Ethereum’s shifting to a proof-of-stake ecosystem came as a shock to miners. But not every cryptocurrency has ditched mining. Bitcoin, of course, still follows the proof-of-work (PoW) consensus. Mining BTC by solving complex mathematical puzzles has been around since the dawn of the OG crypto itself. But methods have evolved, with players like HashFrog widening miner accessibility. This detailed HashFrog review explains the ins and outs of the platform and its place within the wider mining ecosystem.
As a cloud mining service provider, HashFrog rents our mining power without you having to invest in specialized equipment. How HashFrog does so, and the implication for you as a crypto miner are the elements that will make up this 360-degree HashFrog review.
- Hashfrog at a glance: Our overall rating
- What is HashFrog, and why is it important?
- Welcome offer / bonus
- Who uses HashFrog?
- Why is the HashFrog review relevant months before BTC halving?
- Is HashFrog legit?
- HashFrog features and offerings
- HashFrog review and the pricing model
- HashFrog review: Security standards explored
- How to earn from HashFrog?
- HashFrog review and regulatory compliance
- HashFrog user experience and the learning curve
- HashFrog review: The state of customer support
- HashFrog review: pros and cons
- Invest responsibly
- Why buy hashing power when you can rent with HashFrog?
- Frequently asked questions
Hashfrog at a glance: Our overall rating
Hashfrog is the crème de la crème of cloud mining companies. When compared to its competitors, it is slightly on the expensive side — but not without merit. It has everything that you need and everything that you want in a mining company, including: good user experience, compeitive pricing, and learning resources.
What is HashFrog, and why is it important?
The HashFrog platform serves as a marketplace that rents out mining services or, rather, computing power to its users. An interested miner can purchase a mining plan at a given rate and for a given duration.
How to sign up
1. In order to create an account on HashFrog, simply start by going to the website and select “Sign Up.”
2. You can sign up using your AntPool account or by entering your email. If you enter your email, you will receive a confirmation code to complete the account registration process.
3. After account registration, you will be asked to verify that you are not a resident of the restricted regions. After this, you have officially registered an account.
Welcome offer / bonus
While Hashfrog does not offer a typical bonus or rewards program, the platform does have a referral program. This allows you to make commissions by referring others to the platform. In return you receive a reward for the purchases that they make on Hashfrog.
Official website: www.hashfrog.com
While all of this sounds simple enough, complex mathematics goes into ascertaining computing power, mining revenue, and other factors.
Who uses HashFrog?
HashFrog can be a handy resource for institutions, businesses, and individuals interested in cryptocurrency mining without looking to spend a fortune on specialized equipment. HashFrog is a more aggressive way of investing in crypto for businesses and institutions, as the crypto generated from mining is credited directly.
Regarding the modus operandi, HashFrog offers a mining hash rate to interested users. The hash rate comes bundled as part of a mining contract, which is valid for a given amount of time. Notably, a higher hash rate lets you quickly solve a mathematical puzzle and earn crypto rewards. But then, higher hash rates can come at a premium, even at HashFrog.
Cloud mining as another source of income in web3:
The higher the hash rate you seek, the costlier the mining contract will be. The same goes for longer HashFrog mining contracts. Also, different mining algorithms exist, which can determine the rates for different mining contracts. For instance, the miner setup relevant to bitcoin isn’t compatible with the ones for, say, kadena or ravencoin. Therefore, the cost of the mining contract also depends on the crypto you are planning to mine.
Why is the HashFrog review relevant months before BTC halving?
With the bitcoin halving event due in April-May 2024 — we can expect the mining difficulty to reduce a little immediately after that event. When the mining difficulty decreases, miners often prefer quickly entering the space with short-term term cloud mining plans to get their hands on BTC.
Yes, the mining rewards will decrease to 3.125 BTC per block post-halving. However, with several miners leaving the ecosystem and the difficulty immediately going down after the event, we can expect new mining entries to happen.
Is HashFrog legit?
HashFrog comes across as a credible cloud mining rental marketplace for many reasons. The most prominent one has to be its partnership with BITMAIN — a reputed manufacturer of mining rigs — making service sourcing easy and dependable. HashFrog is also partnered with ANTPOOL, one of the better-known mining pools.
Partnering with ANTPOOL gives HashFrog and its users access to a super high mining hash rate or, rather, computing power in the commercial sense. This is how HashFrog can set up price-specific mining contracts, where some of the more premium plans offer the best hash rates for mining crypto.
Additionally, this cloud mining service provider also has ties with Cobo — a custody provider for digital assets. As Cobo is audited and licensed, it brings more credibility to HashFrog, as users can rest assured that their earned crypto is safe.
Another reason that makes HashFrog credible is that it operates in 100+ countries, lending services to a diverse range of individuals. And finally, the payouts, or rather the mining revenue, are credited daily to the user, ensuring enhanced transparency.
