Hashflare.io turns cryptocurrency mining accessible to everybody. There is no need to buy expensive & complex mining equipment, Hashflare.io wants to make mining accessible for all users around the globe no matter of age or background. The customers only need to select a desired hashpower & start generating revenue right away with the Hashflare cloud mining service. Earnings with cloud mining becomes more predictable with Hashflare.io than it used to be during traditional bitcoin hardware mining. The hashrates starts from as little as 10GH/s, so new clients doesn’t need to invest a lot of funds to join the cloud mining business.
The Estonian Hashflare is has been founded in 2014 in Tallinn & providing cloud mining services since the beginning of 2015. The technology behind is powered by the HashCoin team that is dealing with blockchain solutions & hardware since 2013. They have been producing 10.000 ASIC miner devices for mining bitcoin, litecoin & other digital currencies. Hashflare partnering with HashCoins ensures continuously developing new mining hardware that’s up to date with the newest blockchain technology. The innovations are financed from the companys own share capital, but they also have special investors who provide additional funding to the startup.
The founders of the company are 2 Estonian digital entrepreneur. Ivan Turygin has a Business Administration degree and has many years experience in cryptocurrencies. Beside running Hashflare & HashCoins he is also the founder & CEO of Burfa Capital, an Estonia based consultation agency. The other founder of Hashflare is Sergei Potapenko also has a Bachelors degree in Business Administration from the Tallinna Technical College. Beside Hashflare.io he is owning a company with a much different profile: Siberian Timber, that’s importing redwood pine for the UK market.
The Hashflare miners are located in a hi-tech, modern facility, where the room temperature & moisture is constantly monitored according to industry standards. This ensures maximum hashpower capacity without the danger of overheat.
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Scrypt, SHA256, Ethash, Equihash & X11 algorithms are all running on the GPU equipment provided by Hashcoin. The contracts are all available from 24 hours contract time up until lifetime accesses, except for Ethereum & Zcash where the length of the contract is maximized in one year.
The cloud mining results at Hashflare.io show up on the client accounts immediately after payment confirmation & the client receives the first payout just 24 hours after the first block mined. Customers can select the withdrawal methods from bitcoin, credit cards & wire transfers.
The Hashflare mining contracts can be signed from 1 day up to unlimited time. Customers may use Hashflare services as long as they wish to do, there is no time limit applied. Users allocate their hashpower directly to the mining pool they wish to serve in.
At Hashflare.io, users can join any mining pool they with to do, so the most profitable combination of cloud mining activity can be reached for any client. Then the mined cryptocurrencies are distributed among the Hashflare clients based on their share they bought at the company (PPS method).
At registration, Hashflare asks for the country of residence & for the date of birth as well beside the usual user name & password. This information is only used in case of security questions asked if they think the account has been compromised.
Hashflare also provides detailed, real-time statistics about the mining activity.
Fees & Pricing Schedule
As Hashflare provides cloud mining for five different algorithms, the pricing is tailored to each cryptocurrency individually. Users may start cloud mining as little investment as $1.20. You can save 3% on the mining fees by using this Hashflare Promo Code.
The fees are based on hashpower & also they apply certain maintenance fee also based on the supplied hashpower during a 24 hour window. Maintenance fees are only applicable for Scrypt & SHA256 mining, users mining Ethereum, Zcash or Dash cryptos doesn’t pay any maintenance fee at all. Although on the other hand, these later three currency contracts are only avaliable for one year term. Zcash cloud mining has only limited supply at the moment as they only maintain the mining activity until it is profitable for the users.
Cloud mining prices are expressed in the form of minimum hashpower provided:
- Bitcoin with SHA256 algorithm costs $1.20 for 10 GH/s,
- Litecoin with Scrypt algorithm costs $8.20 for 1 MH/s,
- Ethereum with Ethash algorithm costs $2.20 for 100 KH/s,
- Zcash with equihash algorithm costs $2.00 for 0.1H/s,
- Dash with X11 algorithm costs $3.20 for 1MH/s.
Hashflare charges a maintenances fee of $0.01 for 1MH/s litecoin hashpower & $0.004 for 10 GH/s bitcoin hashpower daily, after each 24 hour long mining period. These maintenance fees aren’t billed to the customers, but deducted directly from the mining results at daily payouts. The fees are deducted in bitcoin based on the daily BTC/USD exchange rate provided by Hashflare.io.
The cloud mining company accepts wire transfers in USD & EUR, although they charge an extra 10 EUR commission fee on all purchases below 50 EUR. VISA & Mastercard are also accepted payment methods but they apply a 3000 USD limit per daily purchases for these. Due to customer protection, on the accounts where the hashpower is purchased with credit cards, there is a 14 day holding period, when the accumulated mined currencies can not be withdrawn from the account. The immediate payouts are appearing on those accounts where the hashpowers are purchased from bitcoin.
Hashflare only enables withdrawals beyond the minimum set for bitcoin at 0.0004BTC & for ethereum at 0.0007ETH. At withdrawals they only charge the transfer fee to the blockchain that is 0.0003 BTC & 0.0006 ETH respectively paid to blockchain.