Crypto Hardware Manufacturer Scams

Canaanavalonminers.com Review: Is Canaanavalonminers a Scam?

Hundreds have lost their money trying to buy miners from Canaanavalonminers.com. The platform, just like Canaanavalon.com, is a clone. We have reason to believe the manufacturer is behind it all. Canaan Avalon Miners uses two websites to lure investors into funding their current platform, canaan.io. If this were not true, the platform would issue a statement warning investors of the clones. Here’s our clear CANAANAVALONMINERS.COM REVIEW.

About Canaanavalonminers.com

Canaanavalonminers.com Is it a Scam?

On the about us page, Canaanavalonminers.com claims to be a leading provider of supercomputing solutions. The platform even claims to manufacture AI chips to aid with creating mining chips.

You get the whole story of how Canaan was the first company to create ASIC-powered Bitcoin machines. However, in the year 2013, this platform claims to have produced a crypto mining wonder.

What most buyers and miners don’t know is that Canaanavalonminers.com is a clone. It was a project meant to find out whether the manufacturer was leaving the ground. Unfortunately, after hundreds of buyers bought miners, none of them received them.

It seems the funds were used to create the next Canaan Avalon Miner clone, Canaanavalon.com. Unfortunately, the same scenario took place, and a few miners got Canaan Avalon miners at a steep price. Regardless, most of them offered near no nothing profitability.

Before you invest in a miner, there are a lot of factors to consider. But, first, you have to understand the coin and the profitability of the coin. And that’s why learning about leading crypto miners is crucial when making such a rash decision.

You should ensure you do due diligence before buying a miner from a manufacturer. Check out what others are saying about the manufacturer before making a decision. Hundreds of clones are out there waiting to pounce on naïve crypto miners.

At Hand Miners with Canaanavalonminers.com

Canaanavalonminers.com is a clone that purports to have all the Canaan Miners. These include the A10, A11, and A12 classes of miners. Unfortunately, there’s not a single retailer store that has any of the Canaan miners.

After word got out that the platform was a clone, miners went the other way. You could buy the miner and fail to get it on time. The profitability of most miners was from $5 to $20 daily, and prices, however, couldn’t cover the cost.

An excellent example of a Canaan Avalon Miner that was a classic was the Canaan Avalon Miner 1066 50 Th/s. The Bitcoin miner would generate a lot of buzz thanks to the high profitability.

After buying the miner, miners started to notice a few flaws with it. The miner would overheat and fail to reach the expected profit ratio. And this became a concern for the entire crypto mining community.

With Bitcoin prices rising, it was clear Canaanavalonminers.com was taking advantage of miners. But, unfortunately, didn’t even come close to achieving the desired results. And this was the start of Canaan Avalon Miner’s woes.

AI Technology Kendryte

AI Technology with Canaanavalonminers.com

K210 and K510 are the groundbreaking chips Canaan Avalon Miners claim to create. The developer claims that these are the most powerful edge computer chips. Moreover, with a maximum power consumption of 300Mw, it promises high efficiency.

After trying out these chips, there were a few issues. First, the chips would not complete major tasks, especially those needing high computing power. And this made the Canaan Avalon Miners useless when it came to mining Bitcoin.

All Canaan Avalon Miners mine Bitcoin, and as such, computing power is needed. Sadly, these chips couldn’t match the speed required to solve block puzzles. As a result, Bitcoin miners would fail to generate the necessary computing power.

The results were miners that would mine Bitcoin at a much slower rate than other miners. And this also played a huge part in destroying the platform’s capabilities. There were also issues regarding the legitimacy of the manufacturer.

Business Owner

Nangeng Zhang is named the owner of canaanavalonminers.com. It’s a fictitious character closely related to Zhang Nangeng. What we have is an attempt to use one’s name to legitimize a platform.

There’s a company listed on the NASDAQ with the name Canaan. Unfortunately, it’s not the Canaan we are talking about. And this is what misleads buyers into buying miners from clone platforms. The owner doesn’t know his name is used to fool investors.

Canaan Inc. is the company listed on the NASDAQ stock exchange. Although the platform is facing problems, this could be related to bad publicity. In addition, the clone platforms with the Canaan name are pulling down prices.

Client Testimony

What Clients are saying about Canaanavalonminers.com

Hundreds of miners have lost interest in the platform. After failing to receive miners, most clients will likely give up. In addition, there’s no communication from the platform as their support structure is wanting.

Contact and support

After buying the miner and seeing them fail, the next option was to contact the platform. Sending emails didn’t help as the platform made no responses. You will notice that none of the clones leave a phone number.

And this makes it clear what the platform intends to do. By controlling the communication channels, there’s no way of contacting support. And this leaves buyers in the cold regarding warranty and charge-backs.

Domain and Business Registry

Despite the platform claiming to be around for over seven years, we can dispute that. Thanks to domain checker tools, we learn the platform went live in 2019. So for a whole year, the platform has been masquerading as a crypto hardware firm.

The actual date the website went live was on 8th September 2019. So claim that the platform has been around since 2013 is clearly false. The website is 807 days old as we publish this post. And this clearly puts a lid on their miners.

We believe that after the expose, the manufacturer will quickly go underground. The proof is already there as the website keeps popping up and down. Soon, the platform will shut down with buyers already making purchases.

License and Registration Canaanavalonminers.com

Canaanavalonminers.com is not a licensed company. The platform claims to reside in Jiangnan District, Zhejiang, China. However, there are no registration documents that prove the platform is a legit entity.

With Crypto mining banned in China, you don’t expect to find a crypto manufacturer based in China. And this is another tell-sign that we are dealing with a scam. Therefore, you should avoid any Crypto manufacturer that claims to reside in China.

We also don’t have any documents proving that the platform has any registry. For example, companies in China have to register with cr.gov.hk. And there are no such records of Canaan Avalon Miner.

Fund Safety with Canaanavalonminers.com

Are Miners Profitable with Canaan Avalon Miner?

If you buy a miner from the company, don’t expect any guarantees. For example, the platform might sell second-hand miners for the price of a new one. And this is happening as the platform plans to exit the market.

We also have claims of users failing to get miners despite paying for the orders. It could happen to you, and this is why we have to expose the platform. Please stay away from Canaan Avalon Miners.

Our Verdict

It would be best if you stayed away from such platforms as they will likely take you for a ride. Unfortunately, Canaanavalonminers.com is one of them. We will also expose their sister clones that take advantage of European miners.

If you want to get legit Crypto mining equipment, it’s best to go for proven manufacturers and retailers. It’s the safest way of earning passive income with Crypto mining.

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