General information about Minergate.com
Minergate mining pool has been created by a group of cryptocurrency enthusiasts. They started with bitcoin mining but soon expanded the pool for multiple altcoins and introduced the option to simultaneously mine different coins without the decrease in hashrate.
A group of cryptocurrency enthusiasts created this Minergate mining pool starting with bitcoin mining first, but then the pool was expanded for multiple altcoins. Also, the option to simultaneous mining of different coins without the hashrate decrease was introduced later.
Unfortunately, there is no information available about the owners and founders of Minorgate on their platform, and no one knows where this company is located. Claude Lecomte, who is also a Minergate CEO, often shows up on various websites related to cryptocurrency in order to share his thoughts on altcoins, blockchain technology and bitcoin as well.
But the professional background of Lecomte can’t be found online. Thus, it is still not known who is running the company and who owns it.
Hashing24 company provides the hashpower for bitcoin cloud mining. This company is based in Scotland, and they use ASIC miner advanced chips for keeping mining process more profitable. Iceland and Georgia are the places where their mining farms are located. Air and immersion cooling technology are used for reducing the costs.
Coins and Algorithms:
For SHA256: Bitcoin
For CryptoNot: Monero
For Ethash: Ethereum
One of the most important functions of Minergate is the multi-cryptocurrency mining pool. Using specialised software it is possible to join the pool and choose from different altcoins what you are going to mine or let the system choose for you. There is an automine function here, which is also called a smart mining contract, and it will allow you to automatically mine the coins that are the most profitable at the moment from the hashpower purchased or owned.
Take note that Minergate charges 1%-1.5% of pool fees in order for you to use this service. PPS or PPLNS are the methods your payouts are based on, and they are deducted from the daily earnings.
It is also possible to use cloud mining services for bitcoin offered by Minergate, and they are provided by Hashing24. After you have registered, you can purchase the hashpower directly from Minergate website. There is an opportunity to set up your mining plan on the Dashboard by purchasing the amount of hashpower that you currently need.
When the right package is chosen, you will see a unique bitcoin address provided on the payment details page, and this is where the price of the contract should be transferred. Unfortunately, only bitcoin as a payment method is allowed, no option to pay by credit card or wire transfer for the hashpower is available.
20GH/s is the minimum purchase amount for bitcoin cloud mining. In case the payment on the bitcoin account provided is below this price, then the contract simply will not start. As a rule, the maintenance fee is deducted from the account on a daily basis, and in case you do not have enough funds on the account for 3 consecutive days, such a contract is cancelled. You will start getting your earnings 24 hours after the initiation of the contract.
After the block has been mined and added to the blockchain, the users start receiving their earnings from cloud mining. The payouts take place on a daily basis. Email confirmation is used for every transaction including purchases and payout. That is performed to increase security.
Usually, the lowest level for withdrawals is set to 0.01 coins for every cryptocurrency as well as for bitcoin. Such a withdrawal threshold is considered to be high, taking into account the fact that the price of bitcoin is way too higher than the rest of the coins, that is why to cash out the money you invested, it is necessary to wait until enough sum from the mining process is gathered on the account. So to mine 0.01 BTC nowadays will require a lot of time or a lot of hashing power.
With the help of an application you can download from Google Play, it is possible to monitor the mining activity on your smartphone anytime and anywhere.
Also, for you could monitor the mining pool performance, there are many charts and tables offered by Minergate. Those also contain a lot of information about altcoins, their specifications, strong and weak sides, that are able to help the users to choose the most optimal altcoin combination.
? Fees and Pricing Schedule
Considering the size of the biggest contract, probably in that case the full capacity of Hashing24 miners are purchased all at once.
It is possible to purchase bitcoin cloud mining services starting from 20 GH/s. The amount of this minimum purchase is compared to other cloud mining companies, which can usually offer the cloud mining from 1 GH/s. Minergate offers its clients cloud mining contracts up to 1 million GH/s.
At Minergate the cost of bitcoin cloud mining is a linear function of the hashpower purchased.
Bitcoin cloud mining price:
- The price of 20 GH/s bitcoin cloud mining is 0.00367 BTC
- The price of 100 GH/s bitcoin cloud mining is 0.017 BTC
- The price of 500 GH/s bitcoin cloud mining is 0.085 BTC
Monero cloud mining price:
- The price of 20 H/s monero cloud mining is 0.0679 XMR
- The price of 120 H/s monero cloud mining is 0.4085 XMR
- The price of 1000 GH/s monero cloud mining is 3.4235 XMR
Ethereum cloud mining price:
- ETH Cloud mining coming soon!
Go to MinerGate.com
Minergate.com User Experience
Cloud mining is not considered to be the main profile of Minergate, but the hashpower purchasing process is still very smooth. There are all the details presented in FAQ section, but one is able to see the prices only after registration. It is very easy to use the calculator that is showing you the price of the possible contracts.
Since the website of Minergate has been developed by a team of professionals, it is easy to navigate and use. The FAQ section will help you find the option to purchase bitcoin hashpower with that “Buy” button, as it is hidden deep in the website.
Their mining pool has 14 different altcoins available
Pricing structure is transparent and available at any moment
Low maintenance fee
Withdrawals are available from 0.01 coins, including Bitcoins too
Cloud mining is available only for Bitcoin and Monero
The minimum purchase is 20GH/s
Minergate is a mining pool for various types of cryptocurrency that started to provide cloud mining services for bitcoin not that long ago. It is known that the main activity of Minergate is not cloud mining, but anyway the process of buying contracts and the conditions of the whole procedure are described in the FAQ section in an excellent way.
Though the pricing is straight forward, you need to pay attention that the minimum purchase threshold is 20 GH/s and that means that the users who try the cloud mining for the first time have to commit themselves in order to use this service.
In summary, Minergate is a very promising cloud miner on the market today, but the lack of necessary information related to this company should warn its future clients to a certain extent.
Go to MinerGate.com