EOVOT - cryptocurrency mining as an online game. Closing in 2022?

Traditional hardware cryptocurrency mining requires more and more investments every day. Therefore, it is not surprising that miners are actively looking for viable alternatives to this method of earning money.

Recently, cloud mining has become increasingly popular. This is not surprising, since specialized services rent out computing power without charging for equipment maintenance.

One of the most reputable services for cloud mining is the Eobot platform. The company began providing hashrate rental services back in 2013.

The platform has managed to gain a foothold in the field of cloud cryptocurrency mining, forming an impressive customer base. Now let’s take a closer look at the main features of working on the Eobot service.

What is cloud mining

Beginning Miner's Dictionary

Cryptocurrency is a tradable digital asset that is typically (but not always) not tied to any real-world items or resources. For example, the ruble and dollar are fiat currencies; they are backed by gold.

Cryptography is a set of practices and methods for secure data transmission that ensure the privacy of protected materials.

A blockchain is a publicly accessible, ever-growing database of records (blocks) that are linked to each other. The blockchain is reliable - records in it cannot be falsified or changed, because the data is decentralized, i.e. stored separately on different computers. The records in the blocks are not encrypted, but cryptography is used to verify that they have not been changed.

Transaction – transfer of a certain amount of cryptocurrency to the recipient’s address. An address is an analogue of a bank account; each cryptocurrency will have its own account address.

Mining is receiving a reward for solving mathematical puzzles that are carried out on miners’ computers. The solution requires large computing power, so such cooperation is mutually beneficial for miners.

A mining pool is the collection of all the resources of miners whose hardware is involved in mining.

A mining farm is a set of equipment used for mining.

Cloud mining is the mining of cryptocurrency on rented equipment, which is located in a data center specially dedicated for this purpose. You can mine cryptocurrency without having access to the hardware on which the process itself takes place.

Cloud mining is gaining popularity; it is attractive because it requires a minimum of effort and investment in equipment, providing certain conditions in the premises for it and maintenance.

Why buy hardware, especially if you don’t have a lot of free space, spend money on electricity and deal with technical difficulties, and regularly update equipment due to its rapid obsolescence? After all, cloud mining companies have already prepared and optimized everything.

Despite all the benefits that cloud mining offers us, beginners should not forget to be careful - critical thinking can help you out, especially when it comes to financial investments. Critics suspect cloud mining services of fraud—and with good reason. Renting property, cars and much more is widespread throughout the world. From one glance at the service’s website, it is impossible to understand whether the owners are conscientious or not. In fact, it is almost impossible for us to even check whether they have the equipment.

According to rough estimates, 70-80% of cloud mining services are fraudulent.

Let's take a look at the definition of “financial pyramid” - a system in which the income of its participants is generated by attracting new participants. All this works along a chain: the money of those at the bottom goes to those at the top. The analogy with cloud mining suggests itself - the company may not have equipment, and the owners can take clients’ money, creating the illusion of successful mining. According to rough estimates, 70-80% of cloud mining services are fraudulent. The future investor is left with only 20% of worthwhile projects. How to choose where to mine?

Checklist - signs of a pyramid in the field of cloud mining

• There is a minimum of information about the owners of the service - nothing can be found from the photo and company data (the real owners of the photos with real names pop up, there are similar ones on other sites - sometimes one to one)
• Lack of links to official groups and personal pages on Facebook, Linkedin, Twitter
• Poor quality of the material - low-resolution pictures, photographs of team members that are clearly taken from stock services, an abundance of errors and typos in the text, poor-quality design and other little things that catch the eye of even an inexperienced Internet user
• No signs of life (for example, a couple of tweets for the whole year and one photo of equipment on the news page or frozen accounts)
• The texts often mention lucky people who became rich in an instant, focusing on the dream of a quick rise and a miracle
• Promise of stable profitability of 100% per annum and higher with minimal capacity
• Guaranteed profit from the very first days or weeks
• Mandatory requirement for clients to attract new users

Connecting a video card to the Eobot service

Which video card is better to buy? You need to find an inexpensive option capable of delivering a power of at least 200 KH/s. If the budget is too limited, then look for a device with a power of 100 KH/s. Recently, the Radeon R7 240 video card has been popular among beginners. On average, it produces 110 KH/s.

