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Zikhash Review: is Zikhash.com Scam or Real?

Zikhash Review: is Zikhash.com Scam or Real?

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Last Updated: May 15, 2020 @ 1:59 pm

Do you want to earn Bitcoin, Litecoin, Dogecoin, Ethereum, Zcash and many more? Zikhash claims that it can give you this opportunity. They are allegedly cloud mining Crypto currencies and offering 5 GHs of bonus hash power. They claim that they are using the latest equipment and the newest calculation algorithm. The site promises a number of benefits to investors who sign up. However, they are also telling us that this is not an opportunity to experience a comfortable future. So the question is why you should mine Crypto currencies if the reason why people mine these coins in the first place is to secure a good future.

Apart from offering 24/7 customer support, the site also claims that returns are realized in record 55 days. Money is generated 7 days a week on this site. In addition to this, Zikhash claims that they are processing payments quite fast as requests are processed within 10 minutes. This is allegedly one of the many advantages of dealing with this site because they claim that other sites take days in order to process payouts. Other than an elaborate affiliate program offering 10% commission for every person that is referred, the site does not appear to offer any other advantages.

The site appears to have been launched last month as it is a brand new site. In addition to this, they tell us that they have already acquired over 5k investors. This is not real and we wonder whether they can prove that they have acquired this number of users within such a short time span.

You need to read this article to understand why you absolutely should not invest any money with Zik Hash. ZikHash is presented as a platform for cloud cryptocurrency mining. This service allegedly mines ten cryptocurrencies, bitcoin, litecoin, dogecoin, ether and zcash being some of them. The calculator on the website shows that you allegedly can earn 1.8% per day on your investment, 54.54% per month and 663.63% per year. Is it real?

Definitely we smell a rat here and we need to investigate further because a typical crypto currency cloud mining site never specifies the amount of daily returns that investors could earn. They never quote these numbers in percentage unless they are operating a ponzi scheme. In fact, 54.54% a month is an impossible number. This is definitely not Crypto currency cloud mining. This is something else as opposed to Crypto currency cloud mining. So yes this is not real and if you are looking for a real Crypto currency cloud mining site that will generate returns for you, this list of sites can be really helpful. But don’t be convinced that ZikHash is not a get rich quick scheme. It is in fact a get rich quick scheme which is contrary to what they tell their audience on the sales page.

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ZikHash review

You have to understand that this is not a real cloud mining operation at all. What we know is that these people are not mining Crypto currencies at all. The reason why we have made this conclusion is because of the numbers which they claim we can earn as returns for our investments. 50% monthly return is not something you can expect out of Crypto currency cloud mining. And these people know it very well… that crypto currency cloud mining does not generate that much. Even investors who put in a lot of money cannot generate more than 5% a month. So this site is definitely running a ponzi scheme as opposed to a legit mining operation.

The reason why we cannot earn these astronomical figures in Crypto mining is because there are many factors that influence what we can realistically earn in a given month. Other than the costs associated with electricity and maintenance, there are costs that are related to the price of Crypto currencies being mined as well as the competition that is being faced in the blockchain since a lot of people are also mining the coin at the same time. At the end of the day, profits cannot be more than 5% in any given month.

A true mining company will have a price list where you can see how much you have to pay for a certain mining power and there will be no promise of daily earning, because crypto price and mining difficulty are changing over time, so it is impossible to plan profits.

Plus, a true mining company will show you proofs that it really has hardware at its disposal so you can see that you are renting some true hash power.

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ZikHash has noting, no hardware, it does no mining, it’s just a simple scam. It very probably works as a Ponzi scheme, it just plays around with deposits until the system fails and money disappears. It is an illegal financial game.

Why this site is just a scam and not a real Crypto mining platform

We would like to know who owns and operates this site. This is what they are giving us in their about us page.

”ZikHash.com is a mining platform for cryptocurrency mining.
We do not promise you mountains of money and a comfortable future, but we will give a chance to everyone. Just pass the registration and start mining.
Start earning without investment, get a bonus in the form of 5 GHS. It will allow everyone to try yourself in the sphere of crypto-mining!
We use the latest equipment and the newest calculation algorithm!
Our service provides the ability to produce more than 10 cryptocurrency, such as Bitcoin, Litecoin, Dogecoin, Ethereum, Zcash for etc.”

