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By using Investopedia, you accept our. With thousands of new blockchain-based companies entering the market with unique ideas and exciting projects, users can now back their favorite businesses easily. Login Advisor Login Newsletters. The company offered investors massive earnings, and even luxury goods and perks for paying more. On a final note, this review is about Genesis Mining but I think you can probably copy and paste its characteristics to most legit cloud mining companies out there. Some companies offer "lifetime contracts" that keep costs the same and supposedly offer outstanding returns. The web.. HashFlare, a cryptocurrency cloud mining services, has shut down its.. This is far from the only issue, however. The company stands accused of portraying fake team members, misleading investors, and lying about their products. Thus, many investors have been left penniless when the exchanges they signed up for turn out to be traps. Others simply operate Ponzi schemes that can lead to massive losses. Usually, as small as key-chain USB drives, these wallets offer an offline way to help crypto investors protect their bitcoin even further. Centra Tech, for example, a blockchain venture backed by several celebrities, has been sued in the US.

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