Now let's talk directly about the process of installing a video card on the Eobot cloud. Follow the step by step instructions:

• First you need to download the mining program from GitHub.
• We extract the contents of the downloaded archive into a separate directory.

• Open one of the batch files (a file with the bat extension) with notepad.

• Go to the service website, open the “Pool Info” tab.
• Copy the commands from the lines “Server” and “User Name” and paste them into the bat file.

As a result, the batch file should look like this:

In principle, nothing complicated. The Scrypt mining algorithm was taken as an example.

What is Eobot

The American cloud service began operating in 2013. The main page of the site is laconic; there is no localized Russian (and other) version, but there is a built-in Google Translator. For lovers of mobile devices there is an official application in the appstore and Google Play. In addition, the developers took care of Mac and Linux users. The service monitors the legislation and ensures its safety and yours by prohibiting the deposit and withdrawal of fiat currency. The service recognizes equipment rental as unlimited in time. Those who want to learn more about the nuances of the service can study the Terms and Conditions Section, which can be found by following the link. We also recommend that you read the section on compliance with legal requirements.

Profitability of mining on Eobot compared to direct competitors

Considering that cloud mining is very common, it is not difficult to guess that Eobot has many competitors. The most important ones are Genesis Mining, Hashnest and Hashflare.

There is no point in comparing each of these services in detail, because each of them has both its advantages and disadvantages. But if we look at the situation as a whole, we can say that Eobot is characterized by relatively low profitability compared to its competitors. But this is probably the only thing in which Eobot is inferior to Genesis Mining, Hashnest and Hashflare.

The most important advantage that Eobot has is a large selection of available cryptocurrencies. The service offers Bitcoin, Litecoin, Ethereum, Ripple, Dash, Golem, Bitcoin Cash, Dogecoin, Curecoin, Bitshares, Monero, Factom, Zcash, Bytecoin, NEM, STEEM, Gridcoin, USD, MaidSafecoin, Lisk, and Ethereum Classic.

Another important advantage is the affiliate program that is beneficial to users and the opportunity to start earning money without investment. A long-term contract can also be considered an advantage of the service.

Unlike its competitors, Eobot always provides computing power; there is no need to monitor the site, waiting for the capacity to appear, as is constantly necessary to do in the case of Genesis Mining.

If we talk about the immediate profitability of services, then Eobot has practically no competitors in the long term. This is exactly what you are looking for, we advise you to take a closer look at this service. In the short term, it makes sense to consider Genesis Mining, Hashnest and Hashflare.

Advantages

• A reputation established over many years of stable work.
• 2 clouds: GHS 5.0 and GHS 6.0.
• 2 types of lease: for 10 years and daily.
• More than 20 coins available: Bitcoin Ethereum Ethereum Classic Litecoin Bitcoin Cash Dogecoin Dash Cardano NEM Monero Zcash Factom Bytecoin Steem Lisk maidsafecoin.
• Free registration, no paid subscription.
• The minimum deposit is $10.
• Easy to learn: even a beginner can cope with registering and starting to work on the service.
• Active community: the site has chats in Russian, English, Spanish and German.
• Cross-platform.
• High-quality support: chat, email, and phone calls are available.
• The service has its own exchange.
• Referral links.

How to purchase GHS for a cloud platform

After crediting funds to the Eobot platform account, you need to find the “Exchange” tab and activate it.

Pay attention to the left side of the tab that opens. Here, from the drop-down list, you need to select the cryptocurrency that we deposited.

On the right side, select the appropriate cloud operation algorithm, and also look at the expected rental period.

The system contains 4 cryptographic variants of the algorithm, the operation of which involves 3 clouds. Most experienced users believe that the most profitable cloud option is Cloud SHA-256 4.0 5 Year Rental.

