The BtcOnline proposition is simple, it is supposed to be a bitcoin mining service. You pay for mining power and get rewards for mining profits.
There are five mining plans with returns up to 8.8% per day, which means 264% per month? But how long the contracts last? They don’t even provide information that a real mining service would provide.
The reality is that bitcoin mining is not profitable nowadays. It is because the mining costs exceed the profits, mining difficulty is high and bitcoin price low. This is what makes real mining services like HashFlare suspend their services.
So, anybody offering you hundreds of percent per month from bitcoin mining is a scammer, there is no other way.
It might seem too simple, but that’s how it really is. At this time, you cannot make any decent money in bitcoin cloud mining.
How it really works
Based on the numbers it is clear that BtcOnline is a Ponzi scheme. They use new deposits to pay withdrawals, but such a system always collapses in the end because it runs out of money. Always.
There is no real mining going on, just a financial game with cryptocurrencies. Remember that crypto transactions are anonymous to a degree and irreversible. This means that nobody will be able to help you to get your money back.
BtcOnline is a clear scam, the promised profits cannot be made in bitcoin mining. Stay away from it.
If you want to make money with bitcoin, you can try trading it. You can see on a free demo how it works.
But financial trading is always risky, so be sure to prepare a good strategy and be careful if you decide to trade with real money.