Hashing24 is well known as one of the oldest and best mining services. But what does the platform offer, and is it superior to some of its younger competition? This Hashing24 review covers everything you need to know about the popular cloud mining platform.
Hashing24
- Hashing24
- Hashing24 review at a glance: Our overall rating
- Who is this Hashing24 review for?
- What is Hashing24?
- Welcome offer/ bonus
- What are the benefits of cloud mining?
- Why should you choose Hashing24?
- Hashing24 features and pricing
- How we have tested Hashing24
- Hashing24 review: pros and cons
- Hashing24’s uptime and maintenance fees
- Hashing24’s customer satisfaction
- Invest responsibly
- Hashing24: A polarizing yet enduring brand
Hashing24 review at a glance: Our overall rating
In short, Hashing24 is a polarizing platform. Many of its users either hat it or love it. However, it has stood the test of time, which lends to its reputation as a Bitcoin cloud mining platform. As a result, Hashing24 offers a niche product that appeals to a specific type of users. Therefore, you can’t have a conversation about cloud mining bitcoin without mentioning it.
| Criteria | User experience | Customer support | Compared to competitors | Price | Features | BeInCrypto score |
| Score | 3/5 | 3/5 | 4/5 | 4/5 | 4/5 | 3.6 |
Who is this Hashing24 review for?
Anyone interested in bitcoin mining but who is hesitant — perhaps due to perceived barriers to entry — will benefit from this Hashing24 review. Needless to say, if you are currently cloud mining and looking to compare platforms, you also find this review of value. Or, if you simply take an interest in the Bitcoin network and want to know more about the operations behind the blockchain’s security and proof-of-work (PoW) consensus mechanism, this review will also be of note.
In short, keep reading if you:
- Are interested in cloud mining
- Are currently engaged in cloud mining
- Simply want an unbiased report covering the Hashing24 platform
What is Hashing24?
Official website: www.hashing24.com
Hashing24 is a cloud-based cryptocurrency mining platform. It allows users to mine bitcoin by purchasing hash power from the industrial mining equipment supplier BitFury. Hashing24 is the cloud mining arm of HashCoins, the platform’s parent company. Hashcoins was founded in Estonia and initially focused on developing mining hardware and software solutions for the cryptocurrency industry.
With data centers located in Canada, Norway, Iceland, and Georgia, Hashing24 makes it possible for you to mine BTC without buying any equipment whatsoever.
The turnkey solution cloud mining platform has been around since 2012 — a long time in crypto years!
(Hashing24) is one of the few actual cloud mining companies that weathered all the ups and downs around about 2017 and after when bitcoin had its massive high and then just absolutely crashed. They are still here and are still paying, whereas a lot of companies disappeared around about that time because they couldn’t cope with what was going on.
RJ: Learn how to earn online, via YouTube
How to sign up
1. Go to Hashing24 website and select “Register” in the upper right hand corner.
2. From here you can either enter the relevant account information or sign-up using a third-party account (e.g. Facebook or Google).
3. Once you have entered the relevant information, you will receive an email for confirmation.
Congratulations, you have just registered an account with Hashing24!
Welcome offer/ bonus
While it is technically not a bonus, Hashing24 does have an affiliates program. Affiliates can earn between 3% to 10% from each client who purchases a tariff plan.
It should also be noted that you don’t need to make your own deposit to benefit from the affiliate program.Affiliate rewards are paid out instantly in Bitcoin and credited to your account balance.
Lastly, there’s no limit to the number of referrals you can have, which means your earning potential is virtually limitless.
What are the benefits of cloud mining?
Hashing24 operates on a cloud mining model, which means users can buy a certain amount of hash power and then receive a portion of the mined cryptocurrency in return.
This eliminates the need for users to set up and maintain their own mining hardware, which can be expensive and require technical expertise. These are some reasons that many people prefer cloud mining over CPU mining, ASIC, or GPU mining. However, keep in mind that while cloud mining can be convenient, it also comes with certain risks. The cryptocurrency mining landscape is competitive and constantly evolving, and factors like the price of cryptocurrencies and the difficulty of mining algorithms can impact the profitability of cloud mining contracts.
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Bitcoin mining profitability is in decline primarily due to two key factors: the increasing mining difficulty and the halving of block rewards. As more miners compete, the network adjusts its difficulty level to maintain a consistent block creation rate, making it harder to mine new blocks.