You can sign a contract for 5 years right on the website. But, you need to be prepared for the fact that anything can happen in 5 years, and most importantly, the algorithm will change, the complexity of the work will increase, and the volume of token generation will decrease.

Thus, by 2022, the volume and quantity of bitcoins will decrease by 2 times, at the same time, most likely, the cost of cryptocurrency will increase to astronomical proportions.

Therefore, the benefits of working for Eobot will not lose their attractiveness even after 5 years.

Remember that a rented cloud cannot be instantly exchanged for any of the offered cryptocurrencies. But, some want to withdraw earned crypto assets “right now”. To do this you will have to use some trick. In the same way as you exchanged cryptocurrency for the cloud, you can change the contract period from 5 years to 24 hours. That is, you need to go to the “Exchange” tab again. We look at the left side of the screen, where you need to select the item Cloud SHA-256 4.0 5 Year Renta, and on the right we indicate the following - Cloud SHA-256 4.0 24 Hour Renta.

A specific example shows that you can exchange a 5-year current contract of 20 GHS for a new interaction scheme - 20151 GHS for 24 hours.

All that remains now is to select only the crypto asset that is profitable for you for withdrawal , set it for generation (mining) and withdraw it in about 24 hours.

go

Registration in Eobot

1. Visit the official website https://www.eobot.com/.
2. Click the Sign up button to go to the registration page.
3. Fill in the information: First name, Second name, email, password, and check the box to agree to the terms of service, and also complete the captcha. After clicking Sign up you will become a user.

To verify your account, you may be required to send a photo and passport information. Eobot verification follows the KYC principle - “know your client - know your client.” KYC involves identification and identity verification, this is necessary to assess the client’s reliability and possible risks. You will not have to go through confirmation directly upon registration.

Registration on the service

Registration will not take much of your time and effort. You just need to enter a minimum of personal data (first and last name), email address and, of course, password. Be sure to check the box if you agree to the rules. You will also have to pass a captcha test (where would you be without it), and that’s all.

You will receive a confirmation email with a link that you will need to follow. Cases when a letter does not arrive happen very rarely, but suddenly you are unlucky and such a nuisance has happened to you, look in “spam”, sometimes they end up there. But, we repeat, this is a rarity, and most correspondence is delivered instantly and to the address, which is a big advantage of the Eobot resource.

When you follow the link, you will find yourself on the service login page, where you will again need to enter the same data (login, password) and go through the captcha again. But after this you will not be able to log in to the service. The fact is that it is protected by two-factor authentication and here you also need to enter a special key consisting of 6 digits. It will be sent to you by letter to the previously specified email address. And now, after entering this element, you will finally find yourself directly on Eobot

Verification in the service

Verification in Eobot is needed to increase withdrawal limits; as the level of verification increases, the withdrawal limit also increases.

To complete identity verification you will need:

• Your photo with your passport/ID in your hands
• Color scan/photo of passport pages (separately) or identity card (both sides) in high resolution, without glare.
• Please note that the entire face must be visible.

Eobot accepts documents in both Latin and Cyrillic alphabet. Verification may take several days, please wait for notification by mail.

And some more interesting information

Quite often, users are perplexed by the fact that the Eobot project mines such a large number of different cryptocurrencies, despite the fact that they are all based on different algorithms. The question is logical, but the fact is that, in fact, the service is “tailored” for cue ball and only BTC is mined there. The whole trick is to instantly exchange the cue ball for the crypto of your choice. That is, no matter what cryptocurrency you choose, bitcoins will be mined in any case and immediately exchanged for the money you choose, creating the illusion that you are mining it. In this regard, the profitability of your mining is directly dependent on the Bitcoin exchange rate and its complexity.

Now let us present to your attention information that is somewhat paradoxical, but not without meaning. Some experts in cloud mining, when asked “is it worth investing in this project?”, confidently give a negative answer. They justify their position with low profitability and high hashrate prices (they say that in other places the same volumes of power can be purchased 2-3 times cheaper). But they immediately nod in the affirmative when they are asked whether in this case it is necessary to contact this resource at all. And again they justify their answer - Eobot cannot be called profitable, that’s for sure, but you can’t deny it’s educational qualities, and in general it’s an interesting project. It's such an easy find for beginners. On this site, by risking a couple of dollars, you can learn a lot and understand the very essence of the concept of cloud mining. Or you can invest nothing at all, just work on the bonuses you get from the faucet.

