Minergate.com Review
- More than 3.500.000 users
- Transparent pricing structure
- 99% pool uptime backed by SLA
- No live chat feature
- BTC mining pool no longer available
- Some information on the site is outdated
Minergate makes cryptocurrency mining affordable and profitable for anyone. They provide a possibility to join their pool for a low fee and mine 14 different altcoins. Bitcoin cloud mining is also available through their partnership with Hashing24. The hashing power is interchangeable between the coins with their smart mining contracts so the users always get the highest possible profit that can be achieved.
About Minergate
Minergate mining pool has been created by a group of cryptocurrency enthusiasts. They have 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.
Minergate is not listing it’s owners and founders on their platform and the company’s location is unknown as well. Minergate CEO, Claude Lecomte is frequently appearing on cryptocurrency sites to share his view on bitcoin, altcoins and blockchain technology. However apart from crypto blogs, Lecomte’s professional background is not on the internet. Therefore it is not known who owns or who are running the company.
The hashpower for bitcoin cloud mining is provided by Hashing24 company. Hashing24 is a Scotland based cloud mining service provided which is using ASIC miner chips from the newest series to keep mining profitable. Their mining farm is located in Iceland and Georgia. They are using air and immersion cooling technology in order to keep costs at a low level.
Minergate on Social Media
- Facebook: https://www.facebook.com/MinerGate
- Twitter: https://twitter.com/MinerGate
- Google+: https://goo.gl/W1I3kf
- Instagram: https://instagram.com/MinerGate
Coins:
- Zcash, Bitcoin Gold, Ethereum, Ethereum Classic, Monero
Address:
N/A
Services Provided
The main function of Minergate is the multi-cryptocurrency mining pool. With their software, miners can join their pool and choose from the various altcoins or let the system choose for them. Due to the automine function that they call as smart mining contract, it is possible to automatically mine the most profitable coins from the hashpower purchased or ownerd. In order to use the service, Minergate charges 1%-1.5% pool fees. Payouts are based on PPS or PPLNS methods that is deducted from the daily earnings.
Minergate also offers cloud mining services for bitcoin through the contracts provided by their partner Hashing24. The hashpowers can be directly purchased from Minergate website after registration. On the Dashboard, clients can setup the mining plan by purchasing the amount of hashpower desired. After choosing the right package, on the payment details page a unique bitcoin address is provided where the price of the contract should be transferred to. Minergate only allows bitcoin as payment method, there is no option to pay by credit card or wire transfer for the hashpower.
The minimum purchase amount for bitcoin cloud mining is 20GH/s. The contract is not starting if the payment on the provided bitcoin account is below the price. Also, the maintenance fee is deducted from the account daily and if there is not enough funds on the account for 3 consecutive days the mining contract is cancelled. The earnings are starting 24 hours after the contract has started.
Users receive the earnings from cloud mining as soon as the block is found and added to the blockchain, the payouts are happening daily. In order to increase security, Minergate uses email confirmation for all transactions, including payouts and purchases.
The lowest threshold for withdrawals is set to 0.01 coins for each crypocurrency, including bitcoin as well. This withdrawal threshold is high considering the bitcoin price is much higher than the rest of the coins, so in order to cash out the invested money, clients have to wait until enough money is gathered on the account from the mining. And mining 0.01 BTC in these days either require a lot of hashing power of a lot of time.
The Google Play application lets the users monitor their mining activity on their smartphones from anywhere at anytime. Minergate offers various charts and tables to monitor the performance of the mining pool. They also have a detailed information sheet about altcoins, it’s specifications, strenghts and weaknesses that can help the clients to choose the optimal altcoin combination they this is the most profitable.
Fees and Pricing Schedule
Clients are able to purchase bitcoin cloud mining services starting from 20 GH/s. This minimum purchase is much higher compared to other cloud hashing companies, which usually offers cloud mining from 1 GH/s. At Minergate, clients can buy cloud mining contracts up to 1 million GH/s. Considering the size of the biggest contract, probably in that case the full capacity of Hashing24 miners are purchased all at once.
