Read our review to understand why Miny is a scam and not a cryptocurrency mining program as it pretends to be. You have to stay away from it.
What is Miny CC
Miny is a cryptocurrency mining service led by Thomas Norberg, the CEO of the company. The company supposedly is based in Hong Kong and it is promising a passive income thanks to mining of bitcoin, ethereum, litecoin and miny.
You are supposed to invest money with Miny into mining and get rewards, up to 19% monthly returns on your investment, which are paid in the Miny token. You also get bonuses when you invest for longer periods of time. The minimum investment amount is 50 USD.
Miny will take care of everything, they say they have the hardware, software and people to run a big crypto mining operation. All you have to do is to give them your money and expect 10% to 19% monthly returns. Is this really a great source of passive income?
Unfortunately, Miny is just a scam, it is not a real crypto mining service. It is an illegal financial scheme that is going to crash, it’s just a matter of time.
Impossible mining rewards
Crypto mining is not simple to understand, because there many factors to take into account. You have costs associated with the hardware and electricity needed to run those computers. Then you have to have somebody who can run the mining software. Last but not least, your profits are also dictated but the current prices of tokens you mine.
But there is a simple fact, currently it is absolutely impossible to make 19% monthly in crypto mining.
It’s just physics. When you combine the prices of hardware, electricity, cryptocurrencies and the mining difficulty, you just can’t achieve profits that Miny CC promises. For a more detailed look at crypto mining profitability you can read this article.
Even if you manage to be profitable in crypto mining, you won’t be profitable since day one, because you first have to cover what you invested into the hardware. And when you later break even, you then can’t expect the same profits day in day out.
Mining is in a way unpredictable, you don’t know when and how many blocks you will be able to mine, so you can’t have the same profits every month like Miny CC offers.
Miny also claim that they use special AI algorithms to improve their mining efficiency, which is a nonsense. Because mining software and algorithms are given by the cryptocurrency network (ie Bitcoin), you can’t use anything else, because you would not be able to connect to the network and be accepted as a validator of transactions.
To sum up this section, Miny is promising mining rewards that are impossible in the real world and it tells lies about its mining equipment.
Even more impossible rewards
Miny offers a way to boost your income, they say you can earn even more by referring people to the system. They pay 132% of your referral’s mining rewards across 20 levels.
Which means that their mining would have to generate more than 44% monthly returns, which is absolutely ridiculous. And that is discounting the fact that Miny would not run the company without profits, so if they pay their clients 44% monthly, they would have to generate even more, which is total utopia.
All these numbers show and prove that Miny is a scam. There just is no other way, because they claim they can generate all those profits in crypto mining, which we have proved to be impossible.
Phony Miny token
To add shadiness to the entire operation, Miny have their own cryptocurrency called Miny. They will pay your profits with this token.
First you should ask why a mining company needs its own special cryptocurrency. Why they just don’t accept payments in normal currencies and why they don’t pay you back in normal currencies?
The reason is simple, Miny is a scam and their token is a fictitious cryptocurrency that is not exchanged anywhere. Miny claim their token is listed on big exchanges, but it is not. It is not listed on a single exchange anywhere in the world.
It means that you can’t trade the Miny token anywhere, it is absolutely worthless. Miny CC is the only entity that accepts and works with the token and they make up all sort of things about it, about its price etc. But it is worth nothing.
Also, Miny claim that their token is 100% backed by real assets. But again, it is a lie, it is not backed by anything, because the whole operation is a big scam, not a real business.
And finally, who is Miny? The company claims to be located in Hong Kong, but they give no address, so it is impossible to verify. There is not even a phone number that you could call and speak to a real person.
It’s the final confirmation that it is a scam. You can’t go anywhere to verify their claims, to see their mining farm. Because the company is not real, it does not exist, it does no real crypto mining. For their video, they obviously went to a farm the belong to some other company.
Should Miny CC be real, they would give the public the address of their mining farm so people could visit them.
We also have to address the fact that Miny proudly links articles about the company that appeared on Bloomberg and Yahoo Finance (there is nothing on Forbes and CCN).
Because articles in those media are just paid press releases. Anybody can buy a press release in those and many other media, it is not real press coverage. These articles were written by Miny and published as paid press releases.
How Miny really works
At this stage, it is not clear if Miny is paying anything at all. If they don’t pay anything, it is a simple scam.
However, there is a possibility that they are still paying rewards. But don’t get mistaken, it does not mean that it is a legit business. It just means that Miny CC operates as a Ponzi scheme. They take money from people and use this very money to pay out profits.
As you can guess, it requires more money coming in on deposits than money requested on withdrawals. This is why Ponzi schemes like Miny always collapse in the end, it is just a question of time.
You cannot know when it will crash, you just know for sure it will. This is one of the reasons why you have to stay away from Miny, it can go down anytime.
Also, you have to realize that even if you manage to withdraw some profits, it will be somebody else’s loss. With Miny, there will always be more losers than winners, many scammed people, and you don’t want to be part of that.
Miny revew – conclusion
Miny CC is not a cryptocurrency mining service, it’s a scam. It’s an unsustainable Ponzi scheme that is going to crash. Stay away from it!
To make money in crypto mining is very difficult. You can try investing in cryptocurrencies instead. See on a free demo with a regulated company how it works.
If you decide to invest real money, please be sure to understand the risks and the have a solid strategy.
Please share our Miny review to help warn other people against this terrible scam.