If you are a crypto starter and wish to get into cloud mining, reading our ViaBTC would be a good start. Rare are the cases in which companies made a comeback after a heavy governmental crackdown. Thus, we uncover how the Chinese company rose from the bottom to regain its rightful place within the crypto sphere.

We investigate its company information, available plans, cryptos, and fees. Also, we touch upon the Chinese stance on digital coins and how did ViaBTC managed to bypass them. Lastly, we provide a Bitcoin calculator, investigating how profitable would it be to invest in one of its contracts.

 

 

 

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

ViaBTC

BTC

1 GH/s – 1,000 TH/s

BTC

2.7 years

1.2 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

ViaBTC Company Information

ViaBTC company information is one of those classic stories that many crypto businesses share. It starts with CEO Haipo Yang, sitting in front of the computer and coding the pool endlessly. Through hard work, Yang managed to create the system and launched a fundraiser in 2016, effectively starting the company. Gradually, ViaBTC grew to be one of the largest crypto companies in the world. It was holding a significant percentage of Bitcoin mining pools.

Within the last three years, ViaBTC added more and more crypto pools for different coins, expanding from being BTC-oriented only. Now, they are boasting of 1+ million users and 130 countries served.

China Crypto Breakdown

By mid-2017, it was evident that China’s crypto breakdown is slowly gaining momentum. Government officials did not like the fact that they had no control over the online financial markets. Thus, they started out with official and even unofficial bans on crypto operations. There were even news leaks regarding many Chinese crypto businesses thinking to leave the country, ViaBTC included. 

The company had few choices – either try to achieve full compliance with authorities or leave Mainland China. Thus, the firm’s management decided to keep mining services but close the exchange platform completely. As such, it satisfied new crypto policies and remained operational until this day. They even performed an ICO in 2018 to increase their mining pool capacities.

ViaBTC Available Cryptocurrencies

At the time of our review (and before that as well), only BTC is part of the ViaBTC available cryptocurrencies portfolio. Well, for cloud mining that is. You can mine other cryptos, like ETH or LTC but only through a pool with enhanced mining gear. For cloud miners, you have a set of plans available for purchase, paid through bitcoins to get BTC payouts.

ViaBTC Plans and Fees

ViaBTC plans and fees are quite similar to its main competitor, Genesis Mining’s ones. You have three main plans that tackle different investment levels. You have a cheap BTC deal, then medium-size contract for those that wish to get in cautiously and limit potential losses. There is also a large plan available for those that wish to earn bigger payouts by investing more. 

Additionally, you have a customizable plan, where you decide on the hash power, based on what are your financial capabilities. The hash power ranges from 1TH/s to 10,000TH/s, for a price of $21.20. The higher power you take, the lower price per TH/s will it be. It is also one of the cheapest options right now in the market, as you will see in our profit calculators.

On the side of maintenance fees, this is where ViaBTC really stands out. You pay $0.0794 per TH/s, per one day. It is quite a good deal, leaving much space for miners to take advantage of the plans and earn profits. As a comparison, Genesis Mining charges $0.15 for 1 TH/s, per day, which is almost double more.

ViaBTC Payouts

After purchasing the plan, ViaBTC payouts system kicks in within an hour. After that, it is smooth sailing every day for a year (the contract length is 360days). Payouts occur at 00:00 UTC time each day and fluctuate according to the mining difficulty. Additionally, the amount of BTCs you get corresponds to the hash power you purchased.

ViaBTC Profit Calculator

We divided the ViaBTC profit calculator into three different scenarios to get accurate data. As such, we try to imitate real market movements by changing the BTC price on a monthly basis. However, we do need to stress that mining difficulty is kept constant for simplicity, as its rate changes frequently in both directions. For information on how do we create a cloud mining profit calculator, visit our Genesis Review.

Below, you can find factors that are important for the ViaBTC profit calculator, from BTC price to maintenance fees.

