All About BTC, LTC, ETH mining as well as other alternative crypto currencies
The crypto mining and deposits with interest platform OXBTC has announced a Red Envelopes promotion in celebration to the Chinese New Year. This promotion allows newly registered users to get some free Bitcoin cloud mining hashrate at the platform absolutely free for 1 month. Depending on your luck you, when you open your Red Envolope, you might win between 1 GHS and 1000 GHS and the hashrate you get will be available in your account for 1 month and you get to keep all of the profits it generates without having to invest or buy anything. The duration of the promotion is between February 22nd and March 6th, so don’t miss your chance to get some free hashrate for a month and earn some extra BTC.
This promotion is probably in order to stimulate more people to buy cloud mining hashrate at the platform as apparently there is not much interest from users as expected with the high prices for hashrate. The initial price of $0.499 USD per GHS with $0.0009 USD per GHS per day maintenance fee was not very attractive and while there is now a new price at $0.399 USD per GHS with $0.0007 USD per GHS per day maintenance fee it is still not too attractive with the recent jumps in Bitcoin’s network hashrate and difficulty. The $13 USD per MHS for Litecoin cloud mining hashrate is also pretty high (Maintenance Fee: $0.02 / MHS / Day), even though LTC has shown pretty stable difficulty level and price for quite a while making it more predictable for profit calculation on the long term. With the not so great track record that the company previously had with the ZeusHash it is no wonder that they are not doing great with hashrate sales in this new platform as well, but when they give you free hashrate why not take it anyway.
Unfortunately their deposits with interest service is getting less attractive than it was before with Current Deposits down from 0.02% daily to 0.01% (cut in half) and the 30-Day Fixed Deposits are down from 15% APY to just 7%. Interestingly enough the HalleyBTC Bitcoin savings investment platform operated by the same people still has the same 0.02% daily interest rate and 15% APY for 3-day fixed deposits.