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CCG Cloud Mining Review​

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For those that are looking for reinvest options while purchasing cloud mining contracts, CCG review offers detailed investigation. We do not only cover a reinvestment service only but all aspects of the CCG business, including company information, available cryptocurrencies, plans, fees, and profitability. The ROI analysis takes into account different market scenarios to gain as accurate data as possible.

Finally, using findings from our research, we construct pros and cons that can be compared with CCG competitors.

 

 

ACTIVE CRYPTO PLANS

HASH POWER

PAYMENT METHODS

ROI (Bear trend)

ROI (Bull trend)

GENESIS MINING

BTC, DASH

1.5 TH/s – 1,000 TH/s

Credit Cards, BTC, LTC, DASH, DOGE, ZEC, ETH, BCH

Negative

2.5 years

CCG

BTC, BCH, ETH, ZEC, XMR, LTC

100 GH/s – 25 TH/s

Payeer, BTC

Negative

11.5 Years

BITDEER

BTC, BCH, ETH, ZEC, ETC, LTC, DCR, DASH

20 TH/s – 500 TH/s

BTC, BCH, LTC, DASH, ETH, BCH, T/T, USDT

1.4 years

0.8 years

CCG Company Information

The CCG company information provides insights into how this British firm organizes its operations. It is a licensed limited liability entity that primarily engages in crypto pool mining. It offers both cloud mining and regular mining services for several cryptos, Bitcoin included. They employ 459 ASIC devices within their mining farms, supported by 16 employees. A small yet powerful firm.

The firm was found in 2016, during a period when the crypto market exploded both in terms of market support and value. During 2017, the company laid foundations by investing in Bitcoin and altcoins when the bull run was strongest. CCG also has branches across Europe, with offices located in Poland, Great Britain, Russia, Latvia, Austria, and Czech Republic.

CCG Available Cryptocurrencies

CCG available cryptocurrencies rely on the existing mining equipment that the company possesses. As mentioned before, they employ ASIC miners, powerful devices that provide large hash power. Thus, cryptos that can be mined with such technology rely on Bitcoin’s algorithm, SHA256. Cloud mining follows the same route as well, with available digital coins for cloud mining being:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Zcash (ZEC)
  • Monero (XMR)
  • Litecoin (LTC)

You can purchase these plans with the help of Payeer, BTC, and altcoins that can be mined within CCG.

 

CCG Plans and Fees

CCG plans and fees revolve around a time period within which investors wish to reserve their place. Currently, there are two programs to choose from, which differ in terms of contract length and initial costs. These are:

  • 1 Year Programs
  • Unlimited Contracts

One year programs are classic contracts where you purchase hash power for a period of 360 days. Thus, the investment plan is then evaluated by the ROI you can get within that year, including maintenance fees and daily payouts.

Unlimited contracts differ from limited plans in two things. They are more expensive when it comes to the initial purchase value of the plan and they do not have an exact date of closure. This particular plan is long-term in nature, regardless of the price trends that may occur within the crypto market.

Maintenance fees are the same for both types of plans, standing at 0.00017 USD per 1 GH/S of purchased hash power. Cloud mining contract buyers have the ability to get hash rates based on their funding capabilities. The minimum hash power is 100 GH/s while the maximum is 25 TH/s. Compared to other platforms, CCG sits right in the middle of the competition in terms of its hash power flexibility.

 

CCG Payouts

For CCG payouts to start, you need to way 24 to 48 hours following the plan purchase. As for the payouts, they do not occur daily as with many other cloud mining platforms. Namely, you get paid in BTC (or altcoins) on the 15th and 16th day of the month and only if it is a working day. Thus, they accumulate daily payouts into one or two payments a month.

On the side of withdrawals, the minimum amount of BTC to transfer outside of CCG is 0.002 BTC. The same value works with other altcoins as well.

CCG Profit Calculator

We provide a detailed CCG profit calculator to analyze how profitable contracts are at this platform. To do so, we implemented a complex mathematical formula that takes into account the mining difficulty of BTC< its price, and maintenance fees. For more information on how we create a Bitcoin mining calculator, visit our Genesis Mining review.

As for the CCG, we use three different scenarios of market trends to gain results that correspond to real market movements. Below is a table of factors that are important when calculating the ROI of CCG plans.

