Moon Bitcoins Review 2024 (Legit Or Scam)

Moon Bitcoins Review 2024 (Legit Or Scam)

Moon Bitcoins is a free-to-use website that promises it will mine Bitcoin for you. Is it too good to be true? Upon first glance, we can already see there are some major red flags with this website.

Content

First, let’s look at whether it is a legitimate way to make money, and then we’ll examine the finer details of what they are offering – and if they are delivering. It should also be noted there are currently two Moon Bitcoin sites in operation:

  • Moonbitcoins.com
  • Moonbitcoin.cloud

The first one shows up in online searches first, indicating it is the more popular platform. I’ll discuss that one first, and then discuss the second one at the end. Both sites are highly suspect and extreme caution is warranted.

Should You Sign Up With MoonBitcoins.com?

The short answer: No, don’t waste your time. Here’s why.

Bitcoin is one of the most popular crypto coins

Yes, it is free to sign up, but you aren’t actually mining Bitcoins. You make money, supposedly, by completing tasks such as filling out surveys and referring other users.

Bitcoin mining costs money. It requires computer processing power and electricity. Miners that are already set up are barely able to produce a profit when the costs of equipment and electricity are factored in. So a website offering you free Bitcoins means if you do get anything, it will likely be either miniscule or nothing at all. Here are some other things to consider.

  • The website has not been updated since 2021.
  • The site’s Contact Us form does not elicit a response. Social media links redirect back to the website’s homepage, as do many other links on the site.
  • There is a 0.05 BTC minimum payout for the free account (the only account available). Several of the many 1-star reviews on TrustPilot state that it takes years to get to that level. And even then, there are issues with withdrawals, including being asked to pay fees before the withdrawal is approved.
  • According to the stats on the webpage, at the time of writing Moon Bitcoin boasts a total customer base of 454,758, and there have been 244.9365 BTC mined. That means the average customer has mined 0.0005635 Bitcoin…or about $13 worth of crypto based on a Bitcoin price of $25,000. Recall that the minimum withdrawal is 0.05 Bitcoin, so nearly all users never hit the minimum payment threshold.
  • The website says it is using GPU bitcoin mining. This method is no longer profitable for mining Bitcoin based on a number of sources, including this one.

Your time and effort mines Bitcoins for the site, while your efforts go unrewarded. To make matters worse, some users have said that they were asked to pay fees before receiving their payout. This makes no sense. If you have made a profit, they could simply deduct any fees from the amount they send you. This screams “SCAM”.

An additional thing to note is that there are, or were, several “Moon Bitcoin” websites. Moonbitcoin.com is up for sale/no longer in operation.

Moon Bitcoin Live (moonbitcoin.live) is also discussed online — a company claiming it can double your Bitcoins in a short amount of time — but there is no trace of it anymore. Because some of these “Moon” sites became popular, but then disappeared, there will likely continue to be copycats that try to replicate similar scams.

Further reading

How You Supposedly Earn Bitcoins with Moon Bitcoins

This is where it gets murky. The site provides information that contradicts itself.

how-you-supposedly-earn-bitcoins

Moonbitcoins.com states that mining does incur costs, as it requires electricity and resources. It goes on to say that it will therefore not reveal information on how it conducts its mining. It then contradicts itself and says there are no costs, it is cumbersome, and takes time to mine any meaningful amount of Bitcoin. From the site:

site provides information

Users report that there are a few ways to supposedly generate “free” returns through various “bonuses” the site offers.

  1. Loyalty bonus: mine on consecutive days, and earn a 1% bonus on Bitcoin rewards. Note that actual mining doesn’t offer bonuses, so this is another red flag.
  2. Offer bonus: fill out surveys or watch ads to get a 5% bonus on Bitcoin rewards. Once again, actual mining doesn’t offer rewards. This is a gimmick to keep you on the website so that the company earns profits from ad revenue.
  3. Referral bonus: refer people and get a 1% bonus for each person referred, up to 100%. This keeps the ad revenue coming in for the website (see number two), but does very little for creating actual mining profits for you, the user.
  4. Mystery bonus: random offers for additional Bitcoin. Again, this is another ploy to keep you on the website, which in turn may create ad revenue for the website, not for you.
  5. Mining bonus: use your own computer processing power to mine Bitcoin. This one is an actual scam, because you are using your own electricity to mine Bitcoins for the site – which you will likely never receive because it is nearly impossible to achieve the minimum payout requirement.

Note that these methods are not listed publicly on the Moonbitcoins.com site, and may be associated with other “Moon Bitcoin” sites, which were also scams and are no longer in operation.

As you can see, most of these methods for supposedly making Bitcoins with Moon Bitcoins don’t actually involve mining. Rather, you are using your time to generate ad revenue for the website. If you offer your CPU for mining, you are mining for Moon Bitcoins and you are not likely to ever see any profit yourself.

