UPDATE 6/8/2021: Watermine.io has been hacked. They are working to try to resolve but I would advise that you Do not invest your money into this service at this time.
Watermine.io is a U.K-based mining service in which people can deposit money in their online account and this money is invested in automated mining and trading of cryptocurrencies. You get high daily returns of up to 2% of your investment. Although this is a new company, from what I and many others that used this service have had no issues so far. Money is instantly transferred to your account daily. I think this is a passive investment vehicle, however like all investments, it is a risk.
However, to determine if this is a scam, at this time I would say NO. this isn’t a scam. I see no proof of any fraudulent schemes, and like I mentioned I get paid daily and can withdraw my money whenever I want to.
Update 6/1/2021: Watermine has been going through some hacking issues. The company has communicated with their customers that they are working through this and the withdrawal process is taking longer than normal to ensure money is deposited to customers’ accounts successfully. It seems as if the site is back up and running now as of 6/2/2021. However, please use caution with these services and never invest money that you can’t afford to lose.
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So for example if you were to deposit $500, you would get $11.00 daily. After 3 months, you would receive $990 in 3 months, a 98% return. Many people use the opportunity to diversify their incomes as advised by investment experts. I don’t know of any other service or savings account that can produce this type of high return. And honestly, I don’t know how long this can last. I have heard of companies like these sustaining for two years. This company is 10 months old. So I decided to try it now and just be cautious. I withdraw from my account every week and transfer it to my Coinbase account and from there, I can transfer to my bank account.
What is Watermine.io?
Many people are looking for online income-generating platforms like Watermine that allows users to invest in automatic crypto mining and trading. The platform has a minimum investment requirement of only $10 and customers can expect a return of 2% every day. Customers just need to sign up on the platform and deposit the money into their account through cryptocurrency digital wallets.
You do not pay any fees to use this service. The only fee applicable is the broker fee when depositing or withdrawing cryptocurrencies from their platform.
The company invests the deposited money in crypto mining, trading of crypto on international crypto exchanges, and even forex. Cryptocurrency is now popular among investors, both beginners and experienced investors. Crypto prices have surged in the last few years and many have been asking how to get involved. One way of doing this is investing in a trusted mining platform like Watermine.io that allows you to generate passive income daily.
How Watermine.io works
Watermine should be your choice mining platform if you do not know how to mine cryptocurrencies or do not have knowledge on these digital currencies. The company uses the SHA-256 algorithm to mine cryptocurrencies. A user will need to select the best mining contract from the 4 optional contracts possible. These are all 3-months contracts renewable after the period. They have different costs ranging from $10 to more than $2500. They do not prevent investors from getting unlimited income, so each project participant can also purchase any number of tariff plans they want even at the same time.
Additionally, the rate of generating income varies for each contract depends on the amount invested. With these investment contracts, you can choose to withdraw the money earned or reinvest in the mining again.
Crypto mining involves digitally minting new coins of a given cryptocurrency with the software on the host blockchain. Different cryptocurrencies have different mining protocols and a person can choose what crypto they want to mine to generate the highest profit or income. Mining is done with high-speed machines. ASICs are used to mine cryptocurrency at a high speed.
What Exactly is Mining?
Mining basically is an exercise through which the crypto blockchain network participants or nodes verify and confirm transactions. These are the transactions broadcasted into the network by network users who are sending and receiving cryptocurrencies. Verification ensures that the transaction and users adhere to the blockchain protocol for purposes of security.
Those who participate in the verification process are paid income after every block confirmation is successful. In a blockchain like Bitcoin, transactions are bundled together into a block. The block is confirmed and then added into the chain with other previous blocks.
Investing in cryptocurrency mining is not new. Many people have been investing in mining different cryptocurrencies on their own. The problem is that you will need to buy pricy mining hardware to compete with other miners before earning anything. Most people discover that the earning is so little when mining on their own. This is why I choose Watermine as it allows you to invest without buying mining hardware.
For many others, cloud-based mining contracts work because they allow people to combine their computer hash power and therefore increase their chances of earning more income at a high frequency. This is because any mining income is earned by a person or a group when they create a new cryptocurrency block on the network. Watermine.io helps you to mine at a high speed and you do not have to manage the mining process or the machine.
New blocks are created often depending on the transaction confirmation times of the specific cryptocurrency. For Bitcoin, a new block is created every 10 minutes and that’s when the person who creates the new block earns 2.5 Bitcoins. Creating a new block every eight minutes or other durations for other cryptocurrencies is a competition exercise on any crypto blockchain and people with hardware that has the highest mining hash, power, and speed have the highest chance of winning the creation of the block.