In general, something like this. And the decision, as always, is yours. If you want to gain experience and delve into the topic, go for it. In the end, you have nothing to lose. Good luck to you!

How to make money on Eobot without investment

Beginners can get their first coins using a faucet - to do this, select the coin you want to receive and select Faucet in the Products menu. After entering the captcha you will receive a reward. This method seems attractive, but it is not worth the money or time spent. The faucet is not capable of bringing even a minimal profit, it can only be used once a day, and receiving currency from faucets from other services is inconvenient, especially since they also have their own limitations.

Prospects for Eobot, opinion of RusCoinsInfo

As we wrote above, Eobot has been providing its services since 2013, that is, for more than 5 years. This fact alone suggests that the service can be trusted; it is unlikely that it will suddenly close and stop working. And long-term contracts also inspire optimism.

In terms of the industry as a whole, cloud mining has a reputation for being risky: while contracts are typically long-term and initial payments are fixed, fluctuations in the value of cryptocurrencies make such investments a roulette game. Therefore, the editors of RusCoinsInfo warn you against rash investments. But at the moment, things are going well for Eobot and there are no signs yet that the situation will change in the near future.

How to make a deposit on Eobot

To replenish your account, the service has a separate “Deposit” section. It presents wallets in all cryptocurrencies available in Eobot, as well as legal information - the offer and obligations of the parties.

Eobot allows you to top up your account in both cryptocurrency and fiat currency. For your first deposit in cryptocurrency, you will need to create a wallet address in the service. To generate an address, click on the “Generate” button. The minimum deposit size in cryptocurrency depends on the specific coin - it is determined by the service itself. There is no commission for topping up your Eobot account.

To make a deposit in fiat currency, click on the “Buy Cloud” button. A list of payment systems will open. Once the money transfer is completed, the balance will be replenished. Balance on Eobot is displayed in US dollars.

How to withdraw money?

To withdraw earned money from the Eobot Mining service, follow the following instructions:

• We open a personal account.
• Select the “Withdraw” section.
• A list of digital currencies available for withdrawal will open.

• Next to each coin, you can specify the wallet address, as well as the amount of manual and automatic withdrawal.
• We specify the minimum available withdrawal size and select the withdrawal type.

Let's explain the last point of the instructions a little. If automatic withdrawal is set, then the money will be transferred to the wallet balance without user intervention as soon as the amount you specified is generated.

In the case of manual withdrawal, you just need to indicate the amount of funds to be withdrawn, and then click on the “Manual Withdraw” button. Coins will be credited to your account balance within 24 hours.

How to start mining on Eobot

Coins for mining

Bitcoin, Ethereum, Ethereum Classic, Litecoin, Bitcoin Cash, Dogecoin, Dash, Cardano, NEM, Monero Zcash, Factom, Bytecoin, Steem, Lisk, maidsafecoin.

Now that you have a rough idea of ​​how it all works and your account is ready, you can start preparing for cloud mining.

After replenishing your balance, you can exchange your coins for any other cryptocurrency presented on the Eobot exchange, or immediately use them to pay for the rental of mining capacity.

How much can you earn?

It is unlikely that miners working on Eobot will be able to make a profit really quickly. Let us argue this point of view in the context of a real example.

As mentioned earlier, the maximum rental period for computing power is five years. Therefore, with such a contract, it is not entirely appropriate to take into account calculation formulas based on the dynamics of changes in the price of a specific cryptocurrency.

Most likely, the first 12 months of work will be spent covering the costs associated with purchasing the contract. However, over the next three to four years, the miner will receive a net profit.

In this regard, the issue of the further functioning of the cloud mining service comes to the fore. Eobot has serious competitors that need to be resisted, as they work using an identical algorithm.

