Hashflare Review 2018

What is Hashflare ?

HashFlare is a cryptocoin cloud mining company owned by the HashCoins company that develops software and other equipment for Bitcoin mining and other cryptocurrencies. They use hardware power to mine cryptocurrency remotely. Basically it let you mining cryptocurrencies without the need for a large initial investment in hardware or technical knowledge.

HashFlare

The Company

HashCoins company, was founded in July 2013 by Sergei Potapenko, is based in Estonia and started out as a web interface development company for remote mining administration.

In 2014, the company started providing a hosted mining service, totaling 1 TH / s on SHA-256, but had a bad time, because it complained that it had some problems with suppliers, which caused interruptions in delivery .

Since January 2015, HashCoins has begun offering a cloud mining service, giving its customers the opportunity to join the world of cryptocoin mining and win Bitcoin without having a large investment in specialized mining hardware.

That’s when HashFlare came along.

Low Cost Mining

At the date of this article’s creation, HashFlare provides mining with the following algorithms:

SHA-256 – used to mine Bitcoin;
Scrypt – used to mine Litecoins (although HashFlare pays in bitcoin);
ETHash – used to mine Ethereum;
X11 – used to mine Dash (not available now)
EquiHash – Used to mine ZCash

hashflare-litecoin-and-bitcoin
hashflare-eth-dash-zcash

Why Hashflare?

I have been using cloud mining services since July 11th 2017 from Genesis Mining. In the beginning, I thought this type of sites were scams because let’s be honest if you search for this services on the internet you will find all kinds of articles saying that they don’t pay or that they are scammers so I was a little bit skeptical.

Still I invested $338.53 for 2.5 TH/s… I knew if anything went wrong I could afford to lose that money. After 5 months I have earned $1317 USD. Almost 4x my initial investment.

I started to get more interested in cloud mining, but I couldn’t get more contracts with Genesis mining because bitcoin contracts were sold out, only Monero is currently available.
I read more and more about hashflare and made an initial investment of 4.16 TH/s for $624 on December 16th and two days later I invested $1500 for 10 TH/s. The reason I made this two investments it’s because they are incredibly profitable!

How To Calculate Hashflare Profits?

Hashflare contracts are different from Genesis Mining contracts. They have a maintenance fee of $0,0035 for each 10 GH/s. Let’s calculate how profitable is 14.16 TH/s. I use coinware to do that:

75 days to break even. It’s a good ROI, but keep in mind that this may change due to Bitcoin mining difficulty and Bitcoin price.

Conclusion

In my opinion, HashFlare is the second best alternative to mine Bitcoin. With a small initial investment it is possible to start mining bitcoin and other cryptocurrencies. Once the first gains are made, you can reinvest in more mining power.

HashFlare comes with a very intuitive and easy-to-use website, allowing new users to quickly adapt to the system.

If on the one hand the backoffice is very simple, it is at the same time full of information. The use of graphs, detailed statistics and a history of operations, allows us to have a real sense of the results achieved and a “vision” of the future gains.

This is one of the cloud mining miners I use and I recommend.

You can click here to register in HashFlare.

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