 

Bitcoin Price

$8,600

Plan Cost

$1 089 

Hash Power (TH/s)

11

Maintenance Fees

56,1

Monthly Payout

0,0066 BTC

Cloud Mining while in Stable Market

Right off the start, CCG cloud mining while in the stable market provides not so good results. The maintenance fees and overall contract prices are too high for the proposed hash power. Figures below show that current CCG cloud mining contract pricing stands around the equilibrium. Thus, satisfying ROI is almost impossible to reach this point.

 

Months

01

02

03

04

05

06

07

08

09

10

11

12

TOT

Profit

$0.66 

$3.50 

$0.66 

($2.18)

$0.66 

$3.50 

$0.66 

($2.18)

$0.66 

$3.50 

$0.66 

($2.18)

$7.92 

                       

ROI

137.5

CCG Profit within Regular Market

Additionally, we did not include rising mining difficulty in our analysis. Thus, it is possible to even lose money if a proper trading strategy is not set in place. We recommend keeping coins until a bull run occurs to hedge against risks of price decline and difficulty growth.

Cloud Mining while in Bear Market

If a stable market was bad for CCG cloud mining, then the bear market is even worse. In this particular scenario, miners would incur heavy losses, due to how expensive hash rates are. The issue starts already in the first month, as CCG plans are already at the breakeven point. After that, any price decline would result in immediate losses, as seen from the figures below.

Months

01

02

03

04

05

06

07

08

09

10

11

12

TOT

Profit

$0.66 

($0.66)

($1.98)

($3.30)

($4.62)

($5.94)

($7.26)

($8.58)

($9.90)

($11.22)

($12.54)

($13.86)

($79.20)

                       

ROI

-13.8

CCG Profit within Bear Market

Thus, the only feasible strategy, if you decide to enter the contract, is to keep coins until bull run occurs. Then, you can hedge against price declines. However, if we add rising mining difficulty to the equation, then even rising prices would be of little help.

Cloud Mining while in Bull Market

As mentioned before, CCG cloud mining is not that profitable and this rings true even if bull run occurs. As seen from the figures below, if price surges up by 25% within a year, the ROI would be 11.5 years from the initial start. Thus, a 1-year contract is not a feasible choice for investors at the moment.

 

Months

01

02

03

04

05

06

07

08

09

10

11

12

TOT

Profit

$0.66 

$1.98 

$3.30 

$4.62 

$5.94 

$7.26 

$8.58 

$9.90 

$11.22 

$12.54 

$13.86 

$15.18 

$95.04 

                       

ROI

11.5

CCG Profit within Bull Market

This does not include a difficulty rate as well. If it rises, trade hedging might help you to an extent to keep ROI higher than 10 years. However, that is quite a long period to be stuck with frozen funds.

Overall Analysis

Our overall analysis of CCG cloud mining programs shows that plans need work to be profitable. Taking into account rising mining difficulty, it is almost certain that investors would lose money, rather than making a profit. Thus, keeping coins until a massive bull run occurs is of immense priority. At the same time, there are many other cloud mining platforms which have better ROI rates at this moment.

CCG Reinvest Option

In the situation if ROI would be positive and attractive, CCG reinvest option is a really interesting service. The platform offers the service for both types of plans and can help you power up even further on hash power. 

You can reinvest manually when the price of the crypto is about to rise. Or, you can ask a support representative to add “automatically reinvest” to your account. However, we would not recommend implementing the latter as mining difficulty and BTC price can get in your way.

Lastly, you should consider this option only when a serious bull run will occur. Holding your coins without selling them is the best course of action. Our data show that CCG plans, at the moment, are not that profitable to make reinvestment option a must-have. We recommend using it only at a specific time when BTC price is about to explode.

Pros and Cons

After careful consideration of results, here are pros and cons of investing in CCG cloud mining plans.

Pros

  • Possibility to purchase plans with both fiat and cryptocurrencies
  • Reinvest service available when the market is experiencing a bull run

Cons

  • Hash power prices very high
  • Payouts occur monthly, rather than daily
  • 1-year plans are unprofitable due to high initial costs and maintenance fees
 

Conclusion – Is CCG Legit?

Is CCG a legit company to invest in? In terms of security and payout regularity, the answer would be yes. However, if we look into our ROI analysis, the company has a lot of work to do. Its yields are uncompetitive when compared to other cloud mining platforms. Hash power costs need to be lower and so do initial plan costs.

