There are many different type of scams that people are trying to exploit others to make profit. This is no different in the crypto world, especially now with the hype of the bull run. ASICWay is one of them and it is not difficult at all to identify this scam. There are several obvious facts that if someone did only a little research would identify very easily. Since some people that got involved in crypto, especially the ones joined recently, are not familiar with technical terms and technologies, it is easy to fall for some scams. First of all, the most obvious was to see Monero (XMR) in the list of coins the miners can mine. Monero is ASIC resistant intentionally so claiming that an ASIC miner can mine Monero was the first red flag identified. Mining with many different algorithms doesn’t make sense, it means you need multiple and different ASIC chips with one running and the rest idle. Having separate machines would be much better for performance and economics. Another thing that is very obvious is the difference in efficiency, the latest miners need around 3KW for about 100TH/s and those mentioned 3x the power with 1/5 of the energy, that doesn’t exist currently and it will take ages if we ever reach that point. Lastly, no company can guarantee a ROI because everything is changing dramatically in crypto, the difficulty of mining and the price are both very unpredictable.
There may be more reasons that point to ASICWay to be a scam but those are some of the most obvious by me. Since some articles already made their way to some news websites, hopefully by mistake, I wanted to write this article with hope that someone reads it before it is too late and falls for this scam. If something looks too good to be true, most of the times it is. Please do your research and/or ask the community before putting your hard-earned money into something you are not familiar with. I am a big fan of cryptos and I like the way they are disrupting the financial world. Don’t let scammers ruin it for you.