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HashFlare Cloud Mining Service – Profitability, Rates, Setting-Up

Hash Flare cloud mining serviceHashflare is a cloud mining service you can buy a share (contract) in with a minimum investment (starting from $ 2.2) and gain a passive income in proportion to the rented capacity.

Prices for all Hashflare cloud mining contracts:

  • Bitcoin – $ 2.2 per 10 GH/s
  • Liteсoin – $ 7.5 per 1 MH/s
  • Ethereum – $ 2.2 per 100 KH/s
  • Zcash – $ 2 per 1 H/s
  • DASH – $ 3.2 per1 MH/s

All the plans are available in a user account, through registration on https://hashflare.io/.

Note: The DASH plans are the least profitable of all five options, while all other plans are the best on the market. Bitcoin (SHA-256) is top-ranking, although in view of a recent Ethereum (ETHASH) increase in the rate, it has become extremely challenging.

Cloud mining gives everyone an opportunity to earn cryptocurrency (Bitcoin, Litecoin and other altcoins) without any special technical knowledge and significant investments in special equipment and its maintenance.

Let’s start with the key point – Hashflare is a reliable and proven cloud-based service you can safely invest money in, since it is tested by hundreds of thousands of active users. The service has its own data centers in Iceland and Estonia, where its up-to-date equipment (ASIC and GPU miners) is installed and all necessary conditions for the operation are created.

Service features:

  • SHA-256, Scrypt, Etherhash and X11algorithms-based hashpower is purchased for a year, with the possibility to increase the hashrate at any time within the contract (upon each payment a new contract is concluded for a specified period).
  • If you buy Scrypt-based hashrate, then LiteCoin will be mined and then it will be automatically exchanged for Bitcoins and you will receive your income in Bitcoins. After that, the funds can be withdrawn to your personal wallet or to an exchange (we do not recommend keeping your cryptocurrency there for a long time).
  • Mining is provided through several pools. It is possible to choose a pool for mining or distribute your hashpower among a number of pools.
  • There is a possibility of reinvestment. This option will be advantageous to those who are going to make long-term investment into cryptocurrency.

And the most important thing to consider – Hashflare plans are among the most favorable in the market! Usually hashrate is sold at basic prices, but sometimes there are discounts and promotional deals (although discounts on top-rated algorithms are usually small). At the moment, it is difficult to find cheaper hashpower in the market, and it is impossible to find it among reliable, time-proven services.

Content:

  1. Advantages and disadvantages of Hashflare cloud mining
  2. Plans for different algorithms
  3. Getting started with HashFlare
  4. How to properly configure pools on HashFlare?
  5. Funds deposit and withdrawal
  6. Reviews about HashFlare

Advantages and Disadvantages of Hashflare Cloud-Based Mining

Hash Flare - Ethereum cloud mining serviceHashFlare.io provides its equipment for earning the following crypto currencies:

  • Bitcoin (BTC)
  • Litecoin (LTC)
  • Ethereum (ETH)
  • Zcash (ZEC)
  • Dash (DASH)

The service leases the computing capacity of its equipment for passive earnings. Company’s remuneration includes rental payments and service charges (applicable to certain types of contracts). No fees are charged for funds withdrawal from exchange (only a standard Bitcoin network fee for a transaction).

Advantages of the service:

  • Hashflare is a cloud service from HashCoins (a company registered in Tallinn, Estonia, with its data centers in both Estonia and Iceland). Over the years, it has been engaged in the assembly and sale of equipment (ASIC), as well as software development for crypto-currency mining;
  • High yield – your investment pays off within 4-6 months and then you get your net income;
  • Minimum investment of only a few dollars (check the exact cost after registration at the time of purchase);
  • You can add funds to your account using a Bitcoin wallet, bank card or WebMoney;
  • There is an opportunity to reinvest your profits;
  • Instant profit withdrawal with the deduction of a fee (0.0002 BTC) to your Bitcoin wallet;
  • Flat fee and no hidden payments – everything is transparent;
  • User-friendly interface of your account, detailed schedules and earnings reports, as well as a calculator gathering profitability statistics in the project;
  • Helpful client support;
  • Opportunity to participate in a referral program available for everyone;
  • 5 basic plans for hashpower renting;
  • Gaining profit starts within 24 hours from the date of purchase (sometimes up to 48 hours);
  • Independent hashrate distribution across different pools;
  • Detailed statistics;
  • $ 2.2 for a minimum hashrate package (though it should be taken as the first step, since it doesn’t make much sense to invest only $ 2).

