Play store, a prominent application marketable on android devices enables android users to download different applications for free and paid. You can visit Auto-Trading App to deeply analyze bitcoin trading and mining. Recently play store listed a huge number of cryptocurrency mining applications, but google decreased this number by banning eight mining applications from the play store. These applications were involved in fraud activities, luring innocent cryptocurrency users to invest money into their applications.
Many people don’t know what cryptocurrency mining is, and those who know might be unaware that one can perform this activity with the help of an android device. So here listed is an utter explanation of how google banned these cryptocurrency mining applications from the play store.
What are cryptocurrency mining applications?
Cryptocurrency mining applications enable users to mine digital currencies like ether, Monero, and BTC commencing an android device. These mining applications either utilize the hardware of an android device to execute the guesswork or enable a user to rent mining machines online or operate the entire business virtually without owning a single mining machine.
The majority of cryptocurrency mining applications that google banned provided cloud mining services. These malicious cryptocurrency mining applications lured a massive number of users by displaying a fake live dashboard of hash rate. Moreover, these mining applications guaranteed a definite amount of profits to the users.
The majority of the cloud cryptocurrency mining applications had a paid subscription. Besides a paid subscription, these applications somehow convinced miners to buy their other premium services. So far, Google has removed more than eight virtual currency mining applications from their platform, but as per a few reports, there are hundreds of fraud cryptocurrency mining applications.
Why are cryptocurrency mining scams increasing?
The revenue of the cryptocurrency mining industry is gaining the attention of many people. However, since the mining industry is equipped with many emerging miners, it is acquiring traction from hackers and scammers.
Cloud cryptocurrency mining scams are pretty usual in the mining community, and these scams’ prospects are very high. People easily get fooled by these mining applications as they guarantee some substantial profit to the miners by showing them a false hash rate dashboard.
Who flagged these mining applications?
Trend micro was the company that flagged cryptocurrency mining applications fooling people to invest in their platform. Subsequently, Google decided to delist these mining applications from the play store.
Which applications did google ban?
As discussed above, google banned more than eight applications from the play store. Since cloud cryptocurrency mining scams are straightforward to execute, most mining applications promise the users to provide such services. The cryptocurrency mining applications that google decided to delist recently from the play store are bit funds, bitcoin miner, and daily bitcoin rewards.
A mining application named bitcoin miner is still listed on the play store, and it is a legit platform allowing people to begin their android cryptocurrency mining journey. Some other applications flagged by the trend micro are daily bitcoin rewards, mine bit pro, and Ethereum.
Instructions!
Undeniably google has banned these cryptocurrency mining applications, but these applications are still available on several websites and another application marketplace. Moreover, android users still have these mining applications on their mobile devices. Therefore, Google has advised every android user to avoid such mining applications.
As per reports, the mere legit mining applications that have built trust over the past few years are miners gate and bitcoin miners. In short, if you want to keep your data safe from malicious elements, you should avoid using such an application. These applications made a handsome revenue from their paid subscription as they successfully fooled many emerging miners.
Trend micro has recently announced that their team has found more than 100 fake cryptocurrency mining applications. Trend Micro will soon flag most of these mining applications, but it is questionable how cryptocurrency mining applications will google ban from the play store. Fake cryptocurrency mining applications have scammed plenty of miners over the past year, and the probability of these scams is still very high.
The above-listed portions explain banning cryptocurrency mining applications from the play store.