Are Bitcoin Mining Clubs Legit?

There are various ways through which one can make money through Bitcoin namely; mining, trading, staking or even accepting payment in the form of Bitcoin.

Since mining Bitcoin is getting harder and expensive by the day, mining companies have come up to help people make some money. To earn an income, one needs to purchase shares in these companies. One such company is Bitclub Advantage.

Is anyone here in a mining club? Is Bitclub legit?

Hi @Cryptoqueen,

I haven't heard about this mining club [or pool...?] before, but since this is the internet and certain information can be gleaned at the push of a few keystrokes, I went ahead and did some digging.

Be careful: it doesn't look like you're in good company. Bitclub Advantage from all indications is a hot scam. Look what these folks had to say about them:

These reports are by no means conclusive and you might need further probing to lead you to an answer, but from a cursory glance: run and run very far. Bitclub Advantage's main business is selling hocus-pocus trading signals that are yet to make anyone a millionaire.

It is still possible to make acquire Bitcoin via mining. When a solo miner in a pool contributes computational power towards the discovery of a block, they're rewarded according to the proportion of their contribution. It would take most computers and hardware years to independently generate a block because they come in groups of 25 Bitcoins, so it makes more sense to belong to a pool and earn some rewards that would have been out of your horizons had you operated as a solo miner.

In essence, it is possible to make money/acquire bitcoins as part of a mining pool, but I will be remiss if Bitclub Advantaged have ever mined a single block since their inception.

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