In today’s blog post I’m going to be covering Hashflare.
If you didn’t already know Hashflare has increased their prices.
Seeing this is a trending cloud mining service I wanted to cover it for you.
So let me explain what’s going on with Hashflare at the moment.
Hashflare Review
If you’re not familiar with Bitcoin mining it’s very expensive. A lot of money and hardware go into the actual mining of the coin.
It’s very common for a company to have a 12 month or a 2 year backlog of orders for this equipment.
So you can’t actually say “Ok we are running out of mining contracts. So lets quickly order some more mining equipment and increase the amount of mining we offer on our website.”
It’s NOT that simple.
It can take months even years to get this equipment. No doubt Hashflare already had this equipment on order. This is just pure speculation.
Hashflare Website – SHA-256
Right now if you take a look at the Hashflare website. It says SHA-256 Cloud Mining which is bitcoin has a limited stock.
So that’s pretty unfortunate. Because as of right now Genesis mining doesn’t have any bitcoin mining contracts or any contracts at all.
So if you want to do bitcoin mining right now Hashflare is pretty much your only option.
I’m guessing this could sell out sooner rather than later.
It’s very common for people to invest $15,000 USD into Hashflare. I know a number of people who have.
From what I hear it’s been a great experience. They have been paid out every single day.
I just thought it was important to bring you an update on Hashflare.
Although the price has gone up the product is still good.
Hashflare Price Increase
SHA-256 was a $1.50 for the Minimum Hashrate of 10 GH/s. Now that same package is $2.20 USD.
You might think that’s only a .70 cents increase. But I want you to understand that is quite a lot if you’re buying for example 100 T hash. It can add up pretty quickly.
I’m going to explain quickly if Hashflare is still profitable or not. Or if you should just be in another program altogether.
Hashflare Withdrawals
Basically Hashflare has increased this price as already stated.
The maintenance fee has stayed the same.
Just one thing about the BTC payout. They say on their website instant withdrawal. Now currently they’re only allowing withdrawals of .2 bitcoin and above.
So depending on how much you put in. It may take you a few days or a week or more to take some of that money out.
This has nothing to do with Hashflare. This has something to do with there are so many unconfirmed transactions on the blockchain.
Last time I checked there were over 170K of these. It’s actually gotten better. Last time I checked it was well over 250K unconfirmed.
With so many unconfirmed transactions you have to create guidelines until there is a better handle on this.
Also take into consideration the cost to move bitcoin around.
When I went to one of my wallets to send around $3000 USD of btc they wanted around $120 USD for a fee.
That is very high. For something like Litecoin or Etherium charges .60 or .70 cents.
It’s a HUGE difference.
Hashflare Cost
So going into the Hashflare dashboard. Just a short while ago if you purchased 100TH/s it would of cost you around $15,000 USD.
Now that same purchase will cost you around $22,000.
It’s quite expensive. But is it still profitable?
Lets look at an example.
Suppose you’re purchasing 23 TH/s which is about $5,060 USD.
If you do all the calculations with Hashware mining it will take about 110 days to break even. But remember you are on a 1 year contract. So it’s not bad at all.
The hourly profit payout is about $1.90 USD. That comes to about $45.63 per day. That is $319.41 per week coming to $16,655.09 annually.
So you can see in a whole year you will make over 16K profit. Remember that is with the bitcoin price as it is right now.
If the bitcoin price increases (which I think it will) you will make more profit.
So the chances of you making a really nice profit is high with crypto growing so fast.
To make it easier I used CoinWarz mining calculator and plugged the numbers in.
Here is a screenshot so you can better understand:
Hashflare – Cloud Mining Conclusion
I have spoke to many people in Hashflare and they are all happy. It’s been paying them out exactly what it is suppose to.
If you haven’t already joined Hashflare I think it’s a great way to grow your bitcoin. I highly recommend joining.
Even though the prices has gone up it’s is still extremely profitable. Even though the price has gone up to $2.20 it’s still a great contract to have.
Basically with $5k you’re going to profit over $16K that is a great return on your capital in a year.
It’s over three times your money in one year basically doing nothing. You just sit back and let it run on autopilot. So far I give Hashflare a big thumbs up as a great way to grow your bitcoin.
My #1 Recommendation
Whether you’re going to set up cloud mining with Hashflare or not this still applies to you.
Bitcoin and crypto in general is absolutely exploding right now.
But like the old saying goes. Don’t put all your eggs in one basket.
Myself and the team are constantly looking for new ways to help you profit.
After reviewing hundreds of ways to make money on the internet… growing a crypto portfolio is by far my favorite!
Click Here To See Exactly How I Do It
This is the only system you can make money without sponsoring or selling anything.
You can’t afford to miss out on this 👇👇
If others can do it so can YOU!
One day in the future you will thank me 🙂
Wishing You Only the Very Best!
Email: [email protected]
Skype: joshkpaiva
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Very good written article. It will be supportive to anyone who utilizes it, including me. Keep doing what you are doing – can’t wait to read more posts.
Thanks Kevin appreciate the feedback.
So after reading this article and reading the information available on the Hashflare site, I’m still a little confused. Is the amount you pay only a one time deal for the entire year?
Either way is this even worth it if you only want to dabble with a couple hundred dollars vs a couple thousand?
Hi Justin, you invest what you feel comfortable with and it’s one time. I am not a financial advisor on what you should or shouldn’t invest. Everyone is different. Some people put small amounts in some people invest thousands. I would feel everything out and see what you feel most comfortable with. Start learning about ICO’s, coins already on exchanges etc. There is a lot you can do in the crypto space. Personally I love ICO’s and building my crypto portfolio. I have my money invested in basically everything but ICO’s are my favorite.
I have used Hashflare for more than 1.5 months and so far the payouts are following my initial forecast. ROI on one year is 400%, could lower to 300% according to the difficulty of hashrate.
But this cloud mining is legit, no doubt about it. I already got back 50% of my initial investment in 1.5 month. I will be breakeven in another 1.5 month.
Thanks for the feedback.
i real enjoy seeing other market analyst/ bloggers complements each other, other than always writing a negative review and at the end suggest your own scam
Thanks. I definitely try and find companies that I agree with. You have way less enemies that way! BTW I research everything whether I join or not. If I believe in a product or service and truly believe it’s legit I will join. However everything is risk to a certain extent.
good article, man! but for everyone – we have some reasons to judge #hashfalre of course, but firslty judge urself. BTC showed the world real humanities face, guys. every1 want to make money at home with nothing to do, every1! so we all paid for our sloth. also minings (CLOUD ONE) is not place there u can make great money. better go to Forex.
Live and learn most things don’t last forever and crypto was the wild west for a bit for sure.