X-Mining Review: A complete Scam?

/X-Mining Review: A complete Scam?

X-Mining Review: A complete Scam? 2018-04-23T14:29:48+00:00
X-Mining Review: A complete Scam?

Update- April 16th, 2018: X-Mining/Crypterra (crypterra.net) is no longer live!

Note: X-Mining used to be known as Crypterra, however, the company has re-branded from Crypterra to X-Mining and users experience problems with withdrawals and support. The website: crypterra.net in not live. Don;t invest money you can’t afford losing. 

Update – March 4th, 2018:

YOU SHOULD PROBABLY AVOID X-MINING FOR NOW. HERE ARE SOME EMAILS AND COMMENTS THAT WE’VE GOT SINCE THE REVIEW WENT LIVE:

Something is really wrong with this company! I recommend you to join the group if you are interested in knowing more from real X-Mining clients:
https://www.facebook.com/groups/1838810539751970/

SOME OTHER OPTIONS FOR CLOUD MINING:

HASHFLARE, MINERGATE, GENESIS MINING

Thanks,
Mark


X-Mining Market themselves as one of the legit cloud mining service providers that offer a range of services suited for both businesses and individuals interested to venture into cryptocurrency mining. They claim to have top of the range mining equipment that efficiently mines cryptocurrencies.

What is Cloud Mining?

The concept of cloud mining is similar to that of cloud computing whereby you use the cloud infrastructure and technology of a cloud service provider and then pay for what you’ve used. In cloud mining, you use the mining equipment (hardware power) of a cloud mining provider to mine cryptocurrency such as Bitcoin or Ether without purchasing your own operating hardware, electricity and other maintenance costs. This saves one with the technical expertise, cost, space and time that would have been incurred in acquiring his or her own hardware.

X-Mining Review

What is X-Mining?

  • X-Mining is a user-friendly platform that offers dedicated mining services to all users regardless of their age, technical experience or location.
  • The company is associated with a team of experts experienced in cryptocurrency who are focused on fulfilling customer needs while also minimizing the risk and cost associated with the process.
  • Launched in July 2017.
  • The company is registered in Ireland but have their major data center and engineering support in Hong Kong.
  • Their customer support is based in Alberta, Canada.

What services does X-Mining offer?

  • The platform offers cloud mining services for a wide range of cryptocurrencies which include Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Zcash, and Dash.
  • The company also offers dedicated mining services that are personalized for the user with a personal manager who ensures the equipment delivers for the customer profitably for an unlimited term of the contract.
  • The company also has an online shop where one can purchase a miner such as the Bitmain Antminer.

Team behind X-Mining

X-Mining has a talented team which includes:

  1. Ho Hsueh (Founder) – Has a Bachelor’s degree in Mathematics with a five-year experience working in cryptocurrency. Has a passion for cryptocurrency and prioritizes the needs of the customer over company profits.
  2. Ronald Gilmore (CEO) – Organizes all business processes of the company and ensures company’s projects run smoothly.
  3. Kang Tung (General Engineer) – Has a Bachelor’s degree in engineering. Is responsible for ensuring proper functioning of XMining mining equipment.

X-Mining Supported Countries

  • X-Mining is supported globally.

X-Mining Payouts. How do they work?

  • Payments are made on a daily basis but are generated only after accumulating a predefined minimum withdrawal amount.
  • The minimum withdrawal amount for January 2018 was 0.0065 BTC.
  • X-Mining has a no-refund policy after a contract or purchase has been made hence one is advised to be sure before making a payment.
  • The minimum payout limit is $10.
  • X-Mining doesn’t have any withdrawal charges.
  • X-Mining advises its customers to withdraw their mined coins as soon as possible since the platform doesn’t have an integrated wallet for storing coins.

X-Mining Contract and Pricing

  • X-Mining has different pricing for their contracts depending on the chosen cryptocurrency and the hashrate.
  • The contract period is currently two years for all cloud mining contracts and is unlimited for dedicated mining.
  • The mining contracts are open-ended which implies that users of the platform continue generating profit as long as their contract caters for operational costs.
  • Each cryptocurrency is also divided into starter, enterprise, professional and dedicated which all have different prices.

This table shows the various contracts offered and their corresponding prices.

Cryptocurrency/Algorithm Type Mined Coin Pricing (USD) Contract Period (Years) Uptime (%) Minimum Hashrate
Starter SHA-256 Bitcoin 20 2 99.9 100 GH/S
Enterprise SHA-256 Bitcoin 200 2 99.9 1 TH/S
Professional SHA-256 Bitcoin 2,400 2 99.9 12 TH/S
Dedicated SHA-256 Bitcoin 20,000 2 99.9 100 TH/S
Starter ETH Ethereum 19 2 99.9 1 MH/S
Enterprise ETH Ethereum 190 2 99.9 10 MH/S
Professional ETH Ethereum 1,900 2 99.9 100 MH/S
Dedicated ETH Ethereum 20,900 Lifetime 99.9 1,100 MH/S
Starter LTC Litecoin 35 2 99.9 5 MH/S
Enterprise LTC Litecoin 350 2 99.9 50 MH/S
Professional LTC Litecoin 2,100 2 99.9 300 MH/S
Dedicated LTC Litecoin 21,000 LifeTime 99.9 3,000 MH/S
Starter DASH Dash 30 2 99.9 10 MH/S
Enterprise DASH Dash 300 2 99.9 100 MH/S
Professional DASH Dash 3,000 2 99.9 1,000 MH/S
Dedicated DASH Dash 30,000 2 99.9 10 GH/S
Equihash Zcash 35 2 99.9 50 H/S

Buying Methods

  • To participate in buying a contract, you just send your payment using the available payment options after which they will receive your payment and update it on your profile. You can then start mining.
  • The available buying methods include Bitcoin, Litecoin, and Ethereum. The company is committed to providing other methods such as the use of credit cards as soon as possible.
  • X-Mining has a strict ‘no fiat money’ policy.

