Hashflare full manual
- What is HashFlare?
- What cryptocurrencies can I mine with that service?
- How long does the contract last?
- How do I purchase hashrate and pay for it?
- Accept credit cards?
- How to calculate estimated profit using hashrate?
- What influences my income and profit?
- Maintenance and electricity fees.
- Why am I unable to withdraw funds from my account balance?
- I have purchased some hashrate. When will I get a payout?
- Withdrawals: currencies and commission fees.
- How to make a withdrawal?
- How do I change my wallet address?
- Hashflare or mining?
What is HashFlare?
HashFlare is a department of HashCoins, a company that develops software for cloud mining and maintains equipment in datacenters. You can find out more here.
Cloud mining offers a unique option for mining with a low cost of entry as well as minimal risk and expense, which is opposite to traditional models of mining that involve procurement, maintenance and configuration of highly specialized hardware.
Based on the data WHOIS service, the domain name was registered 15.12.2014 .
But site created at 18.04.2015:
- +44 131 564 0074
- Tartu mnt 43
- Tallinn 10128, Estonia
What cryptocurrencies can I mine with that service?
How long does the contract last?
SHA-256 and SCRYPT contracts last 1 year(365 days) and are subject to maintenance and electricity fees (MEF).
ETHASH, EQUIHASH and DASH contracts last for 1 year (365 days) and are not subject to any fees.
How do I purchase hashrate and pay for it?
In order to order hashrate you need to click Buy Hashrate in the left menu, choose hashrate and use the slider to set the amount. Then click the Proceed button. On the next screen you will see the pre-invoice.
If you are happy with your order, click on the checkbox below that reads “I confirm that I have read and agree with Terms and Conditions.” and click the Proceed button. You are now in the payment selection screen where you are to choose from BTC and USD payment methods. Upon selecting the method you will be taken to a page with the information how to pay for your purchase.
If you selected wire transfer as the selected payment method, please check the invoice that is sent to your contact email address for bank details.
Accept credit cards?
Service accept VISA and MasterCard. For security purposes any one-time purchase has a limit of 3000 USD and you are able to make one purchase per day with same card.
As an additional measure of customer protection upon purchasing hashrate using a credit card, the account gets a 14-day hold period, which only prevents withdrawals. Please keep in mind that support staff does not remove the account hold earlier due to security reasons.
How to calculate estimated profit using hashrate?
Profit is calculated via the deduction of expenses from income.
The income consists of daily payouts which size depends on the hashrate. In order to calculate an estimated income using the hashrate you will need to include it in one of the calculators below (set all Power values to zero):
- Bitcoin– for SHA-256
- Litecoin – for Scrypt
- Ethereum– for ETHASH (set all Power values to zero)
- DASH – for X11 (set all Power values to zero)
- Zcash– for EQUIHASH (set all Power values to zero)
Next, deduct the maintenance + electricity fee of 0.0035 USD per 10 GH/s of SHA-256 and 0.005 USD per 1 MH/s of Scrypt from the income. ETHASH, X11 and EQUIHASH contracts are not subject to any fees.
The sum you end up with is your estimated profit.
What influences my income and profit?
SHA-256 is used to mine Bitcoins (BTC). This means, that the only factor which influences the income is the mining difficulty. You can see the difficulty growth chart here – link.
Scrypt is used to mine Litecoins (LTC). This means, that there are 2 factors which influence the income:
1. the difficulty of mining (chart – link);
2. the exchange value of LTC/BTC (chart – link).
Scrypt payouts are converted from LTC to BTC and then added to user’s balance.
SHA-256 and Scrypt contracts are also subject to daily maintenance+electricity fees (MEF) which are deducted from each payout. Currently the MEF is 0.0035 USD per 10 GH/s of SHA-256 and 0.005 USD per 1 MH/s of Scrypt.
Once the MEF is deducted from a payout, the remaining amount is considered your profit.
BTC/USD exchange value also influences the MEF (chart – link).
ETHASH is used to mine Ethereum. As the payouts are provided in ETH, the only factor of influence is the difficulty of mining.
X11 is used for mining DASH. The main factor influencing the income is the mining difficulty.
ETHASH and X11 contracts are not subject to any additional fees.
Maintenance and electricity fees
The mining process requires energy consumption and human resources for the maintenance. In order to cover these fees all users are issued with maintenance and electricity fees (MEF) accordingly to their contract type and hashrate.
The MEF is linear and equals 0.0035 USD per every 10 GH/s of SHA-256 and 0.005 USD per every 1 MH/s of Scrypt per day. Ethereum contracts are not subject to any fees.
Maintenance and electricity fees are not billed in an invoice. Instead the fees are deducted from the customer’s balance at the moment of daily payouts. Despite the fact that balance is accounted for in BTC and the fees – in USD, the fees are deducted in BTC according to the current USD/BTC exchange rate which is beneficial for the customer in case the exchange rate trend is positive – more BTC remains in the customer’s balance.
Why am I unable to withdraw funds from my account balance?
You can make 1 withdrawal per currency every 24 hours.
To ensure customer’s account and balance security the system may automatically apply a hold, disallowing any withdrawals for the time the hold is active (14 days). There are multiple reasons for a hold to be applied:
- Change of a wallet address;
- Purchase made with a credit card;
- Change of password.
In addition, if a referral makes their first ever purchase or a purchase using a credit card, the account of the referrer is placed on hold for 72 hours.
Please note that technical support cannot remove the hold before it is automatically removed by the system.
I have purchased some hashrate. When will I get a payout?
All payouts occur once per day. You will receive your first payout within 24 hours after the purchase. Afterward, the payouts continue daily.
The payouts are made from 00:00 to 09:00 UTC
Withdrawals: currencies and commission fees.
Withdrawals for SHA-256 and Scrypt contracts are available in Bitcoin only.
Minimum Bitcoin withdrawal amount is 0.0109 BTC.
Withdrawals for ETHASH contracts are available in Ethereum only.
Minimum Ethereum withdrawal amount is 0.1006 ETH.
Withdrawals for X11 contracts are available in DASH only.
Minimum X11 amount is 0.1003 DASH.
How to make a withdrawal?
In order to send/transfer funds from your account balance to your wallet, you need to make a withdrawal. You can create 1 withdrawal per currency every 24 hours. In order to do so, you will need to follow these steps:
Each withdrawal must be requested and confirmed by the user on an individual basis. Automatic withdrawal function without the direct involvement of the user is not provided by the system. In order to confirm a withdrawal, please find an email from email@example.com in your email inbox.
Withdrawals are processed immediately after confirmation and the coins usually arrive within under an hour. If the funds are still not in your wallet after 24 hours, please submit a support request.
How do I change my wallet address?
You need to log in and go to Settings;
Find an appropriate field and enter/change a wallet address. After you’re done – save the changes;
Go to your email service and find an email from us. There will be a confirmation link which you need to click. If there is no message, check your “Spam” folder.
Changing the wallet will temporarily block withdrawals for 2 weeks due to security precautions.
Hashflare or mining?
At first look at year profit from mining, for example lets look on BITMAIN AntMiner S9, cost 3696 $.
Now from that device you will have near 600 $ per month, and * 12 = 7200 $.
7200 – 3696 = 3507 $ net profit.
BUT it is have 6 Month Warranty!
Hashrate BITMAIN AntMiner S9 have 14 TH/s
One terahash (= 10^12 hashes) equals 1000 gigahashes.
On Hashflare 10 GH/s cost 1.5$