Answers to frequently asked questions

What is Cloudymining?

Cloudymining is a cloud-based service, which is a convenient and simple way to gain access to equipment for the production of crypto-currency. You will not have problems with configuring software and hardware because Cloudymining is created to allow newbies to gain access to mining along with experienced miners. We cooperate with leaders of the crypto industry and have access to the latest advanced technologies, which makes us one of the world’s leading cloud services.

As a Cloudymining customer, you can enjoy many benefits, including:

  • Access to data centers of the world-class network with a hash of more than 200 Ph/s;
  • Instant access to the extracted crypto currency;
  • Automatic crediting of the crypto currency to your account.

Where are your mining farms located?

For the sake of safety, we do not specify the exact location of our mining farms. For more than two years we have several mining farms in Europe and Asia. For the uninterrupted operation of our farms, the availability of electricity and cooling, as well as many other factors, are of great importance. For more information, please see the Data Centers section.http://cloudymining.com/data-tsentry/ .

Is it not cheaper to buy own equipment for mining?

It may seem that indeed, the purchase will cost less than cloud-based mining. However, you must take into account all the “hidden” costs associated with the purchase, configuration and maintenance of equipment, which significantly affects the economic effect.

7 factors proving the benefit of using cloud mining:

  1. Cost of delivery: many sales companies cover the cost of delivery of equipment, charging you an additional fee.
  2. Customs costs, as well as value added tax: if your equipment is sent as international delivery, in this case you will need to pay VAT and customs costs, which will greatly increase the cost of equipment.
  3. The delivery time of the equipment: after placing an order, it usually takes at least a month before you receive your purchase, and this in the event that it lingers at customs. You will lose a lot of precious time, and the bitcoin rate is growing, practically, every day. With Cloudymining, you have a great opportunity to pay the contract and get your mining power almost without delay.
  4. Expenses for the purchase of additional equipment: when you order equipment from large retailers, it is often necessary to purchase additional power supplies, electronic control units, as well as shelves and other materials for placing miners.
  5. Setting up the system: after receiving the equipment, you need to build and configure the software yourself. Many often underestimate the necessary amount of knowledge and technical skills required to run the system and configure its parameters. As experience shows, people spend weeks on this process, and in the end, downtime of mining in cash equivalent translates into a significant amount.
  6. Service: in any case, the equipment can not work almost uninterruptedly at home. There are unplanned power outages and voltage surges, which can lead to more serious breakdowns. As a result, downtime can last as long as a few seconds, or up to a week. If the equipment still fails, you will need to pay for the services of a specialist in diagnostics and repair, and, if necessary, replace certain elements. With Cloudymining, you are guaranteed to get 100% uptime: in case of failure of one of the hardware elements, switching is immediately carried out, and the mining continues unabated.
  7. Electricity: placing equipment in your home, you will experience daily discomfort from the increased noise level and significant heat dissipation. Accounts for electricity payments will also increase substantially, as the process of mining proceeds around the clock.

Comparing all of the above costs with investments in cloud mining, you can understand that our offer is optimal, both for beginners and for experienced investors.

How can I contact you if I need help?

Customer interests are a priority for Cloudymining. If you have any questions, please contact us at: [email protected] anytime.

What does the guarantee of 100% uptime mean?

If you are an individual miner, there is always the possibility that your mining equipment will start failing, slowing down or completely out of order. Using the Cloudymining service, you will never run into such problems, because we automatically redirect our customers to alternative pools, in order to compensate for power loss.

How does the bitmicon mining work on the Cloudymining platform?

It’s easy and simple! As soon as we receive your payment, your contract will be added to your profile, and you can immediately begin to mine. Depending on the terms of your contract, you can directly kill Bitcoin, Ethereum, Dash, Litecoin, Monero, Zcash. You can also exchange your payments to another crypto currency and even choose a specific distribution for them. The first payment falls into the wallets of our customers after 48 hours, after which daily payments are made.

Note: Each day of mining will be processed and paid within the next 24 hours after the day of completion of the mining.

