CryptoTab - An Honest Review - Confirmed Scam - 02 April 2018
A while back I did a post introducing a new project a found called Cryptotab which is a browser plugin for Chrome and Firefox that allows you to mine crypto for free while using your PC or Laptop. I thought it was an interesting project since i am a fan of the concept and possible use cases for cryptojacking
Check out my review on Cryptojacking here
While I wasn't expecting to get rich quick since I know mining BTC without an ASIC is not going to generate real returns I wanted to give it a go and share my experience with you.
**Here's a link to the previous articles:
- How to Mine Bitcoin While Simply Browsing The Internet
- How to boost your mining power with CryptoTab
One month in
So I've been running the browser plugin for 1 month and was able to mine 0.000044081408BTC which is roughly $0.309 a the current price of (1 BTC ≈ $7015). So I am nowhere near the current $4 minimum payout threshold and doubt I would reach it anytime soon.
It is also important to note that this mining performance isn't just on my own PC at the time between posts I was able to rack up 54 referrals of people who signed up for my previous posts.
The verdict on cryptotab
It is almost impossible to make any sort of real money using this tool and it looks to me like the developers are pocketing the majority of whatever is mined and spreading a small % of the participants. While it's not an out of out scam since they're not taking your money they are selling you false hope and using your resources to benefit their personal ambitions.
I would urge you to give this project a miss and look to other ways of earning cryptocurrency.
Doing the math
Cryptotabs calculator claims that you can earn up to 6 dollars a month with only 10 referrals. I have 54 and I only made 30 cents which are 20x less return than they promised for 5x more referrals than recommended
This means that myself and my 54 referrals need to mine for 20 months to get the 6 dollars they claim I would get in 1 month.
Clearly there's something fishy going on here. Cryptotab isn't the scam in the traditional sense but it way over promices on its returns and suckers users in hoping to create a constant pyrmid of users who come in and give up but during that time lend their resources to make the developers of this projec tmoney
What other cryptocurrency content creators are saying about Cryptotab
Don't just take my word for it other crypto enthusiasts have also called out CrytoTab on their business model
Decentralized TV
MrSotko CryptoCurrency
Feedback from Steemians
A fellow Steemian named @arkstrikle was kind enough to share his experience with cryptotab in my previous posts sating
so after mining 1.00 us in btc i did a payout and its still says pending so see if its real or fake if ever goes thru
so mined a over dollar of btc i got payout 12 hours later 1.11..now after its done 0.14 cents .ca this is a SCAM
Have your say
What do you think of cryptotab? Have you tried it out already? Have you reached the minimum payout? What was your experience like?
Let me know in the comments below
Let's connect
If you liked this post and what to hear more from me then follow me @chekohler
CryptoTap is Scam?
Yes, basically it is a scam because they're using you to get more money than they giving you! I highly recommend you stay away
I have 0.0006 BTC on my cryptotab, i Will stop it,
Cash out what you can and move on. You can look at sites like earn.com or participate in airdrops
Ohh, Thanks for your information
My pleasure, also gave you a follow :)
it is not a scam. As long as someone doesn't ask you for money in advance then i don't see the scam rather it is a system that you benefit from sharing you power through your laptop.
Play trading for free & win real Bitcoins at https://battletraders.io/?ref=rAjTJ9g0_
Deleted
2.5ghz quad core i5 but it really doesn't matter the most you can mine with an ordinary cpu is around $3 a month with monero which they then take a piece of and allocate it to your account in bitcoin. Without 1000s of reffereals you're not making any money
I have a friend who made 1.76$ with 2 referrals and around 1 week.
I'm one of his referral and I use CryptoTab for around 4h in that 1 week, I suppose his other people wasn't really active, they are in Cameroun with a cheap computer or none.
So maybe it works.
I mean they ask no cash, but they take a part, if they quit they lose their income (cryptotab), it would be stupid to do that.
The issue for me is that you mine bitcoin and you lose cash when you do it, you only make money when you have referrals because you make money on them, so they could mine another crypto, it would be better.
I'm going to test and come back with an answer.
Did you people was using the software or you have no idea?
The point of the post isn’t to say that you can’t make money on cryptotab, you can! You could make money with bitconnect and davor and all the other scams that made people money at the top! The bottom line here is that by people spreading referrals the only ones really winning in this game is the developers and it’s not sustainable model for anyone! Yes a few people at the top will make money and sell you the idea that you can too but statistically only 2% or less of anyone who signs up will make any decent money! You better off faucet farming or trading
i have a old schoolfriend who is contantly spamming this on all social media channels. i find it weird how people fall for this. not only will you never see a real profit out of this but people seem to forgot that you are also shortening the lifespan of your hardware. you will never make enough profit with this to counter that.
well... people just love MLM's.
lol @playec1992 people don't think logically and think they've stumbled upon the next goldmine meanwhile its just another MLM the "product" is just different. I just love how they get so evangelic about it and get upset when you bring them the statistics. Like no if you work hard, you'll make it narrative is just so strong with people who get suckered into MLM's. MLM's along with lotteries are an idiot tax. Please feel free to share this post with your "old schoolfriend"
Hello @chekohler, I read your article about cryptotab and I have to say that you are kinda wrong about it bro, Cause you said that you have 54 referrals and after a month you only have 30 cents while they said you'll get $6. Here is why you are wrong, First, they meant 10 referrals who are 24h active and Second, having 10 active referrals doesn't mean that you will earn $6 after a month for sure cause you get %15 of their mining right? So not everyone posses a high-end CPU so their hash rate is different some are lower some are higher so you might get more than $6 or less than $6 after one month, It depends on your referrals hash power. Third, for the payout since they take super low fees from you for your withdrawals it will take much longer to confirm in the blockchain or might not confirm at all but every withdrawal I ever requested so far has been confirmed, some of them took 1 day and some others took 2 or 3 days you confirm, At the end I'm pretty sure that this is not a scam. BTW I meant no disrespect bro, Peace.
No offense taken and thanks for the explanation! I’m well aware that the application does pay out to the users and I’ve had plenty of cryptotab users come at me about this post showing me they making money which I’m glad about the more distributed BTC is the better
All I’m saying is you’re not going to make any money without referrals and in the end the majority who sign up make no money! Only active shillers of their link! The guy who just has it open on his browser hoping for a payout eventually is out of luck!
Maybe it’s not the applications fault but they way it’s shilled to people isn’t honest in my opinion! Same with bitconnect! At the end of the day the only one making real money are the devs and you know what I ain’t mad at them either!
I just wrote this post to educate people who want to hear the counter argument
Posted using Partiko iOS
I agree, what you say, But not everyone posses a high-end PC or a miner to mine cryptocurrencies profitably like me, But this platform help me to earn BTC with my low-end PC and it seems fair to me if the Developers take some my earning for themselves. I can't buy a miner or a better PC to mine, But I can spend a few dollars to get referrals and earn BTC. Peace Bro.
Do you think CryptoTab also steal our information? Now they browser, that is Chrome-based, so your account you signed in with, that has smart passwords, is it possible they can access it?
Well they can sell your information on to advertisers if they wanted to I mean a large group of email addresses of people who are interested in crypto should be valuable to some companies. But we can not know that for sure, I think they're still busy building their network of new suckers to keep downloading their app
There are many software which are scamming people.
Indeed, especially in the crypto space! You need to be careful about where you invest your time and money and do your own research. My opinion should not be enough, I'm just putting it out there so people can use it to draw their own conclusions