Our best advice for you

As you can see, this is not a proper definition of a serious business venture focused on Crypto currency cloud mining. They have not told us about their company, the people who work here and their achievements. Even their physical address has not been provided except contact address. That is just how far criminals are willing to go hoping they will trick a bunch of gullible people with money to invest. You need to identify serious websites that truly mine Crypto currencies.

CryptoInfoWatch

Did you come across Avelon, the cloudmining website and you’re certain that you’re on your way to mining a lot of bitcoins and consequently join the big league of crypto rich? Then something told you to cross check the company before buying a mining plan. That’s actually a great idea.

There are thousands of mining sites on the internet. Unfortunately, most of them will not earn you a dime if you buy their mining plans. The reason is that they are mostly not involved in mining activities but use their sites as snares to take funds from people.

There are many others that are actually mining, but unable to make much profit because of the existing market conditions. One fact you have to understand at the moment is that ROI on mining activity is not radically different from what you would ordinarily get from most conventional investments debar when the price of Bitcoin soars.

The mining difficulty of Bitcoin at the moment is such that cloudmining activities are not as lucrative as people have made it seem. There was a time bitcoin could be mined with a desktop. This is no longer the situation as the difficulty increased.

In this review, let us look at Avelon and what the company is offering its investors to determine if you would be in profit by investing with this business.

What is Avelon?

Avelon claims to be a unique platform that helps people take advantage of the so-called lucrative cryptocurrency industry by helping them generate coins such as Bitcoin, Litecoin, Dogecoin, Bitcoin Cash, XRP and surprisingly dollar. When I came upon this, I understood that whoever is behind this platform doesn’t know what they are talking about since they classified USD a digital currency.

This is not uncommon since there are many entities setting up scam mining platforms even though they know next to nothing about cryptocurrencies.

The quality of the copywriting and the use of terms convinced me that this is another mining site that needs proper investigation.

Who is Behind the Site?

The site did not list the owner, but from the data available from Whois, what we found is that the domain was registered on June 21, 2020.

This is a recent site that has a country specific domain, .cc for the Cocos Islands which is an Australian domain. So we assume that the owner of the site may be operating from Australia.

No address was listed for the mining operation which is rather weird, since every mining operation makes effort to prove to investors that they are genuine. Some of proofs they provide are mining rigs and physical location of farms.

Impossible ROI

We are convinced that Avelon is not really involved in mining operation based on the supposed output of its mining operations. According to its FAQ page, the investors would earn between 60 and 120 percent profit every month. This is practically impossible for a cloudmining operation.

Considering that the breakeven value for Bitcoin is around $6000, the right time for any profitable bitcoin mining operation would have commenced was before the current bull market. Even at that, with the price of Bitcoin currently hovering around the high $9000, there is no way a cloudminer could boast of 60 percent profit.

For an operation like Avelon that launched in June, it could barely have broken even at this point talk less offering investors gains of 120 percent.

This brought us to the conclusion that this is an effort by fraudsters to steal cryptocurrencies in the guise that they’re into cloudmining.

As earlier mentioned, it is important that every investor conduct due diligence on any investment opportunity offered to them. This is especially so because fraudsters are aware that many investors do not crosscheck information made available on investment sites.

Investing in cryptocurrencies should not be too difficult only if the investor is well informed. According to the Securities and Exchange Commission advice:

“SEC and CFTC staff have recently observed investment scams where fraudsters tout digital asset or “cryptocurrency” advisory and trading businesses. In some cases, the fraudsters claim to invest customers’ funds in proprietary crypto trading systems or in “mining” farms. The fraudsters promise high guaranteed returns (for example, 20-50%) with little or no risk.

From the foregoing, 20 percent is a piece of cake compared to what Avelon is offering its investors. Experinced investors are not deceived with such offers. The SEC advisory continued:

After the investors make an investment, typically using a digital asset such as Bitcoin, the fraudsters in some cases stop communicating with the investors altogether. These fraudsters can quickly send your money overseas, with little chance of you being able to get it back.

This is exactly what is obtainable with Avelon and many similar cloudmining sites out there. This is why you should not send your funds to random sites because they claim you could make profit.

