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Mining Rig Rentals Review

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About MiningRigRentals​

This MiningRigRentals review serves as an investigation of the clod mining industry in terms of profitability for investors. The report is organized in terms of important indicators of the investment that you should be aware of. These indicators are ownership, history, fee structure, available plans, and security features available at MiningRigRentals.

Apart from internal check-up, we also conducted a comparative analysis with other similar platforms. This is done through benchmarking the MiningRigRentals with platforms such as Minergate, Hashing24, Hashnest, and Nicehash. We conclude with general opinion on how attractive and reliable the platform is, especially in comparison with the industry.

Available Programs

Out of all cloud mining platforms, none can top the number of potential rigs (contracts) for mining that MiningRigRentals offers. You have 40 types of rigs in which you can invest at any time, including the most popular SHA256, Scrypt, and X11 rigs. You need to open up a pool upon which you can connect to hash power sellers.

Once done, you go to the marketplace and search for a suitable offer, detailing specific price for offered hash power. You can check out the marketplace in a snapshot presented below this text.

Available programs in MiningRigRentals

You are limited by hours of use per day but the contract itself can last as long as both parties reach an agreeable understanding. Thus, there is no limit to how long the rig will last. Maintenance fees are not charged separately but are rather part of the contract value when purchasing the deal. Instead, you have 2% on all rigs you rent. You also have the option to rent hash power only as well.

Fees and Payment methods​

MiningRigRentals, much like Hashnest, Minergate, and Nicehash, uses cryptocurrencies only as means of payment and withdrawal. The platform expresses all costs through coins that are available as payment options. The accepted cryptos are Bitcoin, Litecoin, Ethereum, and DASH. On the feed side, you only pay for miner expenses when depositing and withdrawing coins in and out of the platform.

These costs change on a day-to-day basis, based on the blockchain’s mining difficulty and how heavy the network traffic is. It is usually a small amount, ranging up to $15.

Profitability Analysis

In this section, we take the SHA256 rig published on the marketplace. The offered hash power stands at 450 TH/s for a price of 0.00006290 BTC per day. Maximum number of hours that the offer has is 10.000 hours, which we use as contract length. Thus, the total investment equals to 12.029625, which includes the 2% platform’s fee. Below is a profit/loss analysis result according to the BTC price of $10.200 and the current mining difficulty.

MiningRigRentals

   
 

BTC

Hash Power

450 TH/s

Program Cost (USD)

$122 702,18

Maintenance Fee

           –  

 

 

Daily Payouts (Coin)

0,03762

Daily Payouts (USD)

$383,72

   

Total Profit

$159 885,00

ROI

30,3%

   

ROI Days

320

Although ROI of 30% looks really great, you have to consider risks. The difficulty level can go up and price down, lowering your profit significantly. Another issue is that such deals are usually available for large rig purchases. The one in this example stands over $122 thousand, which is not really something a normal trader has.

Still, this result is by far the best out of all other platforms that we have investigated, including Minergate, Hashing24, Hashnest, and Nicehash.

Additional Services

Unlike other platforms, MiningRigRentals does not offer calculator tools that help you analyze the rigs’ profitability. To calculate profit margin, you need to use your own calculator, which is present on other platforms. The entire platform is oriented toward rigs solely, with no additional products available outside of cloud mining as well.

What you do have are API keys, meant for withdrawal sequence, rigs renting and rigs management. These are free to use though you need to train yourself on how to properly set them up if you are a crypto starter. You can check out the API page in the picture below.

MiningRigRentals Review - adding a new API key screenshot

Security

You have standard security functions available at MiningRigRentals, featuring two-factor authentication (2FA), email notifications, password and wallet managers. All of these functions are present in other cloud mining platforms, while website itself uses SLL encryption. The protection can thus be deemed as per industry standards, as seen in the snapshot below.

MiningRigRentals security

As for 2FA, you only have Google Authenticator which is weaker than phone factor. You also have a history of transactions, login records, and other statistical data. These are mainly used to check whether your account was hacked in the recent period.

Reputation

The platform perhaps has the best reputation in the cloud mining industry judging from comments on Reddit and BitcoinTalk. Other blog reviews also provide good grades for the marketplace, saying that it can be quite profitable if you find the right rig at the right time. One of the comments made in BitcoinTalk really summarizes the general opinion about MiningRigRentals: “… I have been on and off using them since they came online and like the interface and support, I have received… still some work …, but it’s a great service.”

Conclusion

In this MiningRigRentals review, we went over the security, reputation, and profitability of cloud mining services. The platform has the best ROI out of the investigated companies, including Minergate, Hashing24, Hashnest, and Nicehash. The P2P platforms obviously have a more competitive environment for you to use than B2C marketplaces.

Good reputation thus comes as no surprise at all. Security is average though, meaning that you should be careful with your balance. You should look to withdraw coins out as soon as you have a considerable amount.

The post Mining Rig Rentals Review appeared first on Cryptocoinzone.

