EthereumGen has been buzzing for some days now, which is why we’ve decided to look into its review today, and find out if this earning platform offers legit financial services as it claims.
Other review sites tagged EthereumGen as a scam due to its red flags & illegal financial services. Read through this article, and see our side of the story about EthereumGen, and what it is all about – if it is really what it claims to be.
EthereumGen runs a mining program on its platform that tends on offering great profits after mining cryptocurrency (ETH). So, why have users & investors tagged this platform & its services as a scam? Find out in this article.
EthereumGen Company Overview
Just as the name of the platform implies EthereumGen – An ETH generator indeed.
EthereumGen seems to be a cryptocurrency mining service, where users pay for mining power in order to mine Ethereum & receive rewards at the end of the day.
If you look up the official site, you’ll find different mining plans that are available for offer. The first paid offer (iron) promises to reward you 0.00008 ETH daily once you deposit 0.002 ETH into the company’s wallet address on the platform.
This means that users can earn about 4% ROI daily after the mining period is over. Among all, the most alluring plan is the one mapped as VIP, which promises 0.3 ETH daily once you give in 1 ETH – 30% ROI daily.
Among all these paid plans on the platform, they also made available a free plan, in which you can freely earn 0.00002 ETH daily with no deposits, which means that the plan is totally free to check in for.
On the other hand, do you think EthereumGen really offers these ROIs, or is it just an advertised scam as other users think? Let’s find out!
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EthereumGen Exposed – SCAM!
Research has shown that EthereumGen is just a big scam. It offers illegitimate mining services to users with no financial license or authority from the regulated body of its country base. Why do we say this? See the evidence below.
EthereumGen operates an illegal & dirt scheme that was mainly built to scam users & investors within the platform. We advise you to strongly avoid its PRs because you might be convinced once you come across one.
Once you neglect our advice and go ahead to invest in this scam, we can’t stop you, it’s your choice, however, you’ll lose your crypto tokens to crypto scammers, and such a choice might lead to your downfall financially if you’re not strong enough.
See the reasons why users & investors tagged EthereumGen as a big scam in the following section below, and don’t forget to share for others to avoid this scam.
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ETH Tokens Can’t Be Mined
One of the facts that exposed & proved that EthereumGen is just a scam is its Ethereum blockchain, which uses no proof of work concept to confirm & process transactions, and this means that it’s not mining at all.
ETH tokens are now based on proof of stake, which means that if anybody sells you hash power to mine Ethereum & make money is a big scammer. This means that they are offering invalid promises – things that do not exist in reality.
Absurd Return-outward Investments
Another way you can find out if an investment company is a scam it’s when you consider its offers on ROIs, and EthereumGen seems to be caught in the chase in this aspect.
Even if ETH tokes are still operative in a mining process, these ROIs offered by EthereumGen would be totally impossible to work out as it claims.
It’s happened nowhere in the history of ETH tokens where users can make 4 to 30% ROI daily just from mining ETH. No legit blockchain is ready to offer such returns, because it’s too high at a normal rate.
Operated By Fake Company
If you look up the EthereumGen official platform, you’ll find out that it claims to be under a certified company as the first registered digital asset mining company. On the other hand, this is just a big lie
The company mentions being situated in London, UK, which means it has to be registered under the Companies House. However, it seems to be false in terms of registration.
All these show that there is no real certified company behind EthereumGen, even the company’s identity has been hidden from the public – not knowing who owns or runs the mining program.
Isn’t this enough proof to certify that EthereumGen is a big scam? YES, it is. Now, let’s go deeper, and find out how the company actually works as an ETH mining service.
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How EthereumGen Scam Operation Works
Do you know that EthereumGen also operates as a big Ponzi Scheme? And this means that the platform just transfers money from new members on the platform to old ones on the platform.
And all these Ponzi schemes go on without a legit external source of income from the company, which can possibly serve as backup to cover up their faults when it arises.
These results to why there is a free mining plan on the platform with a condition to refer others to join the platform & mine ETH for great returns. The platform needs more deposits from both new & old users to keep up with their scheme.
However, do you think such schemes last long if they tend to keep up? No! In the end, it eventually collapses once they run out of deposits, new members & users on the platform.
Those already into it would refuse to be convinced, but we know that when they keep up they can possibly lose their assets to scammers on the platform, and it will all be their fault for not reading & considering this review.
With the free plan offered on the platform, most new users & investors will be more influenced to try participating in the paid plans on the platform, and if it continues that way, and the platform ends up collapsing, you’ll regret joining at first.
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Joining EthereumGen – Registration & Login Procedures
To join EthereumGen, and participate in its income opportunities via cryptocurrency mining, follow these procedures below:
- Visit the EthereumGen official platform
- Access the signup page
- Follow the prompts on the platform to complete the registration, but firstly, you have to drop your Ethereum address or wallet to start mining free ETH tokens.
Once you create an account on the platform, accessing your account won’t be a problem next time. When you visit the platform next time to mine, you just need to provide your ETH address used during registration, and you’ll have access to your account.
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Frequently Asked Questions about EthereumGen
What is the minimum deposit amount on EthereumGen?
The minimum deposit amount is 0.001 ETH on the first paid plan on the platform.
What is the minimum withdrawal amount on EthereumGen?
The minimum withdrawal amount on EthereumGen so far is 0.002 ETH.
Would I receive a reward when I refer someone to the platform?
EthereumGen’s referral program is another opportunity to earn more on the platform, your referred investor or user will be assigned to you permanently, and then, you’ll get a reward for every deposit they make on the platform.
What is EthereumGen?
EthereumGen is a cryptocurrency mining service, where users pay for mining power in order to mine Ethereum & receive rewards at the end of the day.
For further updates on EthereumGen, feel free to visit this page next time on Start Easy Crypto, and don’t forget to share this article for others to benefit, leave a comment below, so we’ll know your opinion on this matter.