Hitmine Reviews 2021
Crypto mining has become popular in the past several years. However, in the early days of crypto, specifically Bitcoin, not many people were interested in mining, so the term wasn’t used that much.
As the popularity grew, more and more people saw the profit potential and started investing in mining equipment. The increase in mining power across the globe leads to a problem where people would need to invest a lot of money into mining. They did that hoping to be on the receiving end of the rewards aiming to have a quick return on investment and start making a profit.
In recent years, companies have found a way to mine crypto and profit from renting their hashing power. Such services are called cloud mining. Essentially, it is a company that rents its computing power to customers to please both sides. The company charges a fee, and the customer doesn’t need to spend thousands on rigs.
One of the many cloud mining companies on the market is Hitmine, and I’ll be taking a look at it today.
- What Is Hitmine?
- Hitmine Overview
- Hitmine Pricing and Fees
- How to Use Hitmine?
- Is Hitmine Safe?
- Is Hitmine a Virus?
What is Hitmine?
As it says in the intro, Hitmine is a cloud mining solution for people that don’t want to invest in mining rigs. Instead, you pay a monthly subscription and rent part of the company’s mining centers. For that, you can mine and make a profit without worrying about the hardware or how long it would last, keeping it cool, etc.
It’s a sweet deal, and looking at the list of features, Hitmine seems like a decent option.
On the surface, Hitmine seems to tick all the right boxes that would make you think that it’s a good option. However, when you compare Hitmine with other cloud mining companies, things don’t seem all too different.
The best technology, high quality, and all that kind of marketing talk that companies usually do are laid out across Hitmine’s website. This doesn’t mean that Hitmine is bad; I’m just saying that things are more or less the same.
A generally nice thing to have is the affiliate program. If you get people to mine through your invitation via a referral link, you get a bonus. I’ve seen my fair share of affiliates in the past, and the numbers that Hitmine seems to offer are way too good to be true.
The reward percentage depends on the affiliate plan you choose. When you get someone to mine through your invitation, you will get a certain percentage from the profit that person makes. For example, there is a 100% affiliate plan where if someone starts using Hitmine’s services through you, the reward you’ll get will be equal to the profit the person makes. Don’t get me wrong, that is a lovely number and, like I said, almost too good to be true.
The pricing and fees are where you will notice a few more strange things that don’t inspire too much confidence.
Hitmine Pricing and Fees
I’ll start with the pricing, which may seem fine until you start to dig in a bit deeper. Hitmine has 4 pricing plans, and each one is different depending on the amount you pay.
Each plan costs differently, of course, and with that, you get a different amount of profit per day and a different percentage from the affiliate program. If you do the math based on how much profit each plan brings you daily, it comes to around 10% of your monthly profit going to Hitmine. This doesn’t take into consideration any of the affiliate rewards you may get.
So, 10% out of the total profit would be for Hitmine each month. Those are not bad numbers and may get people to hook up and start mining. Keep in mind that you pay in advance, so in theory, you should be able to return the initial investment in about 3-4 days. Everything after that will be pure profit.
The biggest problem I see here is the lack of information regarding the mining power that Hitmine offers. The pricing page includes the prices for each plan, the affiliate percentage, and how much you would get each day. Unfortunately, all of that is slightly shady for several reasons.
For starters, any decent cloud mining service would outline the hash rate that you would be getting for each plan, which leads me to the second reason. If you have even the slightest knowledge of mining, you will know that things aren’t fixed all the time. The numbers change, like prices, difficulty, profitability, etc. So with that in mind, it’s kind of difficult for a company to guarantee a fixed profit rate.
Then there are the maintenance fees or the lack thereof. Hitmine has no fees for maintaining the mining servers, which is even weirder. Any other cloud crypto mining service has a small fee charged to each user. So one could argue that Hitmine may take a chunk out of the price you pay to use the services as a fee. While that may be true, I’m still a bit skeptical.
How to Use Hitmine?
Based on what it says on Hitmine’s website, things should be pretty straightforward. Choose your plan, enter your Bitcoin address, sign up, and you’re good to go.
If you reached this far into the review, you probably know my thoughts on Hitmine. With that said, I wasn’t too happy about trying the service with my own money, so I did a little digging.
Is Hitmine Safe?
I may have trust issues and don’t trust review sites where allegedly “people” sign up to write reviews, so I took the forum road.
In most cases, I read that Hitmine is a scam, and multiple people were outlining different experiences.
One situation that most people mention was the fees. Allegedly, Hitmine has fees that the company claims are maintenance fees, opposite what the website says. However, users are not introduced to those until they want to make a withdrawal.
There is a minimum withdrawal not mentioned on the site, and once you reach that, you can ask for your profits. The company claims that it may take up to 24 hours for users to receive the payments. To receive it, you would need to pay the maintenance fee, which is where the problem is. Most people claim that the receiving address changes after paying the fee, and the support team goes silent.
Is Hitmine a Virus?
Technically no. When you sign up for Hitmine, you won’t be required to download anything which can be a virus, meaning that you are safe from that aspect.
You can guess what I’m about to say. I wouldn’t recommend trying Hitmine.
The service has some bold claims and plenty of marketing that makes it look like the most profitable cloud mining service on the market. But, unfortunately, a lot of things on the website don’t make sense. On top of that, plenty of users online have a terrible experience, which is why I would stay away from it.
There are plenty of other cloud mining services that won’t bring you as much profit as Hitmine claims but are safe and legit.