HouseHash supposedly is a cryptocurrency cloud mining solution made by professionals. It allegedly is about renting mining power together with a special software.
This combination is supposed to earn you about 1.7% per day on your investment, or 54% monthly, or 637% yearly.
These numbers are big, so are they real?
Cryptocurrencies are still pretty new, so not a lot of people can properly asses related offers. But trust us, 54% monthly in cryptocurrency mining is impossible. If it was, you would read about it everywhere, it would be on TV and everybody would be on it.
The reality is that mining can be profitable, but it depends on a lot of things, mainly on your hardware and on electricity costs. This is why China dominates bitcoin mining, they have cheap electricity and they build mining farms near power plants. But even the Chinese won’t be able to do more than a few percent per month without sharing with anyone.
Think of this, if HouseHash is offering 54% monthly and another 5% in the affiliate program, it is about 60% for you. And they wouldn’t do that for free, would they? So they would have to be making at least 100% per month for the entire operation to make sense.
But why would they share profits with you instead of getting a loan to buy hardware and keeping all the profits? That would be the more profitable option.
As you can see, HouseHash does not make any sense from the practical and logical point of view. It’s because it’s a scam.
How it really works
HouseHash is a Ponzi scheme, which means that it doesn’t do any crypto mining, it just collects money from the public. Using money from the deposits they might pay some profits at the beginning to attract more investors, but then it will quickly fail.
Some of these schemes never pay anything, some of them last a few days, some a few months, but they all end by collapsing and all the money disappears.
HouseHash is a scam, it is not about crypto mining, it’s a pyramidal financial game made to collapse. Stay away from it!
If you are interested in cryptocurrencies, you can try a free demo account to see how money can be made in trading.
But remember that trading is risky, so you first have to learn and test on the demo until you build a profitable strategy.