NiceHash is a popular platform where people can rent or sell computer power to mine cryptocurrency. We came across lots of complaints online from people who have used their mining services and decided to investigate. But the question remains Is NiceHash a legit way to earn, or is it more of a scam?
Is NiceHash Legit Or a Scam
It’s not a scam but a legit website that lets users mine cryptocurrencies without needing to buy costly equipment. You rent out your computer’s power to mine Bitcoin and other coins, and you get paid in Bitcoin for doing so.
Here Are Some Downsides
Hard to Withdraw Funds
NiceHash has a minimum amount you need to withdraw, so if your balance is too low, you might not be able to get your money out. If your balance drops below this limit, it will keep shrinking slowly over time.
Trouble Closing Your Account
You can’t delete your account if you have any money left in it. If you can’t withdraw your funds, you have to either add more money (which comes with extra fees) to withdraw it all or keep paying a small fee each month while your account is inactive.
Low Earnings
Some people earn just a few cents a day, which doesn’t seem worth the effort. Even users with powerful computers find that the profits are very small.
What To Do If You Are Scammed
Cancel your credit card
Immediately call your financial provider and cancel your credit card. By so doing, the credit card details you used for your transaction would become null and void.
Request for a new card
After the old credit card has been canceled, ask for a new card, it doesn’t cost much to get one. Your credit card issuer will issue you a new one with different numbers.
Report the Fraud To Relevant Authorities
Report the scam to relevant authorities and organizations. This includes:
- Better Business Bureau (BBB): File a complaint with the BBB if the online store is based in the United States.
- Internet Crime Complaint Center (IC3): If you are in the United States, you can file a complaint with the IC3 at https://www.ic3.gov/.
- Your Local Consumer Protection Agency: Contact your local consumer protection agency or the equivalent regulatory body in your country.
Also read: Coinmrbeast.com Real or Fake
Nora