Bitcoin Scam Site Warning Coinomia – The Merkle

It has been a while since we last looked at bitcoin scam sites, even though they are even more common than ever before. Coinomia is another cloud mining Ponzi Scheme that aims to defraud users. The company makes some very bold claims which are not backed by any solid or credible evidence by any means. Avoid this company at all times and invest wisely.

A lot of companies who claim to be active in the world of bitcoin and cryptocurrency require a lot of budget to set up mining operations. That being said, it would appear there are so many companies active in the world of cloud mining bitcoin, even though there are very few legitimate offerings available. Coinomia is definitely not a legitimate mining company, as they provide no evidence whatsoever.

When one opens the Coinomia website, it becomes evident the company is trying to trick as many users into investing as possible. The company also claims to be mining since 2014, yet there is no proof of this claim being true by any means. It is possible this may have taken place under a different name, although it is unclear which company that would have been. Rest assured this is the first sign of Coinomia being a scam.

Users who sign up with Coinomia will get 3TH/s for signing up. Users who prefer to mine Ethereum will receive 0.58 MH/s of hashing power. It is rather unusual to see companies give away such large amounts of hashing power in exchange for US$100, as it requires a fair amount of hardware to provide these speeds. Then again, Coinomia has no mining hardware in the first place, and all of this free mining power only represents an update in the database.

To top it all off, the mining plan comes with 8% referral commission. The goal of Coinomia is to get users to invite as many people as possible to make sure the people running this cloud mining scheme can fill their pockets. More expensive plans are also available, ranging from US$1,000 to US$10,000. It is rather odd to see these prices not listed in BTC or ETH value, but then again, this is a scam site after all. More expensive plans result in higher referral commissions, which is absolutely bogus.

What is even more troublesome is how Coinomia positions itself as being a mining application, rather than a cloud mining company. They also claim any device or gadget can be used to mine cryptocurrency and earn these returns. That is a very strange business model, considering the company claims to have ASIC chips and mining equipment located in data centers around the world. If that is the case, why do users need to download this software? Very strange indeed.

Not much information can be found about the company itself either. Although Coinomia Technologies LTD has an office address listed on the website, it is doubtful that location houses any office related to this business. Moreover, there is no company registration number, although the team would probably be able to present a company number when requested. All it takes is a bit of cash and the paper is issued automatically. All things considered, it is best to steer away from Coinomia and not lose your money.

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Bitcoin Scam Site Warning Coinomia - The Merkle