Cloud mining Hashflare: review, profitability, reviews 2022

Nadezhda Zakharova 02/20/2018

For everyone who associates themselves with mining and speculation on cryptocurrency exchanges, the key question remains relevant - how to make the process more profitable and safe, in view of recent events.

The search for a solution increasingly leads to the understanding that investing in cloud mining is the most competent solution, allowing you to receive passive income for quite a long time on a one-time investment.

Moreover, competent speculative actions will allow you to increase your profit significantly, but that’s a completely different story.

In this article we will look at one of the reliable cloud mining services - HashFlare .

Review of the site, registration in the project, input and output methods, as well as prospects and profitability of HashFlyer in 2022 in one article. Let's start in order.

Cloud mining

Before considering the specific service that is the object of this review, it is worth briefly reminding that part of the readers who were looking for answers regarding mining for the first time, what it actually is.

Cloud mining is a type of investment in cryptocurrencies, which consists in the fact that the user rents computing power from the site, all profits from which are sent to the client minus a service fee.

Since the presentation of Bitcoin, the number of services offering cloud mining has become alarmingly large.

However, a considerable number of projects turned out to be fraudulent schemes or banal pyramids, which initially had no desire to purchase equipment and connect it to the cryptocurrency mining process.

One of the projects that has outlived many competitors and continues to work honestly and competently in this difficult market is Hashflare.

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Reliable investment in Bitcoin mining - HashFlare service

Almost every person who has managed to collect a certain amount of money would like it not to lie like a dead weight, gradually losing its value, but to work, bringing material and moral satisfaction to the owner. In this regard, the question arises, where to invest funds so that it is a reliable and long-term investment? Nowadays, thanks to the development of new technologies, the range of such options has expanded significantly. One of the opportunities to ensure a constant income is to invest in cloud mining, in particular, in a service such as HashFlare.

Why in it? Here are a few reasons that, in our opinion, look quite convincing:

1. In this service, power can be purchased for very little money. For example, for just 1 dollar and 20 cents you can buy 10 Gh/s here and start your investment career in the field of cryptocurrency mining.
2. Here are the most reasonable electricity costs. You understand that they are not selling you the equipment itself, but its power. And equipment installed in data centers cannot operate without electricity, which must be paid for. And each miner must pay his share.

The service we are considering has data centers in countries where the cost of electricity is lower compared to others, which means the costs for this expense item are lower. Although in fairness, it should be noted that other similar companies are also striving to reduce the cost of electricity.

1. By all indications, HashFlare cannot be classified as a HYIP company. The resource has been working for several years and looks like it will work for at least a dozen more. Why are we sure of this? First of all, because it is constantly developing, subsidiaries are opening, like its own cryptocurrency bank, and there is no point in destroying all this, derailing your own product and a lot of efforts to develop and promote it.
2. Perhaps the fourth argument may seem “lyrical” to some, but to us it seems quite important, because we are talking about your freedom. Yes, yes, exactly about her. Judge for yourself, when doing regular mining, you are tied to the equipment, it is difficult for you to plan any trips, since this entails losses, etc.

Cloud mining is a completely different matter. You paid a certain amount for the power and that’s the end of your troubles. Once a day you need to go to the site to withdraw your earnings, if you are not going to invest it in expanding your business on this resource.

1. HashFlare quite often holds promotions, as a result of which you can buy power slightly cheaper than their regular price (by 5-20 percent).

Hashflare cloud mining. Information about the company

Cloud Mining HashFlare is a division of the HashCoin company.

This company is at the origins of the cryptocurrency industry and produces equipment for mining, as well as creates and hosts online services on its premises and provides technical support.

HashCoin started in 2013 and developed very actively in the chosen direction. A strong start was ensured by the money of the founders, and development was ensured by competent work with investors and partners. Today, more than 450,000 private and corporate clients use the company’s various services.

As a division, HashFlare develops software for cloud mining and ensures high-quality operation of its mining equipment in data centers.

The division’s mission is “Providing everyone with the opportunity to participate in mining even with limited financial, technical capabilities and/or complete lack of experience.”

