Best Bitcoin Mining Comparison. Hashflare vs Genesis Mining
Bitcoin Cloud Mining Comparison List. Top Cloud Mining Contracts Reviewed

Hashflare.io Review

Hashflare.io

Hashflare.io
9.3

Cost

9.9/10

Reliability

9.9/10

Support

8.0/10

Pros

  • Immediate payouts if hashpower is purchased from bitcoin
  • Unlimited contract length
  • Partner program

Cons

  • Maintenance fees for litecoin and bitcoin
  • In case of wire transfers they charge a commission fee
  • Short FAQ section

About Hashflare.io

Address

Hashflare, Tartu mnt 43, Tallinn 10128, Estonia

Coins:

bitcoin, litecoin, ethereum, zcash, dash

Hashflare turns cryptocurrency mining accessible to everyone. There is no need to buy expensive and complex mining equipment, Hashflare wants to make mining accessible for all users around the globe no matter of age or background. The clients only need to select a desired hashpower and start generating revenue right away with the Hashflare cloud mining service. Earnings with cloud mining becomes more predictable with Hashflare than it used to be during traditional bitcoin hardware mining. The hashrates starts from as little as 10GH/s, so new clients does not need to invest a lot of funds to join the cloud mining business.

Services Provided

Scrypt, SHA256, Ethash, Equihash and X11 algorithms are all running on the GPU equipment provided by Hashcoin. The contracts are all available from 24 hours contract time up until lifetime accesses, except for Ethereum and Zcash where the length of the contract is maximized in 1 year.

Instant payouts at HashflareThe cloud mining results at Hashflare show up on the client accounts immediately after payment confirmation and the client receives the first payout just 24 hours after the first block mined. Clients can choose the withdrawal methods from bitcoin, credit cards and wire transfers.

The Hashflare mining contracts can be signed from one day up to unlimited time. Clients may use Hashflare services as long as they wish to do, there is no time limit applied. Users allocate their hashpower directly to the mining pool they wish to serve in.

At Hashflare, users can join any mining pool they with to do, so the most profitable combination of cloud mining activity can be reached for any client. Then the mined cryptocurrencies are distributed among the Hashflare customers based on their share they bought at the company (PPS method).

Online statistics available at HashflareAt registration, Hashflare asks for the country of residence and for the date of birth as well beside the usual user name and password. This information is only used in case of security questions asked if they think the account has been compromised.

Hashflare also provides detailed, real-time statistics about the mining activity.

They are running a partner program, where the clients can earn up to 10% commission on each purchase of the recommended new user makes.

Fees and Pricing Schedule

As Hashflare provides cloud mining for 5 different algorithms, the pricing is tailored to each cryptocurrency individually. Users may start cloud mining as little investment as $1.20.

The fees are based on hashpower and also they apply certain maintenance fee also based on the supplied hashpower during a 24 hour window. Maintenance fees are only applicable for Scrypt and SHA256 mining, users mining Ethereum, Zcash or Dash cryptos does not pay any maintenance fee at all. Although on the other hand, these later three currency contracts are only avaliable for 1 year term. Zcash cloud mining has only limited supply at the moment as they only maintain the mining activity until it is profitable for the users.

Cloud mining prices are expressed in the form of minimum hashpower provided:

  • Bitcoin with SHA256 algorithm costs $1.20 per 10 GH/s,
  • Litecoin with Scrypt algorithm costs $8.20 per 1 MH/s,
  • Ethereum with Ethash algorithm costs $2.20 per 100 KH/s,
  • Zcash with equihash algorithm costs $2.00 per 0.1H/s,
  • Dash with X11 algorithm costs $3.20 per 1MH/s.

Hashflare partner program earns up to 10% per recommended new clientHashflare charges a maintenances fee of $0.01 for 1MH/s litecoin hashpower and $0.004 for 10 GH/s bitcoin hashpower daily, after each 24 hour long mining period. These maintenance fees are not billed to the customers, but deducted directly from the mining results at daily payouts. The fees are deducted in bitcoin based on the daily BTC/USD exchange rate provided by Hashflare.

The cloud mining company accepts wire transfers in USD and EUR, although they charge an extra 10 EUR commission fee on all purchases below 50 EUR. VISA and Mastercard are also accepted payment methods but they apply a 3000 USD limit per daily purchases for these. Due to customer protection, on the accounts where the hashpower is purchased with credit cards, there is a 14 day holding period, when the accumulated mined currencies cannot be withdrawn from the account. The immediate payouts are appearing on those accounts where the hashpowers are purchased from bitcoin.

Hashflare only allows withdrawals beyond the minimum set for bitcoin at 0.0004BTC and for ethereum at 0.0007ETH. At withdrawals they only charge the transfer fee to the blockchain that is 0.0003 BTC and 0.0006 ETH respectively paid to blockchain.

