This is a review of Hashflare, a cloud mining company based in Tallinn, Estonia. If you would like to read my review of Genesis Mining click here.
Hashflare began in 2015 and was founded by Sergei Potapenko. They claim to have over 500,000 users. Hashflare is one of several entities under the parent company Hashcoins. The new digital banking and identity project called Polybius is part of Hashcoins.
According to the Hashcoins website their focus is "The development of cryptographic hardware, creation of blockchain technology-based solutions and provision of remote hardware access services."
As far as the mining operation goes that would differentiate them from their competitors, they don't provide a great deal of information. They have a few pictures on their mining operations on the website, but offer no videos. This might be an area of concern to consider.
As I am using their services I can tell you that I have had no issues and continue to receive my daily payouts. The payouts, by the way, are larger than what you get with Genesis Mining. The Hashflare referral program is also attractive as they are currently offering 10% to any new signups under your name. To give you an idea, Genesis has a tiered affiliate program that starts out at only 2.5% and requires at least $5,000 in referrals to be considered "gold" level and even that only pays a 4.5% bonus.
Hashflare allows you to split your hash power among different mining pools to attempt to make the largest profit. Under each of your mining contracts they have a nice feature in that it shows a revenue forecast box (see picture).
Because they are obviously fighting with Genesis Mining for market share, they are offering better rates. While I can't say for certain, this probably includes cost cutting in other areas such as customer service and convenience. They do, however, offer you to stop by and visit their office in Estonia.
The projected $3,259.29 payout is for my 1 year Ethereum mining contract at 50 MH/s. The contract cost me $1,090. If you're doing the math, that means that I will net over $2,000 in 1 year. That puts the break even point at a quick 4 months. And because I am locked in, if the price of Ethereum (ETH) increases, then my profit would be even greater.
Again, I haven't experienced any issues with them, but I recommend that you always do your homework before investing in anything crypto related.
If you decide that you would like to give it a shot follow this link Hashflare.io and for a 10% savings enter promo code BE07BAF.
