Pros
- Payouts made on a daily basis
- Payout minimum is low
Cons
- Doesn't offer many cryptocoins to mine
- Has no mobile apps
What is HashFlare?
HashFlare is a new cloud mining service, where you can make money mining for cryptocurrencies instead of buying them. Cloud mining is a great low cost way to get started in the cryptocurrency world, with none of the mechanical or electrical costs and upkeep. You don't need to know how to create a mining rig or what is needed to run one. Just sign up on their website, pick your contract and begin mining. They even guarantee 99% uptime.
The history of HashFlare
HashFlare is a department of the HashCoins team of cryptomining experts. HashCoins develops cloud mining software and maintains mechanical and electrical equipment in datacenters. They have dealt with Bitcoins since the start and has over three years experience mining cryptocurrencies. HashFlare is great for everyone from beginners to experts, regardless of location, technical knowledge or experience.
Data Centers
HashFlare uses their own data centers, based in Estonia, with 24/7 maintenance provided by on-site support. Power to the centers is provided by independent power grids, with separate generators and a backup batteries in case of failure. They are kept at 20-24ºc, humidity controlled, air conditioned and all up to industry standards. There is 24 hour surveillance, sensors, on-site personnel as well as gas, fire and flood protection. These data centers are the real deal!
Pricing and Contracts
HashFlare offers open-ended (lifetime) contracts to mine Bitcoin and Litecoin. They do incur a maintenance fee though, of $0.00035 per GH/s per day. Your contract will run forever, as long as it remains profitable. This means that if your contract does not make enough to cover the maintenance fee, your contract will be stopped. If the contract becomes profitable again within twenty one days, the mining will resume, making this a worthwhile investment.
Ethereum and Dash contracts have a one year (twelve month) duration. They do not have any maintenance fees, this is all included in the initial price of the contract.
Bitcoin Contracts
Bitcoin contracts from HashFlare are completely custom. There are no set plans or deals, you simply choose the hashing power you would like and ultimately the price you want to pay for the contract and begin mining. We've made some example contracts below that are on par with other cloud mining services for your reference. You can use our bitcoin profitability calculator to see how much money you can make mining Bitcoins with HashFlare.
Bitcoin Contracts and Profitability
(The profit and breakeven figures are based on fluctuating bitcoin prices, mining difficulty, along with various other factors. Please refer to our bitcoin calculator and charts to help make a decision that's right for you.)Plan One
one time fee
| Contract Length | Lifetime |
|---|---|
| Hash Power | 200 GH/s |
| Daily Gross | $0.17 |
| Daily Fee | $0.07 |
| Daily Profit | $0.10 |
| Breakeven | 249 Days |
| Monthly Profit After Breakeven |
$2.90 |
Plan Two
one time fee
| Contract Length | Lifetime |
|---|---|
| Hash Power | 2,500 GH/s |
| Daily Gross | $2.08 |
| Daily Fee | $0.88 |
| Daily Profit | $1.21 |
| Breakeven | 249 Days |
| Monthly Profit After Breakeven |
$36.23 |
Plan Three
one time fee
| Contract Length | Lifetime |
|---|---|
| Hash Power | 15,000 GH/s |
| Daily Gross | $12.50 |
| Daily Fee | $5.25 |
| Daily Profit | $7.25 |
| Breakeven | 249 Days |
| Monthly Profit After Breakeven |
$217.40 |
Ethereum Contracts
Ethereum contracts with HashFlare, like bitcoin, are completely custom. You choose your own hashrate and the slider will reflect the contract price you pay. These contracts expire after one year, so you would need to pay the fee again after twevle months to contiunue the contract. Check out our Ethereum profitability calculator to see if you can start making money mining Ether.
Ethereum Contracts and Profitability
(The profit and breakeven figures are based on fluctuating Ethereum prices, mining difficulty, along with various other factors. Please refer to our ethereum calculator and charts to help make a decision that's right for you.)Small Plan
one time fee
| Contract Length | 12 Months |
|---|---|
| Hash Power | 1 MH/s |
| Daily Profit | $0.08 |
| Breakeven | 287 Days |
| Monthly Profit After Breakeven |
$2.30 |
Medium Plan
one time fee
| Contract Length | 12 Months |
|---|---|
| Hash Power | 30 MH/s |
| Daily Profit | $2.30 |
| Breakeven | 287 Days |
| Monthly Profit After Breakeven |
$69.05 |
Large Plan
one time fee
| Contract Length | 12 Months |
|---|---|
| Hash Power | 100 MH/s |
| Daily Profit | $7.67 |
| Breakeven | 287 Days |
| Monthly Profit After Breakeven |
$230.16 |
Withdrawal Minimums and Fees
Bitcoin
HashFlare withdrawals for SHA-256 and Scrypt contracts are available only Bitcoin. The minimum withdrawal amount of 0.0007 BTC, including commission fees.
Ethereum
The withdrawal minimum for ETHASH contracts are available only in Ethereum. The minimum withdrawal amount of 0.0007 ETH, including commission fees.
Dash
The minimum withdrawal for X11 contracts are available only in Dash. The minimum withdrawal amount of 0.0004 DASH, including commission fees.
Cryptocurrencies Offered
HashFlare offers five currencies available to you to mine. Bitcoins, using the SHA-256 algorithm, Litecoins, using the Scrypt algorithm, Ethereum, using the ETHASH algorithm, DASH using the X11 algorithm and Zcash, using the Equihash algorithm. The availability of each currency depends on how many people are currently signed up to contracts, as of 2017, four are available to customers, Bitcoin, Litecoin, Ethereum, and Dash.
Payouts
Once you start turning a profit with HashFlare, payouts are daily and the minimum payout is 0.0007 BTC.
Is it a scam?
HashFlare is a controversial website for many reasons. Lots of people think it's to good to be true and as such, questions come up about it. Is it legit? Is it a ponzi scheme? Can they be trusted? Well here's a few snippets of information to help answer these questions.
HashFlare is backed by HashCoins, developers of cloud mining software and datacenters equipment. They themselves have over 500,000 users worldwide and sixty companies working with them.
Security
HashFlare has a secure website, with an SSL certificate (https), which means everything from your browser that gets sent to HashFlare is encrypted. They also offer two step authentication on their website, adding an extra layer of security to your account during the log in process. For more information on two-factor authentication, visit our frequently asked questions.
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