HashFlare Cloud Mining Service Overview

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General project information HashFlare

The source of passive income is always of interest to people. In recent years, mining has become a new type of earnings. The development of blockchain technology and cryptocurrencies based on it are gradually conquering the world economy market. Many people have ceased to consider Bitcoin a financial pyramid, as it was before, but use it as a means of payment. Now the cryptocurrency industry offers many different products and solutions for business. One of these is the Hashflare.io cloud mining project, an overview of which is presented below.

Hashflare is a business unit of HashCoins, which was formed in 2015. The official representative office is located in Edinburgh (Scotland). The main activity is the development of applications for creating cloud mining, as well as equipment maintenance in data centers.

The main task that the Hashflare team set for itself until 2017 was to create a service to provide access to mining to the maximum number of people. The idea was realized thanks to the leveling of the following factors:

  • Users do not have to have experience in mining;
  • Do not need large amounts of investment;
  • The presence of high-performance equipment.

The founders of the project seek to develop blockchain technology and the mining process. Hashflare’s cryptocurrency cloud mining is characterized by a low threshold for entry, reduces risks and costs, including equipment maintenance.

Since the level of difficulty in mining blocks is constantly growing, and the cost of cryptocurrencies is very unpredictable, the volume of payments can be predicted only approximately. But the team aims to achieve a RoI of 200% every year.

Hashflare is a business unit of HashCoins, which was formed in 2015. The official representative office is located in Edinburgh (Scotland). The main activity is the development of applications for creating cloud mining, as well as equipment maintenance in data centers.

The main task that the Hashflare team set for itself until 2017 was to create a service to provide access to mining to the maximum number of people. The idea was realized thanks to the leveling of the following factors:

  • Users do not have to have experience in mining;
  • Do not need large amounts of investment;
  • The presence of high-performance equipment.

The founders of the project seek to develop blockchain technology and the mining process. Hashflare’s cryptocurrency cloud mining is characterized by a low threshold for entry, reduces risks and costs, including equipment maintenance.

Since the level of difficulty in mining blocks is constantly growing, and the cost of cryptocurrencies is very unpredictable, the volume of payments can be predicted only approximately. But the team aims to achieve a RoI of 200% every year.

Hashflare Basics

To correctly understand the principles of working with a project, it is necessary to indicate the following terms:

  • Power is computing equipment that is specifically designed for cryptocurrency mining. Basically, they are highly specialized devices created for only one purpose – the calculation of algorithms for mining coins. The equipment that the project uses is manufactured by ASIC.
  • Pool – combining a large number of miners to increase the likelihood of finding a block before others.
  • Payments – all fees received for servicing the network are distributed according to the amount of rented hashrate.

Advantages of cloud mining on Hashflare.io

Registration on the project is quite simple. All you need to specify is a valid email address, country of residence, think up and retype the password, date of birth and captcha. After confirming the e-mail, the following options are available to you:

  • Connection of computing power occurs immediately after payment;
  • Instant withdrawal of funds from the system;
  • Detailed account statistics, independent of time;
  • Hashflare allows you to configure leased capacity for different pools to ensure maximum profit;
  • There are no hidden fees, and all changes in the status of accounts can be viewed in your account.

Price policy

At the moment, the company’s website presents annual mining contracts. Service charges are charged for the 24 hours minimum hash rate. As of March 2018, the following rates are available for selection:

  • Mining on the Scrypt algorithm (Litecoin, Dogecoin, Syscoin are based on it) – the cost is $ 3.2 per 1 MN / s, with a maintenance fee of $ 0.005;
  • Mining on the SHA-256 algorithm (underlying Bitcoin and its forks) – the cost is $ 1.2 for 10 GH / s, with a maintenance fee of $ 0.0035;
  • ETHEREUM cloud mining on a farm from video cards with a minimum package of $ 2.2 per 100 KH / s, without a service charge;
  • ZCASH cloud mining with a minimum package of $ 2 per 1 H / s, no maintenance fee;
  • DASH mining on the X11 algorithm – the cost is $ 3.2 per 1 MH / s, without a maintenance fee.

 Mining profitability on the Hashflare.io service

  • Before you start investing in cloud mining of cryptocurrency, you should at least approximately calculate the income from this type of activity. In your account there is no such information until you receive the first accruals.

    The frequently asked questions section recommends contacting https://www.coinwarz.com/calculators for this information. In the form fields, you must enter the purchased hashrate, and reset the electricity and power meters. After clicking the ‘Calculate’ button, a table with the following data will appear at the bottom:

  • The resulting amount of bitcoins that can be obtained for a certain period (hour, day, week, month) of time;
  • The same amount in terms of dollars.

It is important to remember that for the Scrypt and SHA-256 algorithms, the cost of maintenance also needs to be taken.

An important aspect is the choice of pool. The higher its hashrate, the more often the pool will find a new block, which means it will receive a reward, thus increasing your profit. Therefore, you must first monitor the pools according to the selected algorithm.

The minimum withdrawal amounts from the Hashflare site are:

  • 0.005 BTC, network commission 0.00002808 BTC;
  • 0.1 ETN, network commission 0.0006 ETN;
  • 0.1 DASH, network commission 0.0003 DASH;
  • 0.1 ZEC, network commission 0.0003 ZEC.

Project Development Prospects

The main problem that potential investors may face in the near future is the slowdown in the growth of cryptocurrency costs, which in turn will negatively affect the payback period of investments. After the December rally in the first quarter of 2018, prices rolled back, which already led to a decrease in profitability.

But there are suggestions that cryptocurrencies will grow in price, and mining will remain profitable. Regarding the transition of Ethereum to the Proof of Stake method, the developers say that in this case the leased capacities under the ETHEREUM tariff will switch to the extraction of other equally promising coins.

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