Boardminer.ltd is a sophisticated crypto arbitrage trading and mining platform which claims to generate returns of up to 6.4% hourly with little to no risk associated.
This service has been operational for around 2 months as of August 2018 and already has succeeded in scamming a lot of day traders and investors who didn’t have much experience about how cryptocurrencies work. Their website is indeed very appealing and the amount of information although does not provide much insight about their operation, has managed to overwhelm many newbie investors.
This company is an overblown fraud which will pretty much guaranteed to run away with your money. Read our full review to find out why you should never invest with this firm for any reason whatsoever.
License and Contact Details
Companies which are indulged with providing financial services to the retail investor have to get licensed by certain regulatory authorities depending upon their location.
Boardminer.ltd is an ICO which raises the capital needed for trading and mining purposes from the general public and in return depending upon the terms of the contract promises investors certain amount of money.
While we were trying to check the legitimacy of their operations, we could not find any certificates they must lawfully hold. We have confirmed through FCA this firm has never been licensed thereby operating outside the law.
These faceless criminals have featured a registration certificate on their website which is just an effective trick used to appear genuine in front of the potential investors but rest assured they have no right to take money from the investors.
This firm states that it is one of the leading investment solutions globally. Their team comprises of self proclaimed professional trader who have more than 10 years experience.
This firm is supposedly involved in crypto trading and mining, this statement is merely an attempt to attract all type of investors. They state that they follow arbitrage principle which simply put translates into buying in the market where the price is cheap and selling in the market where price is higher.
In recent times due to technical advances arbitrage is almost dead. Their telltale narration does not provide enough data as far as trading approach is considered. We have no idea about what factors they consider and how they spot the opportunity.
There is no information about the risk management techniques employed by them. As far as mining is considered they do not disclose any of the equipments they use and the mining pool they are involved with. Looking at the lack of clarity seems like these criminals did not have enough time to create convincing explanations.
Mining was a great way to earn cryptocurrencies a couple of years ago. Nowadays due to the sheer number of people involved, profit margin in mining is almost non-existent. Unless you have a clear idea about the strategic planning regarding placing your mining farms, the chances of making money is slim to none.
This platform offers 3 investment plans wherein for higher returns you have to ramp up your starting capital. Here are the details of the plans:
Returns – 2.5% Hourly
Duration – 50 Hours
Minimum Deposit – 500 Dogecoins
Returns – 3.2% Hourly
Duration – 50 Hours
Minimum Deposit – 100,001 Dogecoins
Returns – 6.4% Hourly
Duration – 50 Hours
Minimum Deposit – 500,001 Dogecoins
To reap maximum amount of returns this fake investment platform encourages individuals to refer more people to their platform. The affiliates are paid a percentage of deposits made by their clients.
In addition to the commissions the affiliates also gain access to a wide range of promotional tools which helps them gain effective monetization of their traffic. Note that the affiliates do not have to be an active investor in order to get their payments which is why many HYIP monitoring sites are promoting this fraudulent platform.
Deposit and Withdrawal
The minimum deposit is $5 and the minimum withdrawal is $3. The e-currencies accepted by this platform are Bitcoin, Ethereum and Dogecoin. The deposits and withdrawals are not associated with any fees.
They state that the withdrawals are usually processed within 24 hours but can sometimes take longer.
According to the data provided by whois.com this domain was registered on 06/06/2018 and it expires after one year. There is no registrant information available.
This website has a global rank of 942,121 and it ranks 46,067 in Indonesia according to alexa.com.
This service specifically targets users from Indonesia.
Is Boardminer.ltd a Scam?
A big one,
The details of the creators of this so called revolutionary platform is not revealed. Despite all their claims which are too good to be true in the first place, why are they not publishing any verifiable trading history of the trading professional so that the users can be confident about his firm.
It is because these they have no connection with the markets. In case if you were wondering, the main reason why creators have maintained anonymity is to escape criminal prosecution.
Boardminer.ltd Review Conclusion
Boardminer.ltd is just another fake get rich quick scheme. This platform shows all the common traits of a scam and there is nothing presented by them which can act as a credibility boosting factor.
While it is possible to earn decent amount of profits from the market, do not believe the easy money claims presented by a strangers on the internet. Avoid interacting with any unregulated firms to ensure the safety of your funds.