Any thoughts of Stormgain cloud mining?

[Beerwizzard]

I've been looking for a service that would help me to mine thru my browser. I want to use it on my work computer so it is important to have like a simple on/off button for a fast setup.

I have managed to find a platform stormgain.com that have such feature bur I didn't manage to find any serious feedback on that. Also, I have no Idea if stormgain is actually mining something via my laptop and it is not just a fake faucet created to attract users to scam exchange service.

Anyone got any thoughts on them? Or maybe someone knows a better service?

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[OmegaStarScream]

Cloud mining is not the same thing as mining using your browser but they're both a waste of time, I wouldn't waste my time doing that if I were you.

As for the platform you mentioned, I never tried it myself, but it looks legit[1][2]. I just find it strange that I've never seen anyone discussing it on the forums before.

[1] https://www.nufc.co.uk/news/latest-news/stormgain-named-official-sleeve-partner/
[2] https://www.trustpilot.com/review/stormgain.com

[PX-Z]

Yes, because most of them or even all of them is not worth the time, less earning, or not paying worst is mining your data, your browsing activity, in short your personal information.

[Rikafip]

Also, I have no Idea if stormgain is actually mining something via my laptop and it is not just a fake faucet created to attract users to scam exchange service.

I would say the latter, considering their claims about mining up to 0.0318 BTC in a day using their cloud mining service. From what I understood, this is how it works: you get some free cloud mining package in order to hook you up, and then to speed it up you have to trade on their platform. The more trading volume you have, the more mining speed you get. Maybe they are legit exchange, but their story about cloud mining seems like a total bs and that alone is a reason enough to stay away from them.

Or maybe someone knows a better service?

Avoid cloud mining services and instead just buy BTC. And if some cloud mining platform offers you a free BTC that means that you are a product.

As for the platform you mentioned, I never tried it myself, but it looks legit[1][2]. I just find it strange that I've never seen anyone discussing it on the forums before.

I never heard about it either, but one the users opened scam accusation thread regarding Stormgain https://bitcointalk.org/index.php?topic=5368270.msg58302020#msg58302020. That of course doesn't automatically mean that its a scam as you can find similar threads about any exchange, but at least shows that some people here had issues with it.

[Beerwizzard]

Cloud mining is not the same thing as mining using your browser but they're both a waste of time, I wouldn't waste my time doing that if I were you.

As for the platform you mentioned, I never tried it myself, but it looks legit[1][2]. I just find it strange that I've never seen anyone discussing it on the forums before.

[1] https://www.nufc.co.uk/news/latest-news/stormgain-named-official-sleeve-partner/
[2] https://www.trustpilot.com/review/stormgain.com

I obviously know what is cloud mining. But Stormgain claim that they use the power of your computer along with their cloud powers. However, unlike normal cloud mining services they do not offer any kind of cloud mining subscriptions which means that their cloud mining works only to maintain a free browser mining button. I still didn't see anything that can justify such business model.

I would say the latter, considering their claims about mining up to 0.0318 BTC in a day using their cloud mining service. From what I understood, this is how it works: you get some free cloud mining package in order to hook you up, and then to speed it up you have to trade on their platform. The more trading volume you have, the more mining speed you get. Maybe they are legit exchange, but their story about cloud mining seems like a total bs and that alone is a reason enough to stay away from them.

I didn't see any kind of subscription. Your loyalty level grows based on your current balance. Seems like it was initially built as an exchange platform.
This is what actually creates a feeling that this is more an exchange with a faucet rather than mining service.

Also, I have no Idea if stormgain is actually mining something via my laptop and it is not just a fake faucet created to attract users to scam exchange service.

I would say the latter, considering their claims about mining up to 0.0318 BTC in a day using their cloud mining service. From what I understood, this is how it works: you get some free cloud mining package in order to hook you up, and then to speed it up you have to trade on their platform. The more trading volume you have, the more mining speed you get. Maybe they are legit exchange, but their story about cloud mining seems like a total bs and that alone is a reason enough to stay away from them.

Or maybe someone knows a better service?

Avoid cloud mining services and instead just buy BTC. And if some cloud mining platform offers you a free BTC that means that you are a product.

I was looking for anything to mine on my own pc, this service just popped up. I have no idea what part of their business is actually on the cloud.

[The Cryptovator]

I don't believe such a cloud mining service work on your browser. If it was possible earning a handsome amount then everyone would do it. I don't think it would be worth your electricity bill even if that is legit. So I just ignore such as site even not waste visit the site. Better you find some other alternatives to earn online. Especially sell your skill that you know better. Or learn something from where you could earn cryptocurrency.