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Personal account overview

On the main profile page in the HashFlare personal account, the user sees the balance, detailed statistics, and buttons for withdrawing or reinvesting funds.

The side menu contains sections:

• “Buy hashrate.” A menu of currently available contracts opens.
• "Story". Information about all activity on the cloud mining site: the start and end of contracts, withdrawal and transfer of funds.
• "Voucher". Activation of promotional codes and discounts on purchases.
• "Referrals". Statistics on the referral program and many types of banners for websites.
• "Settings". Filling out personal information and contact information. Specifying details. Activate two-factor authentication. Account verification (increases withdrawal limits).

Finally, in the help section you can find several tutorials on using the service and frequently asked questions.

Mining with HashFlare.io. Registration and start

The starting process is no different.

After filling out the registration form, you must confirm your registration via a letter sent by email and carefully study all the conditions for future work.

In short, the principle of operation of the site comes down to three parameters displayed in the infographic.

Now you need to create a digital wallet, which will receive accruals from the operation of the purchased capacities. There are several options:

• An online wallet that supports the currency in which payments are made to HashFlyer ;
• Create an account in a multi-wallet, where each currency will have its own address generated;
• Register on a cryptocurrency exchange and enter the exchange account address in your account.

All proposed formats have the right to life and are actively used. The specific format for transferring funds from HashFlyer to choose is influenced by the goals pursued by the user receiving the coins.

After completing the preliminary procedures, it is time to select the currency to mine and the power you are going to purchase.

Reviews of HashFlare cloud mining indicate that the SCRYPT miner offer is the most popular among clients. The power working under this algorithm allows you to mine Litecoin and some other coins. But, at the moment, the most profitable tariff, the most profitable with minimal risk, is SHA256.

You need to understand that the user enters into a contract to rent a selected amount of power located on the company’s equipment side for a period of 1 year.

The terms of the contract indicate the purchased hashrate, as well as the tariff for equipment maintenance during the reporting period.

Now we move on to determining the power leased from HashFlare.

The picture shows the cloud mining calculator HashFlare , which automatically calculates the amount to pay for the selected hashrate.

After selecting all options, you are transferred to the payment page.

The ordered capacity is allocated within an hour from the moment of payment and after 24 hours the user sees the first profit.

The client has two options for actions with the income received:

• Withdrawal of coins to the created wallet;
• Reinvesting in purchasing more hashrate to increase profits.

Among the project’s clients there are quite a few who, with the help of reinvestment, increased their capacity to impressive values, providing them with a full flow of coins.

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What's good about the service?

The cloud mining service HashFlare has many attractive points:

• Let's start with the fact that the 2 most popular languages ​​are supported here - English and Russian.
• The equipment is connected almost instantly after making a purchase.
• The contract period is not limited and, judging by the encouraging characteristics of the resource, you will be able to cooperate with it for a long time and with mutual benefit.
• Mining statistics in the project are detailed and accessible to every miner.
• The service fee is quite low and has a fixed amount. Profits are withdrawn automatically, and prices for purchasing capacity are among the lowest among similar platforms.
• Your hashrate is distributed among several pools. Well, and so on.

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.

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Beware of scammers

At the end of 2022, a very large number of fraudulent resources began to appear around the HashFlyer service, which take money from users, but naturally do not provide any income.

Remember! The correct, real address of the HashFlare website is https://hashflare.io If the address of the site you found differs by at least one character, then with a 100% probability you are faced with scammers. Close this resource and forget it like a bad dream, or even better, add it to the black list. You can also distinguish a scam site by the absence of an SSL security certificate (green padlock next to the browser address bar). The real site has it, so if you haven't found it, then... however, you already know what to do.

We wish you to go only to “white” sites, find good passive income for yourself, and let the cryptocurrency you sell always go at the most favorable rate. Have a nice cloud mining, dear friends.

HashFlare profitability. Fine-tuning pools

HF offers to add purchased hashes to pools of one of the types - BC, BW and SL.

