Crypterra Cloud Mining - Is it a Scam?

in #bitcoin7 years ago

So, that is the big question with the latest cloud mining website Crypterra, and one that nobody really knows the answer to.

Started in 2017, Crypterra is offering some outrageous deals on cloud mining, right now. Their Xmas Sale which is going on until January 30, is an additional 20-30% off of their already low prices seems to be the go to for many. You can check it out along with their custom contracts here https://crypterra.net/?code=CR11842 I decided to go smaller just to test the waters. Let's just say things did not go smooth for me at first, but they are continuing to look up as each day passes.

I had about $300 of Litecoin in my Coinbase account. If you do not know what Coinbase is, you can visit my link https://www.coinbase.com/join/5a200da89dd75f00f9e34ec1 and if you deposit $100 we will each get an extra $10 in Bitcoin. Anyway, the $300 was mostly profit from when the price spiked in early December, so I chose to purchase 490 H/s contract of Zcash for 2 years. The price at the time was a little over $310, but I had a coupon code(Happy2018) for 10% off, which brought the final cost to about $283. I submitted my Litecoin payment to Crypterra and waited for the 6 confirmations. After the 6 confirmations cleared, I continued to wait for my hashpower to be activated on Crypterra, but that never happened. The next day I submitted a support ticket from their site and again waited for some kind of response or activation of my hashpower. Still nothing. This is when I started to get a little worried and began to research if anyone else was having the same issue. Low and behold, there were people tweeting, Reddit posts, YouTube videos, and even a Facebook group page that was setup where many people experience the same issue. Several days went by, and myself and others had still not received their hashpower, but someone on the Facebook group figured out that if you sent a very small amount(a few cents) of Litecoin or Bitcoin to the original address you submitted your payment to, that some people where able to have their hashpower released. I tired this trick a couple times, but again did not have any luck. A couple more days passed, still no response to my support ticket and no update from Crypterra on their Twitter, but I did notice when I logged into Crypterra's site, that there was a new banner posted(seen below) that asked people that were having issue with their hashrate not being applied to fill out a form(also seen below).

I filled out the form, and again waited for my hashrate. A day went by and I started seeing posts on the Facebook group page that people were finally getting their hashrate after filling out the form, but I still had not received mine. Another day passed and I woke up to a surprise of seeing Zcash being mined. Hooray, first hurdle jumped!!! Next will be if I am able to make a withdrawal, which also looks promising based on people posting on the Facebook group about successful withdrawals(albeit they apparently do batch and they are slow). You can see proof of my active mining below.

As each day passes, I am beginning to feel a little more comfortable with my decision to try Crypterra out. New miners are not having any problems with their hashrate purchases now. It appears that many of the issues are being attributed to them being a small operation, and getting a very big rush of people all at once. They recently updated their Twitter with the below Tweet, which is promising as well.

So is Crypterra a scam? All I can say is that if they are, they are really bad at it.

Disclaimer - No advice is given with this post. Please make informed decisions and do not risk any money that you can not afford to lose.

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Their website has been offline for a few days now

I have had a very similar situation with a positive outcome. Thinking back hashflare had many issues during its initial launch and several more afterwords. Crypterra seem to make the attempt to meet the exceeding demand yet growth is still outpacing. Support is not the greatest and the website is flawed, yet they say there is an entirely new site on the way.
D579B451-77BB-4D36-B90B-6C00F0696219.jpeg
Yet I feel the small change with security pin for withdrawal and payment gateway is all we will see for now.
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I have had 2 $10 payouts in btc(eth gateway was down) on the smallest eth contract possible but now the withdrawal minimum is almost 10x previous but it still looks as if I will get paid out. Plus during the website downtime my balance did continue to accumulate.
AD7B2540-DEA9-4751-8C0A-051E44C2FF91.jpeg

My big problem is lack of support response, when I first made my purchase it was lost in their system because my browser crashed on confirmation screen. I was credited for the 4mh eth almost immediately after posting a support ticket but no explanation from support till days later. I believe they are just completely overwhelmed with the growth they have endured. My second purchase went through no hassles, both were paid in ltc. It was 250 btc which I have yet to receive a payout because the earned amount was just too low(declining value of btc) before their site went down and with new withdrawal minimum it looks as if it will be nearly a year.

There are 2 ways too look at it either they needed to adjust payouts so only larger players will receive payouts and continue too draw in smaller investors which will not payout before they exit, or it is the same issue hashflare is enduring with decreased trust leading people too overwhelm withdrawal systems with multiple micro transactions.

So far so good imho 😊

Cypterra not paying out for long. Looks they are vanishing

I agree i have been waiting for a long time now, I will have to do another write up on this thank you for reminding me!

Crypterra is a scam, I just find this review on it:- https://www.newsonlineincome.com/crypterra/

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