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Mining Rig Rentals Review

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About MiningRigRentals​

This MiningRigRentals review serves as an investigation of the clod mining industry in terms of profitability for investors. The report is organized in terms of important indicators of the investment that you should be aware of. These indicators are ownership, history, fee structure, available plans, and security features available at MiningRigRentals.

Apart from internal check-up, we also conducted a comparative analysis with other similar platforms. This is done through benchmarking the MiningRigRentals with platforms such as Minergate, Hashing24, Hashnest, and Nicehash. We conclude with general opinion on how attractive and reliable the platform is, especially in comparison with the industry.

Available Programs

Out of all cloud mining platforms, none can top the number of potential rigs (contracts) for mining that MiningRigRentals offers. You have 40 types of rigs in which you can invest at any time, including the most popular SHA256, Scrypt, and X11 rigs. You need to open up a pool upon which you can connect to hash power sellers.

Once done, you go to the marketplace and search for a suitable offer, detailing specific price for offered hash power. You can check out the marketplace in a snapshot presented below this text.

Available programs in MiningRigRentals

You are limited by hours of use per day but the contract itself can last as long as both parties reach an agreeable understanding. Thus, there is no limit to how long the rig will last. Maintenance fees are not charged separately but are rather part of the contract value when purchasing the deal. Instead, you have 2% on all rigs you rent. You also have the option to rent hash power only as well.

Fees and Payment methods​

MiningRigRentals, much like Hashnest, Minergate, and Nicehash, uses cryptocurrencies only as means of payment and withdrawal. The platform expresses all costs through coins that are available as payment options. The accepted cryptos are Bitcoin, Litecoin, Ethereum, and DASH. On the feed side, you only pay for miner expenses when depositing and withdrawing coins in and out of the platform.

These costs change on a day-to-day basis, based on the blockchain’s mining difficulty and how heavy the network traffic is. It is usually a small amount, ranging up to $15.

Profitability Analysis

In this section, we take the SHA256 rig published on the marketplace. The offered hash power stands at 450 TH/s for a price of 0.00006290 BTC per day. Maximum number of hours that the offer has is 10.000 hours, which we use as contract length. Thus, the total investment equals to 12.029625, which includes the 2% platform’s fee. Below is a profit/loss analysis result according to the BTC price of $10.200 and the current mining difficulty.

MiningRigRentals

   
 

BTC

Hash Power

450 TH/s

Program Cost (USD)

$122 702,18

Maintenance Fee

           –  

 

 

Daily Payouts (Coin)

0,03762

Daily Payouts (USD)

$383,72

   

Total Profit

$159 885,00

ROI

30,3%

   

ROI Days

320

Although ROI of 30% looks really great, you have to consider risks. The difficulty level can go up and price down, lowering your profit significantly. Another issue is that such deals are usually available for large rig purchases. The one in this example stands over $122 thousand, which is not really something a normal trader has.

Still, this result is by far the best out of all other platforms that we have investigated, including Minergate, Hashing24, Hashnest, and Nicehash.

Additional Services

Unlike other platforms, MiningRigRentals does not offer calculator tools that help you analyze the rigs’ profitability. To calculate profit margin, you need to use your own calculator, which is present on other platforms. The entire platform is oriented toward rigs solely, with no additional products available outside of cloud mining as well.

What you do have are API keys, meant for withdrawal sequence, rigs renting and rigs management. These are free to use though you need to train yourself on how to properly set them up if you are a crypto starter. You can check out the API page in the picture below.

MiningRigRentals Review - adding a new API key screenshot

Security

You have standard security functions available at MiningRigRentals, featuring two-factor authentication (2FA), email notifications, password and wallet managers. All of these functions are present in other cloud mining platforms, while website itself uses SLL encryption. The protection can thus be deemed as per industry standards, as seen in the snapshot below.

MiningRigRentals security

As for 2FA, you only have Google Authenticator which is weaker than phone factor. You also have a history of transactions, login records, and other statistical data. These are mainly used to check whether your account was hacked in the recent period.

Reputation

The platform perhaps has the best reputation in the cloud mining industry judging from comments on Reddit and BitcoinTalk. Other blog reviews also provide good grades for the marketplace, saying that it can be quite profitable if you find the right rig at the right time. One of the comments made in BitcoinTalk really summarizes the general opinion about MiningRigRentals: “… I have been on and off using them since they came online and like the interface and support, I have received… still some work …, but it’s a great service.”

Conclusion

In this MiningRigRentals review, we went over the security, reputation, and profitability of cloud mining services. The platform has the best ROI out of the investigated companies, including Minergate, Hashing24, Hashnest, and Nicehash. The P2P platforms obviously have a more competitive environment for you to use than B2C marketplaces.

Good reputation thus comes as no surprise at all. Security is average though, meaning that you should be careful with your balance. You should look to withdraw coins out as soon as you have a considerable amount.

The post Mining Rig Rentals Review appeared first on Cryptocoinzone.

