This is SCAM project already! Do not invest there anymore!
This is a difficult review for me to write from the point of view that I do not fully understand how the process of cloud mining of cryptocurrencies works. It is difficult enough for the layman to fathom the conventional process of cryptocurrency mining. In this conventional process, to make it profitable, very expensive computers having huge capacity are required. This, of course, implies a correspondingly huge start-up cost. But this is not all. To operate this equipment, extremely large amounts of power are required. And, this is also expensive. One such large scale mining operation that I am aware of (and that appears to be a real operation) is based in Iceland where all power is from renewable energy sources and is comparatively cheap. This operation is so huge that the computers physically occupy a fair sized building. You can imagine the costs associated with such an operation.
Concerning cloud mining, I get the impression that a lot of this expense is eliminated by the operator somehow getting access to a pool of such large computer facilities from a remote location. If I have this right, it obviously eliminates the costs of both hardware acquisition, electricity, and probably other factors that I am not aware of. Soft-Mining claims to have such a pool with hardware located in England, the United States, Germany, France, Myanmar (Burma), and Taiwan. But, this is only my take on how all this goes together. A nice addition to the website would be a clearly written explanation of the cloud mining process that a layman such as me could understand.
Soft mining appears to be a synonym for cloud mining and, obviously, this is what the company, Soft-Mining, is all about. Incorporated in late 2016 in England, they claim to be very successful at this approach to cryptocurrency mining and are now inviting investors to share in their success. Investments made will, in turn, enable the company to scale up their operations and add to their already successful cloud mining venture.
Soft-Mining offers three investment plans. All are “perpetual” meaning that their terms are infinite; your investment will continue to earn for you for the life of the company — and, naturally, you will hope that this is a very long time! All of them pay interest on a daily basis, seven days per week, and, the greater your investment, the greater your earnings. That’s the difference between the plans. Here is a summary of the three programs:
MH/S $10 – $500 Interest = 0.95%
GH/S $502 – $1,500 Interest = 1.05%
PH/S $1,501 and greater Interest = 1.25%
As far as HYIPs go, the interest rates are fairly low. I don’t think this is particularly bad as it keeps the company’s expenses under control and increases the likelihood that Soft-Mining will be one of the few HYIPs that will be around for a long time. But, these are definitely long term plans and you will have to wait a while before you break even. I would also note that Soft-Mining has purchased a “Sticky” listing in the Emily News monitor. This represents a further commitment of the company to a long-term presence online.
Well, exactly how long will it take for you to break even with each of these plans? Let’s do a few calculations to find out.
For a $100 investment in the MH/S plan, you would earn $0.95 (100 x .95) per day. So, it would take you 106 (100/95) days to break even, somewhat over three months Of course, this breakeven point applies to any investment in the MH/S plan.
For a $1,000 investment in the GH/S plan, you would earn $10.50 (1,000 x .0105) per day. So, in this case, it would take you 96 (1,000/10.5) days to break even, still around three months. Again, this breakeven point would apply to any investment in this plan.
Finally, for, say, a $2,000 investment in the PH/S plan, you would earn $25 (2,000 x .0125) per day and you would break even in 80 (2,000/25) days, now a little less than our three months.
So, to repeat, as far as HYIPs go, these are all definitely long term investment plans. And, again, this is not necessarily bad as it increases the probability that the company will survive in the long term. I also note that, since Soft-Mining is not returning your investment, it is relieved of this financial burden as well, still another factor that might improve the survivability of the program.
Soft-Mining accepts two payment processors, Bitcoin and Perfect Money, right now and, based on the way the user’s account area is set up, they intend to add more. As the descriptions of the programs above implies, the maximum deposit is unlimited. The minimum withdrawal is $5. In my opinion, this is a lot more sensible that the minimum withdrawals of $0.10 or even $0.01 promised by some other programs. Such amounts are useless with respect to buying power (even $1.00 is!) and I wonder why a program would saddle itself with the extra paperwork of processing such small withdrawals. If it is all done on autopilot, I guess it doesn’t matter. However, there are still programs that handle all withdrawals manually. In the case of Soft-Mining, assuming that your withdrawal request is more than $5, it should be processed instantly. In the case of Bitcoin withdrawal, expect a delay due to the verification process before the withdrawal reaches your account.
Soft-Mining has a very simple but satisfactory referral program that pays you 5% of deposits made by people that you bring into the program. This is not as lucrative as affiliate programs featured by some other HYIPs. However, it might be enough to keep a diligent recruiter happy, especially if his portfolio includes a number of other programs. You do not need to make a deposit in order to participate in the affiliate program.
There is only one contact option for reaching out to Soft-Mining in case you have an issue that you need help with. This is the standard contact form. Although limited, I note that a contact form can be extremely effective if the turn-around time is very quick. Waiting 24 or more hours for response to a burning issue can be very frustrating. The addition of live chat would be very welcome.
OK, that’s about it for Soft-Mining. In summary, the company offers a number of long-term programs and gives us clues to expect long-term survivability. Of course, we will have to see how that works out. So, if this type of long-term approach is your cup of tea, you might want to consider adding Soft-Mining to your investment portfolio. As always, we advise you to have a diversified portfolio and to never invest in any program more than you can afford to lose. Good luck!
