Today We going to show Hashflare Review. It is a cloud mining company that was around for some years now. Let us share our own experience with this cloud mining website, as well as some useful info. We’ve also gained a knowledge about it from other sources.
Is Hashflare Cloud Mining Scam or Legit?
About every other Bitcoin question We get is “is bitcoin cloud mining profitable?” or “is Ethereum cloud mining worth it?”
Many People will say that cryptocurrency cloud mining is a scam. Some people will say it is not a scam because they tried mining of crypto coins in the cloud many times.
Most of the cloud mining companies are don’t actually have any mining equipment. The money that you pay for hashpower is usually used for paying out older and more profitable customers or the company itself. Probably You don’t have to look too hard to find many SCAM examples related to mining in the cloud. Just look and read some hashflare reviews to see if mining in the hashfare cloud is a scam or legit?
With our hashflare review you will learn step by step:
- How the HASHFLARE company works?
- Which hashflare contract is the best?
- In Which way to calculate a profit from Hashflare?
- Which Hashflare mining pools settings are the best?
- Do hashflare have affiliate (referral) program?
- When hashflare payout?
- Can I trust hashflare? (proofs of legitimate business)
- How to start cloud mining without investment?
However, before we start answering these extremely intriguing questions, we should first look at the history of Hashflare’s founding.
Few Historical facts about Hashflare
Hashflare has been founded in 2014 in Tallinn (capital of Estonia). You should know that Estonian electricity prices are very low. They providing cloud mining services since 2015. Blockchain solutions and hardware in Hashflare is supported since 2013.
HashCoin team develop their mining equipment and maintenance on a regular basis. Most of all company is constantly improving mining hardwere. They improve it on the level of cloud mining efficiency and lower electricity consumption what can be a good premise in the future.
Ivan Turygin started companies like Hashflare and HashCoins. Ivan is also the CEO of Burfa Capital. It is Estonia consultation agency.
The next founder of Hashflare is Sergei Potapenko. Sergei also has a Bachelor’s degree in Business Administration from the Tallinna Technical College. Another company that also belongs to Sergei Potapenko is Siberian Timber. This company importing redwood pine for the UK market and it has a completely different profile than hashflare.
The Hashflare company has over a dozen thousand ASIC miner devices for mining bitcoin, ethereum, litecoin and other crypto-currencies. Hashflare ensures constantly developing new mining hardware. This hardware is up to date with the newest blockchain technology.
Part of the company’s equity capital is dedicated to innovation and improvement. However, the company also has private investors who provide additional funds for the start-up.
The Hashflare miners equipment are located in a hi-tech and modernly equipped facility. The room with mining devices has constantly monitored parameters such as temperature and humidity. Such control ensures maximum hashpower capacity without the risk of overheating.
Which hashflare contract is the best?
HashFlare offers 5 different mining methods. Each of them has a different price and maintenance fees. It is difficult to determine which of the hashflare algorithms is the most profitable. The amount of income depends on the price of the selected cryptocurrency at a given time. Of course, earnings are also dependent on how much money you invest.
At the beginning of our adventure with hashflare we started with Scrypt which mine for litecoin. However, that choice was based on the maintenance fees, since the maintenance fees on Hashflare
The maintenance fees is linear and equals 0.0035 USD per every 10 GH/s of SHA-256 and 0.01 USD per every 1 MH/s of Scrypt per day. Ethereum contracts are not subject to any fees.
PLANS & CONTRACTS EXAMPLE
Below we present calculations for two selected methods when purchasing a one-year contract for the price of USD 200. Assuming that the prices of individual cryptocurrencies are:
BTC = 10,000 USD
LTC = 220 USD
1. Assuming that the price for 1 BTC is 10,000 USD. Below are the annual revenues from the 256-SHA contract worth 200 USD. Of course, it should be taken into account that the price of bitcoin can grow significantly over the year than other cryptocurrencies.
If at the time of purchasing 1 BTC = 10,000 USD, and after a year the price for 1 BTC will amount to 20,000 USD, then your income will increase twice. However, when bitcoin drops, analogically this situation may work in the other side.
2. Assuming that the price for 1 LTC is 10,000 USD. Below are the annual revenues from the SCRYPT contract worth 200 USD. The LTC price is much less than the BTC price. Therefore, the possibility of earning and the risk are much smaller than in the case of the SHA-256 contract. However, it should be remembered that at any time we can convert our LTC into BTC.
This hashflare review is for anyone who is looking for opportunities to invest in cryptocurrencies. We hope that it will be helpful for you in making the right decision.
Calculate a profit from Hashflare
Profit is calculated via the deduction of expenses from income.
