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MiningRigRentals.com Review

Miningrigrentals Review

Miningrigrentals Review
8.2

Cost

7.2/10

Reliability

9.0/10

Support

8.3/10

Pros

  • P2P rigs can be rented from miners
  • Free pool selection
  • Tutorials available

Cons

  • High fees
  • No fancy design
  • Need to understand the basics of mining to participate

About MiningRigRentals

Address

New York City

Coins:

bitcoin, litecoin, ethereum

The idea behind Mining Rig Rentals is to create a faster, smarter and more powerful way to rent or lease cryptocurrency mining rigs. The motivations behind renting a rig can be different for newbies to cryptocurrency and expert miners who want to try out new equipment or algorithms. MiningRigRentals.com is offering a one-stop solution to anyone.

About Mining Rig Rentals

Mining Rig Rentals service has been developed from the ground up by miners for the mining community. The domain of  MiningRigRentals.com was registered in February 2014. The site have been active since April that year. The owners describe themselves as “the eHarmony of the mining community” and list their address as New York City on their Twitter page. However aside from this, there is no public information about who’s behind the company.

On the other side, by now Mining Rig Rentals has been up and running for more than 3 years, which makes it seem to be a legitimate, trusted service provider on the market.

 

Services Provided

MiningRigRentals.com provides a unique marketplace for cryptocurrency rig renters and rig owners. They call their service similar to an escrow service, making the transactions as smooth as it can be between the two counterparties. Mining Rig Rentals also act as a 3rd party mediator of transactional funds should there be a discrepancy between what you paid for and what you received.

Services For Rig Rentals

There are several different reasons, why users can decide on renting a rig. Newbies to the cryptocurrency mining world can learn by hands-on experience the various hardware and mining algorithms.More experienced miners can try out new mining equipment before investing in hardware or can test new algorithms when a new altcoin hit the market.

In order to start, you need to choose the algorithm of the coin you wish to mine and filter the results. Now you can review mining rigs that are listed for rental. Mining Rig Rentals provides renters with tools such as our average hashrate graph and an elaborate rating system. Once you’ve selected the rig you wish to rent, you can follow the onscreen instructions to make the exact payment. Input the exact number of hours you would like to rent the mining rig. Proceed by clicking “Rent.” The next page will allow you to enter up to five total pools. In the first pool #1 spot, enter the pool you wish to immediately begin mining at. Pool #2 and #3 are backup pools should your proceeding pools of choice fail or become unavailable. This is an excellent way to ensure you get up and mining immediately on a coin launch. Finish the rental process by clicking on “Instant Pay.” Once there is confirmation, the mining rig will automatically switch to the pool of your choice.

One important thing to note that you cannot switch algorithms after a rental period has started. The mining rig you rented is configured by its owner to mine a specific algorithm. You’re welcome to contact the owner of the rig directly but Mining Rig Rental will be unable to switch your payment amounts and totals once processed.

Benefits For Rig Owners

Cryptocurrency mining rig owners can benefit from the potential new revenue through renting out their right with Mining Rig Rentals. If you’ve found success mining, simply figure out what it would be worth to you to allow someone else to rent your mining rig. Price your rig accordingly and earn income by renting out your hardware.

When someone rents out your mining rig, they only have the ability to direct your hashing power to a pool of their choice. You will always control your hardware and mining configuration files. MiningRigRentals.com adds an additional layer of protection through the specialized bouncer connection.

All payouts are held up to 12 hours after the rental completes. The designated timeframe is to allow for dispute resolution should it be required. After 12 hours your payout will be ready for disbursement. A manual payout button is located on the “Balance” page. Your payout address should be set on the Settings page along with Autopayout thresholds.

Fees and Pricing Schedule

Mining Rig Rental charges both sides of the deals. There is a 2% fee charged to renters on rental transactions. This fee is typically not refunded unless the rig completely malfunctions. MiningRigRental.com has also an additional fee of 3% and is charged on each transaction.

When signing up for a mining rig, several aspects need to be considered, such as rental performance index, hashrate, profitability, minimum and maximum rentable hours. The minimum rental period varies from 3 hours to 1 week. The maximum rental hours can go up to one month.

Some of the most popular mining rigs have the following rental prices.

  • Antminer S9 for Bitcoin mining producing 12.5 Th/s hashrate with 100% rental performance index in the past cost 0.00019499 BTC Price/TH/Day.
  • Antminer L3 for Scrypt mining including Litecoin 98.85% rental performance index and 1.20GH/s hash rate costs 00000374 BTC Price/MH/Day.
  • X11 custom rigs start from 0.00004900 BTC/GH/Day.

Various mining rigs are offered for less known algorithms – everyone can truly find something for sure they are looking for.

User Experience

Mining Rig Rentals platform is easy to use and very intuitive. Although the design is not that fancy, the website has all the relevant information needed to start renting rigs. There are a lot of information available about getting started and signing up. They also offer video tutorials to make sure you get around the platform and services easily.

