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CCG Cloud Mining Review​

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For those that are looking for reinvest options while purchasing cloud mining contracts, CCG review offers detailed investigation. We do not only cover a reinvestment service only but all aspects of the CCG business, including company information, available cryptocurrencies, plans, fees, and profitability. The ROI analysis takes into account different market scenarios to gain as accurate data as possible.

Finally, using findings from our research, we construct pros and cons that can be compared with CCG competitors.

 

 

ACTIVE CRYPTO PLANS

HASH POWER

PAYMENT METHODS

ROI (Bear trend)

ROI (Bull trend)

GENESIS MINING

BTC, DASH

1.5 TH/s – 1,000 TH/s

Credit Cards, BTC, LTC, DASH, DOGE, ZEC, ETH, BCH

Negative

2.5 years

CCG

BTC, BCH, ETH, ZEC, XMR, LTC

100 GH/s – 25 TH/s

Payeer, BTC

Negative

11.5 Years

BITDEER

BTC, BCH, ETH, ZEC, ETC, LTC, DCR, DASH

20 TH/s – 500 TH/s

BTC, BCH, LTC, DASH, ETH, BCH, T/T, USDT

1.4 years

0.8 years

CCG Company Information

The CCG company information provides insights into how this British firm organizes its operations. It is a licensed limited liability entity that primarily engages in crypto pool mining. It offers both cloud mining and regular mining services for several cryptos, Bitcoin included. They employ 459 ASIC devices within their mining farms, supported by 16 employees. A small yet powerful firm.

The firm was found in 2016, during a period when the crypto market exploded both in terms of market support and value. During 2017, the company laid foundations by investing in Bitcoin and altcoins when the bull run was strongest. CCG also has branches across Europe, with offices located in Poland, Great Britain, Russia, Latvia, Austria, and Czech Republic.

CCG Available Cryptocurrencies

CCG available cryptocurrencies rely on the existing mining equipment that the company possesses. As mentioned before, they employ ASIC miners, powerful devices that provide large hash power. Thus, cryptos that can be mined with such technology rely on Bitcoin’s algorithm, SHA256. Cloud mining follows the same route as well, with available digital coins for cloud mining being:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Zcash (ZEC)
  • Monero (XMR)
  • Litecoin (LTC)

You can purchase these plans with the help of Payeer, BTC, and altcoins that can be mined within CCG.

 

CCG Plans and Fees

CCG plans and fees revolve around a time period within which investors wish to reserve their place. Currently, there are two programs to choose from, which differ in terms of contract length and initial costs. These are:

  • 1 Year Programs
  • Unlimited Contracts

One year programs are classic contracts where you purchase hash power for a period of 360 days. Thus, the investment plan is then evaluated by the ROI you can get within that year, including maintenance fees and daily payouts.

Unlimited contracts differ from limited plans in two things. They are more expensive when it comes to the initial purchase value of the plan and they do not have an exact date of closure. This particular plan is long-term in nature, regardless of the price trends that may occur within the crypto market.

Maintenance fees are the same for both types of plans, standing at 0.00017 USD per 1 GH/S of purchased hash power. Cloud mining contract buyers have the ability to get hash rates based on their funding capabilities. The minimum hash power is 100 GH/s while the maximum is 25 TH/s. Compared to other platforms, CCG sits right in the middle of the competition in terms of its hash power flexibility.

 

CCG Payouts

For CCG payouts to start, you need to way 24 to 48 hours following the plan purchase. As for the payouts, they do not occur daily as with many other cloud mining platforms. Namely, you get paid in BTC (or altcoins) on the 15th and 16th day of the month and only if it is a working day. Thus, they accumulate daily payouts into one or two payments a month.

On the side of withdrawals, the minimum amount of BTC to transfer outside of CCG is 0.002 BTC. The same value works with other altcoins as well.

CCG Profit Calculator

We provide a detailed CCG profit calculator to analyze how profitable contracts are at this platform. To do so, we implemented a complex mathematical formula that takes into account the mining difficulty of BTC< its price, and maintenance fees. For more information on how we create a Bitcoin mining calculator, visit our Genesis Mining review.

