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More About the Scryptcc Scrypt Cloud Mining Service
15, Feb 2014
After our initial excitement about the scryptcc cloud mining service where you can purchase scrypt KHS that will immediately start mining for you we can now share some more of our experience with the service. We have been using it already for almost half a day and it seems to be working very well so far, we’ve made a second BTC deposit and as soon as we got the third confirmation the Bitcoins were available for trading and purchasing KHS on the exchange. So we have increased our hashrate to 232 KHS for testing the service. Our initial 68 KHS were purchased with an exchange rate for 1 KHS of 0.00144390 BTC, but at the moment there is a slight decrease and you can purchase 1 KHS scrypt cloud mining hashrate for 0.00144360 BTC.
The income mining calculator over at scryptcc says that the return of investment will be something in between 90 and 180 days, the profitability of the mined altcoins probably changes often and that affects the earnings in each 10 minute session and thus the Break Even time is affected as well. However that will be true if you only purchase hashrate for mining on the long run, if you also start trading the hasrate on the exchange once there are more trades happening there as currently people are mostly buying as the service is new and there is big availability of KHS for sale. The chances are however the exchange rate will start to increase due to increase in the user interest and the price will probably start to grow. This gives you the chance to not only mine for profit, but also trade for some extra profit thus decreasing the ROI time.
So far our profit from mining with the purchased Scrypt cloud mining hashrate is about 0.00072291 BTC for about half a day, though we started with just 68 KHS and then increased our hasrate to 232 KHS at a later time. The mined profit comes in steadily and is available to you every 10 minutes, so you can trade what you have mined for more KHS or withdraw it if you wish, though for now we are reinvesting the mined BTC into more hashrate. We are still very positive about this Scrypt cloud mining service as it really has a lot of potential, so you should give it a try if you are interested. One thing that we are missing at the moment however is the ability to deposit LTC and trade for KHS (as an extra to the available BTC support) with them and also to choose if you want to get your mined earnings in LTC or BTC, after all we are talking about Scrypt mining here, so LTC support is a must have feature and hopefully we are going to see it added soon.
– For more information and to try out the scryptcc cloud mining service yourself…
- Published in: Cloud Mining|Tests and Reviews
- Related tags: alt crypto cloud mining, alt crypto mining, bitcoin cloud mining, BTC cloud mining, cex alternative, cex.io alternative, crypto cloud mining, ghs cloud mining, khs cloud mining, Litecoin cloud mining, LTC cloud mining, ltc cloud mining break even time, ltc cloud mining roi time, scrypt cc, scrypt cloud minign service, scrypt cloud mining, scrypt cloud mining break even time, scrypt cloud mining roi time, scrypt mining, scrypt.cc review, scrypt.cc test, scryptcc, scryptcc review, scryptcc test
Scryptcc is a new Scrypt-based Cloud Mining Service where you can purchase KHS and they will start mining alternative crypto currencies for you in the cloud right away. This service is really new and very similar to what CEX.io is for Bitcoin cloud mining, however here you re purchasing Scrypt processing power and not SHA-256 like with CEX. It seems that the service is just a few days old and although there is some polishing that needs to be made it seems fully operational and working with thousands of KHS already available for purchase. scryptcc offers both cloud mining and exchange for trading KHS, just like you can do on CEX.io with GHS and BTC.
In this exchange you can purchase KHS for scrypt-based cloud mining in a private pool, and the earnings you get are also calculated in BTC. There is no detailed information yet or ability to control what alternative crypto currencies the pool mines for you, but it should mine based on profitability such as DOGE or LTC for example (in the future there should be an option for the user to choose specific coin to be mined). The current lowest exchange rate for a 1 KHS is 0.00144390 BTC and according to the calculator that the service provides for checking your profitability you should be able to get a return of investment for about 180 days or half a year if you purchase KHS at that price. The good thing about Scrypt mining is that there are not yet serious ASIC devices on the market and there are already a lot of alternative cryptos to mine, so longer term investment in Scrypt could mining seems more reasonable than in SHA-256 cloud mining power.
