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💀SCAM SAGMINING.com Review: SCAM or LEGIT?

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Galen

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Sagmining.com Review: SCAM or LEGIT?

Sagmining.com is a Bitcoin Cloud Mining site that promises a maximum ROI of 3.3% per day if you deposit between 0.5 and 5 BTC. What this means is that if you would for example deposit 1 Bitcoin, then you would be earning roughly $366 a day at the current price of BTC ($11100).

cloudmining.png

They have some other plans too, all of them promising some insane daily ROI. If you google sagmining.com, the first thing that comes up is their Trustpilot page where they are sporting a 4.7 out of 5 rating with nearly 1800 reviews. What's not to love, right?

Well, for one, it is a known fact that the vast majority of cloud mining sites are straight-up Ponzi scheme scams.

No one is going to just give away free money, especially the amounts that they are promising. That is what they would be doing if they sold you their hashing power at a loss so that you could make money. That is also exactly why most of the scam cloud mining sites are selling hash power that, in reality, does not even exist.

Even if you give them the benefit of the doubt, despite knowing this, it is blatantly obvious that something is not right. There are several warning signs of a scam with sagmining.com - a template site, no real contact details, poorly written English, unrealistic promises of ROI etc. They also like to plug in the word LTD everywhere they can in their name, along with their certificate of being a private LTD company.

The fact that they are a registered company in the UK might lead to you believe that is in fact legit. Here's the thing though:

It is ridiculously easy to set up a limited company in the UK. It costs you a measly £12 and the process takes 10 minutes.

certificate-of-incorporation

There are even sites that offer people living outside of the UK to open up an off-shore company in the UK. Suffice to say, being a registered LTD company in the UK does not give you any credibility. You can read more about the abuse of LTD incorporations here.

Looking closer into their company, you can see that they were incorporated on the 29th of May this year.

Pretty impressive to have gathered this many great reviews over on Trustpilot for a brand new company in just a matter of months, don't you think?

This is a common tactic of cloud mining scam sites such as sagmining.com. They pay people to testify that they are legit all over the web, not only on sites like Trustpilot but also on forums and social media. In the control panel, they even offer you 5000 satoshi for rating them on Trustpilot:

button-with-reward-for-rating-them

If you couple that with their insane affiliate programs, it isn't surprising that these scams spread pretty quickly.

Now.. I actually tried this service to see exactly how they scam people. Despite all that I know, I am that dedicated to putting a stop to these blatant scams. To my surprise, I was actually "paid" to begin with, if you could call getting paid being them just updating your wallet with Bitcoin that likely does not even exist.

When it came to withdrawing those earnings, however, things were not as easy.

When I attempted to withdraw my earnings, the site informed me that my account withdrawal limit is 0.001 BTC per week. I had not withdrawn before that, so it was a little bit peculiar since what I was trying to withdraw was below that amount. Furthermore it told me that, were I to invest in their own cryptocurrency "SagCoin", this restriction would be gone. I would have to buy 50% of what my current wallet credit was in SagCoins.

And of course, I could not use my wallet funds, so I would have to pay with my own, real money.

Here is a video on YouTube illustrating exactly this if you want to see it live.

After reading up some more on their SagCoin, which is an awful name for a cryptocurrency by the way, I realized what kind of scam this was. If you were to buy SagCoin, then you would likely never be able to sell it. On their info page for SagCoin, they boast about their huge plans for SagCoin:

"In 2021, the company is planning to introduce the SagCoin Tokens to the major worldwide exchanges, such as OKEx, Huobi, Binance. This step will allow us to promote the platform, which, in turn, will lead to an explosive increase in the value of the coin, multiplying its holders` capital by dozens and even hundreds. "

Yeah, that's never going to happen. SagCoin is not even exchangeable yet, hell, it's probably not even a real cryptocurrency, just numbers on their page. When push comes to shove, they have ZERO information on what technologies they are even using.

So you would essentially be paying for something that you, at best, would be LUCKY to ever sell. So while you may be "earning" 3% ROI on paper, the reality is that there is likely no mining even being done and they are simply making a profit of you in the end.

So, with all that said I can with full confidence say that sagmining.com is a SCAM and you should stay away from it and all of the scammer's other sites. I am fairly certain that the people who run this site also were behind ecohashes.com, and another site called wolkemining.com which I will be making a separate review for soon.
 

mikenova22

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Christ, you may actually be right about them owning wolkemining.com too, it looks awfully similar. Alot of the text and blocks line up, just a different theme or something. They seem to like to brag about being a registered LTD company too lol
 
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vest1992

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I knew it, I was thinking to invest in something similar though my intuition settled me not to, we appreciate your precise review.
 

CryptoJoe

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Christ, you may actually be right about them owning wolkemining.com too, it looks awfully similar. Alot of the text and blocks line up, just a different theme or something. They seem to like to brag about being a registered LTD company too lol
Sagmining IS Wolkemining!

NOW they only allow you to “withdraw” 0.0006500 btc/WEEK(!) - unless you buy their ShitSagcoin.

(I was SO STOOPID as to invest in both - I couldn’t find ANY real reviews.
I had been out of the CC loop so long, my scam radar failed me!!)

I REQUESTED a withdrawal from one, and the other said I was over my limit...

I’ll be surprised if I even see that lousy 0.00065 btc!
 
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CryptoJoe

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TRY TO WITHDRAW ANYTHING AND THIS IS WHAT THEY WILL TELL YOU !!! !!! !!! :



Your account withdrawal limit is 0.00065 BTC once a week ( every Sunday ), Buy SagCoin under Company rules get unlimited daily withdrawal limit.



There is no limit on withdrawals for SagCoin Holders. As the new rules on the account of each user must have a SagCoin.



