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Hashflare Review

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

Contract Length
Open-Ended
Maintenance Fee
0.00035 USD per GH/s per day

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

$24
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

$300
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

$1,800
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

Contract Length
12 Months
Maintenance Fee
None

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

$22
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

$660
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

$2,200
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.


Bitcoin


Ethereum


LiteCoin


Dash


ZCash

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 secue 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.

Hashflare Screenshot

Hashflare Screenshot 2

Have you got something to add about Hashflare? Have you used them and want to share your experience? Let us know here!

Hashflare Logo
Summary
Star Rating
Payments Accepted Webmoney
Payout Frequency Daily
Payout Currencies
Payout Minimum 0.0007
Payout Fee 0.0006 BTC
Maintenance Fee 0.00035 USD per GH/s per day
Location Estonia
Languages English, Русский, Deutsch, Italiano, Español, Português, Ελληνικά, Türkçe, 日本語, 官話, ქართული
Website hashflare.io
Social Networks
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