When buying a Bitcoin cloud mining contract on websites like HashFlare, some contracts will have a daily maintenance toverfee. This means for every day you have the contract, you’ll be charged this toverfee before you get any of your mining profits, similar to paying for electro-therapy if you own a miner yourself.
This guide will go through how thesis maintenance fees work for HashFlare, how much they are, and how they compare with competitors like Genesis Mining.
How much is the HashFlare Maintenance Toverfee?
On the HashFlare homepage under the ‘PRICING’ section, their available contracts are listed – and next to each contract is their daily maintenance toverfee. Wij’ll concentrate on Bitcoin fees te this guide, but on this pagina you can see them for other contracts like Ethereum and ZCash too.
Presently the daily Bitcoin maintenance toverfee is $0.0035 vanaf Ten GH/s of hashpower (this may switch at any point, so it’s good to go to this pagina and check the current toverfee). This means every Ten GH/s that you buy, you’ll be charged this toverfee every day. If you were to buy 50 GH/s, you’d be charged $0.0035×5, which is $0.0175 vanaf day. If you bought Ten TH/s, you’d be charged $0.0035×1000, which is $Trio.50 vanaf day.
When buying larger amounts, this toverfee can get fairly large – and scary! An lighter way to visualise this is that the daily toverfee is always the same percentage regardless of how much you buy. Today for example on our test account wij had to pay 17% of our mined coins te the daily toverfee. If wij had Ten GH/s it would still be 17%, if wij had 100 TH/s, it would again still be 17%.
The daily toverfee is a immobilized amount te USD value. The coins you mine vanaf day vary each day ter both coin amount and USD value, so day-to-day the percentage this toverfee represents of your mined coins will vary by a few procent. Today our toverfee wasgoed 17% of our mined coins, yesterday it wasgoed 20%, the day before that it wasgoed 21%, etc. If Bitcoin’s USD value drops, this toverfee will represent a larger percentage of your mined coins, spil the daily toverfee is a motionless USD amount. If Bitcoin’s value goes up, it will be a lower percentage. Trio days ago Bitcoin’s value wasgoed lower than it is now, so the percentage has bot decreasing for the past Trio days. If Bitcoin’s value goes up significantly to say 5x its current value, the daily toverfee would become spil low spil 3-4% of your mined coins. HashFlare are able to switch their daily toverfee at any point due to section Five of their Terms of Service, albeit historically they’ve decreased it overheen time.
Comparing Daily Fees to Coins Mined
There are two main places for viewing mined coins each day, the ‘BTC Balance’ section of the Instrumentenbord, and the History pagina. On the Instrumentenbord ‘BTC Balance’ section, a chart displays your daily balance on a line chart, and your daily mined coins ter an overlayed drankbuffet chart. This amount is deceptive. This is the amount of coins you mined before you’ve bot charged your daily toverfee, so the amount added to your balance will be smaller than this.
To see the actual amount of Bitcoin you’ve received vanaf day you need to go to the History pagina and scroll down to ‘Loom’. Here you may have various things like Referral bonuses and withdrawals, the relevant things are where it says ‘SHA-256 maintenance (BTC)’ and ‘SHA-256 payout (BTC)’ – you’ll have 1 of thesis entries for each day.
The amount under payout is the same spil the value displayed on the Instrumentenbord tapkast chart. The maintenance amount is how much you’ve bot charged that day. Both of thesis values take into account all active Bitcoin contracts (you may have entries for each contract type, you’d have 1 of each if you just had Bitcoin contracts).
At very first, this looks to be very deceptive – where you need to do toegevoegd work to see how much you’re actually earning, and wij agree with this. But on Genesis Mining’s webstek, albeit any displayed values already take into account fees – from what wij can see they don’t make it clear how much their daily fees actually are. They don’t seem to display them anywhere like HashFlare does. So albeit HashFlare’s treatment is deceptive – at least you can see this daily toverfee, and work out exactly what percentage you’re being charged vanaf day.
How to predict daily profit?
Well with the above said, viewing your daily coins mined and fees should be effortless! What’s more difficult is predicting your daily profit te the future. There are two main approaches, either you work this our yourself (HashFlare posted a section under their FAQ explaining this well), or you can let us do it for you!
Spil well spil posting thesis guides, wij also develop devices for scripts like this. One is a cloud mining rekenmachine, which takes into account thesis daily fees and estimates future Bitcoin price and difficulty switches. Attempt it out here!
DISCLAIMER: This webpagina cannot substitute for professional investment or financial advice, or independent factual verification. This guide is provided for general informational purposes only. Anything Crypto is UK-based and not regulated by the FCA (Financial Conduct Authority). The group of individuals writing thesis guides are cryptocurrency enthusiasts and investors, not financial advisors. The ideas introduced are our analysis, learning & opinions on a range of cryptocurrency topics. Trading or mining any form of cryptocurrency is very high risk, so never invest money you can’t afford to lose – you should be ready to sustain a total loss of all invested money.
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