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The Bitcoin cloud mining service and exchange CEX.io has announced its plans on introducing trading fees on their exchange. Up until now trading there did not have any fees, making the exchange very attractive place to trade due to the large trading volume as well. The lack of fee was also interesting if you were using an automated trading solution as it could more easily realize a profit without having to take into account a fee when executing trades. It was expected that sooner or later a fee would be imposed as crypto currency exchanges usually do get their profit from trading fees.
The introduction of the trade fee should happen within two weeks according to the official information and it will be implemented in two stages. Starting with a fixed commission of 0.2% for everyone and and then a month later moving from a fixed to flexible fee between 0.2% and 0.5%, depending on the 30-day trading history of each user. It is interesting to note that the reason given for the addition of the fees is because the platform is currently preparing the necessary foundation for the introduction of US dollars trading on the exchange and apparently BTC/USD and USD/GHS trading pairs will soon be introduced. CEX.io has also announced their plans on soon introducing Litecoin cloud mining as well, though no date for that is yet announced and it could take some more time before they have the right ASIC hardware available to provide the mining power they need for that.
- Published in: Crypto News
- Related tags: bitcoin cloud mining, BTC cloud mining, CEX, cex cloud mining, CEX trading fees, CEXIO, trading fees
Aside from CexIO there is another old enough service offering with long enough history in order to be able to consider it as a trusted in terms of Cloud Mining services for Bitcoin mining. That service is called Cloud Hashing and we’ve been keeping an eye on it for a while already, though we were a bit reserved about investing some coins in it due to the quite high process they have. You can rent 85 GHS for $999 USD, 370 GHS for $3999 USD or 1 THS for $8999 USD, the lower the cloud mining hashrate the less attractive it is in terms of break even time. The prices cited here are quite high and they are for 1 year contract, so we took the numbers in a Bitcoin mining calculator that is supposed to give us an idea on when you can expect to break even and the results weren’t promising at all. Do note that the calculator uses some fixed values that we gave it like 15% increase in difficulty each time and a fixed price for Bitcoin at about $560 USD. In a year the price of Bitcoin could be double than what we have at the moment, the difficulty increase may be lower or higher, so there are quite a few unknown variables to take into account.
Running the numbers for the cheapest 85 GHS cloud mining hashrate plan we got a really disappointing results, as you can see in the graph above if the conditions do not change in favor of serious price increase for the Bitcoin there is absolutely no chance to get even in just 1 year (the period of the mining contract) and even if the contract duration was 2 years you will still be in the red. Going for the 370 GHS plan also returns pretty much the same unfavorable results, and even the 1 THS plan at the current price is way too high. In order for these BTC cloud mining hashrate plans to be profitable for sure with the current conditions they need to be half the price to what they currently are. Otherwise you are most likely going to loose money instead of earn investing in the cloud mining hashrate at the current prices that Cloud Hashing has… that is if the price of the BTC stays at the same level for another year. If the price gets twice than what it is for the moment you can actually make some money, however the risk is higher and no guarantees that this will happen. Our friends at the 5 beste bitcoin casino sites Nederland 2023 advise all investors to be careful if you are considering investing in cloud mining hashrate in that service. We are probably still going to get a plan just so that we can properly test the service when we have some spare resources to invest there.
– For more information about the Cloud Hashing Bitcoin cloud mining service…
- Published in: Cloud Mining|Tests and Reviews
- Related tags: bitcoin cloud mining, cex.io alternative, cloud mining, cloud mining pofitability, cloud mining service, cloudhashing, cloudhashing break even time, cloudhashing cloud mining service, cloudhashing prices, cloudhashing profitability, cloudhashing roi, crypto cloud mining
Today the Bitcoin cloud mining service PB Mining has updated their website, something that they have previously announced. Earlier today there was a message about the update pointing to the new IP address of the website, though some of you might still see that message until the DNS cache is refreshed. The new website is not a complete makeover, but more like adding new features and improvements to the interface of the service. We are happy to see that some of the things that we did not like about it initially are now fixed, such as the ability to update your Bitcoin payment wallet address. There is now more clearly structured and detailed information about your cloud hashrate and when your cloud mining contract expires and so on. There could be a few more issues n the next days that need to be worked on, but hopefully things will be back to normal and the support of the service is working to bring everything back to normal after the update.
We’ve been testing the service for a month already and though we had some concerns when we first started, now we can say that most of them are gone. The service has been running stable and problem free and we were getting our mined coins each week on time. We are still not ready to invest a lot of coins in the service as we are still testing it, but we are gradually adding more hashrate pretty much each week or when the difficulty has increased. The reason or that is the decrease in price per GHS that the service has with each difficulty adjustment to the already most attractive price they have for cloud mining.
At the moment they have 78 THS worth of hashrate and the option to buy a contract at 0.0075 BTC per GHS currently says that it has all been sold out. This however can be a result of temporary disabling the option to purchase new hashrate until everything is operating normally after the move, the same can also be true about new registrations. If you are already using the service and are having some issues try contacting the support or post in the dedicated thread about the service on Bitcointalk linked below.
– To the PB Mining cloud mining service dedicated topic at the Bitcointalk forum…
- Published in: General Info
- Related tags: bitcoin cloud mining, Bitcoin cloud mining hashrate, Bitcoin mining, Bitcoin mining contracts, BTC cloud mining, BTC mining, BTC mining contracts, cex.io alternative, cloud mining, cloud mining hashrate, crypto mining contract, PB Mining, PB Mining Bitcoin cloud mining, PB Mining BTC cloud mining, PB Mining cloud mining, PB Mining first impressions, PB Mining review, PB Mining test, pbmining, pbmining break even time, pbmining first impressions, pbmining profitability, pbmining return of investment, pbmining review, pbmining roi, pbmining test