Review of ToTheSmart Crypto Miner: Is It Legit Or Scam?
My first encounter with this project was through the News.Bitcoin.Com platform, so I decided to have a look at this project. As crypto police, I need to zoom in on the project on behalf of the entire crypto community;) and let the entire world know what’s up with it.
But before I proceed with the review of ToTheSmart, let me enlighten you about cryptocurrency mining.
Hold On A Second
Maybe you don’t like to read a long article, I have taken my time to create a video version of this review. Watch it now. Don’t forget to subscribe to my Youtube channel and like the video.
What Is Cryptocurrency Mining?
It is defined as a computational process where transactions on the public blockchain are verified and new block rewards are found in a Proof-of-Work blockchain. The miner that is among the first to win the competition will get a significant part of the block reward.
Similarly, other blockchains that use different algorithm consensuses like Proof-of-Stake or Delegate-Proof-of-Stake also reward miners, but in this case, they are referred to as block producers or validators. Regardless of the name, they are still mining cryptocurrency. Got it?
The fact that crypto mining now requires big capital investment, and a couple of startups, in a bit to democratize mining, set up mining farms, and sell hash power. This way, more people can participate in mining. And this gave birth to Cloud Mining.
How Cloud Mining Works
When you buy mining equipment and set up a mining farm, the moment you decide to lease it out to other people over the internet, you are doing a cloud mining business. The buyers will pay for energy, equipment hash power, cooling system, and internet. It is your duty to take care of the farm and ensure that there is no downtime. Those that paid for your service are called cloud miners, while your business is referred to as cloud mining.
Do you understand it?
Every coin that is mined belongs to the miners who invested in your business. All things being equal, this is a win-win business model. If you provide the service, you should be doing it profitably. And the customers must have a reasonable return on their investment.
Here is the BIG question.
Does ToTheSmart Have A Real Miner?
I went through the website, and they are yet to provide any information about their previous experience in crypto mining. There is no mining license on their website, and it does not look like they know how Antminers work. That’s funny.
Is ToTheSmart Paying YouTubers to Shill It?
Yes, I believe. Before they launch the project on the 18th of July 2022, there have been a lot of YouTubers who are shilling it heavily to their subscribers, and this is one of the reasons why I wrote this review of ToTheSmart. I don’t want you to fall victim to another scam.
See pieces of evidence here….
Is ToTheSmart Mining A Scam?
If you invest in a business that claimed to be running a mining business, but there is no product to support the business model. What do you call such business?
Is ToTheSmart Legit?
Did I hear you asking this question? Lols. They have no business document, and no license to operate. Guess what? Their domain name was registered 4 months ago and the business owners are anonymous.
An interesting fact is that; their domain name will expire in the next 8 months, by April 2023.
There is no iota of legitimacy about ToTheSmart, therefore it is not legit.
Is ToTheSmart A Ponzi?
Yes, it is.
They kinda rob Peter so that Paul will get paid. For God's sake, how can a miner make a 5% profit every day? That is not sustainable.
If crypto mining is this profitable, I would be on the moon by now:)
Is ToTheSmart Mining Profitable?
Yes, Ponzis are always profitable but don’t come late to the party. Also, the owner of the Ponzi can say goodbye without notice and your money will be gone!
This is a Ponzi, it may last for months or a few weeks, this is the reason why you should not invest money in it. Be responsible with your finance.
Instead, I’d encourage you to seek genuine crypto knowledge, it is more dignifying. By putting what you have learned into practice, you will be able to achieve the financial level that you have dreamed about.
Don’t invest in Ponzis, buy my course and learn how I make money through cryptocurrency content writing.
Visit this store, signup for the course, and join my mastermind group.
About the Author
Ojeniyi Ayobami Abimbola has been trading cryptocurrency since 2015, and he is a blockchain content creator and a crypto coach at Cryptoniche. You can connect with him on: https://t.me/cryptoniche_hangout
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