Crypto Hardware Retailer Scams

Bitmart Review: Is bitmart.co.za a Scam?

Bitmart is a South-Africa-based crypto mining hardware and retailer shop. For most parts, the store does deliver miners. And there are other days that you won’t even get any support from staff members. We are trying to say that Bitmart.co.za is not a reliable store. Depending on their mood, the store might fail to deliver paid miners. Here’s what we found out in our detailed BITMART REVIEW.

A Closer Look at Bitmart

Bitmart Pros and Cons

According to the about us page, Bitmart was founded by Jacques Serfontein. The story goes that the store opened its doors in 2015. Bitmart.co.za claims to sell miners to all locations globally, including Australia, Dubai, Sri Lanka, and more.

We can tell that their background and history don’t check out from the word go. Just as Bitcoin’s owner has a pseudonym, so does the store’s owner. When we check his online footprint, it’s a year old.

There’s also the issue of raising complaints from buyers in Africa, especially East Africa. With the store closing, you would expect prompt delivery. Unfortunately, that’s not the case, as most buyers fail to get their miners.

Depending on your electricity rates, you need to know which ASIC miner works best for you. And this means learning a miner’s algorithm, efficiency, hashing, and profitability. It will help you make a more informed decision on which miner works best for you.

Bitmart, on the other hand, doesn’t even show the profitability of these miners. On their ASIC-Miner section, there’s only one miner available. And that’s the Antminer S19 95 Th/s. The store claims to have over 17 GPU miners and six graphic cards.

We notice that the store also happens to be a jack of all trades. It doesn’t only sell ASIC and GPU miners, computers, and electronics. With that many products, chances are delivery will get mixed up.

A few ASIC miners in Bitmart

As Bitmart has one ASIC miner, it begs how the store operates. On the cart section, you don’t get a response that the miner you’re looking for is unavailable. Instead, the store claims all miners are available when you hit the search button.

Other products sold in the store include solar panels and thermal solutions. The store started as a solar and energy product provider. How the store pivoted to selling ASIC and GPU miners remains unknown.

The background and history of the store also failed to pan out. With that name, the store seems to mimic Bitmart.com. The owner’s Twitter account also has a year’s empty footprint. Finally, we have the owner failing even to mention any new products.

And that’s a pointer that the Crypto miner section of the store is falling apart. The store tries to hide it by failing even to release statements. Nevertheless, there are hundreds of miners released in late 2021.

With the store failing to add any more miners, it begs the question of what’s going in. The store claims to have risen to glory within two years of operating. And now, the store is barely providing new or used miners.

You should try and check a platform’s ASIC catalog to determine if it’s credible. From what we saw, bitmart.co.za will soon crash. Ordering any miner from the store should be the last thing on your mind.

Bitmart Sells Faulty Miners

Affiliate program

There’s also the failing affiliate program due to the store’s failure to release commissions. Those who joined the affiliate program were ecstatic about the 10 percent referral commission. Little did they know the store doesn’t release commissions.

And with that, the store takes advantage of your connections and sells miners. But, unfortunately, the store doesn’t offer any conversion information. And this means we have a store that fails to deliver on its promise.

As an affiliate, you will only realize that you sold miners through victims. These victims will reach out and claim delivery was not made. That’s when you realize the store takes advantage of your connections.

If these victims take the store to court, the court will see you as an accomplice to online fraud. You have been leading consumers to buy non-existing products. And that’s how your credibility and reputation go down the drain.

Before joining any affiliate program, you need to confirm payment is possible. Then, reach out to other affiliates and ask them about their experiences. Most professional affiliates don’t want any interaction with the store.

Business owner

Apart from Jacques Serfontein, we also have the manager’s name. Marcus Van Der Merwe works as the CEO of the firm. Other staff members include Carla Vermaak and Cecilia Seymor. You can head over to the about us page and see the rest.

What’s weird is that most of these staff members don’t have any social media footprint. We don’t have any social media posts from the store or staff members. The last post was in 2021, clearly showing a lack of interest in clients.

You need to have a stable relationship with clients. But, unfortunately, the store fails to create any lasting impression with their hostility. And this is another reason to stay away from the store. The store doesn’t want any interaction with buyers.

Client Testimony

What clients say about Bitmart

There’s a need to pay extra attention to positive comments made on TrustPilot. The store hired reviewers to make positive comments. Unfortunately, there are a few negative reviews that the store blames on bitmart.com.

The listed phone number rarely goes through. After asking South African Crypto enthusiasts to check out the offices, he saw a store on its knees. The store’s physical address only has solar panels, and there are no new or used miners.

Even mining accessories such as cold wallet storage gadgets are not available. And this is the proof we needed to expose the store. It’s clear that engaging with Bitmart.co.za is a risky move. Please stay away from the store.

Contact and customer support

Despite claiming to offer live chat, you get a message board. The store seems to be making passive income by harvesting email information. Once you leave your address, you get emails from several marketing campaigns.

After calling for a while, no one picked up the phone. The platform doesn’t bother to call back. And this also shows how irrelevant the store has become. We have complaints from users claiming the store doesn’t even send order tracking information.

Disadvantages of Bitmart

Several disadvantages come to mind when dealing with the store. One of them is failing to offer transparent services. The store won’t deliver miner despite clients paying for it.

We have a store that doesn’t add any miners on their roster. Even the used miners are not available in their shop. We believe the store acts as a middleman and sources miners from other stores.

The pricing of miners in the store is also another issue. Hiking prices even when prices of mineable coins drop is another issue. The store plans to take advantage by getting your funds and failing to deliver miners.

License and Registration of Bitmart Store

Bitmart.co.za doesn't deliver miners

You would expect to find business registration documents of the store. Even if it sells solar panels, the store has to have a license. There’s none that we have seen. Even regulators don’t have any store licensed with the above name.

Our verdict

After exposing all the problems you will likely face, we recommend that you stay away from Bitmart.

You can engage in P2P crypto trading and start earning passive income.

Reach out to us by dropping a comment or email.

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