For example, hashflare.io allows you to double the funds invested in purchasing a contract within 1 year. As mentioned earlier, on Eobot for the same period you can, at best, break even. To get specific numbers, use a mining calculator.

How to withdraw cryptocurrency

The withdrawal button (Withdraw) is located on the bottom panel in your personal account. You will see a list of your accounts and information for each of them. Remember that you can only withdraw cryptocurrency from Eobot, and the options are limited: BTC, ETH, LTC, BCH, DOGE, XRP, DASH, TRX, ADA, CURE, XEM, XMR, ZEC, XTZ, BCN, STEEM, LSK are suitable for withdrawal , EOS, USDC, XLM, ETC and GRIN. The page will provide information about current fees and restrictions. Click on the currency you want to withdraw, indicate the address of the wallet to which you will withdraw coins, and also indicate the amount to send. Click the "Withdraw" button. After this, all you have to do is wait for the currency to be credited to your wallet. The conditions for withdrawing to fiat currency directly from your wallet may be different - it depends on which exchange you created your wallet on and, accordingly, on the conditions of the exchange itself.

Work principles

So, you have reached your goal, the main page of the site is in front of you. Let's take a look around. All digital currencies available for mining on the resource are displayed here. You can see for yourself that here it is possible to mine both the most popular digital money and lesser-known coins based on GryptoNote, which can also be noted as a plus. Every day, when you first visit the site, you will receive 1 Dogecoin (this is a bonus).

For mining, you can choose any of the available currencies. As for the hashrate that you will buy, not long ago the project introduced the opportunity to purchase a new version of SHA-256. If the word “buy” alarmed you, because initially it was about making money without investments, then you started to worry early. You don’t have to buy anything in the usual sense, and, as mentioned above, you don’t need to invest either. You will receive them inside the project by visiting the faucet. Subsequently, the coins collected there will be exchanged for the power you need. This process is quite lengthy, because after a week or even a couple of months you will be able to afford too little power. That's why we warned about the need for patience.

But let's talk about everything in order. Go to the top panel and click the “Products” tab there, and select Faucet from the list that opens. To log in, just enter the captcha. The faucet operates once every day and no matter what currency you receive coins there, they are usually enough to purchase 0.02 gigahash of SHA-256 power (version 4.0).

Having received a well-deserved reward, we go to convert it (in the sense of exchanging it) for hashrate (Exchange tab, panel below). Although, it should be noted, here you can exchange not only cryptocurrency for hashrate, but also for other currencies, in a word, a universal exchanger. But we are increasing our capacity so that we have the opportunity to earn enough amounts to withdraw (the minimums here are quite high, for example, for Dogecoin the amount must be at least 1000 XDG). If you want to exchange one currency for another, then please, this is not prohibited.

In the “From” tab, select the name of the extracted digital money, and in “To” – the name of what you are trying to exchange it for. In our case (when purchasing power), in the second tab you need to leave everything as it is, without changes. Next, click on the button with the word “Buy” (there is a long inscription there, meaning that you want to become the owner of SHA-256 for the next five years) and at the end you confirm the purchase. After all this, you will see the history of all your earnings and purchases on the service.

Getting started and reviews about Eobot

Before cooperation, the client undergoes standard registration and confirms by webmail. In the future, logging into the system takes place in 2 stages - enter the captcha, then code 2 FA, which is sent by email.

In addition to the free way to start mining with Eobot, you can enter dollars using the Epay system, which supports:

• Perfect Money and Payeer;
• AdvCash and FasaPay;
• Tether and Wire Transfer;
• Western Union and Ria Money Transfer.

Another way to create an account is to enter cryptocurrency, limits:

• BTC and BCH – 10,000 satoshi;
• ETH, LTC, DASH, ZEC - 100,000 satoshi;
• CURE, XMR, XRP – 1,000,000 satoshi;
• DOGE, FCT, MAID, GRC, ETC, XEM - 1 coin;
• BCN - 5 coins.

Users leaving reviews for Eobot were diametrically divided in their assessments - some consider the company unreliable, others are happy to cooperate.