HashFrog features and offerings
Now that we know how HashFrog functions, let us look closely at the platform’s features. These include:
Extensive algorithm coverage
Different cryptocurrencies have different approaches to proof-of-work, depending on the mining software they deal with. The level of cryptography associated with each is also a function of the hashing algorithm that the cryptocurrency follows and the mining software.
For instance, BTC uses the SHA-256 algorithm and mining software like the CGMiner, whereas, for mining Kadena, you would need to be familiar with the BLAKE2s algorithm and the KDAMiner software.
HashFrog considers all of that and offers miners relevant to SHA-256, Blake2S, and even Scrypt algorithms. As a user, you can choose from a wide range of algorithm-specific miners and start to earn a hefty mining revenue.
An interesting take:
Different miners to choose from
Having partnered with BITMAIN and ANTPOOL allows HashFrog to be more expressive with its offerings. And while at the front, it is simply about choosing a mining contract, a lot goes behind the scenes when miner selection is concerned.
For instance, HashFrog offers access to the ANTMINER S19i and the ANTMINER KA3 setup as part of its cloud mining offering. The S19i is meant for SHA-256 algorithms like Bitcoin, whereas the KA3 handles the Blake2S and the likes of Kadena.
“This cycle, there will likely be litecoin/dogecoin mining companies going public.”Shan Belew, litecoin educator: Twitter
At present, the web interface of HashFrog has mining contracts for these three algorithms, involving bitcoin, kadena, and litecoin-dogecoin.
You can check the hash rate of specific cryptos on ANTPOOL or any of the available mining pools and purchase the mining contract on HashFrog that best suits your earning preferences.
Cloud mining services can be pricey. However, HashFrog offers a relatively diverse collection of these plans based on the duration, hash rate, or computing power and yield you plan on getting your hands on. You can opt for something as affordable as the “Newbie” exclusive 3-day plan, derived from the S19i ASIC miner to mine BTC.
Or you can choose the 60-day, 70-day, 120-day, and other mining contracts depending on how much you are willing to pay and how long you want to keep mining, per the cryptocurrency market trends and sentiments.
You can check each plan for its hash rate, hash rate fee, and electricity fee — calculating possible revenues in the process.
Profitability and portfolio tracker
Each mining service listed at HashFrog has a separate section, termed the output analysis or mining profitability. This tool gives you the estimated yield, time taken to break even on the investment, charts depicting hash and electricity fees, and other inclusions signifying the possibilities of mining profitability.
On top of that, every user gets a dedicated dashboard with their assets and hash rates listed. This works like a portfolio tracker, allowing you to monitor your spending, your HashFrog performance, and more.
New plans and mining contracts
HashFrog periodically launches new HashFrog mining contracts to help users find mining affordability. The latest ones include the Kadena-specific 60-day, 90-day, 120-day, and 180-day mining plans that have slashed hash rates and lower prices. Plan launches like these, courtesy of BITMAIN and ANTPOOL collaboration, are great for beginners interested in exploring cloud mining and the PoW ecosystem for the first time.
And you can further lower the rates by applying the site-specific coupons. It is worth noting that the availability of new plans and contracts is a part of HashFrog updates, and you should keep checking the website for prior intimation.
A rewarding referral program
HashFrog also has referral incentives in place. For every person who joins using the referral links, commission rebates are credited as USDT to the person referring. Also, the commission rebates, or USDT, can be withdrawn and need not be used to make in-site payments.
The referral rates can be between 1% and 4% for Level 1, depending on the plan converted to an actual sale. You can always level up if the invited users trade and use services worth 700,000 USD within a span of 90 straight days.
HashFrog review and the pricing model
Notably, the HashFrog pricing model depends on several factors, including the hash rate you choose to go with, the duration, and other factors.
The HashFrog pricing range varies according to the hashing algorithm. For SHA-256, involving S19i miners, the hash rate fee varies from $0.001/T/Days to $0.0102/T/Days. The 3-day mining contract is the more affordable one as the user only needs to tap into the hash rate for a small period. The electricity costs for the S19i miner contracts can vary from $0.055/T/Days to $0.06/T/Days, also depending on the plan.
For S19i miner contracts, you can also increase the hash rate — obviously for a higher price, provided you want the duration to be the same but with additional mining capabilities. HashFrog allows this sort of customization only for the S19i and L7 ASIC miners.
Non-BTC fee structure
For KDA mining, the hash rate fee can vary from $0.0055/T/Days to $0.046/T/Days. The electricity for the same is usually set to $0.0831/T/Days.
And for L7 miners, the hash rate fee can vary from $0.05884/G/Days to $0.05246/G/Days. The standard electricity cost for these LTC and DOGE-specific mining contracts is $1.093/G/Days.