Source: https://www.cryptocoinzone.com/cloud-mining/mining-rig-rentals-review/

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Bitcoin Derivatives Firm ErisX Adds Cash-Settled Contracts After Physically-Settled Futures Fall Flat

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Cryptocurrency derivatives platform ErisX launched cash-settled bounded futures on Tuesday, after seeing little interest from the market for its physically-settled futures

ErisX CEO Thomas Chippas said the company had released physically-settled futures thinking that traders would be interested in trading spot bitcoin with the protection of a futures exchange and a futures clearinghouse. Cash-settled contracts don’t require the delivery of bitcoin like physically-settled contracts, allowing investors who can’t touch bitcoin to still profit off of it.

Physically-settled futures won’t become more popular until the exchange can offer physically-traded futures on margin, Chippas said. ErisX is working with the U.S. Commodity Futures Trading Commission (CFTC) to allow the exchange to offer margin in the future.

In the meantime, the exchange is launching cash-settled bounded futures, which provide upper and lower bounds on gains and losses, protecting investors from large price movements 

Last month, ErisX got CFTC approval to offer additional trading services.

Source: https://www.coindesk.com/bitcoin-derivatives-firm-erisx-adds-cash-settled-futures

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Bitcoin Tuesday aims to raise $1M for good causes today

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Bitcoin Tuesday, a crypto-based charity event hosted by The Giving Block, is looking to raise at least $1 million in donations today and over the rest of the month of December. The fundraising target makes Bitcoin Tuesday one of the largest crypto-based charity events ever. 

The Giving Block has secured partnerships with over 120 nonprofits and 30 blockchain companies to spearhead the charity drive.

Some of the biggest names in crypto will participate, including:

  • Gemini
  • Ledger
  • Blockfolio
  • Maker
  • Celsius Network
  • Flexa
  • 0x

Along with many other blockchain companies, they are stepping up to help charities collect Bitcoin (BTC) and other cryptocurrency donations before the holidays.

The charities accepting donations on Bitcoin Tuesday include:

  • Save The Children
  • American Cancer Society
  • WaterAid America
  • Foundation for Economic Education
  • Stack Up
  • Center for Policing Equity
  • No Kid Hungry

Bitcoiners are committed to social good, and this is one opportunity to make a practical difference beyond the choice to disrupt the financial system. It’s a chance to help Save The Children, or to promote justice before the law through the Center for Policing Equity.

Your donation could go toward Trees for the Future; fresh water in Uganda; providing meals for senior citizens, or finding homes for pets in rural America. There are over 100 charities participating, any of which will be grateful for your support.

The Giving Block tells Cointelegraph that Bitcoin Tuesday 2020 will see “1,000% growth in nonprofits accepting cryptocurrency donations.”

According to The Giving Block:

“All our charities accept more than just Bitcoin. Bitcoin is front and center, but you can donate every crypto currently supported on Gemini.”

They also believe that nonprofits themselves can aid crypto adoption by offering users the opportunity to donate via digital assets:

“Nonprofits adding crypto as an option across their website and platforms, calling for crypto gifts in their communications, posting about crypto on social media. This drives their mainstream audiences into the crypto scene which is invaluable.”

Cointelegraph is also participating in the event, and is working with The Giving Block to produce a charity Crypto Trivia quiz featuring top personalities in the blockchain space, to be held on Thursday Dec 10.

You can donate crypto to your favorite charity by visiting The Giving Block website. Select the organization you would like to support and pledge your crypto now for a good cause.

Source: https://cointelegraph.com/news/bitcoin-tuesday-aims-to-raise-1m-for-good-causes-today

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World’s first tradable carbon token launched by Universal Protocol alliance

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The Universal Protocol Alliance [UPA] which included prominent blockchain companies like Bittrex Global, Ledger, CertiK, InfiniGold, and Uphold launched the Universal Carbon [UPCO2] on a public blockchain. It can be bought and held as an investment, or burnt to offset an individual’s carbon footprint.

According to the press release shared with AMBCrypto:

“… the UPCO2 Token is set to democratize an important new asset class, which could lead to the establishment of a global clearing price for carbon (as today exists for such commodities as oil and gold) and more resources going directly into environmental projects.”

One UPCO2 token represented a verified project in the rainforest reducing its carbon dioxide emissions by one metric ton annually. The alliance provided a digital certificate issued by Verra, an international standards agency, which allows certified projects to turn their greenhouse gas (GHG) reductions into tradable carbon credits.

The Chairman of the UP Alliance, Matthew Le Merle noted:

“The projects we support through carbon credit purchases prevent deforestation in the Amazon, Congo Basin and Indonesia as well as other threatened rainforests. For a new generation of investors looking for more than mere financial return, UPCO2 offers attractive social, economic and environmental benefits. At a key moment for climate change, UPCO2 allows people worldwide to do good for the planet and potentially do well for themselves.”

The voluntary carbon credits backing these carbon tokens should eventually fetch the same price anywhere, as per the Chairman. The logic behind this was that they represent, a metric ton of carbon per year, which is measured the same for any company seeking to offset its carbon footprint. The dollar-denominated, globally-recognized, fungible, and perennial assets should maintain their option value until consumption.

The chairman further concluded:

“Combine a digital asset with a rainforest carbon offset and give everyone in the world access. How could that not be a great idea?”

Source: https://eng.ambcrypto.com/worlds-first-tradable-carbon-token-launched-by-universal-protocol-alliance

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