The post CCG Cloud Mining Review​ appeared first on Cryptocoinzone.

Source: https://www.cryptocoinzone.com/cloud-mining/ccg-cloud-mining-review%e2%80%8b/

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Uniswap Retroactive Proxy Contract Airdrop Proposal Receives 28 Million Votes

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Community voting is on for Uniswap’s new governance proposal. The same will see users receive more than 5 million UNI tokens via a proxy contract. As of now, more than 28 million votes have gone in favor of the airdrop. Around 1.3 million votes are against the proposal.

Voting Begins For Uniswap’s Second UNI Airdrop

The voting process is on for passing Uniswap’s Phase 1 of Retroactive UNI Governance Token Distribution. The proposal, if successfully passed, will see 12,619 wallet addresses receive 400 UNI tokens each. However, for the successful receipt of the tokens, they must have interacted with the DEX through a third party or a proxy contract.

As per the numbers shared in the description on the official Uniswap website:

Specifically, this proposal transfers 5,047,600 UNI to a new MerkleDistributor contract, which will then allow for 400 UNI to be claimed by each of the 12,619 accounts held by users of the following projects:

Project Accounts % of total
Argent 3418 27.09%
DeFi Saver 890 7.05%
Dharma 2833 22.45%
eidoo 301 2.39%
FURUCOMBO 57 0.45%
MEW 4278 33.90%
Monolith 19 0.15%
Nuo 740 5.86%
Opyn 79 0.63%
rebalance 4 0.03%

Currently, the airdrop proposal has received upwards of 28 million votes. And around 1.3 million are against the helicopter-like distribution of Uniswap’s governance tokens. Voting will end on October 31 at 8 AM UTC. A quorum of 40 million votes is necessary to pass the proposal.

Dharma Protocol Proposed The Proposal Because…

Back in September, its users were left out of the initial airdrop. According to the Dharma team,

the way the retroactive airdrop was architected seemed to make a slight oversight in the snapshotting process — only addresses which directly called the Uniswap contracts were considered to be users.

Also, increased programmatic bot proliferation might have resulted in one user having multiple addresses. As per the description:

The Phase determination was made based on how easy it is to programmatically hook a trading bot into them, as this is a proxy for what portion of these cohorts risk representing multiple addresses per end-user. Phase 1 is the less programmatically accessible cohort, indicating a lower likelihood of multiple addresses per end-user.

If Phase 1 Passes, There Will Be Phase 2

On the successful passing of the first phase, Dharma has pledged to put in place a second UNI governance token distribution proposal. But they have also discretely mentioned their agreement to the final result (success or failure) of both voting processes.

If either Phase fails, we will accept that as the final determination of the Uniswap community. Should both Phases pass, we will not vote in favor of any further retroactive airdops.

Has this proposal gone down well with other members of the community? Well, some like Jeff Dorman, CIO of the investment management firm Arca have presented a bullish case for UNI (as opposed to those who think the proposal will actually devalue the token’s price).

In a detailed Tweet thread, Jeff called Uniswap’s governance token a ‘pass-thru token.’

UNI is being misrepresented as a “governance” token, and the market has shown that governance has no value. But in reality, UNI is a pass-thru token — where revenues will be passed thru to token holders. $UNI holders are about to earn a very large revenue stream in Feb 2021.
Will Jeff’s views hold true, and will we see the current phase of the UNI airdrop proposal win a majority? That remains to be seen.
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Source: https://cryptopotato.com/uniswap-retroactive-proxy-contract-airdrop-proposal-receives-28-million-votes/

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BREAKING: Bitcoin Just Broke To Its Highest Price Since Jan-2018

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Bitcoin is having a good year despite the coronavirus panics and the nervousness of the markets.

After reaching an annual high of about $13863 on Oct. 28, the world’s largest cryptocurrency by market capitalization underwent a sharp correction of almost $1000 before rebounding and stabilizing at $13281.

From that point on, it began a stable recovery process, with small daily growths, closing on Friday near $13680.

Today October 31st, Bitcoin managed to break that record, reaching $14,100 (Bitstamp) at the time of writing. This represents a 5% growth in the last 24 hours.

Bitcoin’s Ascend to New Highs

Bitcoin has been on a bullish streak since March, when the crash in the financial markets erased all the gains it had made throughout the year, taking the token to the lowest level since April 2019.

