Lazada Review: Is lazada.com.ph a scam?

Lazada is a B2B platform where everything sells, including Crypto Hardware Miners. And this creates a loophole for fake sellers to post non-existing miners. We blame Lazada.com.ph for failing to vet sellers on the platform. We also know that Lazada is a clone of several B2B platforms operating under the same name. Hundreds of Crypto miner buyers are up in arms over what they term an outright scam. Learn more in our exclusive LAZADA REVIEW.

A Brief Overview of Lazada

The store claims to have it all, including computers and electronics. We talk about the discrepancies found under the Crypto hardware sellers. Those who have tried buying from vendors are going through a tough time.

Lazada has, over the months, failed to verify those who claim to sell miners. And this has created an influx of scam sellers. These sellers open multiple accounts or sell the same miner to different users.

It’s becoming clear that the store doesn’t own up to their mistake. There’s no verification or rating of these sellers. Once you interact with the seller, the store is only interested in the commissions.

NOTE: First-time crypto hardware buyers need to know more about ASIC Miners before engaging. You need to know about the algorithm used, efficiency, hashrate, and warranty of the miner.

Several stores are operating under the same website domain. Most of the stores seem to target buyers from the Asia region. Hundreds have lost funds even trying to recover funds from the store.

You won’t get any resolution center with the platform. Once your deal goes through, the store won’t follow up on delivery. The store automatically believes the seller will deliver the miner after the point of sale is complete.

Experts recommend that you research any store before buying from it. Try and learn more about it by finding out the experiences of other users. It’s the only way to guarantee your safety when buying from an online store or vendor.

A list of miners available on Lazada

Lazada is a free B2B platform that allows anyone with a product to sell. From the list, we could only find two brands, Bitmain and Innosilicon. The sellers fail to indicate the condition of these mining units.

As far as conditions go, the seller has the right to see the quality of the miner. But unfortunately, these sellers fail to mention whether the miners are brand new or refurbished. Mostly, these sellers hike prices, even for refurbished miners.

You buy a used miner for the price of a new one. That’s why you won’t get anywhere after completing payment. The few who have received miners complain of the quality of most miners. These miners will only mine for a few hours before breaking down.

You need to see proof of the miner in question as a buyer. We also doubt that some of these sellers own the miners. The vendors are middlemen who earn commissions from sales. There should be a video showing the miner in question.

A video helps prove the miner’s quality. You will notice that the store fails to offer any such visual feature. The store wants buyers to take the words of sellers at face value. That’s not going to happen in the real world.

The buyer needs to see the miner mining for a short period. With such videos, you get to see the hashrate of these miners. And that’s what makes buying a miner from a third party a risky affair. Failure to show the quality indicates some faulty issues.

Despite claiming to offer a 7-day money-back guarantee, that’s not the case. The seller rating is only available for a few established stores. And this creates a large problem for new buyers who don’t know much about these stores.

Affiliate and referral program

The stores that create accounts also offer affiliate programs to individual vendors. These stores will often provide a 5 percent commission on all sales. From an affiliate’s point of view, it seems like a genuine way to earn passive income.

Before partnering with anyone, you need to determine whether the partner is genuine. Unfortunately, that becomes a hurdle with no rating or verification from the store. As a result, you become a partner with a store whose credibility remains unknown.

Those you direct to buy miners from the store end up failing to get the desired miners. So you end up facing the blame for everything. And that’s why we have to expose the store’s verification issues.

If you direct close family and friends, you tarnish your reputation. After the miner fails to arrive, the buyer will want some answers. Buyers can decide to file a lawsuit against such stores in the future.

Business owner

There’s little information t point us to who owns or runs the store. And this creates a big problem for buyers. It’s an anonymous store that has several different domains. And this makes it difficult to get back your investment.

Despite having a Philippines domain, there’s no telling where precisely the store resides. And this makes Lazada an anonymous crypto investment store. You have to stay away from such stores or risk losing everything.

Buyer’s protection Lazada

Buyers don’t get any protection from the store. And this is what makes buying from the store a risky affair. You need to read the terms and conditions to understand the risks entirely. All liability falls on the buyer after the sale is complete.

And that means, even after receiving a faulty miner, the seller won’t cover repairs. The seller ought to cover repair fees or even replace the miner with genuine stores. Instead, what we see is a store that only protects sellers.

Most buyers fail to read the blueprint, which shows you what to expect with such stores. And this could lead to a possible shipping issue. The store even fails to provide any track order information to buyers.

Such vital details are essential for buying goods from online stores. There’s no such thing as waiting three to four days anymore. The seller has to wait to give tracking information to the buyer as well.

Client testimony and reviews

Hundreds of clients have dropped their comments on various crypto forums. Others vent their anger on social media pages. You can read negative reviews of the platform on TrustPilot. And this shows you what to expect from the store.

Since its inception, there has been no positive comment from crypto hardware buyers. If the store received any positive feedback, clients would flock in. Sadly, that’s not the case with Lazada.com.ph, which steals from clients.

Contact and support

Don’t expect any help from the store as there’s no resolution center. Once the seller accepts your funds, that’s the last you will hear from them. The platform cannot prove the seller didn’t deliver the miner.

Deposit and payment methods lazada.com.ph

There are several payment methods, including bank and wire transfers. But unfortunately, the store fails to provide a receipt of payment once you complete it. And that’s another loophole sellers use to their advantage.

Disadvantages of Lazada

Delivery is the biggest issue we found in the store. Sellers willingly fail to deliver miners even after the buyer completes payment.

Final thoughts

Please stay away from Lazada.com.ph or their sister platforms.

PS: You can try and earn passive income through P2P trading.

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