Bitcoin cloud mining at Hashflare

Hashflare.io User Experience

Hashflare.io has a space themed website where it is easy to navigate. The landing page provides all the necessary information for the cloud mining service they offer.

Clients like the user friendly interface and the low initial cost of the cloud mining that Hashflare provides. Although sometime issues arise, according to the user feedback the support team handles all problems quickly and diligently. The Helpdesk is operated through Zendesk platform, so they make sure all issues are taken care of.  The FAQ section does not have too many prewritten questions, but includes the most frequent ones and also has a search functionality so users can find solutions quicker.

Hashflare care about security. For DDOS protection they are using CloudFlare services and they also recommend for users to use two factor authentication. The website is available in 11 different languages, beside English, Russian, German and Portuguese, the Greek, Turkish, Japanese, Chinese customers can read the pages on their mother tongue.

Hashflare platform

Overall Conclusion

Hashflare has a very strong hardware background with the cloudminers supplied by HashCoin. They offer cloud mining for five different cryptocurrencies. The contracts last as long as the mining activity – after the maintenances fees charged – is profitable for both bitcoin and litecoin. Hashflare is a good cloud mining choice for those who want to try crypotcurrency mining but doesn’t want to invest too much money upfront as their minimum plan is starting from $1.20. Due to their fee structure however cloud mining on a big scale at Hashflare can become very expensive.

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  • Now that the cards are on the table...


    First off let me say that I am in no way shape or form a professional in law, accounting, or taxation by any means. Any decisions made based off of my suggestions are solely and entirely your own, and I shall not be held liable.

    Now that we all have taken a loss from Hashflare, there are several things to consider before taking any form of action.

    1. Filling out the profile information with anything other than accurate details is FRAUD. Think about things very carefully before you do it. Most of us are in different countries other than where Hashflare is alleged to be (UK) and where Hashcoins is alleged to be (Estonia). Doing so could lead to serious repercussions on grand scheme of things, like on an international level.

    2. Filing for a chargeback alone is risky business. Consult with your bank/creditor before filing. One caveat you should consider is that IF you took anything from your account on Hashflare, this too would be an act of FRAUD.

    3. There are plenty of users thinking class action lawsuit. If you decide to go this route, keep in mind that you will be exposed. Hashflare is going to air it all out. They aren’t going to keep your privacy in mind at all. IF you chose to act on statements 1 or 2, and attempt to collect on a class action, then you are committing FRAUD and could be exposing yourself.

    4. If you withdrawal anything from Hashflare whatsoever, then you cannot claim that you were scammed. Not exactly. Did they prematurely cancel A LOT of contracts? Absolutely! Was it in accordance with the TOS? Unfortunately. But, are the TOS even legally sound? I’m not a lawyer. That’s for the legal system and community to decide (assuming there’s a jury trial). Did they do everything in their power to prevent it? Probably not. Could they have done other things to prevent it? Sure, but again, only the legal system and public can make a decision as to what they did was justified or not. We don’t know everything behind the scenes. This is mainly because of how secretive they have been. Fortunately for us, this is actually a good thing. Anything they have done that was illegal could reflect back to each of us IF we were aware of what they were doing and continued to conduct business with them.

    5. When Hashflare exposes its list of PII, because they will. They know everything that I’m suggesting. This is going to put all of us on the crypto radar. Wallets paid with, wallets paid to, they probably won’t hold back. Everyone should know, this is going to lead to a lot of financial issues in regards to taxation. If you have done anything illicit with those wallets before or after, it’s going to be figured out in due time. The pseudoanomynity of BTC is fading. They already told is both in the TOS and Privacy Policy they will do it.

    What I am getting at is plain and simple. As I said in my last post, we all played the game. Don’t be stupid. Think very carefully about what you do before you make any rash decisions. Actions have consequences. Consider everything, even the possibilities that I haven’t pointed out. Collectively we still can out smart them, even with the ding dongs that just don’t get it.

    Know your options, research them, and consult with experts in the realms which those options cross into. Plan carefully. Strategy is key. Make sure your actions are sound in every aspect before you execute, and be aware of the possible outcomes of each action.

    I know what I’m going to do. Before I go giving any ideas, I’m going to take my own advice and research my options. I’m going to call in the pros to which each execution pertains to. I’m going to educate myself in every aspect that relates to this topic, so that I can make an informed decision.

    Consider this like a game of chess... since most people consider the queen the 2nd most important piece on the board, I’m going to call this your (our) money. You, me, every single one of us are the king. Their moves ultimately will be the same, with some variations to each of the cases where people cancel the contracts, and chargebacks, and falsify information. Each one of these is a surrender in some way, shape, or form. Know your pieces, know your plays. If you get a pawn across you can get your queen back, but you can still loose. At the same time, you can loose your queen, and still win. Either way, I’m going to play with style, I’m going to evaluate each move, and strategize. Mark my words...

