Welcome to my Hashing24 review!
First things first, I’m really happy for you that you’re willing to do your own research before joining any program as there are way too many online scams that can waste you a ton of time and money.
And this is the only way to stay away from scams and find the legitimate way to make money online!
Let me be completely honest with you, I’m not associated with Hashing24 in any form so I’m not here to sell anything to you.
So, if you’re doing research about is Hashing24 a scam or legit, rest assured that this is the right place.
In this review, I’m going to be giving you a thorough breakdown of Hashing24 and whether you should join this program.
Product Name: Hashing24
Price: Free to Join
Overall Rank: 40 out of 100
Hashing24 is a cloud mining platform founded in 2012 by a group of professionals, enabling people to get involved in bitcoin mining without having to manage their own mining equipment.
Let’s take a look at this short video to learn more…
What is Cloud Mining?
Cloud mining is the process of earning crypto coins by joining a shared mining pool of processing power through cloud mining platforms such as Hashing24.
Basically, all you need is to purchase a specific amount of hash rate, as known as the speed at which a miner operates in the cryptocurrency code, you can buy them from BitFury, Hashing24’s industrial mining equipment supplier where its data centers located in Canada, Norway, Iceland, and Georgia.
After a bitcoin block was mined by the mining pool, the block rewards will be distributed to each participant in proportion to their amount of hash rate. That is to say, the more hash rate you own, the more profits you’ll be able to earn.
If you’re on a tight budget, this option will work best for you since it doesn’t require a lot of money nor any prior knowledge to get started. You can simply join, get access to the data centers, and earn bitcoin from your laptop or mobile phone.
Another common way to earn cryptocurrency is to start individual mining.
Individual mining refers to the process of purchasing and maintaining your own miners rather than joining a shared mining pool. That being said, you’ll be able to earn 100% of the block rewards if a block has been successfully mined.
However, there are also some major drawbacks that you will have to take care of, including:
- High cost of equipment
- Electrical energy cost
- Time and energy required to learn how to manage the equipment
- 24 / 7 monitoring to ensure the equipment’s performance
- Maintenance fee on a regular basis
- Excessive noise, heat, and space produced
- Technical knowledge and skills to ensure the equipment performance
Even though you may be interested in having your own mining equipment, this option is simply too time-consuming and costly comparing to cloud mining. This is why most people especially beginners would normally start with cloud mining.
How Does Hashing24 Work?
Let me walk you through this 5-step process that you’ll need to follow to get started with Binance.
1. Register a Free Account
Go to the Hashing24 homepage and register a free account.
2. Set up a two-factor authentication
Once you’ve registered, you’ll need enable 2-step verification to better secure your account. Then, the system will generate 10 backup codes for you.
First, enter a 6-digit combination into the box requiring the Google Authenticator code. Each combination can only be used on one occasion.
After that, head over “settings” then “security” and click the “turn off” button.
3. Choose Your Plan
Choose how much hashpower you want and pay for your new contract.
You can choose from these 4 paying methods:
- Visa / Mastercard
- Bank wire transfer
4. The Mining Process Begins
As soon as you made the purchase, your order will be sent directly to BitFury mining data centers located in Europe and begin the 24 / 7 mining process right away.
5. Receive Daily Payouts
Start receiving your newly mined cryptocurrencies on a daily basis.
There are 3 types of support provided by Hashing24:
1. Sign in their website and submit a form within their “support” area
2. Email support
3. Phone support
Like I mentioned earlier, you’ll be purchasing hash rate in order to earn Bitcoins. To date, the base price of a 90-Day Contract = USD $1 per 100 GH / s (hash rate).
Unlike most cloud mining services, Hashing24 offers unlimited contracts for users to invest in. Besides, there are no set contracts on Hashing24, meaning that customer can select the hashing power and decide the profitability of the plan.
You can request a withdrawal any time you want, which will be processed the subsequent day after the withdrawal request has been made according to the UTC time. Also, there’s a minimum withdrawal amount of 0.002 BTC.
To get a better picture of the profitability of your contract, use the mining calculator within Hashing24 by filling in the required information and estimate how much you could expect to earn for your mining plan.
The Good & the Bad
1. A Legit Company
As you can see, Hashing24 is a real company located in Ireland. By working with them, not only you rent a small part of the world’s largest mining company but also get access to the best equipment manufacturers and top-notch data centers to deliver the best results.
2. Daily Payouts
Mining pools will credit the newly mined coins to your balance once each day for the preceding mining day. Also, Hashing24 will not charge any additional fee except for maintenance fee, allowing you to receive most of your mining payouts directly to your account’s balance.
3. Instant Withdrawal
Withdraws are processed instantly, which will normally be distributed within 24 hours.
1. Cryptocurrencies Are Volatile
For cryptocurrency mining, your earnings solely relies on the market captialization of bitcoin price. As a result, you could easily involve in capital loss due to rapid price fluctuation. This is why cryptocurrency mining should never be considered as a means to earn stable revenue online.
2. Low Earning Potential
With the growing number of mining pools along with advanced miners, bitcoin mining has been saturated and has become an extremely competitive industry where you simply cannot earn a considerable amount of money anymore.
Another reason is that bitcoin mining cannot generate consistent passive income.
If you’re not familiar with passive income, it’s basically an income that is earned without you trading your time and effort for it, for instance, earning money from real estate rental.
However, there are too many factors influencing your earnings when it comes to bitcoin mining, such as cryptocurrency prices, market price fluctuation, liquidity, and so much more, which is why it should not be deemed a source of passive income or investment.
So if you’re looking for a legitimate way to earn passive income, my recommendation is to start affiliate marketing.
What is Affiliate Marketing?
Affiliate marketing is the process by which an affiliate promotes other peoples or companies’ products and earn a commission when someone makes a purchase via his affiliate link.
Here’s a diagram explaining the 4-step process:
So how exactly could this process generate consistent passive income for you?
Basically, your online business (website) will be running 24 / 7 / 365 once you set it up, which doesn’t require your presence at all. If your website has become successful and get ranked on Google later, you can start making money while you sleep and be your own boss.
New to online marketing? Make sure to check out this post to learn how to create your very first website FOR FREE.
Let’s be clear about one point, Affiliate Marketing is not a get-rich-quick scheme.
If that is what you’re looking for, then it is probably not for you since building a successful business takes a lot of time and energy, and the work you put forth now, normally pays off MONTHS or even YEARS from now.
Who is Hashing24 for?
Hashing24 is for people who wants to earn instant bitcoin but don’t mind losing all your investment.
Personally, I would not recommend ANYONE to try it out.
VERDICT: NOT LEGIT
Is Hashing24 a Scam?
No, Hashing24 is a legitimate company where you can start bitcoin mining without any prior knowledge or having your own mining equipment.
But quite frankly, if you’re interested in earning massive passive income in the future, cryptocurrency mining simply don’t have this kind of potential and it’s not going to work for you.
Want to learn affiliate marketing but don’t know where to start? Check out this free course where you’ll be taught step-by-step how to set up your online business from scratch.
I’ve actually reviewed it before, check it out for yourself!