Available Cryptocurrencies

  • X-Mining offers mining services for a variety of cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Zcash, Dash, and Bitcoin Cash.
  • One is allowed to mine multiple cryptocurrencies at once in either cloud or dedicated mining.

Are there verification measures at X-Mining?

  • The platform has an authentication procedure for newbies registering in the platform for the first time. This includes the provision of a valid e-mail address and other Identification information.
  • The platform also employs a wide range of security controls such as the use of a username and password for existing users for verification purposes in order to protect the integrity of data stored in their data center.

What are the X-Mining fees?

  • Fees are charged on a 24-hour basis and differ from one cryptocurrency to another. However, some cryptocurrencies such as Ethereum and Dash have zero fees charged.
  • Fees also differ depending on the plan for instance dedicated mining fees are much higher than starter fees.
  • Fees charged are used for mining-related expenses which include technical work, electricity costs, and hardware maintenance costs.

The table shows the fees charged for various cryptocurrency and mining plans:

Cryptocurrency Fee per 24 Hours (USD)
Starter SHA-256 0.02
Enterprise SHA-256 0.2
Professional SHA-256 2.4
Dedicated SHA-256 20
Starter ETH 0
Enterprise ETH 0
Professional ETH 0
Dedicated ETH 0
Starter LTC 0.015
Enterprise LTC 0.15
Professional LTC 0.9
Dedicated LTC 9.0
Starter DASH 0
Enterprise DASH 0
Professional DASH 0
Dedicated DASH 0

User interface- how customers can manage their revenue?

  • X-Mining has a user-friendly platform and customers can manage their revenues or mining operations by using the various sections available in their profile sections.
  • X-Mining keeps their customers up to date on the latest cryptocurrency news using their newsletter which can be subscribed to from the bottom of X-Mining’s home page.

Is X-Mining Safe?

What’s the community trust on X-Mining?

  • X-Mining is a relatively new platform which has been in operation for a few months hence it hasn’t gained proper momentum in the market.
  • However, various stakeholders in cloud mining interested in using X-Mining have praised the service especially for offering a wide range of cryptocurrencies being mined.
  • X-Mining has also been commended for working with the best Bitcoin mining pools in the industry such as minero and dwarfpool.

Is X-Mining Secure?

  • X-Mining uses advanced security measures using Cisco Security devices to ensure the protection of information and networks in their servers.
  • Their data center has efficient and scalable security features and facilities such as redundant power supply, climate control systems and multilayer advanced security systems to ensure proper protection of customer data.

Is X-Mining Legit?

  • X-Mining is registered as a cloud mining platform for cryptocurrencies.
  • It’s important for interested investors to read X-Mining’s user agreement, terms, conditions and privacy policy on their website in order to understand and be informed of the various operation terms of the company.

X-Mining Scam

  • There have been claims in various online forums about X-Mining scam but none has been proven substantially to be true.
  • However, there is scanty information of people who have been using this platform and have made profits out of it hence investors should be cautious and do more research before using it.

How is X-Mining’s Customer Support?

  • X-Mining is dedicated to providing help and support to their customers and has provided an e-mail address and phone number on their website which operates 24/7.
  • There have been reported cases by customers that the provided phone number does not operate but it was later confirmed that the company had relocated from Hong Kong to Canada and the number was later updated.

X-Mining’s Handling Speed

  • The platform is still relatively slow with instances of transactions taking days. However, X-Mining responded to this issue stating that they were finishing the development of an entirely new website that would be more convenient.

How to use X-Mining?

  1. Click on the ‘client-area’ section on the top menu of the site to register into the site.
  2. Deposit money into the platform using the various payment options provided.
  3. Click on the services ribbon on the top menu to choose the mining service you wish to use.
  4. X-Mining offers a profit calculator that can help the customer to choose the best cryptocurrency plan to mine in order to make the highest profit possible depending on his budget.
  5. After identifying the best plan for you, you can go ahead and start mining coins.
  6. To withdraw coins, navigate to your personal profile and follow the procedure to make your withdrawals or any other operations you may need.

Xmining Review Summary

Can I trust X-Mining? The answer is NO (look up). This is because lately, X-Mining has begun addressing issues that they had been facing before which points to a promising future. However, this site is most suitable for beginners and miners who wish to deposit fewer coins as they learn more about it.

Pros

  • Supports multiple cryptocurrencies.
  • Reasonable fees.
  • Uses the most established Bitcoin mining pools such as dwarf pool.

Cons

  • A relatively young company that has not established itself in the market.
  • Keep in mind that most cloud mining sites are a scam, keep an eye open.

Thanks for reading.

We hope this X-Mining review is useful for you. Check out our website for more reviews, guides, and articles.

Leave A Comment4 Comments on "X-Mining Review: A complete Scam?"

  1. shravan kumar
    shravan kumar March 27, 2018 at 8:04 pm

    Crypterra and X-mining is scam

    0
  2. Raymond Gulli
    Raymond Gulli April 8, 2018 at 11:12 am

    exited scam…

    0
  3. Alfonso Riviera
    Alfonso Riviera April 15, 2018 at 10:37 pm

    Huge scam; website is no longer in existence.

    -1
  4. AIMABLE
    AIMABLE April 24, 2018 at 5:52 pm

    This company is completely a scam. Don’t invest in this

    0