    As I stated in the beginning, I am not an expert in any matters pertaining to this issue, nor am I qualified to give any advice. I shall not and will not be held liable for any actions that you make based off of my suggestions.

    Second post, soap box dismounted

    submitted by /u/urgodfather
    [link] [comments]
  • [IMPORTANT] The operation of SHA-256 contracts has been suspended at this time


    Email from Hashflare; still doesn't say anything; they are avoiding confirming whether contracts are terminated or suspended.

    Dear users!

    Due to the fact that since the beginning of last month HashFlare LP has been suffering losses related to maintenance of equipment and electricity fees, we had to make the difficult decision of stopping the mining service of SHA-256 contracts.

    This decision was a necessary measure, as otherwise we would be forced to charge our users additional maintenance fees.

    Despite the current increase of the BTC/USD exchange rate, the situation on the market has not improved significantly during the month of unprofitable mining: hardware suppliers are still not able to meet halfway and lower the prices for equipment and/or its rent, and without a radical change in location of equipment, it is not currently feasible to reduce the electricity fees.

    Since shutting down and re-commissioning a large quantity of equipment to different locations is a very expensive and labor-intensive process, before making any decisions about further steps, we anticipate news of a change in the current mining difficulty trend.

    We would also like to inform you that in the coming days the withdrawal functionality will be improved to allow verified users to withdraw amounts less than 0.01 BTC.

    We will keep you informed of any further developments, stay tuned for more news.

    Respectfully,

    HashFlare team

    submitted by /u/ianmd
    [link] [comments]
  • How to withdraw below .01??


    How do I get my .007 BTC out of Hashflare? My contract is expired. I was able to withdraw .01 BTC but now it says .007 is below limit. I submitted a request through the contact from yesterday but do they even respond to anyone anymore?

    submitted by /u/goodguyr3d
    [link] [comments]
  • Hashflare terms and conditions Dec 2017


    I am in a dispute with Hashflare over their changing the terms and conditions of their service from DEC 2017 when I signed up, to June 2018.

    Does anyone out there happen to have a copy of the terms and conditions from Dec 2017 so that I can prove that the terms I signed up for differ from what they have sent to my credit card company?

    any other suggestions are appreciated

    submitted by /u/shlick11
    [link] [comments]
  • Try reopen your dispute with Visa card under condition 13.5


    The terms of sale were misrepresented for a transaction involving the following merchant types such as:

    • Timeshare Reseller
    • Debt Consolidation
    • Credit Repair/Counseling
    • Mortgage Repair/Modification/Counselling
    • Foreclosure Relief Services
    • Technical Services/Support
    • Business Opportunities with income possibility
    • Investment Products when merchant refuses to allow cardholder to withdraw available balance (e.g. binary options)
    • In the Europe Region Trial Periods/One off purchase where the cardholder was not clearly advised of any further billing

    For your convenience, here's a template letter to your bank, feel free to modify and use.

    Dear Madam or Sir,

    I would like to provide documents to support the dispute against HashCoins LP(dba Hashflare, Merchant). I purchased a digital service(bitcoin mining) from the Merchant under the agreement of Terms of Service. Invoices are attached. You may find the Terms of Service at the merchant’s official website at https://hashflare.io/terms/.

    1. HashCoins significantly misrepresented the service on their website and in the Terms of Service on the following grounds.

    1.1 “Fixed” Fees

    On its official website www.hashflare.io (see Attached screenshot), above the "Purchase" section, HashCoins promises to charge “FIXED FEES” and “No hidden fees or commissions.” Maintenance fees are listed as “$0.005/ 1 MH/s / 24h” for SCRYPT cloud mining and “$0.0035 / 10 GH/s / 24h” for SHA-256 at the time of my purchase. All fees are shown in USD currency. HashCoins purposely points out that the fee is in “$” and says it’s fixed. In the Terms of Service, Section 11.1 on Page 9, they continue to show the fees are measured in USD (measure in USD / kWh, highlighted and quoted below):

    F = A * q * S * 720 h, where:

    A - actual hashrate, measured in H/s;

    q - power consumption (power/hashrate), measured in kW / H/s;

    S - electricity cost (average for 2 previous months), measure in USD / kWh;

    720 h - hours in 1 month (accounted as 30 days).

    However, they never disclosed that they charge “fees” in BTC (Bitcoin currency) NOT in USD. And since the exchange rate of BTC/USD varies every day, the fees are in fact variable. Without given this information, HashCoins made customers believe that the contract will be profitable for the most of the time using their formula and the profitability will not be affected by the exchange rate. In retrospect, if the maintenance fees were in BTC, their contracts would be extremely unlikely to be profitable and their service is worthless.

