Miners Center Offers Premium Price for Bitcoin - Beware!


Miners Center Offers Premium Price for Bitcoin: Beware of Possible Scam!

Whenever an offer sounds too good to be true, you can bank on it being exactly that. Ever since Bitcoin was introduced to the world, there have been a number of scams and shady services targeting this market. Miners Center is the latest company to offer a shady deal these days, as the company pays a premium price per BTC and includes a surprise gift of transaction worth over 10 BTC.

Also read: Senate Passes Cybersecurity Threat Sharing Bill: Tech in Trouble?

Miners Center Preys on Unsuspecting Bitcoin Users

Bitcoin.com_Bitcoin Miners CenterMiners Center is not the first company to offer premium prices when buying users’ Bitcoin. In fact, there have been several scamming websites in the past, such as My Wallet LTD., claiming exactly the same thing. Additionally, when selling Bitcoin, users should never accept Paypal transfers, which is something Miners Center is offering. Bank transfers are an option as well, but chances of getting your money are slim to none.

But before we get ahead of ourselves, let’s take a look at the facts. Miners Center uses a simple website layout. A standard website template, combined with a free live chat plugin and a 10% premium on top of every BTC sold, should be plenty to entice unsuspecting Bitcoin users.

One argument to be made in favor of Miners Center is how they issued a press release about their new business. However, it is quite strange to see this company make such bold claims, especially since their website was registered less than six months ago. Furthermore, there is no history of this company anywhere to be found, nor is there much company information on the website either.

After conducting a quick WHOIS search — something everybody should do before dealing with an unknown service — we learned absolutely nothing. All of the website registrar information is privacy-protected, giving no indication whatsoever as to who runs this website. Companies in the Bitcoin space are usually quite open about their information, but there is nothing to be found about Miners Center, not even a company number to check.

Some of the information on the website does seem to add up, however, as the phone number listed is, in fact, a number belonging to an address in Wilmington, Delaware. However, when doing a reverse lookup of the phone number, it does not seem to be an active number, or it is not listed anywhere. Quite strange for such a young and aspiring business, wouldn’t you agree?

But that is only the beginning, as the address listed on the Miners Center website is another tricky part. While the address itself does exist, and it is an office building renting out space to various companies, Miners Center itself is not listed as one of the tenants. Unless it would be listed under a completely different name that is, but since this information is privacy protected, it’s all but impossible to check records properly.

To make matters even worse, Miners Center offers Bitcoin sellers two types of payment methods. On the one side, there are bank transfers, which can take anywhere from two to five business days to clear, if they ever get sent at all. On the other hand, there is PayPal, a reversible online payment method linked to credit cards and bank accounts.

It is no secret that PayPal has a high rate of fraud and chargebacks, simply because there are so many users who fall for phishing schemes. Any Paypal transfer can be fraudulent, and as far as Bitcoin is concerned, it is a preferred payment method among scammers. Bitcoin transfers are non-refundable, whereas PayPal transactions are. It is simply not worth taking the risk.

User Statement Regarding The Service Is Not Positive

Bitcoin.com_iMessage Miners CenterAccording to information we have received regarding this service, one user decided to sell 0.2 Bitcoin to Miners Center and check if the service was legitimate. Lo and behold, the Paypal transfer came through, but it was from an account not registered to the company itself. While it is not uncommon to receive transfers from personal or business PayPal accounts in a different name, there was cause for concern.

That concern turned out to be justified, as the PayPal account owner got in touch with the recipient. It turns out this transfer was fraudulent, and the money had to be refunded, which the user did. After reaching out to Miners Center and ask for an explanation, all communication stopped.

Even though user experiences always have to be taken with a grain of salt, Miners Center does not look to be legitimate in the least. While we are not here to discourage users from trying out the Miners Center service, this article just serves a warning that this offer seems to be too good to be true. Plus, the lack of information is not building any trust relationship either.

What are your thoughts on Miners Center, and will you be using their service to sell Bitcoin? Let us know in the comments below!

Website: Miners Center

Tags in this story
Fraud, Miners Center, Paypal

Images courtesy of Shutterstock, iMessage

Jean-Pierre Buntinx

Jean-Pierre Buntinx is a freelance Bitcoin writer and Bitcoin journalist for various digital currency news outlets around the world, Jean-Pierre also has a keen interest in Fintech and technology, and he is always open to new challenges.

Show comments