Proof of Work carries with it a massive cost in arbitrary computation…PoW externalizes the cost of validation by requiring a massive amount of hardware and electricity to secure the network.
Justin Bons
This, coupled with bitcoin volatility, means that mining bitcoin may have diminishing returns. When you take into account that many miners take loans to start their operations, mining can be a risky business and is not for the faint-hearted.
Why should you choose Hashing24?
With Hashing24, users can purchase hash power contracts. As a result, they can mine cryptocurrencies like bitcoin without dealing with the technical aspects of hardware setup and maintenance.
This accessibility is particularly appealing to individuals who lack the technical expertise or resources for traditional mining. Cloud mining services like Hashing24 bundle operational costs, making it easier for users to estimate expenses compared to traditional mining setups.
Additionally, the reduced barrier to entry is attractive, allowing those interested in mining to participate with lower startup capital. Cloud mining also eliminates noise and heat concerns associated with physical mining hardware since the equipment is hosted in remote data centers.
Note that Hashing24 differs from many of its competitors in that users who buy a contract with Hashing24 are renting a small part of actual physical mining equipment. This is opposed to virtual cloud mining services, like those provided by platforms such as RollerCoin or Dualmine. This fact, coupled with a proven ability as a company to ride out turbulent times in the market, makes Hashin24 a strong choice for anyone looking to engage in cloud mining operations.
Hashing24 features and pricing
Here’s a rundown of some need-to-know elements of the cloud mining platform, from payment details to securing info.
Hashing power plans
Hashing24 offers a range of cloud mining plans with varying contract durations, allowing users to purchase hash power contracts for specific timeframes. Cloud mining plans with different durations are a common feature in the industry. Many mining platforms offer a variety of contract lengths to cater to different user preferences and investment strategies.
For example, the price of bitcoin and mining difficulty can play a significant role in Hashing24’s profitability. This is also true for other cloud mining sites.
Hashing24 offers several packages with varying amounts of hash power, such as 100 GH/s, 50 GH/s, 1 TH/s, etc. Each package has a corresponding price. The pricing of each hash power package varies based on the contract duration.
Plans include options like 12 months, 18 months, 24 months, and 30 months. For example, at this point in time, a 12-month plan for 1 TH/s is about $48.60. Generally, Hashing24 offers more competitive pricing per unit of hash power for longer contract durations and larger contract sizes.
Payment methods
Once you’ve selected your desired hash power plan, Hashing24 provides multiple payment options for your convenience. You can choose to pay using bitcoin, altcoins, or fiat currencies, and you also have the option to utilize funds from your Hashing24 account balance.
Hashing24 supports payments in three major currencies: USD, EUR, and BTC. For added flexibility, Visa and Mastercard bank cards are accepted as payment methods.
Security features
As far as security goes for the mining hardware, the security is handled by BitFury. As for the actual platform, you can set two-factor authentication (2FA) for your account for enhanced security. The website does not mention crypto wallet security or that it employs any other security measures.
Customer support
In crypto, customer support is paramount. Users, whether they are engaging with an exchange, cloud mining provider, or crypto wallet, want to know that if any problems arise, someone will be there to communicate with them.
Hashing24 claims it responds to all queries within 24 hours. However, depending on the questions, you will likely get generic responses that may or may not answer your questions. In other words, answers may sound similar to automated bot responses.
How we have tested Hashing24
In this comprehensive Hashing24 review, the BeInCrypto team conducted a thorough analysis of one of the oldest and most renowned cloud mining services. We assessed various aspects, including user experience, customer support, pricing, features, and the overall appeal of the platform. Here’s a detailed breakdown of our evaluation of Hashing24:
- User experience: We rated the user experience of Hashing24, considering factors like ease of account registration and platform navigation. The platform’s user-friendliness and accessibility to both novices and experienced miners were highlighted.
- Customer support: We emphasized the importance of customer support in the crypto world. Hashing24’s response times, although within 24 hours, were scrutinized, and the potential for generic responses was noted. Customer reviews and user satisfaction were also considered.
- Price and plans: We examined Hashing24’s pricing structure, including different cloud mining plans, contract durations, and corresponding costs. Payment methods and currency support were also discussed to provide flexibility to users.