Disadvantages of the service:

  • Automated payments are unavailable – each withdrawal has to be requested manually;
  • Occasional website slow downloading – even when surfing through the pages, you have to wait 3-5 seconds. UPDATE: since December 2017, the site performance has been improved, and at least as of January 2018, the problem is no longer observed.

Plans for Different Algorithms

The system offers a choice of five plans for hashrate renting – five mining algorithms for different coins. Each of them is accompanied by a detailed description. You can buy the following options:

  • SHA-256. This is the most favorable plan (as of the beginning of 2018). The cost is $ 2.2 per 10 MH/s. The service charge is 0.0035 $ /10 GH/s /24h. Automated revenue in BTC is available.
  • SCRYPT. Its cost is $ 7.5 per 1 MH/s. The standard contract is concluded for one year. The minimum hashrate is 1 MH/s. Automated revenue is provided in BTC. The service charge makes up 0.005 $ / 1 MH/s / 24h.
  • ETHEREUM. The price is $ 2.2 per 100 KH/s. No service fees are charged, while the contract is also valid for 1 year. Automated revenue is provided in ETHEREUM currency.
  • ZCASH. The cost is $ 2 per 1 H/s. There is no service fee, and the validity period is 1 year. Automated revenue is provided in ZEC cryptocurrency.
  • DASH. The cost is $ 3.20 per MH/s. It is bought for one year with no service fee. Automated revenue is provided in DASH cryptocurrency.

Sometimes, the service doesn’t allow purchasing new contracts, provided that at the moment the computing capacity upon them is completely sold out. When the capacity increases (new equipment is added), the plans go on sale again (you need to monitor offers on the site).

Cloud Mining Profitability Calculator

After the registration, you can calculate your return on investment using a HashFlare calculator. The calculation is available for mining BITCOIN, ETHEREUM, LITECOIN and DASH. When calculating, effective rates and the current difficulty of the selected blockchain network are provided.

Getting Started with HashFlare

Getting Started with HashFlare

As usual, you need to start with registering, but for your peace of mind we recommend creating a personal BTC wallet even prior to the registration, so that you will be able to withdraw funds earned by mining.

When registering, you need to routinely complete a standard form and then provide your confirmation via e-mail.

Choose a plan and then determine the amount of hashpower you are ready to buy, as well as the funds required for the purchase.

You can pay for the hashpower in several ways. For example, it is possible to pay with bitcoins, but bank card payments are also accepted (which is more familiar for many people).

Then, you are required to fill in details of the wallet for the crypto currency you want to mine, and thus you need to create your personal wallet. When all these actions are performed, your “mission” is reduced to monitoring daily accrual of funds and to their withdrawal to the wallet.

Our recommendations! We would like to say a few words about whether to withdraw or not to withdraw your funds to the wallet. Many experienced miners consider their fast withdrawal of the mined cryptocurrency their mistake. Sure, the temptation is great, especially when this is the first money you earned with the service. But if you are not scarce of money, it can be smarter to refinance your profits in additional hashpower, thus increasing your overall hashrate and ensuring a more significant income in the future. However, this is just a recommendation, and it is up to you to decide whether to take it or not.

Visual instruction:

After registration, you will enter a control panel with a lot of options. First, you need to buy hashpower. To this end, click on “Buy hashrate” in the menu to the left:

Then choose hashpower for purchasing, for example SHA-256 or SCRYPT. After that, a page will open, where by using a special slider you need to specify how much hashpower you will take:

Select the required amount of hashrate and click “Next”. Then you will get to a page with the details of your order. Click “Choose payment method” on the bottom right and choose how you will pay:

As you can see, there are not so many payment options, yet the main thing is that you can pay with a bank card, which is very convenient for many people.

