In their data centre page, a clean office space was shown. A picture without the mining rigs and that was even taken from Google.
I have asked their proof of mining farm, however their reply aren’t close to my question and didn’t even mention their location.
So, if they are legit, why would they use such image taken from the internet and wouldn’t even dare to post their real mining rigs?
Also, based on the Crypterra Mining Farm website, it stated that their business is transparent. However, it failed to provide some proof of their team members. The website has shown names of their team members but not the owner of X-Mining. So, it left us confuse as to who is the real owner of such mining farm?
Maybe some of you are asking, ‘Why do you need to know who the owner is, since blockchain is a decentralized technology?’
The importance of knowing the owner, team members and the location is because in that way, we will have confidence as to who are we entrusting our money to. So, whenever they disappear, we can easily report it to the officials.
After naming some of the red flags, let’s take a deep dive to the other fishy area this company has.
What Does Crypterra Has To Offer? Review
The Crypterra Platform offers Bitcoin, Litecoin, Ethereum and Zcash mining.
For Bitcoin mining, it has to be two (2) years contract with minimal hashrate of 250.00 GH/s. They offer the lowest deal of only $32.00. On the other hand, Ethereum mining is the same as Bitcoin with two (2) years contract with minimal hashrate of 4.00 MH/s for only $30.00.
For mining Litecoin, the contract will be in two (2) years with a minimal hashrate of 10.00 MH/s for only $35.00. Lastly, for mining Zcash, it should also be in two (2) years contract with minimal hashrate of 50.00 H/s for only $35.00.
In the company website, they stated that mining rigs users rent to use consumes little electricity. These rigs have cooling systems powered by GalxC Data Centre Cooling. This system is purposefully designed for important applications where specific area of air conditioning is needed. Hence, that is one reason that it is cheaper compared to other mining platforms.
When the Crypterra website, first launched there was no maintenance fee since it was in their promo period. But after the promo period, daily maintenance fee for mining Bitcoin applies.
Regarding payouts, investors will receive their payouts in different currencies. Crypterra withdrawal is a minimum of US $10.00.
Request for refund doesn’t apply here. The company states that when investors purchased a mining plan, purchase will be final.
Just like any other scams in the cryptocurrency market, it has a referral program. When a Crypterra member wants to participate in this program, they’d be given a referral link.
A user will be given 15% when a purchase has been made by their referral. Then 20% on the 2 levels below.
Why is Crypterra a Scam ? Major Points
Honestly, we don’t need to prove why is Crypterra Review website is a scam since negative comments from Crypterra members have flooded every inch and corner of cryptocurrency forum websites.
We can see comments that their experience with the cloud mining platform is bad.
One member has stated that “he paid ethereum hashes with 297 confirmations. However, the Crypterra system didn’t add the hashes on his account. Plus, customer service did not respond.”
See, that is only one of the many negative reviews on the cloud mining platform.
So, in this review we will elaborate more reasons why you should not trust Crypterra and the similar platforms.
First, Crypterra.net had offered a big hash power that comes at a low price compared to the legitimate cloud mining companies. Though, the mining rigs consume a minimal amount of electricity. It still cannot be attainable. Hence, the low price offering is one of the many red flags of this scam site.
Second, since the company have offered a huge hash power at a low price, it just mean that they pay the early investors using the payment of new investors. This structure is called a Ponzi scheme which has been proven to have a shaky foundation.
The pyramiding structure can only be good in the early years. However, it cannot be sustained in the long run. It only pays a few investors so they can persuade more people in joining the group and will ultimately disappear with the investment of other members.
Third reason why Crypterra is a scam because they have stated that it can pay members 15% as a referral commission. Come to think of it, if the company pays 15% to every member whose referral have purchased a mining plan, it would just add up to the company’s instability.
The X mining customer service is bad. Based on every forum websites, we can see that every one member complains about not getting the right response and not getting any response at all. If they are a legit company, they would take care of their members through a good customer service support team. But looking at this, it seems that they have none.
And of course, people go crazy with not being paid by the Crypterra platform. They have this hidden withdrawal fee that is very pricey.
Interested to trade Crypto Currencies Safely and Profitably?
Check Crypto Robot 365. Best Bitcoin Signals App in Town! (Regulated)
Read our in depth Crypto Robot 365 know why its #1
Conclusion :- This Crypterra.net Cloud Mining Platform is definitely a scam.
We hope that this Crypterra review will serve as your guide so you can be aware of these kind of scheme which are very popular especially in cryptocurrency mining. Before investing your hard-earned money, take some time to know who are the people behind it and the mining farm location. If you think the offer is too good to be true. Just keep your money.