[RickDeckard]

I didn't see any kind of subscription. Your loyalty level grows based on your current balance. Seems like it was initially built as an exchange platform.
This is what actually creates a feeling that this is more an exchange with a faucet rather than mining service.

Couldn't agree more with you - this is purely a faucet disguised as "cloud mining" only to attract new and unaware clients. In fact, this is worse than a faucet because you're not able to "control" the coins you receive - according to their FAQ[1]:

How long will it take to mine 1 Bitcoin?
It takes exactly 4 hours to get a single mining reward. After you've mined the equivalent of at least 10 USDT in Bitcoin, click the Withdraw button. We'll credit the profit as a trading bonus to your account in 72 hours.

Did you noticed that they also didn't answered their question? They basically reply that the user will earn "a single mining reward" and never fully answer the question made by themselves...  I also don't know how to quantify this "single mining reward" - is it 1 USDT in Bitcoin? 2 USDT?

What are trading bonuses?
A trading bonus is a virtual currency that exists exclusively on StormGain. It can be used to increase your available funds and improve your trading profits. That's why the higher your trading volume is, the faster you can mine.

So you basically earn virtual currency - USDT - which you'll be only able to use in their platform in the hopes of making you spending more money in order to earn more... You can see that this is their goal when the "cloud mining" speed is related to a loyalty program:

Your loyalty programme status is related to your trading volume and determines the mining speed available to you. The higher your loyalty status level and trading volume are, the faster you can mine. Learn more about our loyalty programme here

I don't believe such a cloud mining service work on your browser. If it was possible earning a handsome amount then everyone would do it. I don't think it would be worth your electricity bill even if that is legit. So I just ignore such as site even not waste visit the site. Better you find some other alternatives to earn online. Especially sell your skill that you know better. Or learn something from where you could earn cryptocurrency.

Their device/browser doesn't do anything at all according to their FAQ[1], this is purely just a way to market a service that is disguised as cloud mining. Their "mining speed" is tied to their ranking - Standard, Gold, Platinum ... - which in turn is related to their monthly trading volume meaning that they are encouraged to keep their limit within the level's requirement else they'll downgrade to the level below or adequate to their monthly trading volume...
[1]https://stormgain.com/bonuses/bitcoin-mining

[Rikafip]

Couldn't agree more with you - this is purely a faucet disguised as "cloud mining" only to attract new and unaware clients. In fact, this is worse than a faucet because you're not able to "control" the coins you receive - according to their FAQ[1]:

Yep, that's why I said I don't like it one bit as I don't like when platforms are using mumbo-jumbo stuff to hide what is it really about. There is no mining of any sort there, they just award their users with free Bitcoin and that's about it but that mining story sounds better to uneducated users.

Did you noticed that they also didn't answered their question? They basically reply that the user will earn "a single mining reward" and never fully answer the question made by themselves...  Roll Eyes I also don't know how to quantify this "single mining reward" - is it 1 USDT in Bitcoin? 2 USDT?

Based on the numbers provided on the website, it will take you a litlte bit more than 3 months of having VIP3 status (which means millions of trading volume) to "mine" 1 Bitcoin.

Another weird thing on their website is that they have separate sections for faucet and cloud mining thing while they are essentially the same things. I wouldn't touch this with a ten foot pole., no matter who are they sponsoring or how many positive reviews they have.

[BitMaxz]

It seems that the website is already being discussed here on the forum the domain was created in 2019.

Code:

Domain:stormgain.com
Registrar:Network Solutions, LLC
Registered On:2019-04-05
Expires On:2025-04-05
Updated On:2021-02-17

I'm surprised that they can manage to get a huge audience according to Similarweb they have already reached almost 7.7m visitors but most of their traffic is from Russia.

Another weird thing on their website is that they have separate sections for faucet and cloud mining thing while they are essentially the same things. I wouldn't touch this with a ten foot pole., no matter who are they sponsoring or how many positive reviews they have.

That is how they promote their business because they know if they directly promote the website as cloud mining they will only get less traffic compared on giving free coins from their faucet.

I never heard any cloud mining site that actually gives you profit and 99% of them are scam.

