Founded in the year of 2015, HashFlare is currently the owner of mining farms division of HashCoins. This is a popular cloud mining company which has its location in the countries of Europe (Estonia) However, the exact locations have not been made available to general public knowledge to a wide array of security reasons.
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A number of people have opted for a wide number of mining companies. However, they have been scammed by many of them. Though there are a number of mining companies that have scammed people in the past, hashFlare cloud mining company is an exception to the rule. hashflare has earned a high reputation as the most transparent cloud mining company. You can be assured that it is not a scam. GM and Genesis Mining are considered to be the only cloud mining companies we want to write about. It is considered to be the largest and well-renowned provider of cloud mining for Eherum, Bitcoin, and several other cryptocurrencies.
The registration of HashFlare has been done with SEC for the Bitcoin mining fund.
It should be noted that this does not indicate that Hashflare is profit-making opportunity. This indicates that HashFlare Mining is honest in providing its services.
It is crucial to note that the mining contracts happen to be year contracts which indicate that they do not come with a maturity date. Thus, you are sure to continue mining and receiving the payments as long as the contract happens to be profitable.
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How does Hashflare Cloud Mining work
According to the website, Hashflare is considered to be a safe and easy option for purchasing hash power without the need for dealing with complicated software and hardware set up. Hashflare is known to specialize in developing the most reliable and effective mining rights which are provided to the clients for rent.
All you require doing is setting up the account with them with an eye to starting cloud mining. As you complete signing up, you need to fund the account via credit card, Bitcoin, wire transfer, Payeer and select the mining plan which is best for you.
Newbies can begin with 100 GH/s of gold. The mining contract for Bitcoin comes at a price of $15 for a year. This is beneficial in understanding the working of cloud mining and the chances of profits. In case you think it is not enough, you can also take the 1 TH/s Bitcoin mining contract into consideration which can be availed at a price of $150. The diamond Bitcoin mining contract happens to be the third and largest one which is available at a rate of $1600.
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What Coins Can You Mine with Hashflare Mining hardware?
Earning a wide array of coins has become much easier with Hashflare. It, however, depends on the contract you are going to purchase. Let have a look at the different coins and contracts as of June 2016 which you can mine. For X11 contracts, you will able to mine the coin of Bitcoin. For SHA-256 and SCRYPT contracts, you can consider mining the coins of Ethereum, Bitcoin, Zec, and Dash.
Scrypt, Ethash, SHA-256, X11, and Equinash
There is no doubt in the fact that there is no sense in purchasing contracts from Hashflare cloud Mining in case they do not render profits. Let’s perform an analysis of the profitability of different types of contracts, which are mentioned under the last section, i.e. X11 and SHA-256.
The factors which lead to the profitability of a contract are changing . The network difficulty, price of each coin and hash rates are changing daily. It is recommended to read our article on the mining profitability if you wish to procure more information about it.
Here, a payout of 0.027mBTC per 1MH/s can be expected daily along with a price of 13.6mBTC per 1MH/s. Hence, you can expect a breakeven after 500 days even.
Payout of 0.37mBTC per 1TH/s is expected daily along with the price of 0.25 BTC per 1TH/s. Hence, break-even can be expected after 670 days approximately.
It is essential to remember that for year contracts, a small maintenance fee will be deducted till they are profitable.
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How is HashFlare different from other Cloud Mining Providers?
As mentioned above, HashFlare contributes to being the most well renowned and largest provider of cloud mining. Mining has never been so pleasant and easy. A significant investment in the mining hardware is a prerequisite for miners. In case you go for cloud mining with Hashflare , you do not need to set up hardware neither you need to maintain mining stuff.
You will be mining online with hashflare and thus you do not require dealing with loud rigs which produce excessive heat. You do not even need to worry about mining pool fees.
One factor which stands second to none happens to be the fact that you are allowed to decide which coin should be mined with the aid of purchased hash power. Thus, you can split the entire hash power to a wide number of coins. There is no doubt in the fact that HashFlare is willing to provide to both big investor and average miner. Currently, there are above 310,000 members with HashFlare Cloud Mining company.
There are a number of bitcoin cloud mining companies that have been proved to be a scam in the past. Hence, one of the major concerns for people where whether HashFlare is legit or a scam. After an extensive research, it can be said that it is not a scam. It however does not indicate that you can earn profits by mining coins from hashflare. However, the company has gained high prominence in providing services with utmost honesty.
HashFlare is a great option for cloud miners who are willing to mine without the need to go via the stress of selecting bitcoin mining pool, software, hardware or setting up of a rig at the home.
Sign up with HashFlare Mining in order to reap all the benefits and enjoy the different features. You can check out the picture of GM farms in Estonia on the website.
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