- Uptime and maintenance fees: The review delved into Hashing24’s uptime and maintenance fees. The maintenance fee’s coverage and the importance of transparency in covering operational costs were explained.
- Customer satisfaction: We acknowledged the varying customer satisfaction levels and user experiences on Hashing24. Based on customer reviews, we evaluated instances of diminishing returns, unresponsiveness, and lack of transparency.
Through this comprehensive evaluation, we aimed to provide readers with an informative and balanced perspective on Hashing24, empowering them to make informed decisions regarding cloud mining and cryptocurrency investments.
Hashing24 review: pros and cons
Still not sure whether Hashing24 is the right cloud mining operator for you? Here’s a quick list of the platform’s pros and cons.
Pros:
- A low minimum withdrawal amount is 0.0007 (currently ~$30.00 as of 2024)
- Liquidity: You receive newly minted coins.
- Reliable platform: 100% uptime.
- Responds to queries (in some form) within 24 hours.
- Easy to start mining straight away
- Daily payouts
Cons:
- Not available to U.S. residents.
- No mobile app: Hashing24 is not available on Android or IOS.
- Limited crypto mining — the platform only supports BTC mining
- Poor customer reviews: Some customers report arbitrary contract termination and other grievances.
Hashing24’s uptime and maintenance fees
According to Hashing24, the maintenance fee covers mining costs like electricity, cooling, maintenance, and hosting. However, the specific maintenance fee is not specified.
The service fee includes the initial allocation of purchased hash power, with a potential daily maintenance fee based on the chosen plan. The service is terminated if an account lacks funds for the daily maintenance fee for three days.
For accounts without active Mining Contracts for over 30 days but with a positive BTC balance, a fixed daily fee (0.0137% of BTC balance) is charged for storage (approximately 5% annually, but at least 0.00000685 BTC). This system ensures transparency in covering operational and storage costs associated with cloud mining. Additionally, Hashing24 guarantees 100% uptime.
Hashing24’s customer satisfaction
When it comes to customer satisfaction, user experiences of Hashing24 tend to vary widely. Many reviews cite experiencing diminishing returns, unresponsiveness, and a lack of transparency. In general, Hashing24 tends to have poor customer reviews. The platform scores an average of just 2.2/5 on TrustPilot, with a total of 60 reviews logged.
Invest responsibly
While it is nice to talk about the benefits of cloud mining, it is even more important to discuss the risks. Investing is inherently risky, and you could potentially lose money. Therefore, you should not invest more than you can afford to lose.
Furthermore, this Hashing24 review should not be considered investment advice. The comments made in this review are purely for informational and entertainment purposes only. Investors should conduct their own thorough analysis regarding whether or not to use the Hashing24 platform, or engage in cloud mining.
Hashing24: A polarizing yet enduring brand
This Hashing24 review notes that the cloud mining company is a polarizing enterprise. The platform has been operational for over ten years and has withstood many crypto winters. Furthermore, Hashing24 offers a variety of mining contracts catering to both beginners and experienced miners. This business model has contributed to its enduring presence in the volatile and often unforgiving crypto market.
However, many users have reported being unhappy with the platform’s level of support. We advise that while Hashing24 is certainly one of the best choices on the market, prospective miners should carefully assess their risk tolerance before engaging with any form of cloud mining service.
Frequently asked questions
Hashing24 has a long-standing history in the cryptocurrency mining industry and has demonstrated resilience through various market fluctuations. While some users attest to its legitimacy and reliability, there are also polarizing opinions and concerns raised by others. As with any investment in the crypto space, potential users should conduct thorough research and exercise caution before engaging with Hashing24’s services.
Determining the “best” cloud mining service depends on various factors, including the specific goals and preferences of the user. As well as Hashing24, ECOS, Genesis BeMine, and Nice Hash are often considered reputable options due to their established track records and transparent operations. However, it’s crucial to conduct thorough research, read user reviews, and assess contract terms before making a decision.
Mining bitcoin for free is challenging due to the resource-intensive nature of the process. However, some platforms like StormGain and Binance Miner offer opportunities for users to mine small amounts of bitcoin using their computer’s processing power. Keep in mind that the returns from such methods are generally minimal and may not outweigh the costs of electricity and hardware.
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