Conclusion

Avelon is an active and ongoing scam. The site may get popular in future since it is offering affiliate reward to its promoters. What is certain is that it would turn another exit scam after getting funds from people.

There are many good investment opportunities out there. Most are from regulated sites which have licenses from the appropriate financial regulatory agencies.

You should invest in a site where your funds are safe and also make gains. The top site that we recommend would help you grow all your assets through a social investment strategy.

If you have used Avelon, you may share your experience using the comment box below. You could also send us an email or use our contact form to inform us of any investment sites that you want us to investigate.

Robinhood Review – Don’t be Robbed by Fees, Invest for Free

High trading fees are highway robbery. But justice prevails in the form of Robinhood–not the guy who robbed from the rich to give to the poor, but a trading platform with a feather in its cap… it’s free!

  • Saving money
  • Trading options
  • Easy to use app

Review of: Robinhood | Reviewed by: Chris Muller | Last modified: November 26, 2020

Robinhood is a trading platform that is entirely free. If you are interested in trading stocks or other assets, then you likely know how expensive the fees can get.

Most trading applications charge trade fees that will add up to a lot of money at the end of the year. Robinhood is different, as it seeks to eliminate the negatives of trade fees by offering a truly free experience.

This all sounds amazing, but is Robinhood really a good trading app that you can trust? Look at this Robinhood review so you can learn everything that you need to know.

You can figure out if this platform is right for you or if it is something that you should ignore. It’s always smart to look into opportunities that can save you money, so dig in and get the necessary information to make an informed decision.

Robinhood Key Features

The features of this application are actually impressive. It does lack some of the advanced trading tools you will get with more prevalent trading apps, but it’s fully featured for something that’s free.

Robinhood Crypto

Robinhood recently announced they’ve received a license to sell cryptocurrency in the state of New York. There are now 39 total states where you can invest in crypto, and “you can invest in seven cryptocurrencies on Robinhood Crypto: Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, Ethereum Classic, Litecoin, and Dogecoin.”

Robinhood Gold

Robinhood Gold has been a premium option for a while, but they’ve recently improved it significantly. According to their blog,

“In addition to margin investing and bigger instant deposits, it now includes new premium features like in-depth research and data.”

The premium features you’ll get include:

  • Morningstar Research Reports
  • Nasdaq Level 2 Market Data

Gold costs $5 per month and you’ll get access to bigger instant deposits and a margin account. You can learn all about the new and improved Robinhood Gold here.

Robinhood Snacks

Robinhood also recently acquired a media company called MarketSnacks, which had a financial news podcast and newsletter. They’ve relaunched under the name Robinhood Snacks, which gives you “digestible and easy to understand financial news you’ll enjoy.”

Trade Multiple Investment Types

You can trade stocks, cryptocurrency, and more using this convenient trading platform. This can be done from your mobile phone.

Intuitive Mobile Platform

This is one of the best trading platforms for people on the go. The mobile interface is intuitive, and it feels comfortable to navigate. Having a smooth experience while trading makes things that much better. You won’t fumble around in menus while trying to figure things out. This app just clicks with people easily, and it makes your trading time more pleasant because of it.

Research Tools

You will also enjoy solid research tools when using this app. It makes getting information simple so you can go into a trade with confidence you are making a move right for you.

Robinhood Pricing & Fees

The most appealing thing about the Robinhood app is there are no associated fees. Most trading platforms make use of trade fees, but Robinhood has a different philosophy. It’s a free app that allows you to trade without having to worry about lining someone else’s pockets.

There are minor trading fees, though, which is required by the SEC. Here’s what Robinhood has to say about their fees:

Investing with Robinhood is commission free, now and forever. We don’t charge you fees to open your account, to maintain your account, or to transfer funds to your account.

However, the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) do charge a small fee for stock sell orders. They charge these fees for all sell orders, regardless of the brokerage. Robinhood doesn’t benefit financially from these charges, and we pass them along to the relevant regulatory agencies when we collect them.

  • SEC: $13.00 per $1,000,000 of principal. This fee is rounded up to the nearest penny.
  • FINRA Trading Activity Fee (TAF): $.000119 per share. This fee is rounded up to the nearest penny and no greater than $5.95.

