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Btconline Reviews 2020

Expert Review
Nov 19, 2020

Btconline is a cloud mining operation website. The company is registered in Baltimore, Maryland, USA. Just like many other cloud mining platforms, it offers several plans to choose from so users may pay more for a bigger hashrate and bigger daily revenue or pay a small amount of money for less mining power and smaller daily rewards.

To ensure the potential users that the operation is legit, Btconline is displaying the payouts (rewards) to its customers right on the homepage of the website. Any visitor can click on the BTC address or the transaction hash and make sure that the rewards are paid. However, this feature doesn't save Btconline from red flags and scam accusations. For a number of reasons, many people including the MetaMask employees consider btconline a scam.

  1. Main Features
  2. Fees & Limits
  3. Is Btconline a Scam?

Main Features

If you have ever heard of cloud mining operations, you know the main purpose of this kind of platform. If not, we will tell you. Cloud mining services are provided by owners of large mining farms and offer some hashing power to its customers for rent. The customer chooses the desired amount of hashing power and buys a respective contract. Usually, these contracts have not only a specified hashing power but also a limited time span (for example, one year). The company keeps on mining but gives a portion of its rewards (the size is determined by the rented hashing power) to the customers. As many of cloud mining operations are anonymous and don't disclose accurate and transparent info on their mining farms location and properties, people tend to suspect these platforms to be scams and Ponzi schemes. There were enough cases that only prove these allegations. Actually, it is more profitable to buy BTC than BTC cloud mining contracts. Let's see what we know of Btconline and what services it offers.

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Btconline is focused solely on BTC mining although some of the cloud mining platforms support up to several cryptocurrencies. Nevertheless, there is Ethonline website in existence. It is identical to Btconline, but it doesn't support any coins apart from ETH.

As soon as we proceed to the btconline.io website, we get the offer to earn up to 30 Satoshi per day for free. In other words, the website claims that it gives free BTC away.

In order to start mining one needs to provide a wallet address for rewards and set a PIN. This information can be inserted on the homepage right under the line promising 30 Satoshi for free. Inserting the address and setting the PIN takes the user to a dashboard. It has four sections: Account Info, My Finance, Visits, and Affiliates. The first section contains a fake balance that gets increased. Even if the wallet has no coins in it, the website displays some Satoshi. The writing under the balance reads: " Want to earn much more? Just upgrade your plan and earn up to 0.0797 per day more than you earning now!" The account info contains the ID, the plan, and the BTC address. Users can add their email addresses there. The Affiliate Data section displays an affiliate code and a number of affiliates.

Another way to start is by ordering one of the plans. 

There are 5 available plans to choose from:

Basic (it costs 0.01 BTC, the daily revenue is 0.00044444 BTC, the ROI time is 23 days, the affiliate bonus is 12%)

Standart (it costs 0.05 BTC, the daily revenue is 0.0025 BTC, the ROI time is 20 days, the affiliate bonus is 15%)

Enterprise (it costs 0.25 BTC, the daily revenue is 0.01666667 BTC, the ROI time is 15 days, the affiliate bonus is 17%)

Professional (it costs 0.7 BTC, the daily revenue is 0.03333 BTC, the ROI time is 21 days, the affiliate bonus is 20%)

Platinum (it costs 1.2 BTC, the daily revenue is 0.08 BTC, the ROI time is 15 days, the affiliate bonus is 40%)

It is a bit strange that Platinum and Enterprise plans have much faster ROI but what really doesn't look normal is that Enterprise, Professional, and Platinum plans are promoted as special offers with discounts for over 2 years in a row (meaning that it's happening almost starting with the launch of the platform). Thanks to this “special offer." Enterprise plan can be bought for 0.2 BTC, Professional plan costs only 0.5 BTC, and the Platinum plan is 0.9 BTC. While the user is on the homepage, there are notifications popping up in the lower right corner of the screen telling that someone from this or that country (always different countries) has bought one of the plans. It happens once a minute. This trick is supposed to trigger FOMO and make the site visitors want to buy a plan as soon as possible.

After clicking on one of the plans, the page loading begins. There is the writing at the top of the screen. It reads "Sync data with Blockchain, please wait". Considering the fact that the plan is not even bought at that point, it's hard to tell what data Btconline has to sync with Blockchain.

Under the list of offered plans, there is a table showing the payouts received by the users of Btconline. The table contains such information as the BTC wallet address, the transaction hash, the type of order, the time, and the amount of payout. The hashes are clickable so anyone can see what's in the wallets of Btconline users. The activity of the owners of wallets differs from address to address. It seems that the list is updated with a delay. At the moment of writing this review, there is 1 payout with a "one day ago" mark, 2 "two days ago" payouts, zero "three days ago" payouts, and then dozens of "four days ago" transactions. You won't meet the same address in the list twice.

Under the table with transactions, there is an announcement of the affiliate program. It claims that the user is paid 10% each time her/his affiliate upgrades the plan. If you scroll the homepage down you will see a section with 5 short positive reviews by alleged Btconline users. This section hasn't changed in years. In 2018 the section contained the same reviews by the same people. Below these comments, there is the FAQ section.

Fees & Limits

Users cannot withdraw less than 0.006 BTC. The minimum payment required for the plan upgrade is 0.01 BTC. The fees are not specified anywhere. 

Is Btconline A Scam?

There is disturbing feedback from the alleged users that make us think that it is possible that Btconline is a scam. Some people claim that they cannot withdraw the coins as the status of the operation is "pending" and not changing. There are reports over the web of being able to withdraw only once.

As you could learn from the "main features" chapter of this Btconline review, the website seems suspicious itself. For instance, in the FAQ section, one can read that the best profit is possible thanks to "mining with the latest algorithms". This ridiculous phrase shows that the Btconline team doesn't even understand the basics of Bitcoin. The location of data centers is not disclosed. The Baltimore address provided by the platform is also tied to another mining platform —  Bithubpool which website's design is almost identical to Btconline and Ethonline. No real info about the team is available. The lack of the platform's official social media is another reason for distrust. It is better to stay away from Btconline.

The opinions and assessments expressed in the text are the views of the author of the article and may not represent the position of Cryptogeek. Do not forget that investing in cryptocurrencies and trading on the exchange is associated with risk. Before making decisions, be sure to do your own research on the market and the products you are interested in.
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User reviews
Mo der 20 November, 5:39 PM
5.0

The cloud minning is the future I guess, THKS guys for a working platform.

Rero 19 November, 9:45 PM
4.0

Is it good? I've just found the cloud minning.

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Country: USA
Launched: 2018
Site: btconline.io
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Country: USA
Launched: 2018
Site: btconline.io
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Btconline Reviews 2020