Although the platform has been running for more than three years now, there hasn’t been any complaints from their user base about the services provided. According to the platform, there are 300 available SHA256 rigs, 548 Scrypt based rigs and 220 X11 rigs are waiting for you to be rented out.

Mining Rig Rentals also offers an appealing referral system. Commissions are paid out after each transaction fully completes with 0.1% of the total transaction. This applies to both renters and rig owners that are referred to MRR using your referral link. If you refer a renter and a rig owner and the renter leases the rig owner’s rig then you will receive a total of 0.2% commission for that transaction. There is no ceiling on your earnings potential. You will continue to earn 0.1% on every transaction the referred account fully completes.

Overall Conclusion

Mining Rig Rentals is offering a unique solution on the cryptocurrency mining market where miners can offer their equipment to rent and users can engage into lease agreements. The platform offers more than 30 different mining algorithms and associated rigs to choose from. Although they are charging both side of the transactions when renting out a rig, the idea behind Mining Rig Rentals is indeed great who would like to try out cryptocurrency mining in general or just a new equipment before investing into hardware.

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  • Hashflare Referral Codes Megathread


    Post your referral code here! This is the only thread that will allow referral links/codes. Most users are already registered (and therefore the links are useless), but when we have new users who are still on the fence about joining that come to find info, they may want to give back to the community by using one of our links.

    Please note:

    1. A referral code/link is ONLY valid for new accounts.
    2. Once an account is is registered with a referral code it cannot be changed.
    3. All purchases on that account will reward their initial referrer.
    4. It is against Hashflare's policy to create more than one account.
    5. Any posts claiming to reward you for using their referral code should be reported and will be removed.

    Feel free to give additional info or reasons for someone using your code over others, but refrain from promising monetary incentives.

    submitted by /u/deevlo
    [link] [comments]
  • Enjoy the hilarity


    Hey guys, HashFlareNewHire (Boris) here to remind you all to enjoy the hilarity of this subreddit where every post has the same comment history!

    For every post, get ready for literally the same 5 or so standard negative archetypes to spout literally the same thing and circle jerk each other with upvotes:))))))

    Common shit and unproductive responses may include:

    • Broken english to the point of irony
    • 1 day old account - so anything you type is shit
    • Excessive use of CAPS to emphasize the a common word- which can be found in every post in a user's history
    • Telling others to check out a poster's username (100% chance you just looked or scrolled back up)
    • Everyone is Boris
    • Not understanding what a contract is or how market movement is independent of this service
    • Losing money in an investment => the investment is a SCAM

    ...At times like this, don't forget that there is a standard bell curve distribution for intelligence in society. Meaning - there must be a population that fall 3 standard deviations away from the mean. Now it depends on how far left they are which will determine if they become self-aware of this fact. I've been enjoying observing good examples of the theory where the further left or right you fall, your perception of yourself may actually wrap to the other side...

    It's all in jest guys, it ain't worth raising your blood pressure over this

    With love,

    --Boris <3

    submitted by /u/HashFlareNewHire
    [link] [comments]
  • Hashflare Fee more than Payout?


    For the last couple of days, the maintenance fee has been more than my payout which (I suppose) is taking money from my account. I am using BW pool. Is anyone else having this problem? I have invested a small amount of 0.04 terahashes so I don't care if it disapears.

    submitted by /u/davidhaw
    [link] [comments]
  • I Got Refund Scammed So You Don't Have To


    Before you say anything... I know this was a waste of money and I'll probably look back and kick myself. Either way, now you know. The TL;DR: The HashFlare Support Facebook page is a scam.

    All of us are frustrated by Hashflare not being profitable anymore. I thankfully just barely hit my ROI and got back the same amount of BTC I had put in. Of course that's nowhere near the USD value but that's not on Hashflare. I had about .05 BTC in my Hashflare leftover that I just withdrew and decided to give this a try for the hell of it. On April 29th the "Hashflare Support" Facebook page made a post about refunding your account. It sounded fishy and soon after they removed the post. However, after Hashflare no longer became profitable, they posted the refund process again. Essentially, the steps were:

    • Request for an address from them
    • Pay a "priority refund fee" of either .03 or .05 BTC
    • Provide the TxID of payment and email linked to hashflare
    • Once payment was verified, they would send an email to process the refund

    Of course this screams out scam. Yet after a lot of searching online, I couldn't find anything that disproved it. I'm hoping others who get tempted to refund their account will find this post and not give any money. I have captured the dialogue with "Hashflare Support" in these images: https://imgur.com/a/AeIMSMA

    I was expecting them to go dark on me after I sent the BTC. It's even more comical than that. Here's the final message:
    "Sorry to tell you that but we are not HashFlare We are a big organisation and we help poor kids in africa Your small fees payment will be used to help poor kids in africa, to give them homes and food Be proud of that you helped them and not not all your oney were gived to scammers of hashflare HashFlare is scam. Do not trust them"

    🙂 now you know for sure.

    submitted by /u/dabbs2
    [link] [comments]
  • Just Remember


    There's a positive here. Crypto Nick and his HF contract.

    submitted by /u/foxrih
    [link] [comments]

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