The price of bitcoin cloud mining is a linear function of the hashpower purchased.
- 20 GH/s bitcoin cloud mining costs 0.0034 BTC
- 100 GH/s bitcoin cloud mining costs 0.017 BTC
- 500 GH/s bitcoin cloud mining costs 0.085 BTC
While the cloud mining contracts are priced in bitcoins, the maintenance fees are set in US dollars. After each 20 GH/s power purchased, clients pay 0.0066 USD maintenance fee that is a relatively low fee compared to competitors.
Minergate User Experience
Although the main profile of Minergate is not cloud mining, they make the process of purchasing hashpower quite smooth. The FAQ section has all the details, although the prices are only disclosed after registration. The calculator showing the price of the possible contracts are easy to use and very transparent.
Minergate website is professionally built and easy to navigate on. Although the option to purchase bitcoin hashpower is hidden deep in the site, the FAQ section has very clear guidance how to find that specific ’Buy’ button. Which eventually makes their sales revenue, so they better have it written clearly.
Overall Conclusion
Minergate is a multicurrency mining pool that recently started to provide cloud mining services for bitcoin. Even though their main activity is not cloud mining, the FAQ section perfectly describes the process how to buy contracts and what are the conditions in a plain, transparent language. The pricing is very straight forward, although the minimum purchase threshold of 20 GH/s means first time users have to commit themselves in order to try the service. Overall Minergate would be a very promising cloud miner on the market, however the lack of information on the company should warns users whether the cloud miner is operating legitimately.
Pros
- more than 3.500.000 users
- transparent pricing structure
-
99% pool uptime backed by SLA
Cons
- no live chat feature
- BTC mining pool no longer available
- some information on the site is outdated
Stay away!!! I bought 1TH/s of BTC could mining with minergate and it’s only earning $0.37 cents per day.
That is $0.70 gross – $0.33 maintenance fee. I would say their mining platform is far less profitable compared to others.
Stay away!!! I bought 1TH/s of BTC could mining with minergate and it’s only earning $0.37 cents per day.
That is $0.70 gross – $0.33 maintenance fee. I would say their mining platform is far less profitable compared to others.
Stay away!!! I bought 1TH/s of BTC could mining with minergate and it’s only earning 0.37 USD per day.
That is 0.70 USD gross – 0.33 USD maintenance fee. I would say their mining platform is far less profitable compared to others.
Stay away!!! I bought 1TH/s of BTC could mining with minergate and it’s only earning 0.37 USD per day.
That is 0.70 USD gross – 0.33 USD maintenance fee. I would say their mining platform is far less profitable compared to others.
this website sucks… like you mining but the profit is sharing… you get 10-20% and them got 80-90%… so dont invest here… this totally sucks
100% fake cloud mining system,
I purchased about 2874 GH/s power of mining and they just give daily credit about 1/4 real mining earnings and then deduct half of it for maintenance, they are scammers and their cloud mining contract is exactly ponzi scheme that don’t give real profits to you. i have sent 3 tickets to them and after 5 days they don’t want to answer.
The reviews below are correct tho one reviewer is a bit zealous lol .. ya They are taking so much of your profit it would be better for them to have fully ran . I reinvested to gain 1047 GHS the other similar one is making take 2.25-2.60 GROSS over 3 bucks daily .depends on the price. My new contract first payment not 2.25 even.. not even close .60 cents .. I thought was a glitch I mail support they said no discrepancy ..seriously. they expect over 1/3 your money in mining fees? difficulty increase 2 times a month not long before contract is gone ..AND before that will take forever to get .01 to withdraw. SCAM they think we cannot do a thing about it lol .. we will see.
They are taking so much of your profit it would be better for them to have fully ran . I reinvested to gain 1047 GHS the is making take 2.25-2.60 take.depends on the price.new contract payment not 2.25 even.. not even close .58 cents .. I thought was a glitch I mail support they said no discrepancy ..seriously.
