HashFlare (HashFlyer): profitability, calculators, reviews 2022

is a cryptocurrency cloud mining platform where you can rent mining equipment. Plans are available for five major cryptocurrency algorithms (SHA-256, SCRYPT, ETHASH, EQUIHASH, X11). Since 2022, the company has stopped selling hashrate and mining coins.

☝️

Let us note once again that from the beginning of 2022 it is impossible to use Hashflare’s services, because the service does not sell hashrate.

Below we will talk in detail about the HashFlare mining service: what the portal offers, what is its peculiarity, why HashFlare became the object of scandals last year and what is the current state of affairs.

• What is HashFlare
• How to get started with HashFlare How to register on HashFlare
• Verification
• Personal Area

What is HashFlare

Mining on HashFlare15
HashFlyer

is a popular cloud mining service for cryptocurrencies. Here you can rent mining equipment (power) for a small fee and receive passive income in proportion to your investment.

The service initially appeared on the market in 2015 and was presented as part of the HashCoins company, a previously well-known manufacturer of software and mining equipment. HashFlare very quickly gained recognition from users in its sector and began operating as an independent enterprise in 2016.

☝️

Official website of HashFlare

The advantage of cloud mining with HashFlare is that even a technically untrained user can start mining on the portal. The company takes care of all the dirty work: setting up mining equipment, maintaining operation, selecting the most efficient and reliable pools. At the same time, the client protects himself from the troubles associated with mining at home, such as noise, heat or space.

☝️

Attention! In 2022, purchasing contracts still remains unavailable.

How HashFlare works

Reviews

There are only three reviews on the official website, all positive. On the Internet there are both negative and positive reviews about hashflare.io. Users like the prices, timely and fast payments, user-friendly interface and easy registration. Disadvantages include fees for money transactions and slow accumulation.

HashFlare reviews

We found several negative reviews about HashFlare. In them, users report divorce, account blocking, ignoring technical support requests, and money drains. And if the loss of funds can be attributed to the risks associated with the instability of the cryptocurrency market, then poor support and blocking of the page cast doubt on the quality of the service.

Reviews about HashFlare

How to get started with HashFlare

Getting started with HashFlare
Access to the functionality of Hashflare io is open only to registered users, so you need to start working with the portal by registering. You will also need to register a Bitcoin wallet, or use an existing one if you already have one.

As we have already said, the situation with the platform is very ambiguous at the moment. What you can do now and how to work with HashFlyer:

1. Visit the official website of the company listed above.
2. Register on the site.
3. Go through verification by providing your personal information.
4. Wait for Hashflare to resume selling hashrate.

☝️

As an alternative, you can use NiceHash - a reliable, proven cloud mining service.

But if you still decide to see how HashFlare works, below there will be detailed extended instructions on how to get started with this service.

How to register on HashFlare

Registration on HashFlare is quite simple and is completed in just a few clicks:

1. Go to the official website of HashFlare io.
2. Fill out the registration form.
3. Confirm your registration by clicking on the link sent via email.

Go to the official website of the service. On the main screen, go to the “Registration” section and fill out the registration form.

Registration on HashFlare io

After this, you will be sent an email link to confirm your account. Follow the link provided in the email to complete the registration process.

Registration on HashFlare

Once the account is activated, you can proceed to further steps.

Verification

☝️

Verification on HashFlare is not stated as mandatory, but if you plan to not only accumulate the mined coins, but also periodically withdraw them to your wallet (after the service opens the sale of hashrate), then you cannot do without going through this procedure.

User verification has 2 levels. The higher the level, the higher the daily limit for withdrawing coins.

Limits on withdrawals depending on account verification status

In order to get “Verification Level: 1”, you need to go to the “Settings” → “Profile” menu. Fill in all fields marked with an asterisk and click “Save.”

Verification on HashFlare

After saving the data, the system will automatically redirect you to the screen for obtaining “Verification Level: 2”. You can fill out the information immediately or return to this section later. To do this, go to “Settings” → “Verification”. You also don’t have to fill out this section at all if you are satisfied with the established limits.

To get “Verification Level: 2”, you will need to attach a photo of your identification document, indicate its number and take a selfie. All specified data is sent for verification to the HashFlare support service, after which you will be assigned a new verification level.

Verification on HashFlare io

Personal Area

Let's walk a little through the interface and settings of your personal account on HashFlyer.