We just started testing the scryptcc cloud based Scrypt mining service by purchasing a few KHS to test with, so we’ll keep you updated to what is happening and how things are going. Hopefully we are seeing something that will give some good alternative options for people that want to have access to higher Scrypt hashrate without having to deal directly with the hardware themselves. After you transfer some BTC to the service (only 3 network confirmations are required), you can purchase some Scrypt cloud hashrate on the exchange and the KHS you purchase are credited to your account and should start earning mining rewards every 10 minutes shortly. We just got our first small mining reward in BTC as you can see on the screenshot above that we reinvested into KHS. So we advice you to give the service a try with some small amount at first to see for yourself how things will be going as we decided to do. Have in mind that the service is still in Beta, so there could be some hiccups at first, but these will probably be dealt with quickly.
– For more information and to try out the scryptcc cloud mining service yourself…
- Published in: Cloud Mining|Tests and Reviews
- Related tags: alt crypto cloud mining, alt crypto mining, bitcoin cloud mining, BTC cloud mining, CEX, cex alternative, cex.io, cex.io alternative, crypto cloud mining, ghs cloud mining, khs cloud mining, Litecoin cloud mining, LTC cloud mining, scrypt cc, scrypt cloud minign service, scrypt cloud mining, scrypt mining, scrypt.cc review, scrypt.cc test, scryptcc, scryptcc review, scryptcc test
We’ve been using the CEX.io services for a while already and have decided to share some of our experience and tips and tricks in order to help you get the best out of the service if you are using it or plan to use it at some point. The idea behind CEX is that you can purchase BTC ASIC hashrate in the cloud, so that the purchased GHS will start mining Bitcoins immediately for you. CEX.io also has an exchange where you actually buy and sell hashrate – GHS for BTC or NMC, and also can trade LTC/BTC and NMC/BTC. The service also includes the Ghash.io BTC mining pool where your cloud hashrate is mining for you, and if yuo have physical Bitcoin miners you can also point them to that pool to mine coins for you – the pool fee is 0% and currently this is the largest of the BTC mining pools.
The fact that you don’t actually buy GHS at a fixed price, but instead you can purchase hashrate at the current market price is both a good and a bad thing. Due to the fact that there is an exchange available you need to trade BTC or NMC for GHS in order to get some hasrate to mine for you, so you can expect the price you will have to pay for 1 GHS to be 2-3 times higher than what you would pay for a physical Bitcoin ASIC. The good thing with cloud mining at CEX.io is that you can easily and quickly sell your hashrate at the exchange at any time. The bad thing is that there is a very high chance that in a few days or weeks of time the exchange rate per GHS will most likely be lower than the rate at you purchased. This is happening because of the constantly increasing difficulty of the Bitcoin network, and as a result the rate at which your cloud hashrate is mining coins for you will also drop in time. This makes it not worthwhile to invest in GHS on the long run expecting that you will end up with profit from what you have mined with the purchased hasrate after you sell the gigahashes you purchased on the exchange in a while.
What you should consider to do if you plan on using CEX.io effectively is to trade GHS on the exchange (there is a 0% fee for trades on that exchange) and while you are trading them the purchased hasrate will generate you some extra profit as it will mine for Bitcoins. This is simply the best and most profitable option that will give you the chance to make some extra profit, though it will require you to have some trading knowledge and experience in order to do the right decisions on the exchange. It is not a wise idea to look for automated trading solution to help you in trading such as the Cryptotrader platform that we’ve reviewed recently unless you really know what you are going to do with it. On the other hand the use of some sort of market indicators such as EMA can help you in making the right decisions at the right time. You can find a good source for technical analysis of the GHS market at Bitcoinwisdom, but be careful with these indicators as well as they can only help you identify the market trends and not guarantee you anything.
– For more information about the CEX.io Bitcoin cloud mining and exchange…
- Published in: Cloud Mining|Tests and Reviews
- Related tags: Bitcoin cloud miners, bitcoin cloud mining, Bitcoin cloud services, Bitcoin commodity exchange, Bitcoin GHS trading, Bitcoinwisdom, BTC cloud miner, BTC cloud mining, BTC cloud services, cex cloud mining, cex io cloud mining, cex io profitability, cex io review, cex io test, cex mining, cex trading, cex.io, CEXIO, ghash.io, GHS trading