Welcome to my Hashnest 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 Hashnest in any form so I’m not here to sell anything to you.
So, if you’re doing research about is Hashnest 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 Hashnest and whether you should join this program.
Product Name: Hashnest
Overall Rank: 30 out of 100
HashNest was founded in 2013, which is one of the earliest cloud mining companies on the market, enabling people to start cryptomining without having to manage their own mining hardware.
Up until now, Hashnest has served more than 400,000 users all over the world where supporting 5 types of cryptocurrencies: Bitcoin, Litecoin, Zcash, Dash, and Grin.
For users’ convenience, Hashnest provides with an additional feature where users can buy, sell, and trade hash rates on its own market to start earning extra revenue.
Take a look at this short video to learn more about their data centre and mining process..
What is Cloud Mining?
Cloud mining refers to the process by which users can start crypto-mining by joining a shared mining pool without setting up their own physical miners. All you need to do is to buy hash rates, which is the operating speed of the miner.
When a block was successfully mined, all the participants within the same mining pool will share the rewards according to the proportion of hash rates. That is to say, the more hash rate you possess, the higher profit you receive.
Comparing to physical mining (mining with your own equipment), cloud mining has plenty of advantages that you should take into consideration:
- No noise and heat will be produced.
- No installation and infrastructure are required.
- No additional or hidden fees like labour costs will be charged.
- Hashnest technicians are equipped with skills to manage any malfunctions or maintenance.
- Much lower initial cost to get started with cryptocurrency mining.
These are just some of the benefits that were raised for cloud mining, but they are more than enough for you to reject physical mining.
How To Start Mining With Hashnest?
1. Register An Account
To start using Hashnest, register an account on their website. Then you’ll get a Hashnest wallet address where you can receive daily mining payouts.
2. Choose Hashrate
There are 2 ways to buy hash rates at Hashnest:
- Purchase a mining contract
By purchasing a mining contract, you’ll be having your own miner mining for you according to the miner’s hash rate capacity as soon as 72 hours after the payment.
- Buy hash rates from the Hashnest’s market
The mining process will start once the transaction is completed. The minimum hash rate for each purchase is 1 TH / s.
3. Top Up And Pay
Currently, Hashnest accepts 7 types of currencies: BTC, BCH, USDT, LTC, ZEC, Dash, and Grin. Also, you will need to deposit the coins into your Hashnest wallet to submit your purchase.
4. Mining Begins
Once your order have been processed by their mining farms, the mining process will begin immediately 24 / 7 with 100% uptime.
5. Receive Daily Payouts
You can check your all mining payouts history at the dashboard.
6. Withdraw Your Daily Payouts
Hashnest users can get access to 2 types of support:
1. Ticket Support
Head over the “Submit a request” section on their main website to raise your concerns to the support team of Minergrate. However, don’t solely count on this support because they will only respond from Monday to Friday 9 am to 6 pm (UTC+8), and not including public holidays.
2. Email Support
If you want to learn more about cryptocurrency or their company, check out their FAQ page to get more comprehensive information.
At present, hashnest only offers 1 mining contract:
- SHA256 Bitcoin 55W Perpetual Contract = USD $19.99 / THS
According to the profit calculator, 1 THS equals to USD $0.04034 per day, meaning that it takes 496 days for you to cover the cost and start receiving any profits.
Alternatively, you can purchase your own miner to mine for you as there’re 6 miners available for you to choose from:
- Antminer K5 = USD $1499
- Antminer S17pro = USD $1299
- Antminer S15 = USD $399
- AntminerS15-BCH = USD $399
- Antminer Z11 = USD $1699
- StrongU STU-U6 = USD $1999
Normally, these high-end miners can only generate 1 – 3 dollars per day, which is not worth your investment whatsoever while there are other ways out there that have a much higher earning potential.
Who is Hashnest for?
Hashnest is for people who would like to try cryptocurrency mining without setting up their own mining hardware.
But it is definitely not for beginners who are wanting to start an online business and generate consistent revenue on the internet.
VERDICT: NOT LEGIT
Is Hashnest a Scam?
Fortunately, Hashnest looks pretty much the same pattern as other legitimate cloud mining sites and I don’t really find any negative review about it on the internet, so I guess it’s safe to say that Hashnest is not a scam.
Like most cloud mining platforms, although Hashnest claims that their site won’t charge any additional fees and cloud mining is a great way to earn long-term passive income, it’s simply not the case.
In fact, it’s very likely that your mining pool isn’t going to solve and mine any block at all considering the low expected profits as well as mining difficulties.
The truth is that you have to purchase a lot of hash rate in order to earn a full-time income. And in general, the vast majority who get involved in cryptocurrency mining do not earn their money back.
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