As for the CCG, we use three different scenarios of market trends to gain results that correspond to real market movements. Below is a table of factors that are important when calculating the ROI of CCG plans.

 

Bitcoin Price

$8,600

Plan Cost

$1 089 

Hash Power (TH/s)

11

Maintenance Fees

56,1

Monthly Payout

0,0066 BTC

Cloud Mining while in Stable Market

Right off the start, CCG cloud mining while in the stable market provides not so good results. The maintenance fees and overall contract prices are too high for the proposed hash power. Figures below show that current CCG cloud mining contract pricing stands around the equilibrium. Thus, satisfying ROI is almost impossible to reach this point.

 

Months

01

02

03

04

05

06

07

08

09

10

11

12

TOT

Profit

$0.66 

$3.50 

$0.66 

($2.18)

$0.66 

$3.50 

$0.66 

($2.18)

$0.66 

$3.50 

$0.66 

($2.18)

$7.92 

                       

ROI

137.5

CCG Profit within Regular Market

Additionally, we did not include rising mining difficulty in our analysis. Thus, it is possible to even lose money if a proper trading strategy is not set in place. We recommend keeping coins until a bull run occurs to hedge against risks of price decline and difficulty growth.

Cloud Mining while in Bear Market

If a stable market was bad for CCG cloud mining, then the bear market is even worse. In this particular scenario, miners would incur heavy losses, due to how expensive hash rates are. The issue starts already in the first month, as CCG plans are already at the breakeven point. After that, any price decline would result in immediate losses, as seen from the figures below.

Months

01

02

03

04

05

06

07

08

09

10

11

12

TOT

Profit

$0.66 

($0.66)

($1.98)

($3.30)

($4.62)

($5.94)

($7.26)

($8.58)

($9.90)

($11.22)

($12.54)

($13.86)

($79.20)

                       

ROI

-13.8

CCG Profit within Bear Market

Thus, the only feasible strategy, if you decide to enter the contract, is to keep coins until bull run occurs. Then, you can hedge against price declines. However, if we add rising mining difficulty to the equation, then even rising prices would be of little help.

Cloud Mining while in Bull Market

As mentioned before, CCG cloud mining is not that profitable and this rings true even if bull run occurs. As seen from the figures below, if price surges up by 25% within a year, the ROI would be 11.5 years from the initial start. Thus, a 1-year contract is not a feasible choice for investors at the moment.

 

Months

01

02

03

04

05

06

07

08

09

10

11

12

TOT

Profit

$0.66 

$1.98 

$3.30 

$4.62 

$5.94 

$7.26 

$8.58 

$9.90 

$11.22 

$12.54 

$13.86 

$15.18 

$95.04 

                       

ROI

11.5

CCG Profit within Bull Market

This does not include a difficulty rate as well. If it rises, trade hedging might help you to an extent to keep ROI higher than 10 years. However, that is quite a long period to be stuck with frozen funds.

Overall Analysis

Our overall analysis of CCG cloud mining programs shows that plans need work to be profitable. Taking into account rising mining difficulty, it is almost certain that investors would lose money, rather than making a profit. Thus, keeping coins until a massive bull run occurs is of immense priority. At the same time, there are many other cloud mining platforms which have better ROI rates at this moment.

CCG Reinvest Option

In the situation if ROI would be positive and attractive, CCG reinvest option is a really interesting service. The platform offers the service for both types of plans and can help you power up even further on hash power. 

You can reinvest manually when the price of the crypto is about to rise. Or, you can ask a support representative to add “automatically reinvest” to your account. However, we would not recommend implementing the latter as mining difficulty and BTC price can get in your way.

Lastly, you should consider this option only when a serious bull run will occur. Holding your coins without selling them is the best course of action. Our data show that CCG plans, at the moment, are not that profitable to make reinvestment option a must-have. We recommend using it only at a specific time when BTC price is about to explode.

Pros and Cons

After careful consideration of results, here are pros and cons of investing in CCG cloud mining plans.

