According to its presentation, DreamHash is a company that mines cryptocurrencies. You are supposed to invest money in DreamHash Cloud Mining and as a reward you will get up to 12% daily on your investment.
The minimum investment is 0.001 BTC, which is now about $5. The maximum deposit is 100 BTC, which is now about $530,000.
So, is it worth investing your money with DreamHash?
Unfortunately DreamHash is not a mining company, it is a Ponzi scheme. A Ponzi scheme is a scam that pays returns out of new deposits until the system collapses because of the lack of new deposits.
Speaking of cryptocurrency mining, for example Bitcoin mining is hardly profitable nowadays. Unless you are based in China near a powerplant, this is how the biggest miners work. It is possible to make money in mining other cryptocurrencies, however it will be hardly percents per month.
The biggest issue here is the costs of electricity. Crypto mining is done by powerful computers that need a lot of electric power to calculate complicated algorithms, which is what mining is about.
DreamHash Cloud Mining Technologies
It is true that DreamHash is a registered company in the UK. But what does it prove? Absolutely nothing. DreamHash was registered in May 2017, so no accounts so far, no history, nothing. Anybody can register a company, you just have to do some basic paperwork.
The thing is that DreamHash is clearly providing investment services, it is collecting money from the public, and that is a regulated activity. So DreamHash needs to be registered with the Financial Conduct Authority, which is not, therefore it is operating illegaly.
And you should also realize that deposits with DreamHash are made in bitcoins, which means anonymous and irreversible transactions. So nobody will be able to help you to get your money back, since there is no regulation involved.
How it really works
We know that it is not something you want to hear or read, but it is the truth: 360% per month is impossible with any legal cryptocurrency mining or investing. Believe us, we are traders for almost 12 years and we know what is possible and what is not.
DreamHash is a Ponzi scheme, it is a fact. Remember Bernard Madoff, Ponzi schemes can even look legit, but they all collapse one day. At the beginning they pay their clients, but as we already mentioned, when there is not enough new deposits, it will collapse and the money will disappear.
DreamHash is just another scam that abuses cryptocurrencies. 12% daily is totally impossible in any legal crypto mining or trading activity. This is a fact.
If you are interested in trading cryptocurrencies, try a free demo account with a regulated broker to see what returns are really possible.
You first have to learn and build a profitable strategy, only then you can start trading with real money.