    By contrast, other merchants in the industry all fully disclose how they handle the maintenance fee in details. For instance, Genesis cloud mining, who provides a similar service, informs their customers in their ads that “Please note that the fee is fixed in USD but deducted from the daily mining rewards in BTC. Please refer to the Terms of Service for further details.” (See attachment, Genesis cloud mining’s ad. Can be found on their homepage https://www.genesis-mining.com/pricing). Genesis also explained how the conversion works in their Terms of Service.

    1.2 Refuse to allow customers to withdraw available payout

    On the website, HashCoins highlights that their service allows “INSTANT WITHDRAWAL”(see Attached screenshot), and customers can “Choose the amount to withdraw and receive it instantly”. Now HashCoins does not allow customers to withdraw until their profit (after subtracting maintenance fees) reaches a minimum amount, they also require customers to go through a very tedious verification process before they can withdraw, not to mention this minimum amount is impossible to reach for any ordinary customers.

    1.3 Misleading Revenue Forecast

    To make matters worse, HashCoins displayed a misleading “Revenue Forecast” on user’s dashboard (See attached screenshot, HashCoins Revenue Forecast), in which the revenue doesn’t take into account the maintenance fees, instead they indicated that the revenue is the payout. This makes existing customers continue to believe that their digital mining service is profitable.

    1. HashCoins misrepresented its cancellation policy

    Specifically, in Section 5, the cancellation and termination policy specifies that after the mining become unprofitable for 21 consecutive days, HashCoins will and must permanently terminate the contract. As a result, they should return my funds, which was prepaid for 1-year service.

    Boris, One of HashCoins’ support team members, has confirmed with me the cancellation policy in his email on (Correspondence 1).

    On July 24, 2018, after 21 consecutive days of being non-profitable, HashCoins sent me an email about the cancellation (Correspondence 2).

    On July 28, 2018, HashCoins claimed that they would resume the mining service (Correspondence 3) even though mining had not been profitable since then. I have never received payout. HashCoins only uses the “continuation” of service as a way to avoid refund. This is breach of contract.

    At this moment, I simply demand the merchant HashCoins to follow the Terms of Service, and to cancel and refund my prepaid funds. I have been paying Maintenance fees (See the log HashCoins attached) while they offered the service even though the fees was misrepresented in the advertising and Terms of Service, as explained later. There is no reason for HashCoins to continue withholding my prepaid funds.

    Quoted from the Terms of Service (a copy is screenshot is attached):

    1. CONTRACT TERM

    5.1. These Terms of Service are valid indefinitely, even after Account termination.

    5.2. The Contract Term for HashFlare.io Cloud Machines is set to 1 year by default, unless stated otherwise. The Contract is valid while profitable (refer to section 5.5.), until expired or until terminated (refer to section 13), whichever comes first.

    5.3. Contracts with a stated expiry date will end on the date of expiry and the Cloud Machine is stopped.

    5.4. Pre-order Contracts that are not activated immediately on purchase will activate on the stated date.

    5.5. The Mining process continues until said mining is profitable. This means the Mining process will stop if the Maintenance and Electricity Fees will become larger than the Payout. If mining remains unprofitable for 21 consecutive days the Service is permanently terminated (Hashrate type specific). During the consecutive 21 day period, Payouts and Fees will also be temporarily stopped. If during the suspension period, the Contract-related mining factors (such as the exchange rate and mining difficulty) that are outside of HashFlare’s control will change favorably, making mining profitable again, the Service will be unsuspended and contracts reactivated.

    5.6. HashFlare reserves the right to change the launch date, Contract Term of any Contract.

    In sum, HashCoins misrepresented the service and income possibility to customers meanwhile they failed to act in accordance with their terms of service customers agreed on. I find this merchant lacks integrity. I am not surprised to see many people complaining and filing chargebacks against them. You may find testimonies on Twitter, Google, Reddit or/and other social media. I hope the chargeback can be resolved in my favor. Thanks again for your support! 

    submitted by /u/Livinindacar
    [link] [comments]
Hashflare Affiliate
 
 

HashFlare  Affiliate Program

Url: https://hashflare.io/partners/

How to contact: info@hashflare.io

What is it? HashFlare.io offers cryptocurrency cloud mining services on modern, high-efficiency equipment.

Category: Mining

Affiliate payout in Bitcoin? YES

Which non-Bitcoin payout methods do they support? VISA,MASTERCARD,WEBMONEY

Revenue Share Percentage: 10%

One Time Commission: NO

Lifetime Revenue Share: 10%

Affiliate Referal Commission: no information

Additional Program Info: 100% anonymity guaranteed for everyone.

Supported Crypto-Coins: Bitcoin

US Users / Players allowed? YES

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