Did you know? Due to the difference in hashing algorithms, the L7 miner’s hash rate is evaluated in GH/s, whereas TH/s is used for S19i and KA3 mines. L7’s Gigahashes/sec hash rate threshold is more powerful than S19i’s and KA3’s Terrahashes/sec hash rate representation.
The conversion formula for the same is:
GH/s = TH/s / 1,000.
This makes L7’s hash rate or computing power ten times higher than the S19i’s and six times higher than KA3’s. Hashfrog keeps all that in mind to set rates for the relevant mining contracts.
This platform charges a service fee (electricity fee only), calculated by multiplying the number of days of the contract with the product of the hash rate quantity (30T, 50T, etc.) and the unit price of the electricity fee. You can either withhold the fee for the entire cycle to be deducted once the contract expires or manually pay the same.
Also, here is what the detail mining contract interface looks like while making a purchase.
HashFrog review: Security standards explored
As mentioned earlier, at HashFrog, all your procured crypto assets are secured by Cobo’s infrastructure. Also, if you head over to the settings, you can be assured that this cloud mining service provider has extensive security measures in place, including a dedicated withdrawal verification setup.
You can set a “Fund Password” or activate Google Authentication in addition to email access.
How to earn from HashFrog?
Institutional investors or even crypto hedge funds can consider exposure to HashFrog to accrue crypto assets via mining. These earnings can be reflected in alpha generation strategies. Or, as a standard retail player, you can consider picking mining contracts and indulge in individual cryptocurrency mining, earning BTC and USDT in the process. The value of these procured assets depends on the broader cryptocurrency market trends.
Additionally, onboarding new users to the HashFrog ecosystem can generate revenue through commission rebates.
HashFrog review and regulatory compliance
Even though HashFrog doesn’t offer services higher than 100 TH/s in the U.S., it does adhere to the international AML and KYC guidelines. Also, while checkout, you come across the Cloud service agreement and the risk notice description, which also clearly detail the extent of HashFrog’s regulatory compliance.
The website also has a pretty self-explanatory KYC verification dashboard, where you need to furnish details, validate the same with documentation, and hit submit. A standard profile gets verified in under 24 hours.
KYC verification also enhances the transaction limit to “Unlimited” from under 5000 USDT. Withdrawal limits are also associated with KYC verification, per the given slab:
HashFrog user experience and the learning curve
HashFrog has a minimal website interface with no lofty tabs and transitions. The “Marketplace” hosts the mining contracts, whereas the BITMAIN K3 section enlists the newest and most affordable KDA miners. There is a separate segment for referrals, and the user dashboard has dedicated sections to help you check orders, track electricity fees and the associated changes, and other details about your time on HashFrog.
Overall, this cloud mining service has one of the shortest learning curves, making it genuinely accessible for new miners.
It’s also super straightforward to purchase a plan. You can simply add the selected mining contract to your account, check a few boxes while exiting, feed your BTC wallet address for fund transfer, and pay using cards or wallets.
When it comes to USDT deposits and crypto withdrawals, the website offers a one-click setup to move assets across chains, making the HashFrog user experience stand out from other platforms.
HashFrog review: The state of customer support
What stands out is HashFrog’s “Help Center.” Regardless of the issue you run into, the resolution is right there in the articles. You can even manually type in your concern or browse through the categories to learn more about the interface.
Then there is “Chat Support,” where real chat assistants help resolve your concerns in real-time. Finally, if you want to describe a lingering issue or go further into the details, shooting a mail to [email protected] is also an option. You can expect a response within 48 hours, max.
Also, there is a dedicated Twitter (X) page where you can find all the latest HashFrog updates.
HashFrog review: pros and cons
While we have covered HashFrog front and back, here’s a quick overview of the hits and misses.
- Competitive pricing, especially the service fee
- Quick payment methods, including one-touch barcode-based USDT deposits
- A detailed “help center.”
- Minimalist website
- Transparent fee structure
- Access to the best mining rigs, courtesy of BITMAIN
- It doesn’t offer a free trial
- The minimum investment for BTC mining plans is high.
This review is not intended as an official endorsement of the Hashfrog platform. Readers should remain aware that cloud mining, as an industry, has gained a reputation for fraudulent activities.
However, it’s important to note that this observation is not indicative of all cloud mining platforms, or suggests that Hashfrog engages in such as activities. Readers should assess their own risk tolerance, financial goals and obligations before making any investment decisions.
Why buy hashing power when you can rent with HashFrog?
This detailed HashFrog review shows that renting cloud mining services is a quick and easy way to explore crypto mining. While other service providers are in the fray, including BitFuFu, Binance, StormGain, and more, HashFrog is easily one of the simplest interfaces to navigate. Additionally, it has all the necessary algorithms and the relevant ASIC miners, ensuring the best possible experience for a crypto-mining newbie.
Frequently asked questions
Can I make money with HashFrog?
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