The income consists of daily payouts which size depends on the hashrate. In order to calculate an estimated income using the hashrate you will need to include it in one of the calculators below (set all Power values to zero):
1. Bitcoin – for SHA-256
2. Litecoin – for Scrypt
3. Ethereum – for ETHASH (set all Power values to zero)
4. DASH – for X11 (set all Power values to zero)
5. Zcash – for EQUIHASH (set all Power values to zero)
Next, deduct the maintenance + electricity fee of 0.0035 USD per 10 GH/s of SHA-256 and 0.005 USD per 1 MH/s of Scrypt from the income. ETHASH, X11 and EQUIHASH contracts are not subject to any fees.
The sum you end up with is your estimated profit.
Now watch this video about clou mining profitability to take a break in reading ours hashflare review.
We hope that this is the best hashflare review you’ve come across on the internet so far.
Best Hashflare Mining Pool settings
Mining pools are group of miners working together to mine bitcoins. Miners share the rewards based on the hashrate everyone contributes.
Hash Rate, also Hash Power, is the measuring unit that measures how much power Bitcoin network is consuming to be continuously functional. By continuously functional We mean how much hash power is it consuming to generate/find blocks at the normal mean time of 10 minutes for BTC.
How Mining works in a mining pool?
In simple terms, your mining engine is like a worker bee. Mining machine will connect to one of the mining pools and a work gets allocated to solve a part of the SHA-256 puzzle (algorithm). Based on the overall rewards you will receive your share and the reward depends on how much hashrate are you contributing.
Why should I join mining pools ?
Chance of you mining alone and finding a new block are very low. Instead is better you join a group of miners who work together and share rewards. In this case your payouts will be in a predictable manner.
Below is an example of the most profitable mining pools
This is the Best Pools setting in bitcoinblog24 opinion: Antpool, F2pool and BTCchina.
Profit up 20% than Default Settings!
This HashFlare review will help you make an informed choice.
Hashflare referral program
HashFlare website is paying for affiliate marketing for your referrals. It means that you make money by sending customers to Hashflare platform. It is a win-win strategy for everyone. If your referrals go to Hashflare website to invest, you will earn money.
So if you come to the conclusion that the investment in Hashflare is profitable, you can invite your friends from facebook to invest.
What about the rules of Hashflare refferal program?
- Every HashFlare customer has a unique referral link. Thos link can be shared with anyone, you would like to invite to start using HashFlare cloud mining. Every new user, who sign up using your referral link becomes a lifetime referral.
- As a referrer, you you can receive 10% referral commission for every purchase from your referrals, including reinvest and balance purchases. Your commission is added to your account’s balance in BTCas soon as the purchase is confirmed. Also you can invest your earned BTC in cloud mining contract which would give you huge returns after some time.
Below we present examples of commissions that can be obtained from promoting Hashflare cloud mining:
All payouts occur once per day. You will receive your first payout the following day after completing a purchase. Afterward, the payouts continue daily.
Usually, the payouts are made from 00:00 to 09:00 UTC. As the workload required to complete the payouts is significantly higher right now, the process now runs from 00:00 to 13:00 UTC.
Can I trust hashflare?
Is Hashflare.io a trusted cloud mining site? Hashflare website looks almost like a clone of http://genesis-mining.com (which is legit in our opinion)!
Hashflare company have an Instagram account > https://instagram.com/hashcoins/ proving they are really mining!
In our Hashflare review, we compare several comments of users who use Hashflare cloud mining service.
Before you choose the right cloud mining platform for yourself, read the comments of more experienced users:
I have used Hashflare for more than 1.5 months and so far the payouts are following my initial forecast. ROI on one year is 400%, could lower to 300% according to the difficulty of hashrate.
But this cloud mining is legit, no doubt about it. Already I got back 50% of my initial investment in 1.5 month. I will be breakeven in another 1.5 month.
I had a doubt what cloud mining service to start with. But after reading a lot of Hashflare reviews I choosed Hashflare. There are some reasons:
– immediate payouts
– unlimited contract length
– no any hidden fees and provide affordable mining equipment.
I bought first 40 GH SHA-256. After one week I got first payment. Next day I looked at the prices and i really can buy next one for the price of 200$ per 1 TH. Gotta buy more bitcoin so I can buy next contract.
We hope that these comments will be as helpful to you as our Hashflare Review.
In bitcoinblog24 opionion, Hashflare.io is legit.
In conclusion the company exists since 2014 and is very transparent to their customers. The fees, costs and referral revenues are presented quite well and clearly. Payouts at Hashflare work correctly and are very fast.
Most of all cloud mining offers a unique mining option with a quite low contract cost as well as minimal risk, which is opposite of traditional mining models that include the purchase, maintenance and configuration of highly specialized equipment.
Start cloud mining without investment
If you do not have enough money to invest in the cloud mining service, you can get it in a very simple way. All you need to do is read our article about earning money from COINPOT FAUCETS and make some money to invest on HASHFLARE.