In this review we warn against the KingFinance.trade scam that is made to make your money disappear in an instant.
What is King Finance
Its official website says that King Finance is a cloud mining service for Bitcoin. It means that you can rent mining power for money and mine the cryptocurrency in a cloud without actually running the software on your computer.
KingFinance mining supposedly is very profitable. There are four mining plans with daily returns from 2 to 2.6%. Which means 60 to 78% per month. Right from the start, at least 2% daily from day one.
The minimum deposit is $10.
On top of that, you can increase your revenue by referring other people to King Finance. You can get up to 20% from the deposits made by people under you across four levels.
So, is KingFinance legit, can you make money with this mining service?
The simple truth is that King Finance is a scam that is going to crash and make people’s money disappear.
We learned about King Finance thanks to one of our readers that made us aware that it is just a copy of another scam that we have already reviewed named Watermine. That fraudulent mining program has already collapsed and people lost money.
As you can see in our picture, KingFinance really is just a new version of the same con job. Both websites use the same template and more or less the same content. The same empty promise.
The most important aspect of the KingFinance scam that we have to outline in this review is that this service is not about cryptocurrency mining. How do we know that? Because of the returns they promise.
In real crypto mining you can’t make money since the first day. Hardware costs money and even if you do cloud mining, the service provider has to buy the hardware so you can rent it. Therefore the initial costs can’t be avoided.
In real mining you will have to wait months before you break even. Only then you will start making profits.
So you can be sure that any mining service offering daily ROI since day one is as scam, you can be sure that King Finance is a scam.
And even when you start making profits in crypto mining, it will never be a steady 2% daily or more. It’s just impossible, it’s given by crypto prices and electricity and hardware costs.
In fact, any service in any industry promising 2% daily returns on investment is extremely likely a scam that you should avoid.
How KingFinance works
KingFinace.trade is not mining cryptocurrencies at all. It just uses crypto mining as a fancy term to lure people. Behind scenes it is running an old Ponzi scheme that is doomed to collapse.
It means that King Finance just collects money from people and uses deposits from newer members to pay older members. This can never last for long, so it always is only a question of time before such a scheme collapses.
So, if King Finance has not already collapsed, it will soon. And because deposits are made mostly in cryptocurrencies, people won’t be able to get anything back. It is a house of card waiting for the inevitable collapse.
Once it happens, KingFinance scammers will just move on to another clone and start all over again with the same concept. There are thousands of fraudulent websites like King Finance.
KingFinance review – Conclusion
King Finance is not doing any cryptocurrency mining, in reality it’s an old-fashioned Ponzi scheme that is going to crash hard. Stay away from it!
If you are interested in legit crypto trading, get a free demo account with a regulated broker and start testing with virtual money.
If you decide to invest real money, be sure to understand the risks and to have a proper strategy.