Pros

  • Possibility to purchase plans with both fiat and cryptocurrencies
  • Reinvest service available when the market is experiencing a bull run

Cons

  • Hash power prices very high
  • Payouts occur monthly, rather than daily
  • 1-year plans are unprofitable due to high initial costs and maintenance fees
 

Conclusion – Is CCG Legit?

Is CCG a legit company to invest in? In terms of security and payout regularity, the answer would be yes. However, if we look into our ROI analysis, the company has a lot of work to do. Its yields are uncompetitive when compared to other cloud mining platforms. Hash power costs need to be lower and so do initial plan costs.

The post CCG Cloud Mining Review​ appeared first on Cryptocoinzone.

Source: https://www.cryptocoinzone.com/cloud-mining/ccg-cloud-mining-review%e2%80%8b/

Blockchain

Cardano, Ontology, Crypto.com Coin Price Analysis: 19 September

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Cardano formed a bearish pattern on the charts as it braced for another dip in its price. The bearish pressure on the crypto-asset abated briefly, but sellers once more stepped in at a level of resistance to effect a slide for ADA. Crypto.com Coin, on the other hand, formed a bullish pattern. Ontology also displayed signs of bullishness.

However, since major altcoins seem to bleed whenever Bitcoin makes a move to the upside or down, another move could invalidate altcoin chart patterns.

Cardano [ADA]

Cardano, Ontology, Crypto.com Coin Price Analysis: 19 September

Source: ADA/USD on TradingView

Cardano appeared to form an uptrend from its recent lows as it briefly rose past its resistance at $0.097. However, sellers have prevailed since and the price was forming lower highs over the past week.

ADA formed a descending triangle pattern, as shown by the white line. This was accompanied by falling trading volume, also highlighted by the same. Such a bearish pattern signaled an imminent drop in the asset’s price.

The next level of support for ADA, beneath $0.091, lay at $0.085.

Cardano was in the news recently when IOHK announced a $250K public fund for Cardano community innovation, Project Catalyst. “Anyone can bring their idea and create a proposal,” the announcement said. “Through a public vote” winning proposals will begin a development process, it added.

Ontology [ONT]

Cardano, Ontology, Crypto.com Coin Price Analysis: 19 September

Source: ONT/USD on TradingView

The 20, 50, and 100 SMA (white, yellow, and pink respectively) showed that the past couple weeks have seen an uptrend. Their crossovers also indicated bullishness in the near-term.

Further, the MACD was forming a bearish crossover over the past few days. And yet, the previous week saw every price drop beneath this support being bought up as many candles near the $0.78-support level had significant tail wicks.

The outlook for ONT remained bullish, but a close beneath the support might suggest short-term bearishness.

Crypto.com Coin [CRO]

Cardano, Ontology, Crypto.com Coin Price Analysis: 19 September

Source: CRO/USDT on TradingView

Crypto.com Coin was forming a bull pennant on its 4-hour charts. The same was evidenced by the white lines which formed the pennant, while the yellow line formed the flag pole of the pattern. The height of the flagpole is generally the upside target for this pattern. Here, the target would be $0.19.

The Parabolic SAR also gave a buy signal. The dots formed by the indicator would be a good place to set a stop-loss, as the pattern would be invalidated if the price closes beneath the pennant.

Source: https://eng.ambcrypto.com/cardano-ontology-crypto-com-coin-price-analysis-19-september

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Blockchain

MyCoinStory is the 1st exchange to list SUN and KLAY derivatives

MyCoinStory is the first cryptocurrency exchange to launch SUN and KLAY tokens derivates SUNUSDT and KLAYUSDT future contracts are the first MCS’s “Colorful Quanto” products This comes as a part of expanding MCS’s portfolio of products Today comes the news of the world first. MyCoinStory (MCS), a global exchange specialized for trading cryptocurrency derivatives, has […]

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  • MyCoinStory is the first cryptocurrency exchange to launch SUN and KLAY tokens derivates
  • SUNUSDT and KLAYUSDT future contracts are the first MCS’s “Colorful Quanto” products
  • This comes as a part of expanding MCS’s portfolio of products

Today comes the news of the world first. MyCoinStory (MCS), a global exchange specialized for trading cryptocurrency derivatives, has listed SUNUSDT and KLAYUSDT future contracts.

