Mining bitcoins, though tasking and expensive, is one of those activities in the cryptocurrency space that are most lucrative. Unfortunately, cryptocurrency miners usually face major challenges, especially energy depletion among other costs. This is where HashFlare comes into play.
With over 3 years of skin in the game, HashFlare hopes to achieve a rather large scale goal of establishing the adoption of Bitcoin as an economic system as well as a currency with its mining services. It offers profitable investment opportunities to customers in the industry by leveraging unique cloud mining capabilities, thereby eliminating maintenance, configuration and procurement costs.
With a team of experts experienced at crypto mining, including Sergei Potapenko (the Founder and CEO), Nikolay Pavlovskiy(a seasoned VP and Business Developer) and Renna Reemet (the lead developer) among others, it has enabled cloud mining services that make mining not only affordable to all types of users, but also easily accessible with minimal technical investment required.
Let’s look at some of HashFlare’s benefits.
Benefits of HashFlare
This is a great feature especially for beginners who are getting started with Bitcoin. Why? You ask! Well, imagine working so hard and earning bitcoins, but it takes ages to get them in your pockets. No one understands that like HashFlare! The company has made the process simple, and all you need to do is choose the amount you wish to withdraw and it will immediately reflect in your wallet.
HashFlare makes cloud mining a worthy investment with this feature. Every time you make a transaction you can rest assured that you are in the right hands as you will not incur any hidden fees in the process. Transparency is one of its principles!
Again with HashFlare, managing your cloud mining investment is as simple as logging into your account and viewing the mining information as it happens in real-time. This way, you do not only get to be in control but also enjoy easy access from anywhere in the world.
When it comes to picking a pool for your cloud mining, the best advice is to look for the most profitable pool that goes well with your purchased hashrate. The good news is that there is a variety to pick from, plus you can look around to see what suits you.
Unlimited term contract
With no expiry date and no time limit, you can set up your HashFlare for life allowing you to continue making profit day in day out. For as long as the mining activities are profitable, you get payouts that are paid in crypto currency. Plus if you just want to give it a try for some limited time, you can check out the one year contract that is available.
Top 10 questions asked about HashFlare
What is HashFlare?
HashFlare is a cloud mining company that is part of Hashcoins(a cryptocurrency company with a variety of products and services including mining and equipment maintenance). It goes without saying that it takes a lot of time and resources to set up a mining business for your success.
For most cryptocurrency enthusiasts, Halfshare is a solution to take advantage of since it aims to make mining services accessible and affordable. Since 2015 it has mined bitcoins, Zcash, Ethereum and Dash and continues to reach out into other markets to provide value.
How does it work?
HashFlare, like other mining companies, conducts mining operations and then pays out the profit to its customers. It’s really that simple. After paying a fee, you get a lifetime membership that lets you earn depending on the hash rates you own in the company. With key features that allow you to select a profitable pool, instant payouts and the reliability of powerful computing, you can make great returns on investment on every operation.
How is it different from host mining?
Well, the biggest difference between host mining and cloud mining is that with cloud mining, your time frame is unlimited, while host mining comes with a limited timeframe. This, therefore, means that you get to own part of the total hashrate of HashFlare’s equipment.
What cryptocurrency can I mine with HashFlare?
There are a variety of algorithms to choose from with HashFlare and these include:
– X11 that you can use to mine DASH
– SHA-256 used to mine Bitcoins
– Scrypt, a Litecoins mining algorithm
– ETHASH an Ethereum mining algorithm
You also have an option of getting paid in Bitcoins by taking advantage of HashFlare’s currency exchange rate.
How long does the HashFlare contract last?
You can easily get the Bitcoin mining contract that is indefinite meaning you only cater for electricity and maintenance fees. However, if your earnings get lower than the maintenance and electricity fees, HashFlare will pause the mining process and only resume if the revenue starts pouring in within 21 days. This is obviously to protect your investments in a volatile cryptocurrency industry. In addition, ETHNASH and DASH contracts are made to last for a whole year without maintenance and electricity fees, making it a worthwhile deal.
Does HashFlare accept credit cards?
Yes, it does! HashFlare accepts both Visa and Mastercard. To keep you protected, there is a 14 day withdrawal hold period. Also, every single purchase that you make through HashFlare has a limit of 3000 USD, to enable only one purchase per card per day.
How do I verify my purchase?
Before making a purchase, you first have to verify your card. This is all done for a good reason, which is to keep your personal details secure online. You will be surprised to know that the card verification process is simple and only has to be done once.
Just follow these instructions:
– First, you buy your hashrate using your selected credit card. This process will take you to the UniversePay hosted page.
– At this point, you enter all the points and check out
– You will then be taken to your bank's verification process where you will enter the codes to the card.
– Your card will then be charged with a sum whose notification you might receive online or through SMS depending on your bank
– You can now complete the verification by entering the security code that comes with your bank’s notification. Voila! you have verified your card.
How do I calculate estimated profit?
Depending on the hashrate you buy, you will get daily income that you can easily estimate by choosing from this variety of calculators:
– For DASH use X11
– Ethereum miners use ETHASH
– Bitcoin miners use SHA-256
– For Litecoin use Scrypt
As a rule of thumb in business, your profit comes after the expenses so remember to set all the power values to zero before calculating your estimations.
How do I make a withdrawal?
Making a withdrawal on HashFlare is pretty much straightforward. But before making one, keep in mind that every withdrawal you make is subject to a transaction fee that is paid to the blockchain in order to confirm and process transactions. Secondly, you have to confirm and request each withdrawal. The system does not provide automatic withdrawal.
To make all this a reality, simply follow these steps:
– Go to the dashboard
– Click on the “withdrawal” button
– Now chose the amount you want to withdraw and withdraw using the “withdraw” button
Keep in mind that you can only make one withdrawal per day per currency depending on your hashrate limit.
How do I choose a pool allocation?
Well, first of all, each pool comes with a certain total payout, so it’s in your best interest to have pools with the highest profit margin according to your hashrate. With a variety of pools that HashFlare equipment is designed to work with, you can select your pool and allocate a hashrate to start mining. Since the accounting process happens daily, you will be able to change pools only once a day to get payouts generated from each pool that you use to mine your Bitcoins.