HashFlare is a bitcoin cloud mining platform that promises fixed fees, instant withdrawals, and multi-pool support. Read our HashFlare review to find out how it works. Hashflare.io Review. Siberian Timber, that is importing redwood pine for the UK market. The Hashflare miners. As Hashflare provides cloud mining for 5. Last updated June 13, 2017 Want to find the best Bitcoin cloud mining contracts? This post has you covered. Most Bitcoin Cloud Mining Companies are Scams Like the heading says, most cloud mining contracts are scams. Because it’s easy for companies to take peoples’ money, and then not pay out. A company can claim to be a cloud mining company without any proof of actually owning any hardware. So remember: 99% of cloud mining companies are scams. Which Companies Are Not Scams? There is only one cloud mining company we are willing to recommend on this site:. Just because they are not scams, however, does not mean that you will make a profit by buying contracts. Note: You need a wallet to receive payouts to. A secure hardware wallet like the is a good option. Genesis Mining Genesis Mining is a Hong Kong based company although its founders are from Germany and attend many Bitcoin conferences. You can read more about Genesis Mining on their. Offers three different Bitcoin mining cloud contracts. All plans are paid with a one time payment and are lifetime contracts: Gold: 100 GH/s plan that costs $19. Platinum: 2,000 GH/s plan that costs $340. Diamond: 10,000 GH/s plan that costs $1,600. Is Cloud Mining Profitable? It depends what your goals are with cloud mining. If your goal is to obtain bitcoins, then there is really no reason to cloud mine or even mine at all. You will get more bitcoins for your buck if you just! If you think mining is cool and want to try, then cloud mining still is not a good option. Grab a and run it at home. Just Want Bitcoins? If you just want bitcoins, mining is NOT the best way to obtain coins. Buying bitcoins is the EASIEST and FASTEST way to purchase bitcoins. Get $10 worth of free bitcoins when you buy $100 or more. Bitcoin Cloud Mining Comparison There is not much to compare, because we personally do not recommend buying any clooud mining contracts so we will not spend the time to compare the two companies above. But check back in to see if we find any new, legit cloud mining companies. Bitcoin Cloud Mining Scams History The reason there are so many cloud mining scams is because it is very easy for anyone in the world to setup a website. Once the website is setup it can claim that the company has a large mining facility. The company can act legit by sending initial payments to its customers. But after that it can just keep the already received payments for hash power and then make no further payments. In just the last few months, two cloud mining scams were uncovered: and. What Payment Methods do Cloud Mining Companies Accept? Most cloud mining companies accept Bitcoin, PayPal, and. If a cloud mining company accepts bitcoins then there is a good chance it is a scam. This is because Bitcoin payments cannot be reversed. Once the scam company receives your bitcoin payment you have no way to get your coins back. • • • • • • • • • • • • Are there Free Cloud Mining Trials? No company would give away free cloud mining; this is basically giving away free money. Any company offering free trials, especially if they require payment information, is most likely a scam. How does Bitcoin Cloud Mining Work? Cloud mining means a host company owns Bitcoin mining hardware and runs it at a warehouse. You pay the company and rent out some of the hardware. Based on the amount of hash power you rent, you will earn a share of payments from the cloud mining company for any revenue generated by the hash power you purchased. Cloud Mining Viruses There that land on computers and then use the computers’ power to mine bitcoins. Run a malware detector on your computer if you think you may have come under attack. Just buy Bitcoins! If you just want bitcoins, don’t bother with cloud mining. Con: • Maintenance fees for litecoin and bitcoin • In case of wire transfers they charge a commission fee • Short FAQ section turns cryptocurrency mining accessible to everyone. There is no need to buy expensive and complex mining equipment, Hashflare wants to make mining accessible for all users around the globe no matter of age or background. The clients only need to select a desired hashpower and start generating revenue right away with the Hashflare cloud mining service. Earnings with cloud mining becomes more predictable with Hashflare than it used to be during traditional bitcoin hardware mining. The hashrates starts from as little as 10GH/s, so new clients does not need to invest a lot of funds to join the cloud mining business. About Hashflare The Estonian Hashflare is has been founded in 2014 in Tallinn and providing cloud mining services since the beginning of 2015. The technology behind is powered by the HashCoin team that is dealing with blockchain solutions and hardware since 2013. They have been producing ten thousands ASIC miner devices for mining bitcoin, litecoin and other digital currencies. Hashflare partnering with HashCoins ensures continuously developing new mining hardware that is up to date with the newest blockchain technology. The innovations are financed from the