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Eobot Review – Bitcoin and Crypto Cloud Mining Contracts

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Getting into cloud mining is quite a simple task, as you will see in this Eobot review. The platform in question offers the service by providing daily payouts, which we investigate in-depth. Here, you can find Eobot company information, available cryptocurrencies, details on how to go through account registration & verification, as well as cloud mining plans and fees.

Lastly, we provide a profit analysis under three different scenarios – stable, bear, and bull market trends. Thus, our readers get an accurate description of the platform, comparable with its main competitors.

 

Eobot Company Information

Looking for the Eobot company information, it is easy to see why it lasted for a long time. Namely, its operations started out in 2013 as a trade/exchange website for crypto investors. Even now, you can deposit and withdraw several cryptos, including BTC, ETH, LTC, BCH, and 18 more. 

Additionally, it is based in the U.S., meaning that its services are globally available, N. America included. Cloud mining came out a few years later, in 2017, quickly becoming one of the popular choices for crypto investors.

Eobot Available Cryptocurrencies

There are quite a few Eobot available cryptocurrencies that you can get at the moment. However, the only bitcoin is available for cloud mining. However, while mining BTC, you can exchange it with any other crypto, on spot. Thus, in a way, you can mine ETH for example – just not directly. 

Here are some of the cryptos (apart from BTC) that you can deposit, withdraw, and exchange within Eobot platform:

  • ETH
  • LTC
  • BCH
  • DOGE
  • XRP
  • DASH
  • TRX
  • ADA
  • 13 more

You can purchase plans with crypto only right now. The reason is simple – the company needs to accommodate legal requirements in markets it might wish to serve. 

Eobot Bitcoins Contracts, Plans, and Fees

Eobot Bitcoin contracts, plans, and fees can be seen as a bit complex for beginners. Namely, depending on what mining equipment your plan relies on, the fee and reward structure differ. Currently, there are two active contracts that investors can get into. Two main ( and active) contracts are:

  • GHS 5.0 (SHA-256)
  • GHS 6.0 (SHA-256)

GHS 5.0 Cloud Mining Plan

We start off with GHS 5.0 cloud mining plan, one we use for the profitability calculator in this guide. The contract offers much smaller up-front payment while keeping fees at the $0.00011 per GH/S, per day. The minimum amount of power that you can borrow from Eobot under this category is 1 GHs while the maximum is 100 TH/s.

In a sense, you pay more fees in this one but at the lower initial price. Thus, it is good for those investors that wish to get into cloud mining for a shorter time period.

GHS 6.0 Cloud Mining Plan

GHS 6.0 cloud mining plan is for those that plan to be in the game for a while. It is twice as expensive as GHS 5.0 but takes smaller maintenance fees, standing at $0.00009 per GHS, per day. Thus, if you wish to try out Eobot for a limited amount of time, this plan is not for you. 

There is no limitation on the contract length for either plan. However, GHS 6.0 is best used if you plan to receive payouts for a considerable time.

Eobot Payouts

Currently, Eobot payouts occur on a daily basis. Also, Eobot pays BTC only to its cloud miners. At the same time, the platform is an online crypto exchange as well. Thus, if you wish to gain daily access to other cryptos, such as ETH or LTC, you only need to swap them with BTC payouts.

The payout amount changes regularly, depending on the overall BTC mining difficulty and network supply. However, you can keep the coins within the Eobot wallet and wait for the price surge. This is especially useful if the market is experiencing a bear trend at the moment.

Eobot Profit Calculator

Much like with our other cloud mining reviews, Eobot profit calculator takes factors within three scenarios. The first is a somewhat stable market, where price changes are small. Second is a bear market, with the price dropping down over a year. Lastly, we analyze the period where dreams come true – the bull market.

As for the calculator itself, check out our Genesis Mining review. There, you will find the information on how we go about the calculator, what do we use, and how. Below, you can find the specifications used in this calculation.

Cloud Mining while in Stable Market

If we are talking about cloud mining while in a stable market, then Eobot does have something to offer. Well, sort of, since the ROI on a $1,000 contract is 2.3 years. With ups and downs, the platform’s maintenance fees take the front seat. The GHS 5.0 contract is less expensive than GHS 6.0 and such is more profitable.

It is clearly visible in the table and graph below that price surges are really crucial for a shorter ROI. 2.3 years to get your money back from the initial investment can be a long time to wait.

