<a href="https://musing.io/q/javalord/p3ktga77x">View this answer on Musing.io</a><br />

<p>Oh boy this is a really good question, I've actually lost some money to scamming sites like ethonline.io and others. I did some research and was able to find out the best ways to figure out if a mining site is a scam or not, if you see any of the following then that's a red flag;</p><p>1. They hide the name of the person the domain is registered to: Well if you're going to run a scam then you'll probably want to make sure that it can't be traced back to you so making sure that people can't see who the domain is registered to is a good way to start. If you see anything like this then you better keep your cryptos close to you.</p><p>2. They never show proof of equipment: How's a mining company supposed to mine any cryptosphere if they don't have any equipment. They'll delay and delay and keep on delaying and ultimately you won't see any mining equipment whatsoever. Just look at genesis mining, I believe they flew out @trevonjb to come see their new mining rigs, a scam site would never do that.</p><p>3. They're basically Ponzi schemes: Well that's what it usually boils down to, a Ponzi scheme. If you trae their transactions well, you'll find that all they do is use other people's money to pay you and then keep some for themselves. It will be evident in the transactions for all the wallets that people make deposits to.</p><p>4. They'll have ridiculous RORs: Any site that promises you 50% profit by the end of the month is most definitely a scam. Genuine mining sites like genesis mining only offer a fraction of that and their contracts usually last upwards of at least a year.</p><p>5. The mining pool won't have a public mining address: This is perhaps the best way to confirm if the site is a scam or not. If the site doesn't have any signed blocks then you're definitely dealing with a scam. If you want to be make a rather large investment then request that they specifically sign a block for you. If they do it, then it's legit, if not, take your money and run!!!</p><p>I hope this helps</p>