All main portal options are available on the main page of your personal account. Here are some tips for working with the service, the balance for each cryptocurrency, as well as mining statistics for mining pools.

User's personal account

The left panel contains additional sections:

• Buy hashrate
  – menu for selecting a mining contract;
• History
  – data on the activity of the hashflyer account: conclusion of new contracts, withdrawal of funds, log of other transactions, etc.;
• Voucher
  – promotional code activation menu;
• Referrals
  – menu for viewing statistics on the referral program;
• Settings
  – in this section, the user’s personal data is filled in, wallet addresses for withdrawing coins are indicated, etc.;
• Help
  – a section with a user manual and a button to contact the site’s technical support.

Official website of HashFlyer and its sections

When you go to the main page of the hashflare.io website, you will see several buttons in the top menu:

• "Possibilities". Sends to the section a description of the key features of the service.
• "Price". Information about available HashFlare tariff plans.
• "What is this?" By opening the menu, you can find out details about cloud mining technology, mining in general, and Bitcoin. And also check out the list of frequently asked questions.
• "Media". A page where publications from authoritative resources about the project are collected.
• "About Us". Brief information about the company, ways to contact management.
• Login and registration buttons, and if a login has already been created, then exit it and go to your personal account (“To the panel”).

Also on the main page you can watch an introductory video about HashFlare, read reviews, see legal information about the company (registration number, address), find links to the project pages on social networks.

Types of HashFlare contracts

Contracts on HashFlare
HashFlare offers 5 types of contracts for cloud mining, which differ in the algorithm and cryptocurrency for mining:

• SHA-256 – for Bitcoin mining;
• SCRYPT – for Litecoin mining (earnings are credited automatically in BTC);
• ETHASH – for Ethereum mining;
• EQUIHASH – for Zcash mining;
• X11 – for mining Dash cryptocurrency.

☝️

All contracts have a duration of 365 days (1 year), with SHA-256 and SCRYPT contracts subject to an additional Maintenance and Electricity Fee (MEF) and ETHASH, EQUIHASH and DASH contracts at no additional cost.

Types of contracts on HashFlare

Hashflare profitability

How much can you earn on HashFlare?
The main principle of choosing a contract is its profitability. At the same time, mining income can be influenced by several factors depending on the chosen type of contract.

If we talk about Bitcoin mining on SHA-256, then your income will be affected by:

• Current mining difficulty, which can be tracked via the link;
• The amount of power directed to mining (purchased hashrate on HashFlare).

☝️

However, do not forget to take into account the maintenance and electricity costs that are charged to users daily and amount to $0.0035 for every 10 GH/s. The fee is automatically debited from the balance at the time the mined funds are credited.

Income from SCRYPT contracts for LTC mining depends on:

• Current mining difficulty, which can be tracked via the link;
• The amount of directed power for mining;
• Market rate of LTC/BTC, since profit is accrued after converting LTC to BTC.

SCRYPT contracts also include an additional service and electricity fee of $0.005 per 1 MH/s. The fee, just like when mining Bitcoin, is automatically debited from the balance at the time the mined funds are credited.

ETHASH, EQUIHASH and X11 contracts do not include any additional fees

, so their profitability depends only on:

• Current mining difficulty. You can track the graph of changes in mining difficulty using the following links:

• For ETHASH (ETH mining);
• For EQUIHASH (ZEC mining);
• For X11 (DASH mining).

• Purchased hashrate for mining.

For effective mining, it is necessary to constantly monitor changes in factors influencing the production of the selected cryptocurrency in order, if necessary, to reinvest funds in time in the purchase of another more profitable contract.

Hashflare Calculator

HashFlare mining calculator
To make it easier to decide on the choice of contract to purchase and its parameters, the HashFlare developers recommend using special calculators to calculate mining profitability:

• For SHA-256;
• For SCRYPT;
• For ETHASH;
• For X11;
• For EQUIHASH.

Using such calculators, you can calculate the approximate profit from mining provided that a certain amount of hashrate is used.

At the same time, we remind you that for SHA-256 and SCRYPT contracts, it is necessary to deduct from the income the maintenance and electricity fees mentioned above.

Let's look at calculating hashflyer profitability using Ethereum mining as an example.

Follow the link to the calculator and fill out the parameters. We set the minimum hashrate, according to the contract, and at the same time check the value of the current network complexity and the rate (adjust if necessary), and also reset the cost of electricity (we do not pay additionally for it).