Further reading

How to Register for MoonBitcoins

This site offers around five ways to make money. Some are simple, and others are questionable.

Registering for Moon Bitcoins is simple. All you need is a computer, a cryptocurrency wallet, and an email address. Input your wallet address into the Log In box to get started. I found the webpage glitched regularly, often looping me back to the homepage when trying to sign up to test it out.

Further reading

Is Moon Bitcoins Legit or a Scam?

By now you can see that Moon Bitcoins is a scam, or at least not a viable way to earn Bitcoins or other cryptocurrencies.

If you want to earn Bitcoins from mining, it is recommended that you research mining and do it yourself. That way, you control your costs, time, and receive all the profits the mining creates. You are not reliant on someone else paying you Bitcoins you are owed.

Moon Bitcoin - Scam

Moon Bitcoins Pros and Cons

Here is a summary of the pros and cons of Moon Bitcoins.

Pros Cons
Free to try, in that it doesn’t cost you money up front to test it out. Unlikely to hit the minimum payment threshold.
May not get paid even if you do hit the minimum payment threshold.
May need to pay fees before your payment is released.
Spending time or money (on electricity) clicking on ads or mining Bitcoin for Moon Bitcoins, with little chance for receiving any of those Bitcoins.
Site not updated since 2021, and no social media or email response.
Further reading

What about MoonBitcoin.Cloud, is it Legit?

This is another “Moon Bitcoin” site promising free Bitcoins. Is it worth trying? No.

Moonbitcoin.cloud operates differently than Moonbitcoins.com, but your likelihood of making any Bitcoins is still effectively zero. On this site, you are paying for mining privileges. The company lets you mine using their infrastructure, and in return you pay a fixed fee.

As discussed above, mining is no longer as lucrative as it once was. Few miners are able to make a profit even when they own the equipment they are using. This applies to GPU or ASIC mining. Having to pay a fixed fee means you will likely lose money.

A staggering 30 out of 34 reviews on TrustPilot are 1-star reviews, with users claiming the site is a scam and that they weren’t able to make withdrawals. The site is also driven by affiliate marketing, which means the more people you bring to the site, the bigger your bonus.

While affiliate marketing can certainly contribute to a business model, for this website, they push it hard. They put more focus on you bringing in more users than on actual mining.

There are also inconsistencies on the site. It says the minimum withdrawal is 0.005 Bitcoins, yet on the payment page, most transactions are less than that. It is difficult to tell if these payments are associated with the site at all.

In another odd twist, the Terms and Conditions on Moonbitcoins.com and moonbitcoin.cloud are identical except for the name of the website. The legal information (on both websites) does not discuss anything about the relationship between the company and you, the user, including how or if you will get paid. This is another Moon Bitcoin site to avoid.

Further reading

FAQs

What is Bitcoin mining?

Crypto mining is the process of verifying and adding transactions to a blockchain by solving complex mathematical problems using specialized hardware and software. Miners are rewarded with newly minted cryptocurrency for their efforts.

What hardware is required for crypto mining?

Crypto mining requires specialized hardware, such as ASICs or GPUs, to solve complex mathematical problems efficiently. The specific hardware required depends on the cryptocurrency being mined and the algorithm it uses.

How much profit can one make from crypto mining?

Profitability of crypto mining varies depending on several factors, including the price of the cryptocurrency being mined, the cost of electricity, and the efficiency of the mining hardware. It’s important to consider all these factors before deciding to invest in mining equipment.

What is a mining pool?

A mining pool is a group of miners who combine their computational resources to increase their chances of successfully mining cryptocurrency. Pools allow individual miners to earn a more consistent income, even if their individual mining power is relatively low.

Is crypto mining legal?

The legality of crypto mining varies depending on the country and region. While mining is legal in most countries, some governments have banned or restricted it due to concerns over energy consumption, environmental impact, or other issues.

What is a block reward halving?

A block reward halving is an event that occurs approximately every four years for most cryptocurrencies, where the reward for mining a new block is cut in half. This is done to limit the total supply of the cryptocurrency and ensure its scarcity over time. The most recent halving event occurred in May 2020 for Bitcoin.

Final Thoughts on Moon Bitcoin

If you are being offered free Bitcoins, be careful. It may be you that ends up paying them, either in fees or by wasting your time. Some of these sites operate based on keeping you on the site, clicking on ads – which makes them money, but not you.

Other sites may actually offer mining services, but mining is rarely profitable even if you get to keep everything you make. When you have to pay fees, you’ll likely be losing money, and the company makes a profit at your expense.

Looking at storing cryptocurrencies with a legitimate broker or wallet? Check out CoinPayments, TradeStation, or Binance.

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