BTC Price

$8,600 

Plan Cost

$1,222.20 

Hash Power (TH/s)

50

Maintenance Fees

119.1

Monthly Payout

0.021

Cloud Mining while in Stable Market

ViaBTC might have a problem if its users engage in cloud mining plans during a stable market. With small price fluctuations, it becomes clear that maintenance fees and prices of the plans do not match the contract length. Namely, you pay for a plan that lasts a year only. Thus, even though costs are significantly lower than some other cloud mining platforms, ROI of 1.7 years is not encouraging.

Below figures show the trend and how did we reach the 17 years of ROI.

 

Months

01

02

03

04

05

06

07

08

09

10

11

12

TOT

Profit

$61.50 

$70.53 

$61.50 

$52.47 

$61.50 

$70.53 

$61.50 

$52.47 

$61.50 

$70.53 

$61.50 

$52.47 

$738.00 

            

ROI

1.7

Profit chart - ViaBTC Review

Since we are using 50 TH/s, choosing a bigger plan might lend you a better ROI. As mentioned before, ViaBTC applies smaller contract costs for larger hash power. However, the BTC market changes very fast and a lot can change within a period of one year.

Cloud Mining while in Bear Market

ViaBTC contracts have even bigger problems if users purchase cloud mining plans while in a bear market. The price decrease of 35% over the course of a year can really impact your profits. Based on data, we estimate an ROI of 2.7 years, a period much longer than what contract length is. 

The difference between these two means that you will incur a loss by the end of the program and not a subtle one either (-$760). You can check out results in the below figures for more information.

 

Months

01

02

03

04

05

06

07

08

09

10

11

12

TOT

Profit

$61.50 

$57.30 

$53.10 

$48.90 

$44.70 

$40.50 

$36.30 

$32.10 

$27.90 

$23.70 

$19.50 

$15.30 

$460.80 

            

ROI

2.7

How to remedy the situation if you ever find yourself getting payouts while in the bear run? Keep BTC in your wallet and wait for a better climate when Bitcoin’s price surges back up. ViaBTC is a long-term investment, meaning that you do not need to sell everything you own on the same day.

Cloud Mining while in Bull Market

Even in the best-case scenario, which is cloud mining while in a bull market, ViaBTC could do with better contract organization. If the price surge over the course of the year results in a 25% price increase, you are still down for 2 months. ROI of 1.2 years is still over the contract length, which is 1 year only. Check out how stable price increase affects monthly profits in figures below for more detailed info.

 

Months

01

02

03

04

05

06

07

08

09

10

11

12

TOT

Profit

$61.50 

$65.70 

$69.90 

$74.10 

$78.30 

$82.50 

$86.70 

$90.90 

$95.10 

$99.30 

$103.50 

$107.70 

$1,015.20 

            

ROI

1.2

Profit chart with Bull Market - ViaBTC Review

Cloud mining investors should implement the same strategy seen in bear runs. Hold coins in your wallet and sell them off at peaks of the bull run. These do not last long but price increases can go even further than 25%. Thus, to maximize profits and yield a much better ROI, a trading strategy is necessary.

Overall Analysis

Our overall analysis shows that a period of 1 year as a contract length for ViaBTC is too short of a time to make adequate profits. Thus, we strongly recommend users to hold their payouts, design a price level at which they can make profits and sell coins only at that threshold.

We also need to take into account rising and falling mining difficulty. If it is on the rise (mostly it is), then ROI would be even worse. If it falls down, you get bigger daily payouts. Nevertheless, holding coins and selling them at favorable rates is the way to make the desired profit out of ViaBTC plans.

Pros and Cons

Taking into account our previous findings, here are pros and cons of ViaBTC cloud mining to look after.

ViaBTC Pros

  • Cheaper maintenance fees than most competitors
  • Customizable cloud mining plans

ViaBTC Cons

  • Plan lengths only one year, too short for adequate ROI
  • Only BTC available for cloud mining

Conclusion - Is ViaBTC Legit?

There is no doubt that ViaBTC is a legit company to purchase cloud mining contracts from. However, its contracts are really tight in timing and one year is not enough to make an adequate profit. Even when bull runs occur, ROI is simply too low. Thus, keeping coins and selling them at price peaks would be the best strategy to get your money’s worth back.

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