[robelneo]

I don't believe such a cloud mining service work on your browser. If it was possible earning a handsome amount then everyone would do it. I don't think it would be worth your electricity bill even if that is legit. So I just ignore such as site even not waste visit the site. Better you find some other alternatives to earn online. Especially sell your skill that you know better. Or learn something from where you could earn cryptocurrency.

I used to mine Banano in my browser but eventually stopped doing this as earning is not good I'm not even earning $1 a day back then, cloud or browser is a thing of the past, browser and cloud mining is not worth it anymore, that Stormgain cloud mining is one of the exchange features to attract people to trade on their exchange, but if you dig deep and you know how cloud mining evolved over the years and how it becomes obsolete, you will ignore this, only newbies fall to this, glad OP asked this now he has his answers.

[Rikafip]

I'm surprised that they can manage to get a huge audience according to Similarweb they have already reached almost 7.7m visitors but most of their traffic is from Russia.

That's indeed big number of visitors, especially if you compare it with their daily trading volume which is around ~$30 million according to Coingecko. Exchanges of similar daily volume have 100-200k monthly visitors, tops. So I guess that majority of those visitors are just people that use that exchange as a faucet. That also explains why almost no one here  heard about it before.

That is how they promote their business because they know if they directly promote the website as cloud mining they will only get less traffic compared on giving free coins from their faucet.

That's the weird part, why do they use cloud mining terminology on their website at all, given the reputation cloud mining services have.

Their device/browser doesn't do anything at all according to their FAQ[1], this is purely just a way to market a service that is disguised as cloud mining. Their "mining speed" is tied to their ranking - Standard, Gold, Platinum ... - which in turn is related to their monthly trading volume meaning that they are encouraged to keep their limit within the level's requirement else they'll downgrade to the level below or adequate to their monthly trading volume...

This reminds me of that infamous Pi Network and all that mobile phone "mining" lol.

[RickDeckard]

That is how they promote their business because they know if they directly promote the website as cloud mining they will only get less traffic compared on giving free coins from their faucet.

That's the weird part, why do they use cloud mining terminology on their website at all, given the reputation cloud mining services have.

Because the average John Doe that hears around BTC mining while on the barbershop doesn't even know what it actually means, he's just interested in riding the wave (FOMO plays a huge role in it). Stormgain knows this and they are just taking profit from other people ignorance/greediness on the matter. I imagine that most people that do take part in this scheme end up saying to their friends "Yeah, I also mine with my browser/cellphone" and if their friends are just like them regarding crypto literacy they will probably follow whatever path his friend tells him to. Just like a snowball rolling down in a cliff.

This reminds me of that infamous Pi Network and all that mobile phone "mining" lol.

I think that's even worse considering the fact that at least on Stormgain you have to be online to "mine". On the Pi Network you can literally be offline and you're still earning the "coin"[1] as they call it. It seems, however, that some users[2] are already asking question if weather or not they're really mining ... Perhaps clairvoyance will come soon.
[1]https://www.quora.com/Can-you-mine-Pi-coins-if-your-internet-is-turned-off
[2]https://old.reddit.com/r/PiNetwork/comments/m3zjwj/is_pi_really_mining/

[ABCbits]

Anyone got any thoughts on them?

Sound shady or confusing. Looking at mining page[1], it's as if they perform mining and share small profit depending on your trading volume. I would say it's not worth since you need to trade about 150.000 USDT to get about 0.88 USDT daily which is very small compared with their fee[2].

Or maybe someone knows a better service?

Buy and configure your own mining hardware.

[1]  https://stormgain.com/bonuses/bitcoin-mining
[2] https://stormgain.com/fees-and-limits

[hugeblack]

Anyone got any thoughts on them? Or maybe someone knows a better service?

Perhaps the best question is, is it profitable? Let's say it's legal, but the revenue is less than 1 dollar a day in exchange for allowing an unknown program to exploit your computer's physical capabilities, and your IP addresses to mine or do an unknown activity? I don't know, but I don't think it's worth the risk.
If you have capital, learn to trade and then trade, it is better than such investment.

[uneng]

There isn't any cloud mining on this, it seems. It's more like a marketing strategy from Stormgain wallet and exchange to bring users to the platform.

Free users can hit a button every 4 hours in order to claim daily a reward up to 960 satoshis of bitcoin (around 42 cents of dollar). Monthly, it's possible to claim 12$ dollars in btc considering currently rates, accordingly to the platform.

Minimum withdrawal is 10$, but pay attention! Not possible to cashout to an external wallet! Instead, you have to use these funds inside the platform to trade, and once you make profit from your trading activity you can finally withdraw the money from Stormgain.

