GoMining.com claims to be a platform that presents new and creative methods in cryptocurrency mining with its innovative approach to Bitcoin mining. By using Non-Fungible Tokens (NFTs) and its own GoMining token, the platform shares to make cryptocurrency mining easier and more profitable for a larger audience.
What Is Gomining.com?
GoMining.com is a platform that makes cryptocurrency mining easier, It allows users to earn daily rewards with digital miners supported by real data centers. The platform offers multiple products, including the GoMining Token (GMT) for payments and NFT maintenance, NFT Miners which are virtual miners that mine Bitcoin daily, and veGOMINING, a governance token that allows users to vote on rewards and earn extra.
Scam Overview
Some people have cautioned that GoMining.com might not be trustworthy and could be aiming to attract new investors with the promise of high profits. Even though many users have had good experiences, Reddit users say :
It’s basically a pyramid scheme. The money people pay them to set one up goes to paying the output. Better yet if you don’t withdraw then that money can be used to pay someone else who wants to withdraw big. It just takes a few people to withdraw big or people to stop putting money in for the whole thing to fall apart
Source Reddit
How Does It Work?
GoMining offers a different way to mine Bitcoin using NFTs (Non-Fungible Tokens) linked to real mining equipment. Here’s how it works.
- Buy NFT Miners: Users purchase NFTs that represent virtual miners. These NFTs are connected to mining equipment located in GoMining’s data centers.
- Daily Mining Rewards: Each NFT owner gets daily rewards based on the amount of Bitcoin (BTC) mined by the physical equipment linked to their NFT. This allows users to earn Bitcoin daily without needing to manage hardware.
- Maintenance and Upgrades: GoMining focuses on all maintenance and upgrades for the physical mining equipment.
- Payment with GoMining Token: Users can use the GoMining Token to cover maintenance and electricity expenses, This token serves other purposes within the GoMining system, like purchasing NFTs, paying for game features, and more.
- Tokenomics: The GoMining Token operates on ERC-20 and BEP-20 standards, which makes It compatible with various blockchain networks.
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Is It Legit Or A Scam?
Users on Reddit say that Go mining is a scam. You won’t earn back what you invest. and why would anyone pay you more than they make from mining themselves, Here are more Red Flags you should consider.
Ponzi Scheme
Users on Reddit say that GoMining is a Ponzi Scheme. If users don’t withdraw their money, it can be used by the platform to pay others who want to make large withdrawals, which is why only some people can withdraw their money.
Profit Decrease
Some users on Trustpilot have mentioned that they initially made good profits when they first invested in GoMining. However, over time, their profits decreased by more than half, which left them feeling disappointed.
Disappointed users
Users on Trustpilot have stated that after acquiring their 16th miner, they received no returns. They also mentioned, ‘If a $300 NFT miner doesn’t even earn me 0.01 cents a day, then it’s not worth it.’ These comments indicate significant user disappointment and suggest that the investment may not be worthwhile.
Negative Reviews
There are multiple negative reviews about this company. Users suggest staying away from it due to poor support response, indicating a lack of trustworthiness.
How To Spot These Scams?
To identify potential scams like GoMining.com, here are important things to consider.
- High Return Warnings: observe cryptocurrency platforms that promise very high profits with little risk because many of these turn out to be scams.
- Transparency Issues: Scammers often don’t explain clearly how their business works or where investors’ money goes. examine for transparency and fully understand any investment.
- Pyramid or Ponzi Schemes: Be careful of investments that depend on recruiting new investors to pay earlier ones. These schemes collapse when new investments stop coming in.
- Promises of Guaranteed Returns: Any investment that guarantees returns is likely a scam. Real investments always carry risk, and returns are never certain.
- Negative Feedback: Before investing, check reviews and feedback from other investors. Many negative reviews, especially about problems with withdrawing money, customer service, or decreasing profits.
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Jason Thomas is a Computer Science student specializing in AI & ML, dedicated to safeguarding individuals from online threats. Passionate about exposing internet scams, Jason spends his free time identifying and reviewing various fraudulent activities and unethical materials. With a unique blend of theoretical knowledge and practical application, he is a valuable contributor to the fight against online fraud. His commitment to technology and programming fuels his mission to protect people from scams and enhance internet safety for everyone.