2 October, 2018 seen 1,115It has been a time since I last time reviewed some of the cloud mining platforms. It was at the end of September when I…
CCG Mining is yet another interesting cloud mining company. Established in 2016, CCG mining offers not only investment in cloud mining contracts, but also sells custom pre-built mining rigs and VIP packages for large-scale investors.
Here, we I will review CCG Mining, trying to find answers on how legit it is, aren't there any signs of a scam, and of course will make some calculation to see is it profitable to invest with CCG Mining.
Disclosure: This article contains affiliate links to CCG Mining website, by clicking on links on this page and by making a purchase on CCG Mining, I migh earn an affiliate income at no cost to you. Also, you should understand that investments in crypto are a high-risk investment, cryptos are volatile, and you could lose some or all of your capital invested.
CCG Mining is a professional team that is doing everything in its power to make the tagline " We make it easy for you " available to anyone, regardless of where they live, knowledge about cryptocurrencies, and the level of involvement in cryptocurrencies. We work every day and create new innovative products to meet your biggest and most complex requirements while offering the most flexible and cost-competitive solutions.
Cloud Mining Contracts
CCG Mining offers several cloud mining contracts - for following cryptocurrencies - BTC, ETH, ZCASH, MONERO, DASH, LTC, and LBRY.
Cloud mining contracts for BTC and DASH are just for one year (although there is an option to purchase unlimited BTC mining contract), while ETH, ZCASH, MONERO, LTC, and LBRY for 2 years.
By default, CCG mining offers four BTC mining contract plans (Mini, Starter, Advanced and Pro)
Cheapest BTC 1 year contract cost $14.99 for 100GH/s (0.1TH/s). By choosing larger plans the price per hashing power decreases, for example, when investing in Starter plan, the price for 100 GH/s decreases to $12.49, Advanced to $11.97 and Pro $11.83.
Custom BTC mining cloud contracts are available, starting only 119.00 USD for TH/s
All, except BTC mining contracts, are exempt from a maintenance fee. In case of BTC, the maintenance fee for a contract is 0,00034 USD for GH/S per 24h.
How often will I receive my profit?
Newly mined coins are paid into your balance the 15th and 16th day of the month if it is a working day, if not - the next working day. Our minimum withdrawal amount is 0.002 BTC (and its equivalent in other currencies).
CCG Mining offers to purchase and store pre-built or custom mining rigs
Mining Rigs designate CCG Mining Rigs, which also are used in our own mining data centers, and that's where we generate the hashing power to calculate BlockChain algorithms. Mining Rigs are created for people who want to start their own adventure with Blockchain technology and have the necessary technical expertise to self-configure and manage Mining Rigs. We also recommend these solutions to the owners of a mining data centre or those who have the technical knowledge required to calculate Blockchain Algorithms independently.
Currently, there are offered six pre-built mining rigs with AMD and NVIDIA GPU. Cheapest mining rig with 6XAMD RX580 comes with a price $3,810 (excluding VAT)
Although an interesting feature, we believe that the end of GPU mining is close as newer and more powerful ASIC miners will be introduced to the market in 2018.
If cloud mining contracts or mining rigs are not enough for you, you could become a business partner of CCG mining by investing at least $49,000 in the so-called VIP package.
The package is created for customers, intending to invest a large amount of money or planning to widen their existing portfolio as much as possible. By choosing the VIP Package, you will become a CCG Mining business partner, so you will be able to participate in CCG Mining's new blockchain projects. Each investment offer, that the customer makes is being considered by CCG Mining individually and the most optimal investment program is selected, to provide the client with the highest level of profit is chosen.
In the case of large investments, you may become a co-owner of the Mining Data Centre and possess Mining Rigs with different technical configurations that are geared towards calculating different Algorithms. Thus you have a chance to become part of the team that creates new ICOs.
How much you could make from a $1,000 investment
Now, for the fun part. Is it profitable investing in CCG mining cloud mining contracts? One of the great features of CCG mining is an online calculator featured on the website go ahead, give it a try before deciding to invest some money.
According to the calculator featured on CCG mining website, with a $1,000 we could buy 5,050 GH/s bitcoin hashing power in an Open-Ended contract. A year after in theory we would mine about 0.12 BTC and according to the exchange rates as of writing this article (April 20, 2018 1BTC= $8700.71) that would give us $1,050.49 at the end of one year contract.
But here is the catch, this mining calculator is not showing us maintenance fee included, which leave us not to believe this calculator too much, but instead do our calculations our selves.
Now, let's start again. For a $1,000 we could purchase 5,050 GH/s or 5.05 TH/s hashing power. We also now, there is a maintenance fee for every GH/s every 24 hours 0,00034 USD.
Before counting how much possible profit we could make from mining, let's see what will be our fixed costs for such contract.
Yes, you will pay the maintenance fees $626 when investing $1,000 with CCG mining bitcoin cloud mining contract for a one year. The money will be deducted from your BTC profit.
Now deduct this amount from a possible profit, and we get = $1,050.49-626= $424.49. We have just lost $575.51 from bitcoin cloud mining contracts.
But let's not call CCG is a scam. At least, not yet.That's just how it works. Your profit will be determined by what will be the price of bitcoin after one year. To break even our $1,000 investment now, Bitcoin should be valued at least $14,000 a year after.
Also, you should consider a negative scenario as well - Bitcoin could actually drop in a value, let's say it drops to the $5,000 level in a year (0.12*5000-626-1000), you would definitely lose all your initial $1000 investment (as maintenance fees would eat it alive) and you would end this year with a negative -$1.026