The choice is made based on the current situation in the mining sector, since some trends have already emerged there.

Nobody evaluates pools on their own. There are specialized online resources for this, for example, https://blockchain.info or https://btc.com, which provide up-to-date and accurate information about the current efficiency of pools working with the SHA-256 algorithm.

For those who have power on the Scrypt algorithm, reviews of HashFlare recommend https://www.litecoinpool.org/pools.

Ethereum pool forecasting is carried out by the site https://etherchain.org/statistics/miners.

For those who do not have sufficient experience in assessing the intricacies of mining pools, HashFlare suggests using the recommended pools, choosing the fastest one.

At the moment - February 2022 - the profitability of pools on HashFlare is as follows:

HF offers yields of up to 120% per annum. Reviews about HashFlare confirm the numbers stated by the project. We were able to collect some statistics among the project participants confirming HF’s assurances.

It is distributed among the algorithms and looks like this on average:

• SHA-256 - 120%;
• Scrypt - 115%;
• Eterhash - 90%;
• X11 - 80%;
• Equihash - 80%.

An analysis carried out by users who have serious power in the project shows that this ratio will remain in the near future, but may vary slightly depending on the market situation with cryptocurrencies and the technical base of HashFlyer.

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Advantages and disadvantages

Let's look at the advantages and features of the service. The main advantage is that Hashflare offers power at a relatively inexpensive cost. The following features of the system are also advantages:

• low entry into the company (to purchase one contract you will need to invest only $1.2);
• the ability to mine not only Bitcoin, but also other cryptocurrencies;
• the ability to automatically reinvest using the two most popular algorithms: SHA and Scrypt;
• the ability to pay for the purchase of capacity directly from your balance;
• the ability to pay for capacity using methods such as bank transfer and electronic money;
• the ability to top up your account with cryptocurrency;
• simple and intuitive control panel;
• the ability to select a pool and configure shares (for advanced users);
• receiving earnings reports;
• receiving bonuses, activating promotional codes;
• almost instant payments;

However, the service also has several disadvantages. So, if you work with it for a long time, you will notice several bugs, especially with the “Referrals” section. Payment diagrams, which in themselves can be called a plus, are displayed without taking into account service fees, i.e. they contain slightly unreliable data. Reinvestment can only be done in bitcoins; other currencies can only be withdrawn.

HashFlare profitability calculator

The balance of coins earned by purchased hashrate is changed once a day.

Income is calculated using the following formula – Profit = income – expense.

At the very beginning of the material, in the table with the types of algorithms and conditions, opposite some packages was the amount charged by the project for equipment maintenance and electricity payments.

For SHA-256 the cost is $0.0035 per 10GHash/s, and for Scrypt $0.005 per MHash/s.

Separately, it is worth noting that payments in the examples with commission fees are made exclusively in BTC, therefore the profitability of working with cloud mining in general will also be affected by its exchange rate. Competent work on the stock exchange will significantly increase your profit.

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Tariff plans based on different algorithms

The system offers a choice of five tariffs for renting hashrate - five mining algorithms for different coins. Each of them is accompanied by a detailed description. You can buy a tariff:

• SHA-256. This is the most favorable tariff (at the beginning of 2022), the cost is 2.2 US dollars per 10 MH/s. The service fee is $0.0035 / 10 GH/s / 24h. There are automatic accruals in BTC.
• SCRYPT. Its cost is 7.5 US dollars per 1 MH/s. The standard contract is for one year. The minimum hashrate is 1 MH/s. Earnings are credited automatically in BTC. The service fee is $0.005 / 1 MH/s / 24h.
• ETHEREUM. The tariff price is 2.2 US dollars per 100 KH/s. There is no service fee and the contract period is also 1 year. Accruals are automatic, in ETHEREUM currency.
• ZCASH. Cost – 2 US dollars per 1 H/s. There is no service fee, the tariff is valid for 1 year. Payments are calculated automatically, in the ZEC cryptocurrency.
• DASH. Cost is $3.20 per MH/s. Purchased for one year, no subscription fee. Earnings are paid automatically in DASH cryptocurrency.

