A month ago (on December 21, 2017) I decided to explore bitcoin cloud mining contracts and decided to give it a try for HashFlare.io
HashFlare.io (Affiliate link here - if you will click, register and decide to invest, I might earn 10% commission from that) - Estonia based cloud mining company
Please note - I'm not a financial advisor, services mentioned in this article use at your own risk and remember your capital is at risk, you could lose some or all of your money.
At the start it took me to spend a good amount of the afternoon, to collect both good and negative reviews about HashFlare.io before taking a final decision and developing plan - kind of dollar cost averaging by investing in additional hash power once in a month.
Here is what I told a month ago: I Just invested $50.60 in Hashflare.io Cloud Mining
Dude, this has been one crazy cryptocurrency investment year - at least for me. Starting simple buy and hold operations on Coinbase.com, extending to swing trades, crypto lending and now at the end of December 2017 ordering details for 12 GPU mining rig. I thought - that's it, there is no way more I could expose myself to cryptos. Turns out I was wrong, as there are still cloud mining contracts available.
Now, a month later Hashflare still is the latest addition to my investment portfolio and currently the smallest one, also I feel really surprised seeing its great performance after just first 30 days of operations. It is something I didn't expect.
I've started already upgrading my initial 0.23 Hashrate to 0.90 TH/s thanks to the so-called dollar cost averaging (buying additional hash power once in a month) and a few referral signups I got last week.
As of right now, the minimum upgrade for Bitcoin cloud mining on Hashflare is 0.1 TH/s for $2.20. Boosting initial hashrate from 0.23 to 0.9 TH/s is 30 days is a way more I was looking for, but hey - to make some serious money with HashFlare seems it's advisable to start at least with 1TH/s and not with 0.23 Th/s as I decided. Anyhow, hasharates are up, and so so daily payouts.
For the past 30 days, I've managed to increase daily payouts from about $0.48 to $1.15 today
As each new upgrade (additional investment) makes a new contract (currently for a one year). Right, now I'm in the accumulation phase of hash power, looking to grow it by 9TH/s by the end of 2018. But let's see how does it go.
Also, I want to play safe and I only reinvest 50 % from monthly earnings
Depending on what will be the withdrawal limits at the end of 2018 (a time when my yearly contracts will start to expire) - directing about 50% of profits to withdrawals seems a good option.
As the matter of fact, if withdrawal limits are kept at 0.05 BTC at the end of 2018, it could be even impossible for me to withdraw at current rates and without reinvestment.
It should be noted that earnings on Hashflare are made in BTC, so the total value of earnings in USD depends on BTC/USD exchange rates. If BTC goes up in value, so do earnings in USD, if it goes down, so do earnings in USD.