 

Eobot profitability with regular market

Compared to the top cloud mining platforms, Eobot comes off as an expensive alternative. This is mainly due to the maintenance fees and an expensive up-front contract price. With the ROI low, if we add rising mining difficulty, the profitability rate would drop even further. In this scenario, keeping coins until a bull run occurs would be the best course of action.

Cloud Mining while in Bear Market

Cloud mining while in a bear market at Eobot, although profitable, is not exactly a fun trip to take. With ROI 3.7 years, it is clearly not the best idea to put your money for such a long time if price drops occur regularly. However, maintenance fees, although high, are not that expensive that would render your investment profitless. Bellow table and graph attest to that.

 

Eobot profitability with bear market

The point on which contracts would hit the breakeven point stands at $5,585. That would be a 35% drop during a year, which is possible but not likely. Such a drop usually lasts for a short amount of time, with BTC value picking up later on. Thus, holding your coins while the bear market lasts would be a good idea.

Cloud Mining while in Bull Market

Nothing sounds better than cloud mining while in a bull market. With each passing day, your previous earnings get more and more value. With the uptrend closing in, Eobot’s ROI stands at 1.7 years or 19 months. Taking into account that most platforms provide two-year plans, this is adequate compensation, as seen from the table and graph below.

 

Eobot profitability with bull market

In our calculation, the overall value of BTC grew from 8,600 to $10,800 (26%). We all saw in 2019 that such movement is possible, though it could occur much quicker than a year. 

Overall Analysis

Putting up an overall analysis of the Eobot cloud mining plans, we can say that the platform could do with a bit cheaper maintenance fees. 

Are contracts profitable? Yes, they are. Can you earn a decent amount through Eobot? Now, that is a different thing. Although everything depends on the market trends, the ROI of almost 3 years to earn back the initial plan purchase is quite a long period, especially if bears make their move.

Pros and Cons

Taking into account profit margins and other benefits, here are pros and cons of purchasing Eobot cloud mining contracts:

Eobot pros

  • Instant exchange services for 17 cryptos other than BTC
  • No contract length limitations or fixed amount of months
  • Very Flexible hash power plans

Eobot cons

  • Somewhat high exchange fees (5%)
  • Fiats not allowed as purchase and exchange method

Conclusion – Is Eobot Legit?

Is Eobot legit? In conclusion, yes, it is. However, the ROI you can get out of it relies very heavily on bull runs within the crypto market. Thus, Bitcoin cloud mining contracts come off as slightly expensive, with ROI spanning between 1.7 and 3.7 years. Yet again, you do get the money back during price surges, mostly under two year period.

The post Eobot Review – Bitcoin and Crypto Cloud Mining Contracts appeared first on Cryptocoinzone.

Source: https://www.cryptocoinzone.com/cloud-mining/eobot-review/

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Bitcoin price hits the year to date high

Bitcoin price manages to hit the year to date high. Bitcoin price hit the YTD high at $13821. Would BTC price fall down after the US elections The king of cryptocurrency has just managed to get past all the barriers as the Bitcoin price saw the year to date high of $13821, albeit briefly. The […]

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  • Bitcoin price manages to hit the year to date high.
  • Bitcoin price hit the YTD high at $13821.
  • Would BTC price fall down after the US elections

The king of cryptocurrency has just managed to get past all the barriers as the Bitcoin price saw the year to date high of $13821, albeit briefly. The king is still enjoying a price near the yearly high just recorded.

At the time of writing the Bitcoin price stands at the $13753 mark. As reported earlier by Cryptopolitan.com the king was in for this rally since yesterday, when the price was holding the $13200 range.

Bitcoin price and US elections

It appears that the current United States election results are having a positive impact on the cryptocurrency realm as Joe Biden appears to be winning with a good majority.

Donald Trump has been one of the most controversial presidents in the history of the country and it appears that the likely news of his removal is instilling a fear of missing out (FoMo) in hodlers and newbies alike. However, the trading volume is not showing any major spike in the number of transactions therefore increasing the possibility of hodler, institutional, and whale buying.

On the other hand, the Whale Alert Twitter is reporting a mix of buying and selling which is mostly inclined towards the selling. The only other factor that is likely to be affecting the price hike is the increase in US dollar price owing to the pre-poll results showing a stable lead for Jeo Biden across the country.

