Crypto Hardware Retailer Scams

Asic Kings Review: Is a scam?

There’s something similar with Asic Kings ( website. And that points to a clone platform. The website is similar to Jet Miners store, now-defunct crypto hardware, and retail store. Again, we see a store that utilizes the same website aesthetics to try and fool investors. The store doesn’t deliver miners and, just like its clone sister, will soon shut down. Here’s what we know in our detailed ASIC KINGS REVIEW.

A Brief Analysis of Asic Kings

On the about us page, Asic Kings claim to reside in Iceland. After the Chinese government clamped down on crypto stores, most crypto stores moved to Iceland. The area is ideal thanks to the cold conditions.

Asic Kings Sells faulty Crypto Miners

However, Iceland is only ideal for crypto mining, and you can open up a crypto-miner hardware store anywhere. The store claims to reside there to push users to join their cloud mining contracts.

Soon, the store will claim to offer unbeatable crypto cloud mining contracts. And this will give way to buyers sending their miners to the store. Sadly, no one in Iceland has heard of the store, even though their business registry is unavailable.

The business registry used is another company that doesn’t deal with crypto mining. From what we can see, the store is a dubious website using another company’s registration details. We have to expose it and protect our readers.

You must know what you’re getting into for first-time crypto hardware miner buyers. The best place to start is to find a miner that works for you. Then, get to know the Stats of ASIC miners before placing an order.

It would be best if you also did due diligence before signing up with any platform. Try and get as much information as you can about it. For example, ask the crypto community whether the store is legit or not. That way, you will have complete insight into what to expect with the store in question.

A List of Miners seen on Asic Kings Store

We see Asic Kings posting products based on three categories on the product category page. These include manufacturer, mineable coin, and prices. There are 11 manufacturers listed on the product page.

These manufacturers include Bitfury, Bitmain, Canaan, Ebang, Goldshell, iBeLink, Innosilicon, iPollo, Jasminer, MicroBT, and StrongU. You immediately get a feeling that the store has almost every miner imaginable.

On the mineable coin list, there are over 25 mineable coins. The store lists algorithms instead of mineable coins. These start from Acoin, Axe, Bitcoin, BitcoinCash, Handshake, Nicehash, etc.

Lastly, we have the pricing model with the minimum price; you can get a miner set at $1,700. The highest possible miner goes for $51,500. On the shop list, the Jasminer X4 is the highest listed miner going for $51,900.

What makes us question the store is that the Jasminer is nearly out. You have to pre-order it, a thing most risky if you don’t trust a store. As this is a clone, there’s no way we would recommend joining the waitlist.

Another issue worth noting is the pricing of some of these miners. The store seems to undersell sure miners. The Bitmain S19 Pro Hyd goes for $19,000 in the store. You should know that buyers have to pre-order the miner.

The miner is not yet out and is expected to enter the market in May 2022. Here are the full stats of the Bitmain S19 Pro Hydro 198 Th/s miner. We have the profitability and expected running costs of this top miner.

Delivery is impossible with Asic Kings

Affiliate Program

Like most online stores, the store also furnishes members with an affiliate program. The commission pay scale for the affiliate program stands at 3 percent. Before joining the affiliate program, there are a few issues worth noting.

The store fails to provide any valid conversion data to affiliates. As a result, some of the few affiliates who joined the program haven’t received a penny as commission. It’s becoming clear that the store intends to take advantage of the affiliate’s connection.

Once you sign up with the store as an affiliate, your credibility and reputation are at risk. The store doesn’t care whether you direct close family and friends. You end up facing the blame as the store fails to deliver miners.

Victims of the store’s fraud plan to sue the store. Once legal proceedings start, the law will consider you an accessory to online fraud. That’s why you have to be extra careful when becoming an affiliate.

As an affiliate, you have to protect the interests of those you direct. So first, make sure that the store does deliver on its promise of making prompt delivery. Then, check with other affiliates whether the store is credible or not.

Bulk deals

There are three bulk deals available in the store. These include Dolphin, Shark, and Whale bulk discounts. Each of these discounts offers buyers a way of getting a discount. Although it seems affordable, the store intends to drive buyers to deposit large sums.

With the dolphin discount, you get a 5 percent discount once you buy three units. Shark discount is 15 percent after buying ten units. The last discount is the whale which offers a 20 percent discount for sales of 20 units.

The store claims to offer a special discount for corporate clients just below the deals. These include clients looking to buy over 100 units. The store targets mining farms or those clients looking to start crypto mining farms.

Business holder

Despite posting their address in Iceland, there’s no record of who owns or runs the store. And this makes Asic Kings an anonymous crypto hardware store. The best way to lose your investment is to interact with unknown stores.

These stores stay anonymous to ensure no one gets a hold of them. It makes it easier for them to block your money-back claims. However, no one will protect you once payment is complete. The store will take your funds and fail to deliver miners.

Buyer’s protection Asic Kings

Client testimonial

Most buyers fail to go through the terms and conditions set by online stores. Yet, these terms are what the store uses to operate the store. From what we see, the store openly puts all liability in the hands of buyers.

Even if you receive a faulty miner, the store doesn’t accept returns. After the point of sale is complete, buyers are on their own. The store won’t offer refunds or even cover repair fees. That’s what makes it a conniving store.

Client testimony

There’s no positive comment or post on the web regarding this store. And that means the store doesn’t enjoy the backing of the crypto community. You will also notice the store doesn’t have social media profiles.

You expect stores to use such avenues to contact clients in the modern era. The store doesn’t have any online footprint. It’s another sign of the store’s inability to stay afloat and shows the store is about to close shop.

Contact and support

Don’t expect contact or support from a store lacking live chat capabilities. The phone number listed rarely goes through. And that shows that the store doesn’t have what it takes to communicate effectively with buyers.

Delivery and shipping

No miner comes out of the store, and all the listed miners are stock images.

Final verdict

You now know the risks that come after investing with Asic Kings. So please stay away from the platform.

It’s best to go for crypto cloud mining services backed by experts.

Feel free to drop a comment or email us with any queries.

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