Once you paid for your order, the hashpower will immediately get to your account and begin to generate your revenue. The first accrual to your account will be delivered after 00:00 UTC. Sometimes, the first accruals appear only in 24 hours, but this doesn’t matter much.

How to Properly Configure Pools on Hashflare?

The pools have to be configured based on their current performance. Choose three most powerful pools from those available on HashFlare and place the sliders proportionally to their hashrate. To maintain the maximum profit, it is recommended to correct them every 7 days for SHA-256 and every 3 days for Scrypt.

To maintain the maximum profit, it is recommended to correct the configuration:

  • for SHA-256 – every 7 days
  • for Scrypt – every 3 days

Configuring Pools for Bitcoin Mining Using SHA-256 Algorithm

At the very beginning, many users are puzzled by the questions, which pools are the most profitable and how to set up pools to be more profitable?

Here is a source where you can get data on SHA-256 pools rather than waiting for a response from the support. As you can see, there are much more pools than it is available in your account, so select the largest of current hashrates, comparing it with a diagram on the website.

Configuring SCRYPT Pools

Configuring SCRYPT pools is similar to that of SHA-256. Here is a link to the pools – https://www.litecoinpool.org/pools

Configuring ETHEREUM Pools

Configuring ETHEREUM pools is similar to the previous ones. Search for the pool statistics here – https://www.etherchain.org/charts/topMiners

Example of Configuring Pools

  1. SHA-256
  2. Scrypt
  3. ETHASH

As of the beginning of 2018, we no longer notice a significant difference in yield when correcting pools ratio compared with the default settings, so you can skip this point.

Funds Deposit and Withdrawal

The system provides ample opportunities to replenish your account. When buying a new contract, you can pay for it using:

  • funds on your HashFlare account;
  • crypto currency in your personal BTC wallet;
  • bank transfer through a branch of your bank;
  • your debit card of any payment system;
  • your credit card of any payment system;
  • WebMoney;
  • Payeer.

Usually payments are made instantly, but sometimes there can be delays of up to 2-3 hours.

The service allows withdrawing money only to your Bitcoin wallet, and the withdrawal can be performed only manually. To get your money, you need to specify the address of your personal wallet, to enter an appropriate section of the menu and to specify an amount of funds for withdrawal. If you have funds sufficient for a minimum withdrawal, a massage with an active link will be sent to your e-mail. You need to follow the link and then the money will be credited to the account. It can take from 15 minutes to 12 hours – the time depends on the Bitcoin blockchain (BTC) capacity.

The withdrawal of funds on HashFlare has some peculiarities. You cannot set up automated payments: each time you need to manually confirm your request. In addition, the Bitcoin network charges a fee of 0.0002 BTC for each withdrawal. Also, the withdrawal is temporarily blocked for users who changed their wallet number – this is done in order to protect them from unauthorized access to the account. The period of “freezing” is 2 weeks. After this time, a new account will be automatically available for withdrawal.

Detailed Information on Refilling Balance and Receiving Funds – Terms, Fees, Limitations

Adding funds (purchasing hashpower):

  • BTC transfer;
  • bank transaction;
  • credit card;
  • WebMoney;
  • Payeer.

Withdrawal of funds (receiving income on your wallet):

  • withdrawal fee varies from 0.0002 BTC to 0.0006 BTC (it does not depend on the amount, but only on the Bitcoin network capacity);
  • the withdrawal to wallets is provided within 24 hours, but in fact the funds come in 30-40 minutes;
  • there is no amount limitations;
  • there is limited withdrawal frequency – once a day;
  • for security reasons, withdrawal confirmation via e-mail is required (as well as for changing a wallet).

Reviews About Hashflare

Based on the long-term experience of working with this service, opinions of hundreds of our friends who invested in it and a lot of reviews about HeshFlare on various websites and discussion boards, we can state with certainty that this is a reliable and stable project with a transparent work system, where Bitcoins mining is available to everyone without the need to have any technical knowledge about the blockchain technology.

Proceeding from reviews, many investors and bloggers have been investing in this project almost from the moment of its launch and there are almost no unsatisfied investors among them. Provide feedback about Hashflare and your earnings from cloud-based mining here, and share the article if you find it useful.