Getting into cloud mining is quite a simple task, as you will see in this Eobot review. The platform in question offers the service by providing daily payouts, which we investigate in-depth. Here, you can find Eobot company information, available cryptocurrencies, details on how to go through account registration & verification, as well as cloud mining plans and fees.
Lastly, we provide a profit analysis under three different scenarios – stable, bear, and bull market trends. Thus, our readers get an accurate description of the platform, comparable with its main competitors.
ACTIVE CRYPTO PLANS
ROI (Bear trend)
ROI (Bull trend)
1.5 TH/s – 1,000 TH/s
Credit Cards, BTC, LTC, DASH, DOGE, ZEC, ETH, BCH
1 GH/s – 100 TH/s
1 GH/s – 1,000 TH/s
Eobot Company Information
Looking for the Eobot company information, it is easy to see why it lasted for a long time. Namely, its operations started out in 2013 as a trade/exchange website for crypto investors. Even now, you can deposit and withdraw several cryptos, including BTC, ETH, LTC, BCH, and 18 more.
Additionally, it is based in the U.S., meaning that its services are globally available, N. America included. Cloud mining came out a few years later, in 2017, quickly becoming one of the popular choices for crypto investors.
Eobot Available Cryptocurrencies
There are quite a few Eobot available cryptocurrencies that you can get at the moment. However, the only bitcoin is available for cloud mining. However, while mining BTC, you can exchange it with any other crypto, on spot. Thus, in a way, you can mine ETH for example – just not directly.
Here are some of the cryptos (apart from BTC) that you can deposit, withdraw, and exchange within Eobot platform:
- 13 more
Eobot Bitcoins Contracts, Plans, and Fees
Eobot Bitcoin contracts, plans, and fees can be seen as a bit complex for beginners. Namely, depending on what mining equipment your plan relies on, the fee and reward structure differ. Currently, there are two active contracts that investors can get into. Two main ( and active) contracts are:
- GHS 5.0 (SHA-256)
- GHS 6.0 (SHA-256)
GHS 5.0 Cloud Mining Plan
We start off with GHS 5.0 cloud mining plan, one we use for the profitability calculator in this guide. The contract offers much smaller up-front payment while keeping fees at the $0.00011 per GH/S, per day. The minimum amount of power that you can borrow from Eobot under this category is 1 GHs while the maximum is 100 TH/s.
In a sense, you pay more fees in this one but at the lower initial price. Thus, it is good for those investors that wish to get into cloud mining for a shorter time period.
GHS 6.0 Cloud Mining Plan
GHS 6.0 cloud mining plan is for those that plan to be in the game for a while. It is twice as expensive as GHS 5.0 but takes smaller maintenance fees, standing at $0.00009 per GHS, per day. Thus, if you wish to try out Eobot for a limited amount of time, this plan is not for you.
There is no limitation on the contract length for either plan. However, GHS 6.0 is best used if you plan to receive payouts for a considerable time.
Currently, Eobot payouts occur on a daily basis. Also, Eobot pays BTC only to its cloud miners. At the same time, the platform is an online crypto exchange as well. Thus, if you wish to gain daily access to other cryptos, such as ETH or LTC, you only need to swap them with BTC payouts.
The payout amount changes regularly, depending on the overall BTC mining difficulty and network supply. However, you can keep the coins within the Eobot wallet and wait for the price surge. This is especially useful if the market is experiencing a bear trend at the moment.
Eobot Profit Calculator
Much like with our other cloud mining reviews, Eobot profit calculator takes factors within three scenarios. The first is a somewhat stable market, where price changes are small. Second is a bear market, with the price dropping down over a year. Lastly, we analyze the period where dreams come true – the bull market.
As for the calculator itself, check out our Genesis Mining review. There, you will find the information on how we go about the calculator, what do we use, and how. Below, you can find the specifications used in this calculation.
Hash Power (TH/s)
Cloud Mining while in Stable Market
If we are talking about cloud mining while in a stable market, then Eobot does have something to offer. Well, sort of, since the ROI on a $1,000 contract is 2.3 years. With ups and downs, the platform’s maintenance fees take the front seat. The GHS 5.0 contract is less expensive than GHS 6.0 and such is more profitable.
It is clearly visible in the table and graph below that price surges are really crucial for a shorter ROI. 2.3 years to get your money back from the initial investment can be a long time to wait.
Compared to the top cloud mining platforms, Eobot comes off as an expensive alternative. This is mainly due to the maintenance fees and an expensive up-front contract price. With the ROI low, if we add rising mining difficulty, the profitability rate would drop even further. In this scenario, keeping coins until a bull run occurs would be the best course of action.
Cloud Mining while in Bear Market
Cloud mining while in a bear market at Eobot, although profitable, is not exactly a fun trip to take. With ROI 3.7 years, it is clearly not the best idea to put your money for such a long time if price drops occur regularly. However, maintenance fees, although high, are not that expensive that would render your investment profitless. Bellow table and graph attest to that.
The point on which contracts would hit the breakeven point stands at $5,585. That would be a 35% drop during a year, which is possible but not likely. Such a drop usually lasts for a short amount of time, with BTC value picking up later on. Thus, holding your coins while the bear market lasts would be a good idea.
Cloud Mining while in Bull Market
Nothing sounds better than cloud mining while in a bull market. With each passing day, your previous earnings get more and more value. With the uptrend closing in, Eobot’s ROI stands at 1.7 years or 19 months. Taking into account that most platforms provide two-year plans, this is adequate compensation, as seen from the table and graph below.
In our calculation, the overall value of BTC grew from 8,600 to $10,800 (26%). We all saw in 2019 that such movement is possible, though it could occur much quicker than a year.
Putting up an overall analysis of the Eobot cloud mining plans, we can say that the platform could do with a bit cheaper maintenance fees.
Are contracts profitable? Yes, they are. Can you earn a decent amount through Eobot? Now, that is a different thing. Although everything depends on the market trends, the ROI of almost 3 years to earn back the initial plan purchase is quite a long period, especially if bears make their move.
Pros and Cons
Taking into account profit margins and other benefits, here are pros and cons of purchasing Eobot cloud mining contracts:
- Instant exchange services for 17 cryptos other than BTC
- No contract length limitations or fixed amount of months
- Very Flexible hash power plans
- Somewhat high exchange fees (5%)
- Fiats not allowed as purchase and exchange method
Conclusion - Is Eobot Legit?
Is Eobot legit? In conclusion, yes, it is. However, the ROI you can get out of it relies very heavily on bull runs within the crypto market. Thus, Bitcoin cloud mining contracts come off as slightly expensive, with ROI spanning between 1.7 and 3.7 years. Yet again, you do get the money back during price surges, mostly under two year period.