ViaBTC Review

With many cloud mining platforms turning out to be frauds, the legitimate plans for the cloud mining of cryptocurrencies became scarce. The only handful of companies, such as Hashflare, Genesis Mining, and ViaBTC, offer real services that can land you profit from the made investments.

Hence the review of ViaBTC in front of you, as we delve deep into the company’s investment plans, deposit methods, daily fees, and returns. We calculate the potential profit margin using current market trends, as t investigate the general attractiveness of the cloud mining plans that ViaBTC offers for its client base.

General Information about Platform


ViaBTC is one of the younger platforms in the cloud mining industry, opening its business in summer of 2016. The mining pool where investors can put their money into resembles the plans offered by Genesis Mining and Hashflare.

ViaBTC Review general information

There are three offered cryptocurrencies for mining plans, them being bitcoin, Litecoin, and DASH. The platform has the least number of plans when compared to other platforms. Another issue is the inability of the miners to invest fiat currency. The entire service is available in digital coins only, as you can deposit, withdraw and earn cryptos.

The company implements two sets of fees, one being maintenance costs and other, management fee. The first depends on the plan itself, while management fee stands at 6% of the total investment amount. Both are charged on daily basis, making the fee structure really high when compared with Hashflare and Genesis mining.

There is no length limit on the contract apart from the profit direction. Once the contract starts to be unprofitable, there is a possibility to cancel it in rode rot start a new one, with better market trends part of the deal.

The service is available globally and the only two things that you need to verify are your email address and phone number.

Bitcoin Cloud Mining


The BTC mining, also called S9, includes shares as the measurement of the investment. The plan has 6% management fee and $0.144 as electricity costs. The minimum amount of investment stands at 1 TH/s which is equivalent to $199 per share.

The payouts are made on daily basis, expressed in BTC only and there is no contract length specified at the beginning.

Litecoin Cloud Mining


Similar to Bitcoin mining program, the LTC plan, known as L3 Cloud Mining pool, implements payout on daily basis expressed in LTC coins. The management fee stands at 6% while electricity costs are 0.002304 per day. The minimum amount of investment stands at 1 MH/s which is evaluated as $5.9 per share. Contact and number of shares, much like BTC program do not have any set limitations.

DASH Cloud Mining


The last program, DASH Cloud mining (D3) offers shares at a minimum price of 1 GH/s, evaluated as $149. It is a middle ground between bitcoin and Litecoin plans while the electricity fees stand at 0.144 per day and management fee of 6% on daily basis as well. Payouts are made in DASH on daily basis as well.

Is ViaBTC Cloud Mining Profitable?


In this section of the article, we compare the three programs in terms of profitability potential. We use the coin values from CoinMarketCap as measurements of the price while the daily returns are used form ViaBTC estimations. We use $200 for BTC and LTC and $300 for DASH, as minimum payments needed to start the contract.

 

BTC

LTC

DASH

Program Cost

$200

$200

$300

Management Fee

0,15

0,09

0,07

Maintenance Fees (daily)

0,144

0,002304

0,144

 

 

 

 

Total Cost per Day (2 years)

$0,29

$0,09

$0,21

 

 

 

 

Mined Coins (per day)

0,000

0,005

0,001

 

 

 

 

Value of Coin

$16 500

$315

$1 540

Revenue Value (per day)

$2,47

$1,46

$1,12

 

 

 

 

Profit/Loss (daily)

$2,17

$1,37

$0,91

Profit/Loss (monthly)

$65,21

$41,07

$27,31

Profit/Loss (1 year)

$782

$493

$328

 

 

 

 

ROI (1 year)

391,2%

246,4%

109,2%

 

 

 

 

Payback period (days)

              92  

            146  

            330  

If coin returns are to be trusted, the ROI can range from 100% till 390%, with bitcoins being the most profitable to invest in and DASH coins being the least. The major impact on the profitability are the fees and the suggested return by using the hash power offered for each share. The profit is recorded in all three cases, though the issue remains with risks that market brings.

With higher difficulty, lower price and smaller sized mining blocks, it can be said that loss from the cloud mining investments is not far off. The system favors larger investments, as electricity fees are fixed. Thus, the higher value of coins you invest, the larger profit you can reap from the deal.

History


Joining the market as a sixth mining pool in June 2016, the ViaBTC was founded by Haiyang who was working in Tencent prior to the startup birth. The domain name was registered in 2015 and inspired by a book named Hackers and Painters written by Paul Graham. The pool rose to be one of the largest cloud mining service providers in the world, even though precious little new services were added in the meantime.

Pros and Cons


Pros

+ services available worldwide

+ no verification of identity needed

+ no contract period limitations

Cons

- although no verification is needed, you have to provide a phone number

- no fiat currency investments possible

- large management fees of 6%

- a few available plans

Payouts


Payouts, like in Genesis Mining and Hashflare, are made in cryptocurrency coins and on daily basis. The values change depending on the difficulty of the mining and global network block awards. Each coin has its own structure on how it is awarded.

Conclusion


Judging from the calculations we made, ViaBTC does offer profitable business for those interested in cloud mining. We would still warn you that the said program is based on current market trends. Increased difficulty, decreased price, and mining blocks, as well as changes in the fee structures, can negatively impact your profit potential.

Use caution, especially since you can only invest cryptocurrencies in the process. The company is relatively young, thus the inability of deposits expressed in fiat currency raises questions regarding the safety of investments in ViaBTC.

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