IQMining.com Review

General information about IQMining

IQ mining is the cloud mining service that was founded in 2016 by a team of presumably Russian developers, though there is no clear information about the team on the website. There is only one video clip that features an engineer whose name is George Virsky.

He makes a video presentation in Russian that is why we have presumed that IQ mining is a Russian company or at least founded by Russian crypto enthusiasts. The video presentation itself is not really impressive, as it displays only a part of the farm and only a single member of the team, George himself.

Thanks for watching!

The website states that IQ Mining cooperates with data centers which are located in Canada, Russia, Iceland, Georgia, Algeria, and China. The central office of the company is registered in the Seychelles, which was obviously done for tax avoidance purposes.

IQMining.com Review

The About Us section of the website states that the members of its team come from different scientific fields, but it doesn’t disclose their personal profiles. Remaining services are provided by IQ Mining corp., a company which did not feature in any other known projects.

All in all, there are no definite proofs that IQ Mining possesses the equipment and it is very unclear who stands behind the company.

Company address:

London Wolt LP, Suite 1 44 Main Street, Douglas, Lanarkshire, Scotland, ML11 0QW.
+44 1224 459763

Coins and Algorithms:

For SHA256: Bitcoin
For Scrypt: Litecoin
For Ethash: Ethereum
For Equihash: Zcash
For X11: Dash

Services Provided

The company website claims that every purchaser of their mining contract will receive 50% return on his or her investment. It is a rather bold statement, considering that the price of cryptocurrencies is constantly fluctuating, and the difficulty of mining is increasing.

The website also has a calculator, which shows that an average-sized investment of approximately $1,000 will bring around 16% of profits per day. Frankly speaking, such big returns are rather unrealistic. The majority of cloud mining services which have proven their trustworthiness, offer no more than 2 to 5% of daily return on investment.

IQ mining also states that they have unique software that allows mining of not only Bitcoin but also the most profitable coins at a given period of time. Apparently, you can’t manually switch between altcoins in the process of mining, like you do with the Minergate service. The software decides by itself which altcoins to mine and then converts them to Bitcoin.

The similar reward scheme is used by Nicehash, so IQ mining claims the profits they generate per each H/s is roughly 3 times higher, compared to other mining services.

IQMining provides means for mining the following top cryptocurrencies:

  • Bitcoin
  • Litecoin
  • Ethereum
  • Zcash
  • Dash

Frankly speaking, the overall concept of “profit optimization” which is employed by IQ Mining and other similar cloud mining services is a bit misleading in its essence since it is a generally known fact in the crypto world that the price of all altcoins is pegged to the price of Bitcoin to some extent. In other words, when the price of Bitcoin goes down, the price of almost all major altcoins also plummets.

There are certain exceptions, thought the price difference is not very significant and tends to even out with the price of Bitcoin. Therefore, if the cloud mining service doesn’t offer you an opportunity to manually pick the altcoin you would like to mine, then such ‘profitable’ offers are no more than a mere marketing stunt.

The software that QI mining presents as its distinctive feature is not innovative. NiceHash mining offers are based on the same scheme, while Minergate provides a choice of what altcoin to mine.

💱 Fees and Pricing Schedule

IQ mining offers three types of contracts: bronze, silver, and gold.

All contracts employ the script algorithm miner. The price of 1 MH/s under bronze contract is $5; the owners of the silver contract will have to pay $4 per MH/s, while the buyers of the gold contract will enjoy the lowest price of $3 for 1 MH/s. Compared to other cloud mining services, these prices are more than reasonable, not to say cheap.

IQ mining also claims that they offer low maintenance fees due to the availability of smart contract with data centers. For instance, the maintenance fee under silver contract is just $0.003 per day. You can buy as little as 1 MH/s for $5, though the expected profit will also be the pathetic $7. The most expensive contract available at IQ mining is worth $30,000 for which you can buy 1000 MH/s.

There is a rather convenient revenue calculator on the website where you can input the exact amount of MH/s you would like to purchase and you will immediately see the expected profits. Certainly, these calculations don’t take into account the possible increase in mining difficulty and price fluctuations.

There are no mentions of special offers, welcome bonuses or referral programs on the website.

Overall, the pricing on IQ Mining seems to be suspiciously low, while the promised return on investment is unreasonably high.

Bitcoin cloud mining price:

  • 10 GH/s = 1$ (Bronze)
  • 10 GH/s = 0.8$ (Silver from 3000 GH/s)
  • 10 GH/s = 0.6$ (Gold from 30000 GH/s)

Litecoin cloud mining price:

  • 1 MH/s = 3$ (Bronze)
  • 1 MH/s = 2.8$ (Silver from 300 MH/s)
  • 1 MH/s = 2.6$ (Gold from 3000 MH/s)

Ethereum cloud mining price:

  • 100 KH/s = 2$ (Bronze)
  • 100 KH/s = 1.8$ (Silver from 30000 KH/s)
  • 100 KH/s = 1.6$ (Gold from 300000 KH/s)

Zcash cloud mining price:

  • 1 H/s = 1.8$ (Bronze)
  • 1 H/s = 1.6$ (Silver from 300 H/s)
  • 1 H/s = 1.3$ (Gold from 3000 H/s)

Dash cloud mining price:

  • 1 MH/s = 3$ (Bronze)
  • 1 MH/s = 2.8$ (Silver from 300 MH/s)
  • 1 MH/s = 2.6$ (Gold from 3000 MH/s)

Go to IQMining.com

IQMining User Experience

The IQ mining website has a decent minimalistic design and user-friendly interface. There are no wordy explanations of all the details of their operations, everything is kept uncluttered and comprehensible, which is a plus for the inexperienced miners but, at the same time, unconvincing for those who know a thing or two about cloud mining services.

IQmining interface

The website content is translated into four major European languages (English, Russian, Spanish, and French).

IQMining.com Review

There is also an easy-to-use calculator of expected profits.

The sign-up process is easy, you don’t need to verify your identity; only your name, surname, and telephone number are needed to create account.

✔️ Advantages:

User-friendly interface;

Smart mining feature;

Appealing prices.

❌ Disadvantages:

No proof of existence;

Suspiciously high profit forecasts.

Overall Conclusion

IQ Mining seems to be not overly credible since the website contains very little information about people who stand behind this company. The fees are pleasantly low and the promised profits are suspiciously high. Their distinguishing feature – the smart mining of altcoins – is appealing, though it is not unheard of in the market; there is no clear explanation of how it actually works.

Generally, IQ mining is suitable for small ‘try-out’ investments of no more than $100 – serious money should be invested elsewhere, at least until the service gains more credibility.


Go to IQMining.com

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