Both of these products are the very first of their kind in the world. They are also among MCS’s first two offerings in what they call the “Colorful Quanto” group of products.

SUN token in SUNUSDT futures is widely considered to be the most acclaimed experimental Decentralized Finances project run by the TRON Foundation. As a reminder, TRON Foundation is the company behind TRON Protocol.

KLAY token is the native currency of the Klaytn blockchain behind which is the Ground X. This company is the subsidiary of the largest South Korean mobile platform, Kakao Corporation.

MyCoinStory offers quanto futures

Quanto contracts are special derivative instruments that are not settled in either base or counter currency of the pair. Instead, they are settled as a different asset. In the case of these two products, settlements are in bitcoins.

MyCoinStory has announced that it will continue to focus on introducing new unique quanto contracts products. This they hope will preserve their position as leaders in the market.

There is a wealth of different cryptocurrencies on the market, and often they show a high frequency of fluctuations. With quanto features, MCS is striving to increase the diversity of products they offer on their trading platform.

What is MCS?

MyCoinStory or MCS is a brainchild of financial and blockchain experts. It’s a trading platform centered around bitcoin derivative products.

As their mission, MCS states the curation of a democratic trading platform for cryptocurrency derivative. One where anyone can trade with disregard for their location of level of expertise.

For this purpose, MCS has partnered with custodian BitGo, one of the leaders in the digital assets custody industry. Based on the customers’ feedback, MyCoinStory continually improves its trading platform and diversifies its products’ offer.

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Blockchain

Etherum Fees Double In a Week As DeFi Heats Up

The average fee for transactions on Ethereum has reached its second-highest level ever, after setting the record earlier this month.

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In brief

  • The average Ethereum transaction fee rose to more than $11, more than double last week’s figure.
  • Daily average fees still haven’t dipped below $2, continuing a record-breaking streak.
  • More hash power is being added to the network.

Ethereum fees remain at historically elevated levels, as miners scramble to add capacity and profit from record-breaking network activity levels.

Average transaction fees on the Ethereum network have more than doubled since last week, rising to $11.61 on September 17 and maintaining a streak of prices above $2 that’s now lasted for more than a month, far longer than any previous stretch at those levels.

The Ethereum blockchain hash rate—the amount of computational power that supports the network—has also increased to levels unseen since 2018 as miners add capacity to their operations, signaling market activity on both the supply and demand sides that have (almost) never been higher.

Fees paid by users to send tokens or interact with smart contracts on the Ethereum network serve as a measure of network activity, with higher averages translating to more transactions on the network. The average fee of $11.61 was the second-highest daily average on record, only falling short of the record $14.58 average daily fee set a few weeks earlier on September 2, according to blockchain data provider BitInfoCharts.

The total amount of mining power helping process transactions on the Ethereum blockchain has also been on the rise. Ethereum miners use ‘rigs’ of connected computer graphics cards (GPUs) to produce blocks for the Ethereum blockchain, adding ‘hash power’ to the overall pool. In return, miners receive a small and gradually decreasing block reward of ETH, as well as mining fees paid by users to use the network. 

With fees at some of their highest levels ever, miners have been adding more and more hash power, increasing the total close to 250 terahashes per second—that’s 250 trillion tries to find the right mathematical computation to find the next blockchain block. That figure is up 30% since the start of July according to blockchain explorer Etherscan, and the hash rate has only ever been higher during a period from February to November 2018, when the hash rate peaked at more than 290 terahashes per second. 

Record activity on the Ethereum network is being driven by DeFi, a system of decentralized applications enabling non-custodial, crypto-based lending services and fees for users providing liquidity for trades on decentralized exchanges. DeFi aims to replace centralized rent-seeking financial institutions with protocols offering the same services, but in the hands of the community of supporters and users.

With average fees at some of their highest levels ever and Ethereum miners gearing up for even more network activity, it seems like ETH prices, still off from a recent September 1 peak of more than $480, could be headed skyward, too.

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