Signing Up for Robinhood

Signing up for Robinhood will be simple. You just need to make sure you have at least $2,000 to open an account. From there, you can create an account using the typical information.

You’ll need to provide your social security number, personal information, contact information, and a method to fund your account.

After that, you can trade fast, and everything can be done from your mobile phone.

Robinhood Security

Go into the Robinhood trading app with full confidence. The safety of this app is outstanding. This app is monitored carefully by professionals, and there is a deep commitment to ensuring that the trading is done safely and securely.

“SEC-registered broker-dealer, and a member of both the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). This means stocks and options in your account are protected up to $500,000 (including $250,000 for claims for cash). For details, check out the SIPC website, and for more information on Robinhood Financial, you can find us on FINRA Broker Check.”

They also take your information protection seriously. Robinhood’s website states the following as examples of how they protect your information:

  • Your account password is hashed using the industry-standard BCrypt hashing algorithm, and it’s never stored in plaintext.
  • Sensitive details, such as your social security number, are encrypted before they’re stored.
  • Our mobile and web applications securely communicate with our servers using the Transport Layer Security (TLS) protocol with the most up-to-date configurations and ciphers.
  • We don’t store your online banking credentials, and we never will. Your banking credentials are used once to authenticate and verify that the specified account belongs to you.

Robinhood Mobile Support

Robinhood is tailor-made for mobile users, so the mobile support will always be top tier. You can enjoy a fully-featured application that makes trading as easy as it can be. Accessing your trades and account information from anywhere is a real convenience. It gives you the power to make trades and significant moves whenever you need to.

The flexibility of the Robinhood app deserves to be commended. This is very accessible and easy to navigate the application. It should work well for both trading veterans and those who are new to trading. If you have been looking for a new platform to help you facilitate your trades, then this one will be worth your while.

Robinhood Customer Service

Most of the Robinhood review submissions by customers will show you that the customer service and support of the Robinhood trading platform are only passable. This won’t be the most robust customer service you’ve ever seen.

You can rely on support staff if you need to, but you might not get the same level of attentiveness as you would with some of the larger platforms. Robinhood handles everything through email customer support, and this may not be ideal. This manages to cut out many fees and other associated costs of trading.

That being said, Robinhood has a deep help center that has tons of information about using their platform and trading in general. So if you’re good with self-support, it might be enough.

If customer service is imperative to you, then stick to one of the bigger trading platforms on the market. This will allow you to have a more traditional experience and that might be ideal in your situation. Consider the factors before you jump into anything.

Robinhood Pros & Cons

You’ll save a lot of money: The most obvious positives about the Robinhood trading platform are that you can eliminate many fees you’re used to paying. The reason for the naming convention is that it is all about helping people to trade while hanging onto as much of their money as possible. Whether or not this is taking from the rich and giving to the poor is up to you to decide. If you do your best to use this app to its full potential, then it may wind up saving you a lot of money.

Trading options: This app can provide you with 100% commission-free stock trading. You can also trade cryptocurrency, options, and ETF in the same fashion. Account fees are kept to a minimum on this platform, and this saves you more money eventually. Trading stocks and other things without being forced to pay lots of fees will be a real benefit to your bank account.

Low minimum balance requirement: Even the minimum portfolio balance will be easier to handle when using Robinhood. Most trading platforms require you to keep a large sum of money in an account, but Robinhood is different. All you will need is a portfolio of at least $2,000 to create an account. After this, you will never have to deal with any account minimum ever again.

Easy to use app: This app is easy to use with a very streamlined interface. Signing up will be a quick process, and it will only require necessary information such as your social security number, contact details, and a way to fund your account. Once you get things going, you’ll have a smooth experience using the mobile app to trade. This is one of the most convenient methods to trade when you want things to be easy and affordable.

Customer service: The cons come into play when you think about customer service. Overall, the customer service for Robinhood is okay. They do things through email and do not even publish a phone number for you to contact them. This makes things somewhat tough, but the app is well made and should not give you many problems, to begin with.

No mutual funds: Also, mutual funds and bonds are not supported by this trading platform. This will make people feel like their options are being limited. If you want to trade in bonds and mutual funds, then this will not be the trading platform for you. Turning to one of the larger and more well-known trading platforms will likely work out better.