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

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Fidelity’s Crypto Subsidiary Targets Asian Investors To Buy Bitcoin

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  • Fidelity Digital Asset Services (FDAS) has partnered with Stack Funds to enable Asian investors to purchase and store cryptocurrency assets more freely and securely. 
  • Based in Singapore, Stack Funds is a regulated fund manager focusing on Bitcoin and other digital assets.
  • According to the Bloomberg report, Stack Funds will make Fidelity’s secure custody services available to its clients, primarily based in Asia. The company outlined that the Asian market has been continuously growing in demand towards the cryptocurrency industry, especially from high-net-worth investors and family offices.
  • Stack further explained that all assets under its management will be audited monthly. The firm will provide insurance coverage, weekly contributions, and redemptions to enhance capital security.  
  • Stack’s co-founder, Michael Collett, said that Fidelity’s involvement will enable its company to attract even more investors from the region. 
  • On the other hand, Christopher Tyrer, head of Fidelity Digital Assets Europe, believes that “there’s a critical need for platforms which have a deep understanding of what local and regional investors are looking for.” However, he admitted that the digital asset space has “historically lacked” such platforms. 
  • After its success in the US, Fidelity Digital Assets expanded its cryptocurrency services to Europe last year. The company aims at entering the Asian market as well now with the Stack Funds partnership. 
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Source: https://cryptopotato.com/fidelitys-crypto-subsidiary-targets-asian-investors-to-buy-bitcoin/

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Hacked? Crypto Lending Platform Cred Suspends Deposits And Withdrawals While Cooperating With Authorities

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The popular cryptocurrency lending service Cred has announced that it has temporarily suspended all funds inflows and outflows. Without disclosing many details, the platform said it’s cooperating with law enforcement authorities to investigate an incident.

Cred Suspends Deposits And Withdrawals

The United States-based crypto lending platform, which recently announced joining Visa’s fast track program, updated its customers on Twitter regarding the latest troubling developments with a brief message.

“Unfortunately, we are unable to comment further at this time, but we will undertake to provide an update within the next two weeks. During this period, all inflows and outflows of funds will be suspended.” – read the statement.

Staying true to its fashion, the cryptocurrency community lashed out at Cred and its lack of details about what’s going on. This reaction prompted the lending protocol to comment once again. Firstly, Cred apologized for the concerns and inconveniences it has caused while it’s assessing the “business impact connected with a recent fraudulent incident.”

Furthermore, the post explained that Cred is currently cooperating with law enforcement authorities. However, it provided some reassurances claiming that “no client personal data or account information was compromised.”

It’s worth noting that Cred’s website reads that the platform works with “trusted security and insurance providers Fireblocks and Lockton to ensure that our customers’ digital assets have enterprise-grade security.” Nevertheless, several community members have questioned the state of their holdings on the platform, as they weren’t satisfied with Cred’s brief updates.

A Dissolved Partnership Saw This Coming?

Although it’s still unconfirmed if the so-called “incident” is indeed a hack, it seems that the issues have been transpiring for a while now. Days before Cred suspended deposits and withdrawals, one of its partners ended its relationship with the lending protocol.

The cryptocurrency wallet and trading platform, Uphold, announced on Sunday that users could no longer link their Uphold wallets to the third-party crypto lending provider Cred.

At the time of this writing, neither Uphold nor Cred have disclosed why their partnership agreement ended.

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Source: https://cryptopotato.com/hacked-crypto-lending-platform-cred-suspends-deposits-and-withdrawals-while-cooperating-with-authorities/

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Renowned Indian-American Author Deepak Chopra May Buy Bitcoin

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Deepak Chopra’s name is synonymous with meditation, mindfulness, and healing through healthy living. And according to the latest update, the world-renowned author and thought-leader is considering buying bitcoin. Mr. Chopra is also about to launch ‘Love in Action,’ his own blockchain-based token.

Deepak Chopra Officially Enters The Blockchain Space

It is important to note that Mr.Chopra had already stoked the ire of Ethereum bigwigs more than 2 years ago for being announced as a speaker at the Ethereal conference in New York in 2018. Vitalik Buterin himself blasted him as a ‘fraud’ publicly on Twitter. Nonetheless, the talk went well, as per Mr. Chopra.

Fast forward to 2020, the globally revered public speaker has announced his plans to officially launch his own token. Termed ‘Love in Action,’ its launch will coincide with Suicide Prevention Week. In the words of the Chopra Foundation, the token is a “worldwide campaign to heal the world.”

deepak_chopra_cover
Deepak Chopra. Image: CNBC

When the ex-United States (FDIC) regulator turned blockchain regulation commentator Jason Bretts tapped Chopra for technical details about the token, the latter said:

We are currently working on our strategic roadmap for the ‘Love In Action’ token. Our goal is to leverage the ‘proof of state/work’ on the Hedera platform to incentivize healthy behaviors and promote wellbeing via the token. We will initially leverage hbar as the currency and convert to our own coin in the latter part of 2021.

Mr.Chopra Also Considers Buying Bitcoin

Taking cues from Mr.Chopra’s famous interview with Oprah Winfrey, Jason marveled at the idea of Deepak sending some bitcoin to the popular celebrity talk show host. He contemplated mass adoption being sparked by that one event alone, recalling his prime goal to convince the meditation guru to buy BTC.

When the Value Technology Foundation President finally asked Mr. Chopra about his bitcoin holdings, the latter replied:

I have not bought any Bitcoin to date, but have been keen on cryptocurrency and how it can be used.

The mind-body healing practitioner also said that he doesn’t own any hbars, the native token of the blockchain protocol, which will power his own DLT project.

Brett, in his article, notes that it is not necessarily for everyone to buy bitcoin or any other cryptocurrency for that matter. It can also be just about leveraging the underlying technology for social good, which in Mr. Chopra’s case, involves improving people’s mental well-being.

Lastly, the ex-ConsenSys Policy Ambassador appreciated Mr. Chopra’s efforts at utilizing blockchain to help people live better. He said:

To the degree blockchain can be used by mental health professionals – or any professional – to help validate the truth of a person’s certification or to validate a person’s well-being seems like an excellent use of it.

Featured image courtesy of CNBC

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Source: https://cryptopotato.com/renowned-indian-american-author-deepak-chopra-may-buy-bitcoin/

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