What das HashFlare Experience mean?
Take a look at our report on our Hashflare (Link from the editor: www.hashflare.io ) Experience. Here at Coin Report, we test different cloud mining vendors to give our readers a detailed and personal insight.
In our tests, we have used our own funds to make deposits with the various providers, providing a first-hand experience.
This article will give you a clear insight into our strategy, showing which suppliers are worth recommending.
HashFlare ExperienceIntroduction – What is Cloud Mining?
Before we begin breaking down our experiences with HashFlare, we’d like to provide you with a brief introduction to the topic of cloud mining.
Wondering what cloud mining is? Bitcoin Blockchain is a decentralised cash reference created by so-called mining providers.
Mining providers such as Hashflare (Link from the editor: www.hashflare.io ) provide the network with computing power that keeps the entire system running. Nowadays, you have the option to buy Bitcoins directly from a stock exchange.
You can also buy corresponding computing power from a cloud mining provider, which produces your Bitcoins daily.
When you buy cloud mining, you are part of the cryptocurrency creation process, receiving a piece of the profit every day.
Depending on the difficulty level and provider, you can look forward to lucrative results. For this reason, we’ve tested HashFlare and provided a report to let you know how we got on.
HashFlare Experience – How do I earn money with Cloud Mining?
With cloud mining, any monies earned come in Bitcoin currency form. If you wish to make true profits from your work, you will have to sell the mined Bitcoin later on a stock exchange.
As you can see from our report, Bitcoin mining is currently more profitable than it ever has been before. In any instance, however, you should bear in mind that cloud mining involves risk.
Simple rules for strategy apply. Never invest more capital than you are always willing to lose, in the case of an emergency.
Nonetheless, we are convinced of the benefits of cloud mining and the ability to generate an impressive income.
HashFlare Experience – Who should utilise HashFlare mining?
Anyone is free to buy mining at HashFlare Cloud Mining. You can generate different cryptocurrencies for hash flakes, including Bitcoin and Ethereum. To get an idea of true profits possible, you should seek tax information and advice on the amounts of currency involved.
Depending on the country you live and work in, and income situation, it makes sense to take a longer look at the topic.
This provider offers its services in 11 different languages, which can all be found on the provider's website itself.
You don’t need any technical knowledge or even a wallet to begin with HashFlare mining. Generated Bitcoins will be stored in an internal wallet with the provider until you request a payout.
HashFlare Experience – Registration in 3 steps
Screen 1 → Click on link
Screen 2 → Registration form
Screen 3 → Select and order HashFlare
HashFlare ExperienceWhat happens after I make an order?
Activation of the computing power: After the booking or receipt of money, you won’t immediately receive your mining results.
This will usually be credited to you on the following day. The company distributes the results of the previous day once a day.
Bank Transfer: If you opt to pay by bank transfer, please allow around 4-7 days for processing of payment. If you haven’t been credited with a hashrate after 7 days, it’s recommended you contact the support team by email.
You should expect to receive a response within 4-7 days.
Credit card payment: At HashFlare, you can also make a payment by credit card. If using this method, you should have the telephone number of your card provider or bank ready.
At the end of payment processing, you will be asked for a specific code to complete payment. This code will only ever appear on your credit card statement.
Generally, you can contact your provider by phone if needed. This code is crucial in being able to complete the order process.
Also essential is an active 3D secure registration with your credit card provider. If you’ve any concerns about credit card payment, check with your provider before attempting purchasing. After entering the code, your hashrate should be activated within 2 hours.
Payment via Bitcoin: Unsurprisingly, HashFlare offers you the chance to make payment via Bitcoin. You can expect to pay transaction fees for this.
You will be shown a Bitcoin address and an exact amount on the payment transfer screen.
Activation only takes place if you make transfer amounts 100% correctly. As soon as you have made the sufficient transfers, you will normally receive your hashrate within 2 hours.
HashFlare Experience – Our Result
As we mentioned in our introduction, we purchased from HashFlare Mining with our own funds. The following screenshots show our results of relevant transactions:
39 TH/s SHA-256 Bitcoin Mining with a purchase price of 5,850.00 USD.
3.9 TH/s SHA-256 Bitcoin Mining with a purchase price of 585.00 USD.
In total, we have a hashrate of 42.9 TH/s at the price of 6,435 USD. Essentially, we always recommend SHA-256 Mining when purchasing Bitcoin Mining. This is the most effective form of mining with special apparatus, so-called ASIC miners.
Screen 1 → History/Log
In our screenshot, you will see the results and corresponding deductions due to ongoing fees from the provider. The current yield per TH/s is 0.00015408 Bitcoin (as of 17.12.2017). This corresponds to a result of 2.51 Euro per TH/s (at the current exchange rate 16,353.19 per Bitcoin).
Concerning 42.9 TH/s, we have seen a yield of 0.00630563 Bitcoin (103.11 Euro) per day, before deducting costs.