Depositing money into your account and buying the Watermine.io contracts
It is easy to start investing with Watermine. It actually takes only two minutes or less. Before buying the mining contracts on Watermine.io to invest, customers need to purchase cryptocurrencies. This is done on a different platform such as Coinbase or a cryptocurrency exchange. You purchase digital currencies on these platforms using local money transfer methods such as a bank, PayPal, and Western Union. Watermine.io supports investing in Bitcoin, Ethereum, Dodgecon, Litecoin, EBitcoin Cash, and other cryptocurrencies.
Once you purchase the cryptocurrencies, you can then transfer them from your crypto wallet to the Watermine.io account. Transferring is easy because Watermine.io supports crypto wallet addresses. After opening an account with Watermine.io, you will have access to your wallet there. From your Watermine.io account, click on specific crypto you purchased, select deposit, and copy the deposit wallet address to which you transfer the digital currency from your other crypto wallet.
The deposit process takes some time to complete depending on the confirmation times of the cryptocurrency. Different digital currencies have different confirmation times. The balances are reflected on the user’s account after the deposit is complete. After it is reflected, a customer can then buy a mining contract from Watermine.io and watch their returns grow without doing anything to the account.
Me, personally I chose Bitcoin to deposit money and withdraw. So I choose to transfer my weekly earnings to my Coinbcase wallet. And from there you can withdraw and transfer earnings to your bank account or credit card if you choose. At times I choose to keep my earnings in Bitcoin and experience the amazing gains from that particular cryptocurrency. You can choose Ethereum and others as well.
Referral commissions
The company allows anyone investing with it to refer the service to their friends and family members and earn some commissions when their friends join the service. This adds to their daily returns. The referral commissions vary depending on the level determined by the number of people that you refer and join the platform.
Commission rates on the platform vary from 2% to 8% per person from referral rank level 4 to level 1 which means the amount you get from the referral depends on the amount the referred person invests. If a person invests any amount and your referral is Level 1 in the referral rank, you earn 8% of the referral’s invested amount instantly.
Tracking your earnings and account balances
The account shows the money deposited with the amount and date details. The amounts are shown in US dollars. It also shows your total account balance as well as the breakdown for each of the crypto invested in or deposited into the account.
From the history of the account, you can see the amount invested and earned from the commissions and mining. You can also view the people from who you have earned referral commissions, the amount earned, and the dates. It is a very easy to understand dashboard.
Withdrawing money from the account
It is possible to hold money in the wallet and watch the balances grow. This is beneficial if the cryptocurrency prices are increasing. You can, however, choose to withdraw any cryptocurrencies any day to other wallets including cryptocurrency exchange wallets for sale. Selling means you convert it to cash but this is possible in another platform, not Watermine.io. This is beneficial if you discover the prices of given crypto may decrease.
Withdrawing from Watermine.io starts by clicking on your account wallets. You can see the available funds for withdrawal for each of the invested or deposited cryptocurrencies. You can withdraw each at a time. Simply click on the cryptocurrency you want to withdraw and scroll to the bottom. Type in the desired withdrawal amount and click request to request a withdrawal. The accounts are secured with 2FA authentication and you have to input a 2FA code if you have activated it in your account. After clicking the request button, it changes the status from available to pending. Once the withdrawal is complete, you will receive the amount in your external crypto wallet.
Rating and what to watch out for
The overall star rating for Watermine is 4.9. Expected features include better contracts for mining and investment products. It is also expected to add support for more cryptocurrencies.
Customer Reviews
Trusted service is proven by the customers themselves. Not so many customers end up reviewing a product or service after using it. Nevertheless, many people do. Some of the reviews online are not trustworthy because they are posted by promotional teams chosen by the company owning the same product.
The actual way of proving a product is by trying it on your own. However, you can refer to trusted review sources such as Trust Pilot to get an idea about the service from customers who say have used the product. Watermine investment reviews are available online for anyone to see before starting the investment. These reviews will offer information on what profits and features to expect from Watermine.io mining service.
Other online Watermine io reviews tell you that this website is not a scam although it is a new service.
Conclusion
I encourage you to try out Watermine.io even if it’s just a $10.00 deposit and see for yourself. I always want to share the best service possible that I have tried and I have been very satisfied with Watermine.io. I’m excited to know I get another service where I can receive passive income which is priceless.
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Past performance is no guarantee of future results