Only one account: It should also be noted that you can have only one single individual tax account. This may not work out well for people who want to invest using a tax-advantaged account such as a 401(k). Keeping this in mind, you have to weigh the positives against the negatives. Depending on your needs, this platform will either be fantastic or something that will not work for you.

Robinhood Alternatives

There are two alternatives you will want to consider using. The most popular alternative will likely be E-Trade. E-Trade is a popular trading platform working for people for many years. They have a more robust customer support team and offer many more options. There will be more fees and other problems to deal with, but it will be a more traditional experience you can count on. You can expect the trade fees to be set at $6.95 per trade and there is a $500 account minimum.

You may also want to think about trying out Ally Invest. Many people actually prefer to use this trading platform as opposed to E-Trade. It offers you a $4.95 trade fee and does not have an account minimum. If this sounds good to you, then it might be the best option that lies somewhere between Robinhood and E-Trade.

Is Robinhood Right for You?

Determining whether Robinhood is right for you will be tricky. It actually comes down to what you expect and what you need out of a trading platform. If you value not paying fees and not having to worry about account minimums, then Robinhood is very appealing. It offers you a convenient way to trade from a mobile platform and using the interface always feels intuitive.

This is an excellent trading app that does have a few drawbacks. Not trading bonds or mutual funds might be a dealbreaker for some. You merely need to ask yourself what your needs are so you can move forward with confidence.

For some people, a more traditional trading experience will be ideal. If you want access to robust customer support options and a conventional trading structure, then you should go with one of the tried and true platforms. Those who want to try something new and like avoiding fees will wind up loving Robinhood.

Bottom Line

Robinhood is a fantastic trading platform convenient for mobile users. You can trade stocks, cryptocurrency, options, and ETFs easily. Avoiding fees and not having to worry about account minimums will be great. It is not as good for customer service as most other apps, but it is a secure platform you can trust.

If you have no plans to trade in mutual funds or bonds, then it is easy to recommend that you give Robinhood a shot. The potential for saving money is there when you use this app. It feels good to use and is likely to improve. Remember it if you are fed up with some of the bigger trading platforms and are looking to make a change.

Article comments

I agree with everything in your article about Robinhood. However, my biggest complaint (and the reason I closed my account) is that they will not automatically reinvest your dividends. Maybe that’s a small gripe for most people, but it’s an important thing for me. I eventually changed over all of my accounts to Firstrade and they do offer automatic dividend reinvestment. Robinhood does have the better mobile app (by far), but Firstrade has just relaunched their app for Apple products and is soon going to be relaunching for Android (which is me).

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Robinhood expands crypto offerings

Robinhood, a free trading platform for stocks and cryptocurrency, is expanding its crypto offerings beyond Bitcoin and Ethereum to include Litecoin and Bitcoin Cash.

Robinhood Crypto has been steadily adding states where the service is available. Currently investors can buy and sell the four coins in 17 states, including California, New Jersey, Florida and Massachusetts, with more states becoming available in the future.

Robinhood began offering users the ability to trade Bitcoin and Ethereum — the top two cryptocurrencies by market capitalization — in February. Since then, investors have expressed interest in trading other cryptocurrencies, according to the company announcement.

Litecoin, the world’s sixth-largest cryptocurrency, rose in value earlier this week on news that the Litecoin Foundation was partnering with payments platform TokenPay. Under the deal, the foundation received a 9.9% stake in WEG Bank in Germany. In return, Litecoin will aid in the development of TokenPay’s cryptocurrency and business operations.

Last year Bitcoin Cash, currently the fourth-largest cryptocurrency by market capitalization, split from Bitcoin in a bid to return to an original vision of being a peer-to-peer electronic cash system. The result of a fork in the Bitcoin​ blockchain ledger, Bitcoin Cash prioritizes the ability to scale up and process transactions fast enough to be used for payments.

Robinhood’s expansion into crypto, aimed at making trading cryptocurrencies easier and more accessible to investors, helped the company increase its reach to five million users across the platform. But all investors should be aware that investing in cryptocurrency is speculative and the market is generally unregulated.

Robinhood Crypto continues to offer users cryptocurrency market data and the opportunity to create price alerts for a total of 16 coins, including Ripple, Ethereum Classic, Bitcoin Gold, Lisk, and Dogecoin.

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