Hashflare is a cloud mining service offered by Hashcoins, a reputable cryptocurrency investments company based in Estonia that is coming up fast. It was officially launched in 2015 after its public offer in 2014.
A closer look at Hashflare cloud mining review discloses it is fast gaining popularity. This is because it has made cryptocurrency mining available to all. The company’s ultimate goal is to make mining possible globally regardless of their status or age.
Are you familiar with cloud mining?
Well, here we are going to go deep and analyze cloud mining and Hashflare as one of the fastest growing and popular platforms of cloud mining.
What is Hashflare?
Hashflare is a company that deals with the trade of cryptocurrency and offers its’ customers easy and accessible cloud mining services. Apart from selling mining hardware, they also run it for you and all you need to pay is electricity bills and maintenance costs.
Sounds convenient, isn’t it?
This cloud mining company displays a detailed portfolio of their clients and also displays their physical location. This has eliminated trust issues with users of Hashflare. With Hashflare mining, you are guaranteed a low startup capital, fewer risks and minimal maintenance cost.
Decentralization is made possible by mining with Hashflare since you are allowed to choose a mining pool that you prefer among the many pools available. This company has earned itself a reputation among the major cloud mining companies over time.
- Instant withdrawals: If you ever need to make withdrawals from Hashflare, be advised that your withdrawals will be instant.
- No hidden charges: Every single transaction fee is made available so that you can view it. Hashflare has no hidden fees and commissions. What you see is what you get is Hashflare’s mantra.
- Decentralized: You can choose to mine from a mining pool that you prefer. Decentralization increases your profitability since you have the choice of where you want your Hashrate to mine in.
- Fast connections: Mining begins as soon as your payment has been verified. You get to receive your first payout within 24 hours.
- Detailed dashboard: Hashflare’s dashboard is detailed and orderly. Mining information is presented on the dashboard in an organized manner so it’s really hard to miss out important information about Hashflare.
How Does Hashflare Work?
It is basically divided into three main parts:
This is a very important component in Hashflare cloud mining. It houses many miners in their datacenters. There are several types of hardware designed especially for mining. We will look at a few of the hardware:
- Hashcoin SCRYPT: This is a hardware which is used to mine scrypts algorithms.
- Hashcoins SHA-256: Enables mining of SHA-256 algorithms.
- GPU rigs: This type of hardware enables mining of Ethereum, Zcash and dash cryptocurrencies.
- Mining pools:
Since Hashflare has a number of mining pools. You get to choose the most profitable mining pool to invest your Hashrate. These are the types of mining pools:
- Slush: This mining pool is among the first pools available, it’s one of the largest. It’s also popular among miners.
- BW pool: Based in China and mines about 5% of the available blockchains.
- ViaBTC: A mining pool which has been existence for the last one year but mainly it targets Chinese miners.
- BTCC: Another Chinese mining pool and commands at least 7% of all mining blocks.
- BTC.top: This is a private company and unfortunately public access is denied.
- Antpool: It is owned by BitMain and is based in China. It mines about 25% of blocks.
This is the final stage of cryptocurrency mining. The mined cryptocurrencies are shared among all the users of this mining platform. The rewards of each miner are determined by their share of hashrate in the platform.
After payment has been verified, you get to start mining immediately and the rewards from this mining are availed to you 24 hours later. Then payouts are done on a daily basis after you have received your first payout.
All Types of Cloud Mining
Sometimes to understand the platform fully you have to make a comparison to see if it’s a perfect option for you. We will explore a few of mining types below:
This is one of the earliest cloud mining platforms. It offers Bitcoin cryptocurrency mining by a datacenter which has been available longer in this industry. They offer you the customer with Rigs for hire hence reducing your initial capital.
This platform has installation photos and videos available which help to confirm their authenticity. Genesis cloud mining is a long-term investment as it has a lifetime mining period.
Its mining farms are located and spread out all over for safety reasons.
This platform has been developed from scratch by miners for the community of miners. There is no official information about the ownership of this company but its website has been in existence ever since 2014.
Besides that, it has been operating for about three years making it seem like a reliable business to its’ customers.
It provides a special platform for Rig owners and Rig renters making business between the two as smooth and as efficient as possible. In case of a discrepancy in business funds, Mining Rig Rentals acts as a go-between to make sure you receive what you paid for. Another advantage is that this platform offers free pool selection.
It was founded in 2013 and is one of the earliest and existing cloud service providers online. The company provides cryptocurrency mining for SHA-256 and also scrypt algorithms that follow the difficulty of mining of Bitcoin and Litecoin.
They offer short lease contracts ranging from 24 hours to 5 years. Currently, they are offering cloud mining services for about 21 cryptocurrencies and customers can choose a payout currency of choice from the 21 available.
A Hashflare calculator enables you to calculate the rewards that you gained from mining, this lets you know how you are faring.
Do you want to know if you are merely breaking even or earning real-time from mining?
To know how much profit you earned, deduct all the expenses you incurred from the rewards. Rewards include daily payouts which are determined by the size of your hashrate. Include the hashrate in any of the following calculators:
- Litecoin: For scrypts algorithm.
- Ethereum: Make sure it’s set to zero, used for ETHASH.
- Zcash: Set it to zero first, used to calculate EQUIHASH.
- Dash: Calculates for X11 set it to zero.
