Hashflare Cloud Mining in Pools and Its Advantages

Cloud mining is a procedure of cryptocurrency mining, which has gained great popularity nowadays. Its essence is that one company buys all the necessary ASIC devices, plugs them in their offices and adjusts the production process. This company provides this equipment for rent to any user who wants to participate in the mining process. The miners unite in special pools to work with one task — increasing the mining rate and their reward.

Hashflare is one of such firms, which provide devices for mining for rent. The main goal of Hashflare is to improve the scope of cloud mining. The company provides a low level of entry for user and takes care of maintenance of the equipment.

Advantages of Hashflare for miners:

  • possibility to start mining and earn cryptocurrency remotely;
  • efficiency and profitability;
  • no need in having experience;
  • fast starting of work and quick withdrawals;
  • accessibility for everyone;
  • possibility of mining several cryptocurrencies simultaneously;
  • no hidden fees and charges.

One of the main advantages which should be specially highlighted is the possibility to select hashflare pools for mining. This allows you to distribute your capacities most optimally between the most profitable mining pools.

Mining pools appeared with the increasing complexity of mining digital currencies, when users were forced to abandon single-line mining, as it was almost impossible to calculate the block independently. They began to unite in a variety of pools, in which the computing power of their equipment is added to the searching of solutions.

How to Select and Configure the Optimal Mining Pool

The computer hardware of Hashflare service is configured for certain (standard — evenly between all available) pools. To increase the efficiency of mining, you need to use correct hashflare pool settings. You can change the percentage value of the contribution to a particular pool only once a day, since the calculation of pool capacity is also carried out once a day.

The redistribution of power is quite simple, it is necessary to perform the following series of actions for this:

  • login to the site of the service under your account and move to your personal cabinet;
  • click the pools configuration icon for chosen currency in the form of gears;
  • in the appearing window redistribute and configure the pools for Hashflare mining;
  • press the save button to save the results.

You can choose one, two or three pools at once. If you select two or three pools, you will be able to adjust the proportion of capacity distribution. Choosing hashflare best pool directly affects your daily income, as pools are created to combine capacity and increase the chances of finding a block of transactions and getting a reward. The revenue is distributed among all pool members, depending on the number of received positive shares (part of the task of finding a crypto solution).

Capacity Management Strategies

At the moment, there are two main strategies for the distribution of capacities that contribute to the maximum profitability of mining.

  1. One pool strategy. It is characterized by maximum simplicity and high level of profitability. This strategy is popular both among beginners and professionals. You need to transfer all available capacity to the most popular and large pool at the moment and turn off the rest pools. For example, such a pool for the SHA-256 algorithm on Hashlare is AntPool, for Scrypt — Prohashing, and for ETHASH — Dwarfpool or EthereumPool.co. They change rarely, but it is worthwhile to look through (once a week) the relevant lists on the statistics sites.
  2. Adaptive capacity management strategy. It is slightly less efficient than the one pool strategy, and is more time-consuming, but at the same time it allows diversifying risks. If the yield of one of the pools falls, this is partially offset by an increase in the yield of the other two pools. You need to view the information on the available pools in Hashlare, select three of them for popularity and profitability (pool capacity). Next, calculate their proportional power (relative to the three selected ones) and set the corresponding values. When working with this strategy, it is necessary to recalculate profitable pools for Hashflare every few days and adjust the capacity allocation accordingly.

Choosing the optimal strategy for you, do not forget to consider hashflare pool fees for calculating future profits. It is worth noting that despite these commissions, the cloud mining in the hashflare pools still remains profitable with a prediction of a yield of 90-120% annually.

Conclusion

Today cloud mining can be attributed to promising types of investment. It allows you to earn without buying expensive equipment, wasting time for its configuration and maintenance. However, as with any investment, it is necessary to approach it with all responsibility and remember that setting up pools in Hashflare to get the maximum profit is one of the most important parts of the process of mining the cryptocurrency.

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