EBay Contracts: Mining or Fraud?

A new trend has appeared on the eBay auction site – the sale of small mining contracts. Some features of these transactions raise questions and may show signs of fraud.

Under the terms of one of the contracts, the buyer receives 0.25 Ethereum (ETH) at a price of $ 125. In fact, they just sell him ETH, but almost twice as much as the original price ($ 213.05). The seller may not even mine, but simply send ETH to the buyer.

There is another type of contract without a guarantee of receiving coins. After all, mining using the PoW algorithm does not guarantee a reward, so in this case, a contract with the hope of the best is simply bought on eBay. This is mostly true for Bitcoin (BTC), the hashrate of which is close to peak levels at 79 EH / s.

The third type of contract involves the sale of not too popular coins at a relatively high price. For example, 100 DOGE (Dogecoin currency) will cost $ 0.58. Note that DOGE is not mined separately, but is produced in the process of mining Litecoin (LTC), so this contract is another sign of scam.

In addition, there are contracts for mining TRON, which is all the more strange, because TRX, in principle, is not mined, delegates issue currency. In any case, the buyer purchases TRX at a price of $ 0.027 per token, while its market price is approximately $ 0.021.

Over the past couple of months, cloud mining services have been activated, this is due to the growth of Bitcoin (BTC). Altcoins as always lagged behind, and in order to increase interest in them, various schemes of mining or staking reappeared. Cloud mining, as a rule, is not profitable and is tantamount to a regular coin purchase, especially in competitive networks.

And another type of contract involves the leasing by miners of their capacities, sending part of the coins to the buyer of the contract. Accordingly, ETH mining can be valued at $ 700 during the year. Thus, the owner of the facilities will receive a guaranteed payment, and the tenant may be left with nothing. Moreover, renting capacities for one month can cost about $ 179, which, unfortunately, does not guarantee the production of even 1 ETH.

Currently, mining BTC can bring high returns, but in the face of fierce competition. For altcoins, buying mining contracts is the worst way to earn crypto assets, especially if these contracts border fraud.

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