For those swing and position traders, things are looking pretty rosy. The cryptocurrency has respected the bullish channel that was formed since March. If the trend continues, the most robust support in the channel could be near $11,500 with significant resistance above $14,500, a level not experienced since early 2018, when the BTC bearish run began after the 2017 bubble burst.

btcusd_oct31
BTC/USD. Source: TradingVIew

From a technical standpoint, Bitcoin is in an overbought zone. The RSI is above 70 points, so caution is advised in the face of a possible later sell-off. Market sentiment and announcements from large financial institutions are currently serving as support to continue pushing up prices.

For example, MicroStrategy recently raised its investment in Bitcoin to $450 million. Square bought $50 million in Bitcoin, and PayPal added support for purchasing cryptocurrency. This has undoubtedly helped boost investors’ confidence who are tired of almost 2 years of struggling.

The MACD doesn’t give a clear signal to traders. Still, it does point to a continuation of the uptrend in the short term – although the closeness between the “short” and “long” lines shows that a normal correction can occur at any time.

Respecting Short-Term Boundaries

In the short term, Bitcoin has respected the Fibonacci retracements: The corrections have not broken below the $12,900 support, and both the RSI and MACD point to a possible price correction after the recovery.

The proximity of the U.S. presidential election could also play a key role in Bitcoin’s behavior in the coming weeks. There is a general belief that an eventual victory for Trump could lift investors’ optimism. At the same time, Biden could cause nervousness and a possible fall in the stock markets.

Bitcoin could follow these trends, although there are reports that, in general terms, the crypto is decoupling itself from any other traditional financial market. However, an eventual change of president in the United States is an event big enough to consider before making any investment.

If things stay within ordinary, Bitcoin could touch its ATH halfway through next year. Never before has Bitcoin’s price been above $10,000 for so long, and this is a sign of strength.

The bullish run of the past few months could also be considered the most apparent upward trend since the 2017 bubble. In fact, this movement looks more natural and mature than the one of 3 years ago.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/breaking-bitcoin-just-broke-to-its-highest-price-since-jan-2018/

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Crypto Market Cap Gains $15 Billion as Bitcoin Price Touches $14,100 (Market Watch)

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Bitcoin’s roller-coaster continued in the past 24 hours with significant fluctuations resulting in a few $500 moves and it finally breaking the previous 2019 high. The altcoins have taken a breather with some green charted, and the market capitalization has increased by around $15 billion.

Bitcoin Goes On A Wild 24H Ride

It’s safe to say that Bitcoin’s dull days are behind the cryptocurrency. As CryptoPotato reported yesterday, ECB’s announcement drove the asset to nearly $13,700 before losing about $450 rather rapidly.

The price drop resulted in BTC’s intraday low of about $13,150. Since then, though, the primary cryptocurrency has been gradually increasing.

Just a few hours ago, this materialized in a daily high of about $14,100 on Binance, which is a price point that we haven’t seen since January 2018. Since then the cryptocurrency retraced to about $13,900 where it currently trades. It’s interesting to see whether BTC will be able to keep up with its bullish momentum.

btcusd_chart
BTC/USD. Source: TradingView

In any case, Bitcoin’s dominance also increased slightly to where it’s currently sitting at 63.7%. This shows that altcoins have still been unable to break serious grounds, though most of them are in green dollar-wise.

A Breath Of Fresh Green For The Altcoins

The alternative coins didn’t enjoy the past few days. However, most have been recovering since yesterday.

Ethereum managed to sustain its price above $380 yesterday, and a 4% increase has driven it near $392. Ripple (2.1%), Binance Coin (1.6%), Chainlink (3.7%), Polkadot (5%), Cardano (2.6%), and Litecoin (5%) are also in the green.

heatmapt_overview
Cryptocurrency Market Heatmap. Source: Quantify Crypto

As it typically happens, more fluctuations are evident among lower and mid-cap altcoins. Blockstack leads the way with a 17% price jump, and ABBC Coin follows with a 16% increase.

Ren (11%), Ocean Protocol (10.5%), Yearn.Finance (10%), and Reserve Rights (10%) are the other representatives of the double-digit price pump club.

Overall, the total market capitalization has increased from yesterday’s low of $390 billion to $405 billion.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/crypto-market-cap-gains-15-billion-as-bitcoin-price-touches-14100-market-watch/

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