companys own share capital, but they also have special investors who provide additional funding to the startup. The founders of the company are two Estonian digital entrepreneur. Has a Business Administration degree and has several years experience in cryptocurrencies. Beside running Hashflare and HashCoins he is also the founder and CEO of Burfa Capital, an Estonia based consultation agency. The other founder of Hashflare is also has a Bachelors degree in Business Administration from the Tallinna Technical College. Beside Hashflare he is owning a company with a much different profile: Siberian Timber, that is importing redwood pine for the UK market. The Hashflare miners are located in a hi-tech, modern facility, where the room temperature and moisture is constantly monitored according to industry standards. This ensures maximum hashpower capacity without the danger of overheat. Hashflare on Social Media • Facebook: • Twitter: • Instagram: Coins: bitcoin, litecoin, ethereum, zcash, dash Address Hashflare, Tartu mnt 43, Tallinn 10128, Estonia Services Provided Scrypt, SHA256, Ethash, Equihash and X11 algorithms are all running on the GPU equipment provided by Hashcoin. The contracts are all available from 24 hours contract time up until lifetime accesses, except for Ethereum and Zcash where the length of the contract is maximized in 1 year. The cloud mining results at Hashflare show up on the client accounts immediately after payment confirmation and the client receives the first payout just 24 hours after the first block mined. Clients can choose the withdrawal methods from bitcoin, credit cards and wire transfers. The Hashflare mining contracts can be signed from one day up to unlimited time. Clients may use Hashflare services as long as they wish to do, there is no time limit applied. Users allocate their hashpower directly to the mining pool they wish to serve in. At Hashflare, users can join any mining pool they with to do, so the most profitable combination of cloud mining activity can be reached for any client. Then the mined cryptocurrencies are distributed among the Hashflare customers based on their share they bought at the company (PPS method). At registration, Hashflare asks for the country of residence and for the date of birth as well beside the usual user name and password. This information is only used in case of security questions asked if they think the account has been compromised. Hashflare also provides detailed, real-time statistics about the mining activity. They are running a partner program, where the clients can earn up to 10% commission on each purchase of the recommended new user makes. Fees and Pricing Schedule As Hashflare provides cloud mining for 5 different algorithms, the pricing is tailored to each cryptocurrency individually. Users may start cloud mining as little investment as $1.20. The fees are based on hashpower and also they apply certain maintenance fee also based on the supplied hashpower during a 24 hour window. Maintenance fees are only applicable for Scrypt and SHA256 mining, users mining Ethereum, Zcash or Dash cryptos does not pay any maintenance fee at all. Although on the other hand, these later three currency contracts are only avaliable for 1 year term. Zcash cloud mining has only limited supply at the moment as they only maintain the mining activity until it is profitable for the users. Cloud mining prices are expressed in the form of minimum hashpower provided: • Bitcoin with SHA256 algorithm costs $1.20 per 10 GH/s, • Litecoin with Scrypt algorithm costs $8.20 per 1 MH/s, • Ethereum with Ethash algorithm costs $2.20 per 100 KH/s, • Zcash with equihash algorithm costs $2.00 per 0.1H/s, • Dash with X11 algorithm costs $3.20 per 1MH/s. Hashflare charges a maintenances fee of $0.01 for 1MH/s litecoin hashpower and $0.004 for 10 GH/s bitcoin hashpower daily, after each 24 hour long mining period. These maintenance fees are not billed to the customers, but deducted directly from the mining results at daily payouts. The fees are deducted in bitcoin based on the daily BTC/USD exchange rate provided by Hashflare. The cloud mining company accepts wire transfers in USD and EUR, although they charge an extra 10 EUR commission fee on all purchases below 50 EUR. VISA and Mastercard are also accepted payment methods but they apply a 3000 USD limit per daily purchases for these. Due to customer protection, on the accounts where the hashpower is purchased with credit cards, there is a 14 day holding period, when the accumulated mined currencies cannot be withdrawn from the account. The immediate payouts are appearing on those accounts where the hashpowers are purchased from bitcoin. Hashflare only allows withdrawals beyond the minimum set for bitcoin at 0.0004BTC and for ethereum at 0.0007ETH. At withdrawals they only charge the transfer fee to the blockchain that is 0.0003 BTC and 0.0006 ETH respectively paid to blockchain. Hashflare.io User Experience Hashflare.io has a space themed website where it is easy to navigate. The landing page provides all the necessary information for the cloud mining service they offer. Clients like the user friendly interface and the low initial cost of the cloud mining that Hashflare provides. Although sometime issues arise, according to the user feedback the support team handles all problems quickly and diligently. The