On your account, SagCoin balance must have a minimum of 50% of your active deposit balance. Which it will bring 270% profit on Sagcoin plan.



IN OTHER WORDS: YOU MUST BUY SAGCOIN EQUAL TO 1/2 YOUR SAGMINING BALANCE TO GET WITHDRAWALS BEYOND 0.00065 BTC/WK !!!



YOU MUST USE YOUR OWN, NEW MONEY, TO BUY SHIT-SAGCOIN, NOT FROM YOUR SAGMINING BALANCE !!!
 
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vest1992

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It happens man, I also lost $180 yesterday, we move forward... it happens, I know that I couldve used that money for half of month to rent an apartment when my lady gives birth. We get up and move forward. Sorry to hear that.
 

Galen

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Sagmining IS Wolkemining!

NOW they only allow you to “withdraw” 0.0006500 btc/WEEK(!) - unless you buy their ShitSagcoin.

(I was SO STOOPID as to invest in both - I couldn’t find ANY real reviews.
I had been out of the CC loop so long, my scam radar failed me!!)

I REQUESTED a withdrawal from one, and the other said I was over my limit...

I’ll be surprised if I even see that lousy 0.00065 btc!
Really sad to hear that my friend. I was also having trouble to find a legit review of Sagmining/wolkemining, but I couldn't find any, only fake reviews paid by them. So I decided to write this. Hopefully it can help some other people at least.

Question, did you buy any SagCoin?
 

zuvuya4

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Really sad to hear that my friend. I was also having trouble to find a legit review of Sagmining/wolkemining, but I couldn't find any, only fake reviews paid by them. So I decided to write this. Hopefully it can help some other people at least.

Question, did you buy any SagCoin?
From what I see on SagMining's site, if you invested in BOTH (a contract and sagcoin) then you "should" be able to withdrawal any amount, (so long as the amount of the "sagcoin" you bought, is at least HALF of your net deposit sum... (so if you invested $400.00 in mining contract, then you'd have to buy another $200.00 just to achieve unlimited withdrawals.... definitely smells scammy !!! But im curious if anyone has fulfilled these requirements, and then thusly achieved unlimited withdrawals...?? Its not a sustainable business model, is why Im so concerned. In that, even if they do pay out, they wont be able to do it for very long, and are likely robbing Peter to pay Paul.

Peace!
z
 
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Vincent

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Its not a sustainable business model, is why Im so concerned. In that, even if they do pay out, they wont be able to do it for very long, and are likely robbing Peter to pay Paul.
Couldn't have said it better myself. This is exactly what I think they are doing.

It is likely so that the people who want to withdraw small amounts are allowed to do so, or at least some of them are. But when there are someone who deposits a larger amount of crypto, they will simply run with their money.

They may potentially even fund the smaller withdrawals with money from those that they scam (if they do actually give out withdrawals at all, that is).

Would love it if someone that has successfully withdrawn, with concrete evidence, could post it in this thread!
 

zuvuya4

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Yes, and lets NONE of us forget, that, IF YOU MADE A DEPOSIT WITH THEM, but had not yet bought the SAGCOIN in an amount of 50% your deposit, (so if you gave 500.00 worth of BTC to mine, they ask you for another 250.00 = $750.00) before they will allow you to make unlimited withdrawals greater than .00065 per SUNDAY ONLY!!! Oh lord! And I am betting, that if ANY OF YOU HAVE bought the 50% of SagCoin they require, you will still be unable to make any withdrawals. Something will happen.... I know these types. They are playing on that fear in you, that you MIGHT JUST BE MISSING OUT ON UNLIMITED WITHDRAWALS (FOMO!) IF ONLY for another $$? I really hate scammers and know there's a Special Place in Hell just for them. Like maybe they will spend eternity getting SCAMMED 24/7 x365!!! LOL!

We all make mistakes guys, just learn, and dont make the same one's!!!!

Peace!
z
 

Hopestux

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Yes, and lets NONE of us forget, that, IF YOU MADE A DEPOSIT WITH THEM, but had not yet bought the SAGCOIN in an amount of 50% your deposit, (so if you gave 500.00 worth of BTC to mine, they ask you for another 250.00 = $750.00) before they will allow you to make unlimited withdrawals greater than .00065 per SUNDAY ONLY!!! Oh lord! And I am betting, that if ANY OF YOU HAVE bought the 50% of SagCoin they require, you will still be unable to make any withdrawals. Something will happen.... I know these types. They are playing on that fear in you, that you MIGHT JUST BE MISSING OUT ON UNLIMITED WITHDRAWALS (FOMO!) IF ONLY for another $$? I really hate scammers and know there's a Special Place in Hell just for them. Like maybe they will spend eternity getting SCAMMED 24/7 x365!!! LOL!

We all make mistakes guys, just learn, and dont make the same one's!!!!

Peace!
z
That s such a rip from them.. thanks for the heads up. It is amazing what this forum does, how You can learn from others results, thanks again.
 

vest1992

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Couldn't have said it better myself. This is exactly what I think they are doing.

It is likely so that the people who want to withdraw small amounts are allowed to do so, or at least some of them are. But when there are someone who deposits a larger amount of crypto, they will simply run with their money.

They may potentially even fund the smaller withdrawals with money from those that they scam (if they do actually give out withdrawals at all, that is).

Would love it if someone that has successfully withdrawn, with concrete evidence, could post it in this thread!
Well if they pay 100 people with low income with 20% out of someone who invested huge they still remain with 80% of investment and 1/100 reviews is low.
 
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hani20980

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Hello Galen thnx for this review well i think most of those mining websites with daily per cent are not mining anyway
they just investing your money i think only someone insane will invest 0.5 BTC or more in this kind of websites
 
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