Ethereum mining profitability calculation

At the bottom of the screen you will see an approximate calculation of your income when purchasing the minimum hashrate, according to the ETHASH contract.

Thus, you can analyze and select the optimal parameters of each contract and use only the most profitable options.

☝️

We recommend reading: Mining calculator: how to calculate the profitability of Bitcoin and cryptocurrencies

Project contacts

There is practically no contact information provided, but anyone can contact the fraudulent project by email. But the company's legal address is registered at 44/46 Morningside Road, Edinburgh, Scotland, UK, EH10 4BF. The project also has company number SL024271 . However, no legal documents are provided on the site, here you will not find any licenses, certificates, or even contracts, absolutely nothing that indicates bad intentions.

Cloud mining on HashFlyer

Cloud mining HashFlare
In order to start mining, you need to buy at least one hashrate rental contract.

Therefore, after you have decided on the contract and the required mining power, you can start shopping.

Purchasing hashrate

Purchasing hashrate is possible through the “Buy hashrate” menu on the left side panel or through the main page of your hashflyer personal account.

Go to the desired section and select the contract to purchase.

A slider will appear on the screen with which you need to select the amount of hashrate. As you move the slider, you will also be able to see the change in the contract value in USD and BTC. Once the contract parameters have been set, click the “Next” button.

Buying hashrate on HashFlare io

On the next screen, you need to check the entered data for the contract, you can activate the promotional code (if any) and click the “Select payment method” button.

Buying hashrate on HashFlare

HashFlare offers 4 forms of payment for capacity rental:

• Transfer BTC/BCH/ETH. At the same time, it is worth adding the commission of your wallet to the transfer amount;
• Payment directly from your HashFlyer account balance;
• Through the Payeer payment system;
• Credit card via Connectum or UniversePay. The option is only available for cards with 3DSecure enabled. In this case, you must first go through the credit card verification
  .

After choosing a payment method, the next step is to directly pay for the contract. As soon as the funds are transferred, the power will be credited to your account.

The first payments from cloud mining will arrive within 24 hours. In the future, payments will occur once a day from 00:00 to 13:00 UTC.

☝️

At the time of writing (March 2021), there is no option to buy hashrate on HashFlare. All contracts are sold out. As users note, such situations often happen on HashFlyer due to the limited capacity of the portal.

Setting up pools

Depending on your contribution to the total power of the selected mining pool, the HashFlare service calculates your income. The system by default distributes power between pools, but you can also independently select different combinations of hashrate distribution to find the most profitable option. At the same time, the system allows you to select up to three pools at a time, but this can be done no more than once a day.

To set up the operation of pools on HashFlare, go to your personal account, find the block with the desired mining algorithm and click on the image of the six. A settings window will appear in front of you.

Setting up pools on HashFlare

For the highest mining profitability, you should select the most powerful pools from the drop-down list and distribute power between them, according to the current level of their hashrate. Such information can be found on special services where pool statistics are collected. For example, you can view statistics on pools for BTC mining using the link.

To the right of the block with pools you can see the calculation of some profitability indicators according to the established parameters:

• Profitability per 1 TH/s – approximate amount of daily income. The value is updated daily;
• Profitability forecast – the estimated amount of payments per day, week, month, six months and year. The calculation is very approximate, since it does not take into account changes in the rate and difficulty of mining.

To get the maximum profit from mining, it is recommended to review the pool settings at least once a week.

Information about the Hashflare project

Hashflare uses high-tech equipment that allows it to achieve very high capacities. Also, this project allows you to connect to absolutely any pool, so participants have a huge choice and the opportunity to find the most profitable pool. All cryptocurrency mined by scam participants is divided among them in accordance with the size of their contributions, that is, investments in the company.

Among the features include a quick start, which allows you to earn money immediately after connecting and paying. The company also makes instant payments of any amounts at the request of users.

But in practice this is far from the case; Hashflare is constantly changing the conditions and withdrawal limits!

Moreover, there is the possibility of redistributing capacity, which allows you to select the most optimal combination among the pools and achieve the highest profit. The fee for using the service is always the same and does not have any hidden intentions. Continuous recording of detailed statistics allows users to monitor cryptocurrency mining both day and night, allowing for minute-by-minute monitoring. In general, the company suggests no longer investing in expensive equipment, but simply registering on the service, paying the required tariff and starting production.