Helpdesk is operated through Zendesk platform, so they make sure all issues are taken care of. The FAQ section does not have too many prewritten questions, but includes the most frequent ones and also has a search functionality so users can find solutions quicker. Hashflare care about security. For DDOS protection they are using CloudFlare services and they also recommend for users to use two factor authentication. The website is available in 11 different languages, beside English, Russian, German and Portuguese, the Greek, Turkish, Japanese, Chinese customers can read the pages on their mother tongue. Overall Conclusion Hashflare has a very strong hardware background with the cloudminers supplied by HashCoin. They offer cloud mining for five different cryptocurrencies. The contracts last as long as the mining activity – after the maintenances fees charged – is profitable for both bitcoin and litecoin. Hashflare is a good cloud mining choice for those who want to try crypotcurrency mining but doesn’t want to invest too much money upfront as their minimum plan is starting from $1.20. Due to their fee structure however cloud mining on a big scale at Hashflare can become very expensive. Pros • immediate payouts if hashpower is purchased from bitcoin • unlimited contract length • partner program Cons • maintenance fees for litecoin and bitcoin • in case of wire transfers they charge a commission fee • short FAQ section. December 2017 ETH Miner point of view: I went to HF looking for another option to Gen There were stable and platform looked good. Now with the whole BTC crazy, they keep raising and lowering the withdraw limits and I am only mining ETH. Payment was received and fees are ok, but, the raising and lowering of min payment amounts is getting out of control. There are always messages: “Dear users, Creating new Bitcoin withdrawal requests is temporarily disabled due to a very large number of not broadcasted and/or unconfirmed transactions still pending on the side our provider, block.io. Read more from our newsletter here.” OR “Dear users, As the workload required to complete the payouts is significantly higher right now, the process now runs from 00:00 to 13:00 UTC.” Some places like Nano pool min withdraw is 0.05 ETH, HF used to have withdraw at 0.001 ETH now jumped to 0.1 ETH. Yes still small for all the players that are coming in and area already in the market. For for someone that was is learning this up and down, lack of consistency on the withdraw, and slow support. Makes me start to looking back into Genesys or for a third option. December 2017 I agree with below they keep posting, as of this morning the min amount for ETH cash out is 0.1 As in the past I was able to regularly 0.001, I know we are small fries compared to the big whales, but its our moneywe paid for the server. Compared to others their interface is good. But why should I invest in bigger mining contracts? As far as I nowif they raised the minimum to 0.1 ETH they can soon raise again to 5 ETH and so onwatch out “s the workload required to complete the payouts is significantly higher right now, the process now runs from 00:00 to 13:00 UTC.” “Alberto Y Acuna, 9. December 2017 I have 0.00443109 BTC to withdrawall Theirs said minimun to withdrawall is 0.0115 When click on withdrawall Read: No enough funds Ridiculus. The amount to withdrawall is much more that the minimun This is a SCAM. Theirs not answer the Tickets and no give a solution”. Crypto Wizard, 15. January 2018 Hi guys. Cryptocurrencies is the FUTURE of money. If you invest correctly today, you will make huge amounts as time goes. Since trading cryptocurrencies is very risky due to human beings’ emotions, a good alternative is to buy Bitcoin mining contracts and start earning passive income today. Starting small is okay. For example, if you invest $5k in a Biocoin mining contract with Hashflare today, you will recoup your investment in a bit over three months. The estimated total amount you earn during one year is about $16k to $17k based on conservative calculation. The more you invest, the more you earn, 24 hours per day, 365 days per year. Not to mention that you can always reinvest your earning and make more due to compounding effect. Considering Biocoin price will go up, this investment can only get better. Levent Gun, 20. January 2018 I am using Hashflare since December 2017. At the beginning everything was going well. Then I have started to face some problems. They have increased each day the maintenance fee. It was 13.52% then it has reached up to 25.8% which is too high. Each time I have changes to get better hash rate efficiency, I have end up with lower Hach Rate%. Which is not understandable. I have analysied each pool performance to get better rate but it allways end up with worse. I have made wire transfer at January 2nd. After waiting long time to get additional Hashrate, I did not get anything. I have written several e mails to get fixed the problem. Until today it is not solved. The wire transfer has been done. I did not get any hashrate and no money pay bach as well. And the worse thing I did not get any clear explanation what is going on too. So, there are what I have faced with with Hashflare. Under this experience, I would recomend to be far away from this mining facility.
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