This review clearly shows that Elios mining is a fraudulent program that is not about real cryptocurrency mining.
What is Elios
Its official website says that Elios is a company that is focused on cryptocurrency mining. It allegedly has mining equipment in different countries.
Elios say they are mining Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, Ethereum Classic and Litecoin.
The mining operation allegedly is very profitable because they claim you can make 3% daily returns on your investment and almost double your money in just one month. The minimum deposit is 1 USD.
On top of that you can earn money by referring other people to Elios, they offer 13% commissions on deposits across two levels below you.
Is Elios a legit opportunity to make money thanks to cryptocurrency mining?
Unfortunately, Elios is not a legit crypto mining program, it is a disgusting scam. If you send them money, you will lose it.
The short explanation is that it is impossible to make 3% daily in crypto mining. Even 1% daily is impossible.
Now let us explain in details why Elios is a scam. We realize that it is hard to find out if crypto mining is profitable and how much you can make in it.
This is because the profitability of crypto mining depends on how much you pay for hardware and electricity. You see, with the same equipment you can be losing money in Bitcoin mining and earning in another country. Because the price of electricity plays a huge role.
So, for example in the US you are likely to be barely profitable if you start mining with a mining computer, in countries like China you can make decent money in mining. This is why crypto mining is concentrated in countries like China and Russia, they have cheap electricity.
Now, back to the Elios scam. No matter the place in the world, you just can’t make 3% daily in crypto mining. It’s just simple math. When you take into account hardware costs and electricity costs, it is just impossible to double your money in crypto mining anywhere in the world.
This means that Elios must be a scam, and indeed, it is.
How Elios really works
We suspect that Elios started as a Ponzi scheme. Which means they never were mining cryptocurrencies, they were just playing an illegal game with money they got on deposits. They were taking money from newer members and giving it to older clients.
But now we hear that Elios is not paying at all, which means that it is collapsing. It is a pure scam that will steal every deposit people make.
And don’t get fooled by the fact that Elios has a company registration in the UK. Because it is just a registration for tax purposes, authorities do not verify the legitimacy of a company in this process.
In fact, we have seen and reviewed many scams that get a tax registration in the UK. These are fake companies that abuses the UK system to look legit. But you won’t find who really is running these companies, they basically are empty and their addresses are fake.
Elios review – Conclusion
Elios is a scam. It is a fake company that is not mining cryptocurrencies, it is just scamming people and not paying anything. Stay away from it!
If you want to try cryptocurrency trading, begin on a free demo account with a regulated company. Use virtual money to familiarize yourself with everything and see how you can do.
If you decide to invest real money, be sure to understand the risks and to use only money that you can afford to lose.