Mining Syndicate is a reasonably new Crypto hardware store and has already caused some major revolt from consumers. A few buyers felt cheated by the store after it failed to deliver miners. Those with complaints inform us that miningsyndicate.com fails to respond to email queries. Attempts to hear from the store have fallen on deaf ears. And that’s why we have to expose some of the red flags. Here’s the truthful MINING SYNDICATE REVIEW.
Note: Before buying a miner, you need to know the Full ASIC features. These are the attributes that make a miner different from the other. That includes the algorithm, efficiency, hashrate, profitability, and warranty.
A Closer Analysis of Mining Syndicate
The store gives a compelling story of how it all started on the about us page. Mining Syndicate claims to have started from humble beginnings. This is after Chris K became frustrated by a lack of hosting solutions.
And as such, he decided to open his own hosting solution business. That’s where the store started and claims to have eight different stores all over the States. As you would expect with such stores, delivery to those in the United States seem flawless.
Wait until you order any miner outside the States; that’s when the store acts up. Even after paying shipping fees, the store still doesn’t deliver miners. And that hurts the buyer as the store doesn’t even makeup with a refund.
Several buyers have had the disdain and pleasure of experiencing delivery issues with Mining Syndicate. There’s a high chance the store doesn’t even have a physical address. These virtual stores likely use public addresses.
Its mission statement is to strengthen the Bitcoin Network. In addition, the store claims to make it possible for small-scale crypto miners to get affordable miners. That’s a compelling mission statement that we will look into later.
We checked with domain checker tools to find out when the website went live. Records indicate the website miningsyndicate.com went live on August 30th, 2021. It’s been running for 256 days as we publish this post.
Claims of starting the business in 2018 are false. Instead, the website intends to make the store appear reputable in the industry. What’s more disturbing is that the domain is up for sale. Soon, the store will either shut down, become an exit scam, or get another buyer.
Advantages and Disadvantages of Mining Syndicate
As a first-time buyer, you have to weigh the pros and cons before engaging with any store. Nowadays, stores even use pros to cons for buyers. These include lowering miner prices and offering insane discounts.
Once you land on the homepage, you notice the store seems to have a clean website. All the information is out there for the visitor to see. When it comes to user experience, the website is one of the cleanest.
For most buyers, it’s enough to believe the store offers what’s listed. However, an experienced buyer will try and dig deeper. We are here to expose some red flags not seen by the naked eye.
A List of Miners found on Mining Syndicate Store
Mining Syndicate claims to have several miners in their shop like any store. These include bestsellers from leading manufacturers. In addition, the store claims to have Bitmain, Canaan, Goldshell, and MicroBT miners.
Apart from these well-known brands, the store also claims to have Jasminer ready for sale. However, when it comes to the pricing of some of these models, that’s where we start seeing the holes in the whole story.
The store seems to oversell these miners making us believe the store is a middleman. Such stores spike prices to earn commissions from sales. And that means the store doesn’t have any contact with leading miners.
There’s another issue, and the store could be posting stock images and listing prices alongside the photos. As a buyer, you need proof that the store does own these miners. The evidence should come in a short description video.
How else will you confirm the condition and quality of a miner? A buyer has the right to ask for a video of the miner in action. You can ascertain the hashrate and the quality, new or used miner.
We don’t get to see the store posting images of their warehouse. And that indicates the store doesn’t own a single miner. It’s all a false narrative meant to drive up sales. There’s not even a mining farm for their hosting services.
Affiliate and referral program
To try and attract more buyers to the fray, the store claims to have open job positions. There’s a job page where interested parties can leave their CV and wait for a response. On this page, we learn the store claims to reside in Dallas.
Before you join their affiliate section, you need to know the truth. The store promises a 10 percent commission on all sales. So it might appear perfect to earn passive income as their affiliate.
The problem with it is that the store doesn’t release commissions. So there’s no sharing of conversion data from the store. And that means the store intends to take advantage of your connections.
Those you direct to buy from the store will likely fail to receive their miners. These victims will want some compensation from the shop, which is not coming. Victims will turn to you for answers or take legal action.
Once a lawsuit gets filed, the law will consider you an accessory to online fraud. That’s how your reputation gets tarnished. Due to these red flags, you won’t find any professional affiliate partnering with the store.
As an affiliate, you would want to work with a reputable store. Before joining any firm or store, make sure to investigate it. Confirm that the store sells worthy products and that delivery is prompt. You have to protect those who you direct to such stores.
All the staff members’ names have only the first name and a single letter representing the second name. So there’s no way of checking who owns and runs the store. And that makes Mining Syndicate an anonymous crypto store.
Diving into such stores is a considerable risk for buyers. With anonymity, the chances are that you can’t recover funds from such stores. And that’s why we insist on knowing who owns a store. It makes it easier to point to who is responsible if things go south.
Buyer’s protection Mining Syndicate
There’s no buyer’s protection as all liability seems to fall in the hands of buyers. Furthermore, the store doesn’t even offer a working refund policy.
Hundreds of clients have lost funds and are venting their anger on social media platforms. Despite having a three start rating on TrustPilot, it’s a promotional drive. The store hires keyboard masters to post positive reviews. There’s no response to those making negative reviews of the store. You won’t find any positive reviews of the store anywhere on the web.
And this goes to show that the store doesn’t have a firm footing in the crypto industry. Avoid such stores.
Closing remarks miningsyndicate.com
Please stay away from the mining syndicate.
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