The service sometimes closes new contracts for acquisition if the capacity for them is currently completely sold out. When power increases (new equipment is added), tariffs appear on sale again (you need to monitor the offer on the website).

Cloud mining profitability calculator

After registration, you can calculate the return on investment in the HashFlare calculator.

Calculation is available for mining four coins: BITCOIN, ETHEREUM, LITECOIN, DASH. When calculating, real current service tariffs and the current complexity of the network of the selected blockchain are given.

Withdrawing funds from HashFlare

Many clients, especially those who have registered recently, torment users of thematic forums and project support with questions - “Why is the withdrawal function blocked in my account?”

This practice does occur, but it is not associated with specific clients, but with certain account transactions.

The coin withdrawal function is frozen for 14 calendar days in order to exclude fraudulent activities or theft of funds from the account during hacking.

Here is a list of situations leading to the activation of freezing:

• A change of the pin code. This procedure can be carried out by attackers to withdraw assets from a hacked account. Freezing gives the owner time to report the problem and restore access;
• Payment for the selected contract by credit card. The freeze is activated in case the card issuing bank declares that the payment was made from a hacked card or through fraudulent actions of third parties;
• Changing the address for withdrawing coins. This point is important because account hacking may occur with the substitution of destination accounts;
• Referral purchases from credit cards. For some blockchain projects, schemes were relevant when scammers created a “white account”, and referral accounts were replenished from broken payment and credit cards in order to receive a reward. The freeze here aims to prevent such patterns.

This function was introduced by the project management and is prescribed as a prerequisite for working with HashFlare cloud mining.

Support staff and program administrators do not have the authority to remove or reschedule a lock.

Amounts to be withdrawn:

• Scrypt and SHA-256 output to Bitcoin (BTC) – 0.05BTC;
• ETHash is paid out in Ethereum (ETH) – 0.1006ETH;
• X11 is paid in Dash – 0.1003DASH;

Note the small fraction of a coin at the end of the amount - this is the network commission for the transfer, already included in the minimum amount. These withdrawal minimums are deliberate because key trading platforms and exchange machines rarely accept smaller payments.

The withdrawal process occurs through your Personal Account and is represented by a certain algorithm:

• Click the Output button ;
• Enter the amount you plan to withdraw;
• Confirm the action in accordance with the instructions in the letter.

HashFlare cloud mining does not support periodic automatic payouts for security reasons.

Other projects often received a lot of negative feedback when such payments stopped coming to clients due to the fact that scammers replaced the recipient's addresses.

Each seizure is accompanied by mandatory user participation and verification of all details.

The established payment time is 1 hour from the moment the withdrawal is confirmed.

Any delays are a reason to contact support.

On a separate line. Any cryptocurrency transfers are carried out with the payment of a network commission. Due to the high hype for key coins, the network is overloaded with failed transactions hanging due to the low commission specified by the sender. Transfers with a higher commission are processed first. In view of this, the service reserves the right to increase the commission fee to amounts that allow transactions to be carried out within the hour established by the regulations.

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experience

Users of the service are people with different financial situations. Some people invest just a little bit, while others invest thousands of dollars in the system. HashFlare clients are, first of all, pleased with the generous affiliate program, which allows them to earn additional money on HashFlare.

Cloud mining is an area where scammers often operate, and HashFlare is a company that has already proven its clean reputation. Moreover, users note that the company offers fairly good prices for purchasing contracts for earning Bitcoin and other cryptocurrencies.

Some users note that working with the company is less profitable than they expected before they started mining on HashFlare. So, for example, the tariff indicated one return, but in fact the investor received a smaller amount of funds. As a rule, such cases are not associated with the dishonesty of the company, but with the constantly floating exchange rate of Bitcoin. Nobody knows what it will be like tomorrow and how much an investor can earn from it.