Given the current situation, traders are likely to yield good margins on their Bitcoin trades since the cryptocurrency is likely to see new highs in the days to come. Cautious trading is advised as a security measure as always folks.

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Huawei’s New Phone Mate40 Will Have a Wallet For China’s Digital Currency

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Multinational technological giant Huawei announced today that its newly-launched smartphone has a built-in wallet that will allow users to store, send, and receive China’s national digital currency.

Announcing the features of the Mate40 series in a Weibo post, the company said that the device is the first smartphone that supports the digital yuan via a hardware wallet.

The Chinese giant said in the post that users would enjoy hardware-level security while being able to control and protect their anonymity. Users can also conduct dual transactions using the new device, meaning they can also send and receive payments offline.

According to Huawei, the device guarantees a new safe and convenient payment experience for users.
To celebrate the launch of the smartphone, the company said it is giving out a free Mate40 Pro to the Weibo user who shares the post the most until November 6, 2020.

Huawei Partners China’s Central Bank

Huawei has been an active player in the blockchain industry, and the company continues to develop its blockchain capacities.

In November 2019, Huawei signed a strategic partnership with the digital currency research unit of the People’s Bank of China. After conducting a massive airdrop for the digital yuan last month, the country is now close to fully launching the new currency.

Samsung Leads Blockchain Smartphones

Meanwhile, Huawei is not the only company exploring new generation blockchain smartphones with built-in crypto wallets. The likes of LG and crypto exchange Houbi have also ventured into the blockchain smartphone market, with Samsung taking the lead.

Samsung released its first crypto-friendly phone in 2019, which provided support for BTC, ETH, and ERC-20 tokens. Since then, the South Korean multinational electronics mogul has been expanding its phones’ interaction with cryptocurrency and blockchain services.

In May, the company partnered with US-based crypto exchange Gemini to allow users to connect to the Gemini mobile app without having to log in again. In July, Samsung added Stellar and Decentraland to its Blockchain Keystore wallet.

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Source: https://cryptopotato.com/huaweis-new-phone-mate40-will-have-a-wallet-for-chinas-digital-currency/

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UK Citizen Allegedly Used Bitcoin to Facilitate ISIS Members Prison Breaks

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A 27-year old British citizen had appeared before a local court because of allegations that he had used Bitcoin to send money to help ISIS members escape Syrian prison camps. The man, Hisham Chaudhary, has reportedly been a member of the Islamic State for over four years.

Terrorist Prison Breaks Funded By Bitcoin

According to the Dailymail coverage, Chaudhary has been an accepted member of the Islamic State since early 2016 – an infamous terrorist organization banned under UK law since 2014.

Some of his responsibilities within the group included gathering and transferring funds abroad to assist captured ISIS militants to escape from prison camps in northern Syria, controlled by the Kurds. Chaudhary’s preferable currency was Bitcoin. He acquired and sent an undisclosed amount of BTC to facilitate the transactions and remain hidden from authorities.

The charges against the 27-year-old also include compiling and disseminating a terrorist publication called The Wholesome Fruit In The Virtues And Etiquettes Of Jihad last year.

In total, Chaudhary faces seven charges. Four of them are against the terrorist publication, one for his association with the organization, and two counts of entering a funding arrangement. However, he hadn’t plea to the charges during his video appearance at Westminster Magistrates’ Court.

Crypto Connections With Terrorist Group Rise

Bitcoin’s involvement with terrorist organizations has been spiking in the past few months. Reports surfaced in early August that the US Department of Justice (DOJ) had seized over 300 cryptocurrency accounts linked or operated by three notorious groups – al-Qaeda, Hamas, and again – ISIS.

US law enforcement agencies followed the funds to the accounts on the Bitcoin blockchain, as everything is recorded on the network. They saw millions of dollars worth of transfers from fundraising campaigns and anonymous donation ending in the wallets.

Acting US Attorney Michael Sherwin commented that “these individuals believe they operated anonymously in the digital space, but we have the skill and resolve to find, fix, and prosecute these actors under the full extent of the law.”

Additionally, French authorities arrested 29 people allegedly operating a sophisticated network of funding jihadists and al-Qaeda members with digital assets. The police found evidence that the accused purchased cryptocurrency coupons in France. They transferred the details by secure messaging to jihadists in Syria, who retrieved the funds through digital asset platforms.

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Source: https://cryptopotato.com/uk-citizen-allegedly-used-bitcoin-to-facilitate-isis-members-prison-breaks/

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