To increase rewards from the "cloud mining" claimable every 4 hours (seems more like a faucet), you have to raise your trading monthly volume. Just to have an idea, to raise daily rewards from 42 cents to 84 cents, you must have a monthly trading volume of 150,000$!

Lvl 1 (free users): 0,42$;
Lvl 2 (150,000$): 0,84$;
Lvl 3 (750,000$): 2,52$;
Lvl 4 (2,500,000$): 10,10$;
Lvl 5 (7,500,000$): 32,00$;
Lvl 6 (15,000,000$): 72,40$;
Lvl 7 (75,000,000$): 446,38$.

Rewards' values in usdt fluctuate in real time.

After all I conclude it's a "greek gift".

[Rikafip]

Perhaps the best question is, is it profitable? Let's say it's legal, but the revenue is less than 1 dollar a day in exchange for allowing an unknown program to exploit your computer's physical capabilities, and your IP addresses to mine or do an unknown activity?

There's no mining involved whatsoever, that's just the story they are selling.

On top of being faucet of sorts, they also give up to 20% deposit bonus (again can only be used for trading) and give ~10% ROI (even higher than some knonwn platforms like Celsius) on staked crypto so it really makes you wonder from where they get all that free money. Then I saw their trading fee strategy in which you don't pay any fee if your trade ends up in loss, but if you end up in profit, they take 10%. That then raises the question why would any successful trader use this exchange if they take 10% of his profit? Dunno, but all this doesn't make much sense to me.

[coolcoinz]

There isn't any cloud mining on this, it seems. It's more like a marketing strategy from Stormgain wallet and exchange to bring users to the platform.

Free users can hit a button every 4 hours in order to claim daily a reward up to 960 satoshis of bitcoin (around 42 cents of dollar). Monthly, it's possible to claim 12$ dollars in btc considering currently rates, accordingly to the platform.

Minimum withdrawal is 10$, but pay attention! Not possible to cashout to an external wallet! Instead, you have to use these funds inside the platform to trade, and once you make profit from your trading activity you can finally withdraw the money from Stormgain.

To increase rewards from the "cloud mining" claimable every 4 hours (seems more like a faucet), you have to raise your trading monthly volume. Just to have an idea, to raise daily rewards from 42 cents to 84 cents, you must have a monthly trading volume of 150,000$!

Lvl 1 (free users): 0,42$;
Lvl 2 (150,000$): 0,84$;
Lvl 3 (750,000$): 2,52$;
Lvl 4 (2,500,000$): 10,10$;
Lvl 5 (7,500,000$): 32,00$;
Lvl 6 (15,000,000$): 72,40$;
Lvl 7 (75,000,000$): 446,38$.

Rewards' values in usdt fluctuate in real time.

After all I conclude it's a "greek gift".

They were even nice enough to include options for people who would be willing to trade 75 million USD a month Like that kind of people would even touch a service like that. When you have 50 mill or something like that, you don't try to multiply it using ponzi schemes, just buy safe stocks or bonds and satisfy all your needs with 5% a year.

All cloud mining companies want to take advantage of you. Even if they are legit they will make you take all the risk, like that legit company in Iceland was doing. They had their TOS written in a way that allowed them to stop paying you and liquidate your contract when it became unprofitable, so if you paid x USD for a 2 year contract and 1 year later difficulty suddenly rose so much that you weren't making money, they were cancelling the contract and did not have to bother with you for another year, while keeping the money.

[uneng]

All cloud mining companies want to take advantage of you. Even if they are legit they will make you take all the risk, like that legit company in Iceland was doing. They had their TOS written in a way that allowed them to stop paying you and liquidate your contract when it became unprofitable, so if you paid x USD for a 2 year contract and 1 year later difficulty suddenly rose so much that you weren't making money, they were cancelling the contract and did not have to bother with you for another year, while keeping the money.

Oh, so true. It's a long time since I heared about cloud mining for the last time, but I remember the negative experiences you mentioned above from many investors. People thought they would have lifetime passive income by investing on cloud mining, but they were never able to recover the initial invested amount in hash through mining income. Day after day, week after week and month after month interest kept decreasing until reaching to zero.

Being lucky, I think they could recover 70% of the investment, although some claimed it to be profitable anyway (in dollar rates), due to btc pumps meanwhile.

Most popular one was Genesis Mining. It seems the platform is still alive, but people don't talk about it anymore. I suppose it's a really unpopular service right now.