Benefits of HashFlare.io

The review would be incomplete without identifying a list of key advantages over other sites:

• Efficiency. Activation of purchased capacities is carried out in the first hour after payment and after 24 hours the first profit is already visible;
• Availability. You can purchase the smallest hashrate, which will allow you to start with a small amount and increase your investment;
• Powerful pools. Connecting to TOP pools allows you to quickly receive rewards from blocks and pay a minimum commission;
• Remote access. Beneficial because the client does not have to deal with the problems of placing equipment, paying bills for energy consumption, solving the issue of high noise levels and ensuring operability;
• Mobility . The client is free to choose the pools to work with and transfer capacity in any format to achieve maximum profit;
• Referral program. For attracted participants, the referrer is awarded 10% of the power acquired by the partner;
• Protection. The service supports two-factor authentication;
• Reinvestment. Coins from the internal account can be invested in purchasing new power for any algorithm;
• Convenience. The interface is simple and not intrusive, the operation of the service is made as simple as possible;
• Statistics. All information on the operation of contracts is collected in a convenient format and is available in real time;
• Mining of key coins. Tariffs allow you to mine the most popular coins - BTC, LTC, DASH, ETH, Zcash;
• Simple conclusion. When you reach the minimum amount for withdrawal, you can create a withdrawal request every day;
• Competent and prompt support. Operators work 24/7.

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Price rating

More or less 0.00178 BTC/GHS Bitcoin Cloud Mining Contracts at HashFlare, which put them in place as the most expensive contracts when writing this review. There is only one company in my review list that beats the HashFlares rate, and it is one percent more expensive. In the industry, HashFlare is pegged to one of the highest rates in a Bitcoin mining contract.

Having said that, they certainly offer discounts. One example of this is that during the summer of 2015, it is 10 percent for a purchase of 100GH/S or even more, and then twenty percent for a purchase of 5 TH/S or even more.

One of them successfully buys the accounts, then they can start using the services at a lower price. On the other hand, they also offer low maintenance plans that are affordable and you would love their cloud development services.

Disadvantages of HashFlare.io

The following cannot be called disadvantages in the full sense of the word, since they do not pose a threat to the security of funds, but users who leave reviews about HashFlare note their dissatisfaction this way:

• Manual payments. Many complaints are received about the lack of automatic payments, as in other projects. The administration spoke quite harshly on this issue and noted that spending 2-5 minutes on drawing up an application for payment and confirming it is safer than complaining about hacking or substitution of payment details;
• Slowness. It is often noted that the site could work faster, but it is extremely difficult to ensure full operation of a site that has more than 400,000 clients, making it safe, and even fast, without introducing additional fees from clients.

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Dashboard rating

HashFlare also has a very amazing cloud computing interface that you can work on. I guess they proposed to become one third of all cloud business companies with their features and materials.

Payment withdrawal is also very smooth and it has a two-way authentication process that will be sent via email. Their dashboard interface shows a graphical representation of balances, earnings per day/TH, overtime overtime and mine pool distribution.

All information was organized in tabular form. The advantage of HashFlare is the distribution of the mining pool, where users can pick or choose a pool that other companies do not have.

How to mine on Hashflare

We would like to introduce you to the main features of cryptocurrency mining using cloud technologies on this service:

• Mining starts almost instantly after payment is made. You can withdraw your cryptocurrency earnings after 24 hours.
• Clients do not have any time restrictions; they can mine as much as needed.
• You can withdraw money instantly, but you need to take into account that the Bitcoin transaction is a residual process, but despite this difficulty, receiving the payment will be completed within 3 to 4 hours, after which the funds will be in the exchange wallet.
• You can receive information about the mining process within 24 hours. There are no breaks for maintenance or other inconvenient moments. Some may claim that the service did not work in the period from 30.07 to 01.08. But in fact, the entire network associated with Bitcoin was standing.
• It is possible to independently distribute capacity between pools in order to find the most profitable option. Remember to take pool fees and minimum payouts into account.
• A pleasant circumstance can be considered the absence of covered commissions , that is, you will pay only those funds that were shown to you upon withdrawal.

This invention allows any person, even without knowledge of technology, to mine coins of different types around the clock.