Minergate Cryptocurrency Cloud Mining
MinerGate is a mining pool that offers the extraction of cryptocurrencies on the equipment of users, as well as renting capacities in remote data centers. We examined the MinerGate service in detail and decided to write a separate review article, as well as share our feedback.
A bit about the history of MinerGate
The service began its work in 2014, when a group of mining enthusiasts decided to create a pool for joint cryptocurrency mining. Initially, mining through the browser was available only on client devices, but after a while the company offered equipment for Bitcoin cloud mining, and in 2017 for mining Monero.
Is it worth investing in cloud mining at MinerGate
Before renting capacities, our team went through investment forums where all the possibilities of this service were discussed. We found that 80% of all reviews of MinerGate are positive, the participants were not afraid to share screenshots of their payments, where the payback of purchased contacts was clearly shown. Based on this, it was decided to conclude a contract with the rental service of 10 GH / s. Choosing this cloud mining service for investment, we noted the following advantages:
- Convenient and simple interface, with the presence of the Russian language;
- Rewards are accrued directly from the mined block with new coins;
- Perpetual contracts;
- Instant withdrawal of funds, without prolonged moderation;
- MinerGate has a fairly high payback, when compared with other cloud mining services.
Several years of the existence of this service, as well as the payment of rewards with new coins, indicate that it really produces cryptocurrencies, and does not work according to the fraudulent “Ponzi scheme” (in any case, it seems to us).
Therefore, we chose this service as one of the main services for earning on cloud mining.
Register and purchase a hashrate
The site interface is available in 19 languages, including Russian. Simple design and intuitive navigation make it easy to work with the service.
To purchase a contract, you need to register by clicking the “Sing up” button and entering your email address and password.
After registration, you will be redirected to the page with contracts and to buy a hashrate, go through the following steps:
1. Click the Buy button.
2. Select the desired amount of hashrate. Its cost will be calculated automatically and displayed in the “One-time cost” field.
3. Click “Buy” and make a payment to the specified wallet address or from the current balance on the service.
Information on the status of the contract can be obtained in your account in the ‘Cloud mining’ section. Mining of the selected cryptocurrency begins at 0:00 UTC after the payment. Rewards for found units are paid every day and a service and power charge will be deducted from them. The first payment will be credited to your account within 1-2 days after purchase.
How to withdraw funds to the wallet
Earned coins are displayed on the wallet in the ‘Dashboard’ tab. To withdraw funds, click the “Withdraw” button near the balance of the displayed currency. Indicate how many coins you plan to withdraw and enter the wallet address, click ‘Withdraw’.
After these steps, the transaction is displayed in the ‘Transactions history’ tab.
What currencies are mined on MinerGate
The service offers rental equipment for mining two cryptocurrencies – Bitcoin and Monero. The contract price for 20GH / s of Bitcoin mining capacity is $ 2.9. And to buy a 10H / s hashrate for mining Monero you need to pay $ 6.53.
Users often provide feedback on the mining of these currencies on MinerGate and note the high profitability of such contracts. It also announced the appearance of Ethereum mining contracts in 2018. Therefore, if you are interested in cloud mining of Ether, we advise you to follow the updates of the resource.
Return on investment in cloud mining MinerGate
Another of the advantages of this service is a convenient calculator that allows you to predict the profitability in cloud mining in MinerGate.
Using the calculator, we will calculate how much you can earn per month by buying a contract for 1000 GH / s worth $ 145. With the current complexity of the network 1,590,896,927,258, monthly earnings will be $ 13.43 and investments will pay off in 10-11 months. But you should not rely solely on the data of the calculator, because the cryptocurrency rate is constantly changing, and the complexity of the network is growing.
Therefore, also pay attention to the opinions of users about MinerGate whose reviews often contain earnings data.
To date, the real return on investment in the contracts of this service is 116-120% per year. That is, investments pay off in 10 months, which corresponds to our forecast.
Summing up the review
MinerGate is a reliable cloud mining service that offers profitable contracts and demonstrates a high return on investment. It will be of interest to both experienced miners and those who are just starting to earn on cryptocurrency mining. This is evidenced by the numerous MinerGate reviews in 2018 and the fact that its customers are more than 20 thousand miners.