Hashnest is a cloud mining product suggested by Bitmain, a very familiar brand name ter the ASIC world spil they are best known for their Antminer series spil well spil the Antpool mining pool. Hashnest can seem very intimidating very first, but if you are serious about cloud mining, it is indeed one of the only choices you should consider.
(Before you read any further, please be aware that the following is my opinion only based on my practice with the service. I have not bot compensated te any way by Bitmain or Hashnest, and there are no affiliate linksaf of any kleintje te this article. Do your own due diligence before signing up with any cloud mining program.)
When you very first open Hashnest, you will very likely notice that right away, all the hash power is listed spil “out of stock.” Instead what you need to do is go to the market pagina or tabulator for your miner of choice, most likely the S9 for Bitcoin or the L3 for Litecoin.
What you will see here is an incredible innovation ter cloud mining – that being an open marketplace to loosely buy and sell individual units of hash power. The system uses a bid/ask system that will be very familiar to exchange users.
From here, there is always a supply of hash power to purchase, and the price frequently switches. It takes some patience before placing an order if you want to secure a better overeenkomst for yourself. I also suggest that you witness the market for a few days, or review the price history to ensure that you aren’t buying when the prices are artificially high.
Once you have secured your desired amount of hash power, you will likely be amazed to see that payments come te almost permanently.
Whenever a block is found, you will get a payout to your Hashnest wallet. For S9 hash power, you will get payments every Ten minutes to every Two hours on average. The L3 is even more incredible, with payments coming te every 15 seconds to Ten minutes. With the app installed on my phone, I sometimes love just refreshing my wallet to see the little vinnig of crypto packing up my account every few minutes.
Each individual block has a breakdown of your payout, including the maintenance cost. The pagina will also list what procent maintenance you are paying ter comparison to your total payout. Te my practice, the S9 has a maintenance toverfee of around 25%, and the L3 has an amazing 5% toverfee. This level of transparency is almost unheard of te cloud mining.
So what happens if you don’t like the service or just want to specie out? You can sell your hash power te seconds, and often you can even sell it at a profit.
Buying hash power has no toverfee, selling it has a 0.2% toverfee affixed. Te using the service, I have found that sometimes selling hash power when the price goes up, and then re-buying when it drops can be more profitable than the mining itself.
What about when the mining becomes less and less profitable?
You can still sell your shares, but the value will druppel. At the ogenblik, hash power shares are still available for the S7 Bitcoin miner, but with their toverfee ratio at almost 50% now, not many people are buying them, thus the price is much lower vanaf gigahash.
The status tabulator shows you clearly how much you have invested, how much is your payout, and how much is your total maintenance toverfee. If you sell your hash for a profit, the Cost section will demonstrate a negative amount.
When the S9 becomes or starts to become obsolete, you can sell your shares and recover some or possibly all of your investment if you act quickly enough. With a service like Genesis or Hashflare, your primarily invested money is gone.
The final – and fairly amazing – last major benefit of this service is that if you own enough hash power to represent an entire miner, you have the option of cashing out your hash power and having them send you one of the actual miners. You’ll pay a shipping toverfee, (about $50 plus whatever it costs to get to you) and it will be a used proefje, but cool nonetheless.
I’m not entirely sure if this is only an option once the machine is at or near its end of life or if this can toebijten any time, but it’s a very interesting proposal regardless.
So what are the down sides to the service? There are a few, but not many.
The very first thing you will likely notice is that both the web webpagina and app have numerous spelling errors. Ter the wallet, the word balance is spelled spil “Blance,” among other various typos.
2nd, the market for hash power can sometimes become grossly over-priced, and so you may find yourself needing to wait for several days or even weeks for the market to cool down.
When I embarked using the service, a single S9 gigahash wasgoed going for 0.00005 or so BTC (about 12 or 13 cents USD at a $2500 Bitcoin). It is now 0.000065, or $Two.86 USD, based on a much-higher $4400 Bitcoin. I already sold my hashes for a nice profit, and am waiting to buy back te once the market cools.
Another punt that won’t affect everyone is that Hashnest for some reason won’t accept crypto deposits if it detects your IP address spil coming from Fresh Jersey. It’s odd but not entirely unique.
Eventually, spil the service is located te China, and thus behind “the fine firewall,” the webpagina can sometimes become unresponsive. This has only happened to mij periodically, however, and generally, the webpagina and app are both functional under most conditions.
To summarize, is Hashnest volmaakt? No, of course not. But having the capability to buy and sell hash power on an open market, spil well spil possibly redeeming said hash power for an actual miner is what makes it a game-changer, and something that should not be overlooked.