I reinvested to gain 1047 GHS the is making take 2.25-2.60 take.depends on the price.new contract payment not 2.25 even.. not even close .58 cents.I thought was a glitch I mail support they said no discrepancy ,seriously.
ok those that may see i posted like 5 times .. when i clicked post it said not connected to server hit the back button kept shortening up the message thinking it was too large ..apologies
I am sorry, I laughed hard to the term “low maintenance fee”. Because I just calculated, if I cloudmine for XMR, my maintenance fee is greater than what I profit. Don’t even try
I am sorry, I laughed hard to the term “low maintenance fee”. Because I just calculated, if I cloudmine for XMR, my maintenance fee is greater than what I profit. Don’t even try. And, funny thing, it says that min withdrawal for , i.e FCN is 0.01, but the funny thing is, in order for it to be confirmed you have to mine 1 FCN. It’s just, they probably have reserved seats in hell or they directly work with them.. Just so you know..
TOTAL SCAM, 11.5TH/s 0.0003BTC per day, they scalp the shit out of you and fuck you in the ass. Where I should be getting close to 700$ a month or more I get 149$! they are a huge fucking scam.
Listen to us !!! This is a scam of astronomical proportions. Bottom line they take at least 70% of what you mine no mater if you add more.. You would be better off throwing your money in fire for warmth. Stay far away and read reviews from real user experience
Currently the most profitable cloud mining.
To be honest. all the numbers are right there. they are in no way taking up to 70% of anything. people need to stop being so butt hurt. my investments are coming back to me and that’s the important part. Only 300h on xmr any i make about .50+ a day without effort. its not much but we’re literally getting paid for letting them do the work
Minergate cloud mining for Bitcoin: It works fine and the set up process is easy. BUT Minergate takes 75% of the profit made from your cloud mining for which you paid and marks it as a “daily maintenance fee”. BEWARE. For example: today 1BTC would get you 46576.6186 Gh/s. That is about $20 per day according to their own calculator. However, the maintenance fee is $15 per day according to their cloud mining hash purchase portal. That means you only make $5 per day. 1BTC today ($6600) at that rate will take you 3.6 years to make up the cost. You have to do some calculations to even determine that your daily earnings would be in the same units since they try to mask the true cost by not giving you a clear $ to $ or BTC to BTC comparison. I’ve been using this service for 9 months now. Fortunately I didn’t put much financial capital in to start. So it’s not a big loss now that I know. Your best bet is to keep purchasing new hashing units based on the profit from your current cloud hashing. It will compound exponentially and pay you back more quickly.
“If it’s too good to be true, it probably is.”
I’m new here, but I already like MG for its ASIC mining support.
I’m new here, but I already like MG for its ASIC mining support.
I see no reason to write the pros and cons of this pool, you can find this information on the Internet, but this pool is definitely suitable for me.
It is because of this pool that I started using mobile mining. This site surprised me that you can earn coins using the phone, it’s convenient and practical.
Register, press the button, watch the timer count, get a profit – everything is simple. Completely working project, but there is no so much information on how to use it…
They completely screw you in payouts. I have a number of contracts and have tried effortlessly to get an honest answer from them. I have one that is 370 gh/s and it pays less than some that are only 100 gh/s. They are obviously cheating us and are about the only mining left out there. Do not expect much from them. I currently have 1539.9525 GH/s and receive anywhere from 28 to 39 cents a day. Takes way over a year to recoup your investment.
i want to say a very big thank you to JOHN BENJAMIN who has helped me in realiazing my dreams of becoming a bitcoin millionaire sooner than i expected. how did he do this? pretty simple. he connected my wallet to his mining stream and that way in was able to earn an average of 0’5BTC daily and today i’m living a life free of stress. want to be like me? then send a message to cryptocurrencyminers1@gmail.com and he’ll surely help you out. you can thank me later.
Minergate is a SCAM!