Hashing24 is one of the big names in the cloud mining scene providing an overall good service. They specialize in Bitcoin mining contracts although you should take the time to analyze the profitability of each.
Ease Of Use
One reason why a lot of people are skeptical of cloud-based cryptocurrency mining, is that many of the miners do not operate in the English-speaking world. Hashing 24 has no datacenters in English speaking countries, but it maintains a headquarters in Scotland, unlike some of its competitors.
Hashing 24 operates a mining farm or data center in the nation of Georgia; and a headquarters in Glasgow, Scotland. That makes it rather unique as an altcoin operator that maintains brick and mortar operations in major English-speaking nations.
Strangely enough, Hashing 24 does not provide services for residents of the United States. Even though; its headquarters is in Glasgow, Scotland, in the United Kingdom.
Despite that, a lot of people will be skeptical of Hashing 24 because some of its operations are in the Ukraine, a country in conflict with Russia. The Ukrainian power grid has been subjected to sophisticated cyberattacks that have been blamed on Russian hackers. This alone will make some people skeptical of Hashing 24; because those hackers might try to fund their operations by stealing Bitcoin from it.
What is Hashing 24?
Hashing 24 is a large cryptocurrency mining operation associated with the well-known blockchain company The Bitfury Group.
Hashing 24 maintains offices in Glasgow, the Ukraine, and Thailand. In addition to that Hashing24 maintains relationships with some other miners. Hashing 24 is one of the oldest cloud-mining operations and it has a strong reputation among customers.
Unlike Genesis Mining, Hashing 24 specializes in mining one cryptocurrency; Bitcoin. This makes it a good choice for persons that only want to invest or trade in that altcoin.
The specialization makes it possible for Hashing 24 to offer very low prices for its services. It was selling a 36-month plan for mining for 100 GH/s of watts per gigahash for just $25.84 (.00413907 BTC) on November 1, 2017, although this is a pre-order plan with the usual price being $34.
Like its competitors Hashing 24 operates a number of data centers where Bitcoin is mined or harvested from the blockchain. Customers pay Hashing 24 for the right harvest Bitcoin through its system. See this website for a good overview of bitcoin mining and how it works.
Hashing 24 operates a number of mining farms, large buildings that contain hundreds or thousands of special computers designed to mine Bitcoin at a number of locations around the world. Like its competitors, Hashing 24 maintains different centers and a decentralized operation in an attempt to protect miners from sabotage and hacking.
This is supposed to allow for 24 hours a day, seven-day a week Bitcoin mining, hence the name Hashing 24. The term hashing refers to the rate at which cryptocurrency is harvested which is usually determined by the speed or hash miners can get from a watt of electricity.
Is Hashing 24 a Scam?
Despite what some people think, cloud miners like Hashing 24, are not a scam. They are simply companies that sell altcoins mined from the blockchain to the public.
A lot of people view miners as a scam because they fail to make the big profits they hear about from them. One reason for this is that it usually takes several weeks or months and the investment of a lot of cash to make any real money from altcoin mining. Many people simply lack the patience and self-discipline for such investment.
There is an easy way to tell Hashing 24 is not a scam. It has been “Verified by Visa,” and was certified by MasterCard Secure Code. This means those credit-card giants have verified that its’ operations are legitimate. It also means that you can use Visa, MasterCard, and Maestro credit and debit cards to buy Bitcoin through Hashing 24.
Is Hashing 24 Profitable?
Hashing 24’s mining would be a good deal for a person that just wants to mine Bitcoin and lives outside the United States. Its rate is cheap and the website is simple and easy to use.
Other advantages to Hashing 24 are a 100% uptime guarantee and a payout that is based on-network hashrate. Theoretically, that means Hashing 24 can payout Bitcoin at the speed of the network. The 100% uptime guarantee means Hashing 24 will not charge customers if its network goes down.
The company’s website boasts that it uses the latest technology in the form of ASIC chips and air immersion cooling technology. It also maintains a good relationship with leading companies in the industry including BitFury and resells Bitcoins for some large companies.
Many cryptocurrency geeks will dislike it services because none of the other popular cryptocurrencies such as Ethereum and Litecoin are mined. Americans will definitely want to stay away because Hashing 24 will not work with them.A lot of people will also be deterred by the Ukrainian connection, which will make Hashing 24 a potential target for Russian hackers.
Despite those shortcomings, persons that just want to mine Bitcoin might be well served by Hashing 24. Those that want to mine a variety of altcoins will need to look elsewhere for a cloud-based mining solution.