My experience with Hashflare: First impression and registration Photo: © Screenshot Hashflare When you land on the registration page of Hashflare.io the first impression is unfortunately not the best. The site looks old and neglected – once a bad sign for an innovative cloud mining provider. This, of course, does not put us off and we set up an account at Hashflare.io. This works perfectly and in a few minutes a new account has been created at Hashflare.
It is to be hoped that Hashflare has put its capital in excellent mining hardware instead of a designer and translator. Security The first click always goes into the security settings. In addition to the default password, which should have at least 32 characters, Hashflare also provides 2 factor authentication(2FA).
After activating the 2 factor authentication, each login not only asks for the e-mail address and password combination, but also for a token that is generated on the smartphone. This token is updated every minute, making hackers almost impossible to crack the token. This significantly increases the security of the account. Photo: © “Screenshot cash-geek.com – Google Authenticator” All you need is a smartphone and the free app “Google Authenticator”. Note: When setting the 2-step verification, the 2FA code must be saved (this is next to the QR code).
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We recommend saving this offline – preferably on a piece of paper. With this code the 2FA with the Google Authenticator can be added again after a mobile phone loss or when new equipment is installed. In addition, you can enter your own wallets (Bitcoin / Ethereum / Dash / ZEC Wallet).
Another security factor is that as soon as a wallet address has been changed, the payout is blocked for 2 weeks. This makes it difficult for hackers to instantly lift the stolen coins to their accounts.
Buy Hashpower: Many payment methods and instant setup Photo: © Screenshot Hashflare Hashpower at Hasflare.io is intuitive and easy to use, even if you have to click through some forms. In the first step the desired algorithm is selected: • SHA-256 or Scrypt for Bitcoin Mining • ETHASH for Ethereum • X11 for Dash • EQUIHASH for ZEC With a slider you can select the desired hash performance or the appropriate investment. Photo: © Screenshot Hashflare Depending on the type of payment I decided to pay by bitcoins, of course. The computing power is immediately available and the cloud hardware starts with the exploration. In our test, we opted for 3 MH / s ETHASH for 1 year Ethereum Mining. Our investment was 66 USD. Under the Treaties, the exact conditions should be observed.
Each contract has different requirements. While, for example, the Ethereum Miners do not have a maintenance fee, the “Maintenance Fee” for Bitcoin SHA-256 Mining is currently 0.0035 USD per 10 GH / s for 24 hours of operation. For this, the computing power at the ETH-Mining is rented for exactly one year, whereas the Bitcoin contracts represent a contract with an unlimited duration. Photo: © Screenshot Hashflare But here, too, the small print is to be read: Unlimited running time means that the miners only work in the profitable area. If the maintenance fee is no longer covered by the operation of the Mining machines, they are automatically taken off the grid by Hashflare due to unprofitability.
This is a common procedure with most cloud mining providers – but must be included in a return on investment calculation. Photo: © Screenshot Hashflare. Adjustments and digital money The corresponding mining pool, into which the Hashpower is to be incorporated, can be selected on the overview dashboard. Concerning Ethereum Mining there were adjusted to 50% Dwarfpool.com and the other 50% to EthereumPool.co.
In addition, some statistics on the own hash values, as well as a sales forecast are provided. According to the forecast, the return on investment should have occurred exactly after 100 days and the invested 66 USD would have been repaid. After that, exactly 265 days remain to earn money with the Cloud computing performance.
Payout: Is Hashflare.io reputable? In my estimation, Hashflare.io is reputable. The company has existed for several years and places great emphasis on transparency in many areas. The fees, costs and revenues are presented well and clearly. The payout at Hashflare has worked flawlessly and extremely fast. Within a minute, the Ethereum was transferred to the Coinbase Web Wallet.
This is a great seriosity factor, because with other vendors, the payout period takes several days and is restrained by restrictions such as a maximum payout amount or horrendous network fees. With HashFlare your own coins can be paid out immediately and without problems.