After deducting 0.00077027 Bitcoin (12.59 Euro), a total of 0.00553536 Bitcoin (90.52 Euro) remain. In our opinion, this represents a very good result for a cloud mining provider.
In addition to a detailed insight into its history, HashFlare offers its customers an overview of performance, results and a forecast based upon the current exchange rate:
Based on the current trends and results, we can recommend this vendor without any hesitation. Despite the one-year duration of contracts, we believe the results yielded make this a worthwhile option.
In the following sections, we will go deeper with insights into our HashFlare experiences.
Important questions and answers regarding HashFlare
What is the contract duration?
The contracts with cloud mining provider HashFlare run for exactly one year. However, you can purchase more contracts with prospected Bitcoin.
Each subsequent purchase via credit or with new capital is treated as an individual and separate contract that runs for another full year from the time it is taken out.
The company offers a practical reinvest function for this purpose. With this feature, your daily results are automatically utilised to purchase more processing power.
Can the company HashFlare terminate contracts prematurely?
According to the company’s terms and conditions, this case only occurs if the corresponding cryptocurrency is no longer profitable in mining operations.
If the trading price of the cryptocurrency is lower than the cost to produce, mining is temporarily suspended.
The company has now installed 21 days of leave, during which time the mining is halted. Should the mining become profitable again in the course or at the end of this period, HashFlare restarts the service and the contract continues.
If the mining activity is not restarted within this period, the contracts are then automatically terminated. This or similar clauses can be found at almost all cloud mining providers.
HashFlare Experience – Can you visit the headquarters of the company?
The company operates out of facilities in Estonia. Depending on how much mining you buy, or how many customers you bring to the company, you may be given the opportunity to visit.
For this purpose, it’s advised you contact the company of your own volition. HashFlare is generally very open when it comes to discussing this prospect. You can also find pictures of the company and its facility on the website.
Which languages are the website and support functions available in?
The company’s support team will answer direct questions in English. The website and the HashFlare system is available in English, German, Polish, Italian, Spanish, Portuguese, Greek, Turkish, Japanese, Chinese and Georgian.
HashFlare Experience – How do I deposit money?
Based on our experiences at the time of testing, the following payment methods are accepted:
- Bank transfer
- Credit card
- Credit balance transfer
HashFlare Experience – How many customers does the provider have?
Unfortunately, we do not know any specific figures, but the company is known to have well over 100,000 customers.
The company has been in existence since 2015 and is sure to grow daily by several, perhaps even thousands of customers.
Who exactly operates HashFlare?
HashFlare is the Estonian-based company HashCoins LP. According to the company, HashCoin not only offers mining, but also several products in the area of blockchain technology.
The company operates very openly and transparently via its Facebook page, its Twitter feed and even operates an Instagram account. It’s a very tangible company. The website of HashCoins can be found here.
What do I need to participate?
You don’t even need a wallet to begin. However, you should get yourself clued up about the area of mining of cryptocurrency. Taxation of income should also be investigated before buying from the provider.
How much mining you buy is up to you. You can make your first purchase for as little as $10. The company offers everyone from the newcomer to expert the same conditions and service.
Thanks to our own HashFlare experience, we know that the provider is worthwhile in both small and large value amounts.
Is there a coupon code?
There is always a current promotional coupon code, which you will find on this page. If the promo code or voucher code is no longer valid, please get in touch with us directly. We’ll send you the new code as soon as possible.
HashFlare ExperienceHow much can I earn with HashFlare?
The yield from mining depends on many different factors. It is not possible to make a full and final estimate here. On this page, you can get a rough estimate of how much your yield per TH/s could be.
However, it’s worth remembering that mining difficulty and profitability can change by the hour. The advantage of mining is that if the price drops massively, you will usually receive more mining the following day.
This, of course, can work in the opposite direction as well. In our opinion, mining is always a good addition to the actual purchase of cryptocurrencies.
Is there a minimum amount required for Bitcoin Mining?
The smallest amount at the moment is 2.20 USD for 10 GH/s Bitcoin Mining. However, due to the small fees associated with Bitcoin or credit card purchases, we suggest you purchase at least 1 TH./second. Ultimately, it’s your own decision.
What fees are involved?
You only have to buy your mining contract once. There are no further charges. The company will take a minimum payout amount based upon the current fees of the Bitcoin network.
In our opinion, however, these fees are very fair and the company doesn’t seem to be out to make an unfair profit against you.
The approximately 25% amount is a reasonable fee when you consider the amount of maintenance and electricity required for mining operations.
Which cryptocurrencies can be generated?
You can have HashFlare Bitcoin generated with SHA-256 and the Scrypt algorithm. As mentioned before, we recommend using the SHA-256 only.
In addition to this, the provider also offers Ethereum and Zcash Mining. At the moment, we recommend putting a focus squarely on the mining of Bitcoin.