Withdrawals and commissions HashFlare

Withdrawing funds to HashFlare
To withdraw funds from a contract, you must click the “Withdraw” button in the balance menu. Next, enter the amount to withdraw and confirm the operation. The appropriate wallet for withdrawal of funds must first be entered in the account settings.

Withdrawing funds to HashFlare

It is worth noting that only manual withdrawal of money

and only upon reaching the minimum amount for withdrawal:

1. For SHA-256 and Scrypt contracts – payout in BTC, minimum amount – 0.01000416 BTC;
2. For ETHASH contracts – payment in ETH, minimum amount – 0.10025 ETH;
3. For X11 contracts – payment in Dash, minimum amount – 0.1003 DASH;
4. For EQUIHASH contracts – payment in ZEC, minimum amount – 0.05003 ZEC.

☝️

Each withdrawal is subject to a commission as payment for the transaction on the network’s blockchain. The commission amount is automatically included in the minimum amounts specified above.

Working with the HashFlyer service

It is important to know that the interval between requests for withdrawal of a specific cryptocurrency is 24 hours. If everything is done correctly, the funds should arrive in your account within an hour.

In addition, you should be aware of actions that can trigger withdrawal blocking

on your account for 2 weeks:

• Changing your account password;
• Changing email address;
• Changing the wallet address for withdrawal;
• Payment for the contract with a credit card.

☝️

In addition to withdrawal, a reinvestment function is also available on HashFlyer. This is a very useful option that allows you to use the funds you earn to purchase additional capacity. The function is available for SHA-256 and Scrypt contracts.

To enable it, go to the “Reinvest” menu, which is located next to the withdrawal button.

Reinvestment function

Payment methods for HashFlyer contracts

Since the HashFlyer project is one of the areas of a large company, all processes in it are transparent.

all key payment systems as systems for paying for contracts

• WebMoney;
• Bank transfer;
• VISA/MasterCard;
• Payeer;
• Cryptocurrency
• Connectum Credit Card.

The last item on the list is subject to replenishment restrictions. So, to work with it you need to pass verification on the service.

It is important that the data specified in the HF matches the data of the card recipient.

This point is specially complicated to avoid fraudulent activities.

The second limitation on Connectum cards is that payments from them are not accepted if the card is issued by banks in England, as well as Bosnia and Herzegovina. The reasons within the platform itself are not described, but there is an opinion that this is related to the political sentiment of these countries towards cryptocurrencies in general.

Payment for the selected package is displayed in your account, as well as the purchase status.

Marks may be written in English and have the following definitions:

• Processed – payment under the contract has been credited in full, the transaction is completed;
• Pending – an acquisition in the process of waiting for the completion of a transaction. This mark indicates that some part of the transaction has not been completed. If you cannot determine the cause yourself, contact support;
• Rejected – cancellation of the purchase procedure. The reason may be failure to authenticate in 3D Secure, cancellation of the process by the user, or authorization not passed by the issuer (when paying with cards);
• Canceled – no confirmation of payment from the client within 48 hours. In such a situation, the funds are frozen for 5 days and returned to the account from which they were received, and the purchased package is deleted.

go

Hashflare History and Team

History of Hashflare
The Hashflare team consists of experienced miners, developers and engineers.

The company's head office is located in Tallinn, Estonia. The location of Hashflare's headquarters was not chosen by chance. The Estonian authorities encourage the development of the crypto industry and offer favorable tax rates and a legislative framework for the safe operation of such enterprises.

Hashflare Team

The company supplies computing power for cloud mining of Bitcoin, Litecoin, Ethereum, Dash and Zсash using the appropriate algorithms.

In its work, Hashflare gives preference to the most popular mining hardware companies, such as Bitmain and Bitfury. In addition, the HashFlyer company also independently assembles mining equipment and actively uses it in its work, which allows us to significantly reduce the cost of mining and offer clients the most favorable contract terms in comparison with other companies on the market.

☝️

Hashflare's facilities are located in data centers in the USA, Estonia, and Iceland.

During its operation, the service managed to attract more than 2.5 million investors. At the same time, the name of the service did not disappear from the lists of the most reliable portals for cloud mining. But since 2022, Hashflare's business has gone downhill.

How many people did Valentin Nazarov deceive?

The author of the scam is a scammer superbit26 , grazes on the E-Pay.club website, in company with dozens of other scammers. He actively promoted his divorce and achieved success: IN JUST A WEEK, 38,769 users visited his website . Fortunately, out of such a huge number of people, only 52 fell for the deception. They were swindled out of 11,224 rubles.