Bitlegioncoin review: A Cloud Mining Scam

Bitlegioncoin is a complete mess, especially for investors who sign up thinking it’s a Crypto exchange. The platform claims to have 2800 new customers every day, a number we have doubts about. Bitlegioncoin.com also claims to have 0 percent theft which is another false narrative. Members are up in arms over what they term as unfair conditions. We had to dig deeper to find out the reason behind their anger. Learn what we found out in our detailed BITLEGIONCOIN Review.

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A Closer look at Bitlegioncoin

Everything about Bitlegioncoin is surrounded by mystery. The homepage does nothing to inform users of what exactly they offer. At first, it looks like a Crypto exchange platform. Once you land on their homepage, you find it offers several services.

Some of the services listed include crypto trading and cloud mining services. The issue is they don’t disclose how they offer these services or the terms and conditions.

According to their history, the platform first introduced its mining pool in November 2017. GHash is the mining pool they claim first to create, which is not the truth. Our investigation will reveal the facts about this platform.

These facts include the actual running time and the exact date the platform went live. The history information is a way of trying to popularize the platform to unsuspecting investors.

A multi-level Bitlegioncoin account system

Bitlegioncoin claims to offer multi-level accounts to investors. At first, they were planning to roll out these accounts in 2017. A closer look at the entire page reveals no multi-tier accounts. And this could be a huge problem for investors.

Investors go in not knowing the conditions for these accounts. No one knows the acceptable minimum deposit or ROI of each account. We are all left in the dark when it comes to account types.

You must sign up first before support explains the available accounts. One of the victims pointed out an account with a daily guaranteed profit margin of 100 percent. When it comes to withdrawals, the platform offers weekly withdrawals.

We can straightaway tell you there’s no such thing as guaranteed profit margins. These are false statements meant to drive up sign-ups. The people behind this platform will do or say anything to get you to deposit funds.

Account registration

Opening an account with the platform is easy, and the process takes less than five minutes to complete. You have to fill in your address, contact, and full names. It’s an easy process until they ask for verification documents.

The platform will demand valuable documents from you as part of the verification process. These documents include a copy of your ID, bank statements, and credit card details. We don’t see the reason for this strict verification procedure.

Donald Gerald, a crypto-security expert, warns of the consequences of sending such data. The documents are not in safe hands as the platform is completely anonymous. There’s no telling what they do with the documents.

Our guess is they plan to harvest banking information from their clients. Once they do so, they can charge their credit cards with online purchases. These people can also create another persona with your documents.

Bitlegioncoin license and registration

Bitlegioncoin is far from being a legit cloud mining platform. There’s an attempt to make the platform look legit on the website. Bit legion Coin claims to follow KYC rules and is registered in the EU through ICO.

We did a closer look at the registration procedure and also all registered ICO platforms. The website in question was not found on any registry in the U.S or U.K. It goes to show the extent to which they will go to fool investors.

There’s not a single document to support their claim of being compliant. We would expect the platform to post copies of their license and registration details. There’s no company register with their name on it.

With an unregulated cloud mining platform, investors stand to lose more than they deposit. It’s best to ignore the platform and go for proven alternatives. The platform has no legal standing, which makes them an investment risk.

Business owner

Anonymity is another grey area that makes us doubt the intent of the platform. Apart from posting a company name, we have no other records of the owner. Bitlegioncoin Ltd claims to own the platform.

There are no records in the United States or the United Kingdom about the above company. It doesn’t exist, which means it’s an anonymous or unregistered platform. Signing up with such an entity is risky.

Contact and support

Another reason to stay away from the platform is the lack of customer support. There’s no contact page or information regarding the platform. We find it hard to believe they left this part out by mistake.

There’s a good reason they fail to inform the public of their actual address. Anonymous persons wouldn’t want anyone to recognize them. With the platform already in disarray, no one wants to be associated with it.

Domain records (bitlegioncoin.com review)

Once you get domain records of a platform, there’s a good chance you have their online history. And that’s what we did with bitlegioncoin.com. The claim they have been around since 2018 is false, and the website is barely 69 days old.

March 23, 2021, is the exact date the platform went live. The name of the registrant is redacted for privacy reasons. It also shares the same server as other low-rated cloud mining platforms. The domain is not found on any ranking by search engines.

Features of Bitlegioncoin

Options trading

The platform also seems to offer the buying and selling of options. There’s no information on their strategies or trading platform. The claim of having TradingView as their platform is not true.

TradingView is a platform that is readily available to anyone. It has its disadvantage, such as lacking necessary trading tools. We would only recommend MT4, MT5, and SIRIX for your trading.

Safety of funds with Bitlegioncoin

The safety of funds is another reason why we ignore this platform. There’s no guarantee your funds are safe with the platform. Bit Legion Coin does not offer any security measures to protect investments.

One would expect the platform to offer insurance cover for deposits made. With an insurance cover, investors would be safe from bankruptcy and insolvency. Investors would get compensation in the event of the two scenarios.

Since the platform lacks regulation and takes no security measures, we have to stay away from it. With complaints flying left, right, and center, we have to keep our distance.

Scam or Legit Bitlegioncoin

Bitlegioncoin is a lost cause with no clear way of helping crypto investors. All their efforts to try and look legit go down the drain.

Bottom line

Due to the risks involved with Bit Legion Coin, we have to add them to our blacklist.

As an investor, the best way to invest in cloud mining companies is to have proven entities. Go for the best cloud mining companies the industry has to offer.

Feel free to leave a comment or email us with any Cloud mining queries.