HashFlare Cloud Mining Review

If you’re new to the world of cryptocurrencies or not, you’ve probably heard of the Bitcoin boom and you’re wondering how you can be a part of it. Well it’s not too late, now how do you join the train without having the required technical know-how or time to monitor and maintain specialized hardware. Let’s take a quality look at Hashflare.io a cloud mining company.

Founded at the start of 2015, HashFlare is an online cloud mining website that offers various services. The Parent company is called Hashcoins with Hashflare being a division which was launched in 2013. Cloud mining is the process of mining cryptocurrencies through a remote data center, using shared processing power. Hashflare’s miners are situated in a hi-tech, modern facility, where the room temperature and moisture is constantly monitored according to the best industry standards. This guarantees maximum hashpower capacity without the hazard of overheating.

This way users can mine Bitcoin and other types of cryptocurrencies without the need to own, buy or manage any form of software or hardware. Hashflare’s declared primary aim is to make mining accessible to all users irrespective of age, location, technical know-how or experience. With Hashflare, the aim is to try to give its users a chance to try at mining cryptocurrency earning Bitcoin as a remuneration.

With Cloud mining, the entry is low cost with minimal risk and expense, which differs from traditional models of mining that consists of obtaining, maintaining and configuration of highly specialized hardware.

Because of the complicated nature of mining and its dependence on many external factors like mining difficulty, Bitcoin exchange rate, utility costs etc. To predict the size of an individual’s earnings is next to impossible. One thing that’s not difficult to predict is Bitcoin’s emergence as a major disruptive technology for years to follow.

Is Hashflare Profitable?

To check if cryptocurrency mining is profitable, ROI is used as the suitable measurement. ROI or Return on Investment is the advantage to an investor derived from an investment of a resource which in this case is the cryptocurrency the user chooses to invest in. A high Return on Investment simply implies the investment’s gains compare satisfactorily well In relation to its cost.

You can earn money with cloud mining and earn cryptocurrencies of your choice without having to invest all of your life savings or major cash, you can even save yourself the stress of getting the specialized hardware or software because with Hashflare, everything has been made to be extremely convenient so you start earning some money almost immediately on a daily basis. You might begin to wonder how much can you earn? It’s something you can check and confirm for yourself with Hashflare’s investment calculator. Hashflare has an easy to use investment calculator to guess your potential income from whatever amount you wish to invest, with this you can estimate your ROI.

Cryptocurrencies available on Hashflare for mining

With the various cryptocurrencies available online, you might be wondering which cryptocurrency is available for you to mine. Well, HashFlare provides cloud mining on the following algorithms:

  • SHA-256, which is used to mine Bitcoins;
  • Scrypt, which is used to mine Litecoins*;
  • ETHASH, which is used to mine Ethereum;
  • X11, which is used to mine DASH.

Please note that to get your payouts, they are provided in Bitcoin (BTC) using the current exchange rate gotten from Coinmarketcap.com.

Calculating Estimated Profit Using Hashrate

You can also calculate profit by subtracting expenses from income. The income is made up of daily payouts of which its size depends on the Hashrate (Hash Rate is the speed at which a computer completes an operation in the Bitcoin code, it relates to Bitcoin). In order for you to calculate your projected 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)

The next step is to 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 figure you come up with is your projected profit.

What are the payment methods available?

Hashflare accepts VISA and MasterCard. For security reasons one-time purchase has a maximum of 3000 USD. You can only make just one purchase per day with same card. As an extra measure of protecting the customer, after buying hashrate using a credit card, the account gets a 14-day hold period, during this period there can be no withdrawal.

The results of the cloud mining at Hashflare show on the user’s accounts instantly after confirmation of payment and the user gets the first payout a day after the first block mined. You can decide to the withdrawal method most favorable to you from Bitcoin, credit cards and wire transfers.

In conclusion, Hashflare is one of the best cryptocurrency miners out there for those that want to invest in cryptocurrency mining. The best part is you don’t have to start huge with a minimum plan for as low as 1.20 USD with guaranteed payouts.

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