- Bitcoin: Calculates for SHA-256.
Deduct the maintenance cost and electricity charges. Use the electricity fee below for each of the following algorithms:
- For SHA-256 use 0.0035 USD/10GH/s.
- 005 USD/1 HM/s for scrypts.
What you will be left with after all these deductions i.e. electricity fee and maintenance cost is your profit.
Fees and Pricing Schedule
Hashflare fees include electricity fees and maintenance costs. Like other mining platforms, Hashflare has a daily maintenance fee. What this really means is that for every day that you have a mining contract, you will be charged maintenance cost and electricity charges before you receive any payout.
Daily mining fee is constant regardless of the amount of cryptocurrency you purchase. This daily fee is in USD value. You can also view the coins you mined on their dashboard.
Mining will require energy and human effort for the maintenance. Hashflare tries to cover these costs by issuing its’ users with electricity and maintenance fees. These fees are calculated by miners’ type of contract and their hashrate.
Instead of being billed for the maintenance and electricity fees through an invoice, the fees are deducted from your balance during payout.
Hashflare Withdrawal Information
In order to receive bitcoins in your wallet, you have to start by making a withdrawal. Every 24 hours you can make one withdrawal per currency. In order to make it follow the steps described below:
- Select dashboard on the user panel.
- On the top right corner click on the withdraw button.
- Click on withdraw button after you have chosen the amount to withdraw.
- You will receive an email from Hashflare, click on the withdrawal confirmation letter.
You can withdraw any amount you want from Hashflare but note that rules and regulations apply. Take a note of the following withdrawal rules:
1) Every withdrawal will be subjected to a transaction fee. The transaction fee will be paid for processing and confirmation on the blockchain.
2) The system does not provide automatic withdrawals. You must place a withdrawal in person and confirm your withdrawal. Withdrawals will be facilitated as soon as payment is verified. Ideally, you should receive the coins in an hour’s time.
Hashflare enticing features attract more miners so Hashflare partners are assured of constant earnings. Our partners are also assured of the following:
- 10% commission: For each purchase made by a client you attracted, you earn a 10% commission.
- Loyalty: Partners with a good traffic get to benefit from the loyalty program. They get to order and access promotional materials.
- Instant withdrawal: The partners enjoy faster withdrawals.
- Detailed analysis: Partners get to enjoy a detailed analysis from established publishers.
- Advertising materials: They empower the partners with promotional items.
- Reliability: The partners are assured of making profits from the platform.
- High standard support: Hashflare support team aims at solving even the hardest of technical anomalies.
There has been a number of scam accusations directed at Hashflare which are not necessarily true. Hashflare could be slow in awarding bitcoins but it is not a scam definitely.
Some have accused Hashflare of sending lower bitcoins despite the amount which was withdrawn. However, it’s important to note that profits defer depending on the level of mining difficulty.
A user reported having received his bitcoins timely so definitely Hashflare is not a scam! This particular user gave Hashflare positive feedback. Several users responded positively after lodging complains since they did receive their rewards after a while.
The popularity of Hashflare among users has risen over the three years that the platform has been in operation. The ease of mining from Hashflare has attracted a number of miners to their platform.
Miners prefer to mine with this platform since its’ legitimacy is beyond doubt. They have provided users with their physical location and a detailed dashboard attracting miners of all walks of life.
Their instant payouts make Hashflare popular with users. Users are attracted to Hashflare because as soon as payment has been verified, The payout is done immediately. All these factors have contributed to Hashflare’s website popularity recently.
Hashflare.io User Experience
Users were mesmerized by services they received from Hashflare. Payments are made on a daily basis. Customer support is fast in response making Hashflare a highly recommended platform.
Although several users sighted slight delays in receiving payouts, generally they were happy that at long last their issues were handled professionally by the staff at Hashflare.
Other users who had been mining with Hashflare also encouraged new miners who seemed to have a few issues to be patient. They advised new entrants to be patient since resolving their issues could take time but assured them that they will be sorted out.
Hashflare Vs Genesis
Hashflare is a crypto mining company which offers its users with easy and accessible cloud mining services. They also sell and manage mining hardware.
On the other hand, Genesis is one of the oldest cloud mining companies. The company enables mining by the use of a data center. Genesis mining farms are located and spread out all over for security purposes.
Make sure to read the full comparison, as the knowledge of main features will help you to make a wise decision.
Hashflare Redemption Code
Hashflare has a number of top-rated free promo codes. They include:
BCMCENTER-3: It’s the newest promo code, enter this code to get up to 3% discount when buying your hash rate.
B48AAE75-HF10: Offers a 10% discount on cloud mining.
B48AAE75: Will get you up to 10% on your first order.
From the Hashflare cloud mining review above, we have been able to discern that Hashflare is a very reputable platform to conduct your mining. The ease and flexibility of mining from this platform have made its website very popular.
Partnering with Hashflare will bring a number of goodies to you. Consider joining their team to benefit from the partnership. Also, we have seen that calculating profits you earn on Hashflare mining is not complicated at all.
If you redeem the promo codes you will earn free bitcoins. Hashflare works in a simple and straightforward manner. The first payout is done 24 hours after payment has been verified. After that, payouts are done on a daily basis. To calculate the profits that you made, you will subtract the expenses that you incurred from your earnings.