Please refer to “When will I receive payment?” For more details.”

How often will I receive my payment?

Payments are formed daily, but you can receive them after accumulating a certain amount. The limit on payments is limited in order to protect our customers from excessive fees for receiving small payments to their wallets.

How is the payment made?

Basically, mining starts from 03:00 UTC to 02:59:59 UTC. If you have made a contract during the day, the start time of the mining will be from the time the contract comes into force, respectively. In other cases, the miners will mine for you 24 hours a day and act in strict accordance with your settings (see “Power Distribution”).

After 24 hours of mining we will make additional calculations. After about 8 hours (max 24 hours) you will receive payments for each coin you have obtained. Be sure to verify that you have indicated purses for payments on each coin that you are mincing, otherwise we will not be able to make a payment!
The first payment can take up to 48 hours after you have purchased the contract. If you did not receive any payments from us within 48 hours, please contact us at the address. If you are transferring funds using a debit / credit card, your payments will be withheld for 30 + 2, as specified in the Conditions of the Contract. We do this in the fight against fraud and for additional security. After the end of the month, the full amount will be transferred to your wallet, after which you will receive daily payments.
At the same time, you can see your profit in your account.

To draw a conclusion:

  • Sign in to your account;
  • Click the “Withdrawal” tab;
  • Choose the type of coins;
  • Enter the amount;
  • Select your wallet (or enter a new purse);
  • Confirm the action;
  • Check your inbox to which the email will be sent containing a confirmation link;
  • Follow this link.

Our minimum withdrawal amount is 0.002 BTC. You can make a withdrawal request at any time. Usually it is processed within 1 business day.

How can I pay the contract?

Payment of the contract can be made using a credit card Visa or Mastercard.

The minimum payment amount is 50 USD. If you pay up to 100 USD, a commission is charged.

What is a service charge?

The service fee covers all expenses related to the mining, including:

  • The cost of electricity;
  • Sotimost of the cooling system;
  • Equipment maintenance;
  • Hosting services.

Payment is made according to contracts. Detailed information about the current amount of the service fee is indicated in the contract.

How much can I earn and when will the investment pay off?

Earnings depend on many factors, such as the reward for the unit, the complexity of the process, the number of blocks found, etc., which can not be predicted, so it will be wrong if we provide you with any data on profitability. Please note that our payment is based on a common network hash, and guarantees 100% uptime.

Remember that some of our products have a daily maintenance fee that should be deducted from daily income.

Can I cancel the production contract until the end of the contract?

Contracts for production can not be canceled by the customer and can not be returned.

What coins can I use with each algorithm?

You will be able to beaten bitcoins, as well as some altocoins. As of November 2017, we provide an algorithm for the mining of the following coins:

  • Bitcoin;
  • Ethereum;
  • Dash;
  • Litecoin;
  • Monero;
  • Zcash.

Over time, we will add new crypto-currencies to this list.

By default, all power is allocated to Bitcoin mining, and therefore you will receive payments to BTC if you do not change your distribution.

What pools do you use for mining?

We do not publish a list of pools that we use. There are the most important criteria for a quality pool: reliability, the number of re-drafts and an adequate justified commission.

We use at least two different pools (and in some cases up to four) for each crypto currency. This approach allows you to keep the decentralization of the network! If the pool approaches 50% of the total network, we switch to an alternative pool.

How does Ethereum work?

When you pay an Ether mining contract, you buy a share in the GPU graphics card to extract Ethereum. The hashing algorithm used for Ether mining is called Ethash (or Dagger-Hashimoto).

To perform calculations, Ethash requires a so-called DAG file. This file grows over time, which means that more hash operations must be performed for each hash operation. This means that the effective hash decreases as the DAG file grows. This point should be taken into account when comparing your theoretical hash power, because online calculators do not take this into account.

What does the contract with the ``Open-Ended`` condition mean?

The duration of each open contract may vary and is determined by three main factors: the complexity of the mining process, the bitcoy exchange rate and the US dollar, and the maintenance fee. The first two factors can not be controlled, since this process does not depend on us, but thanks to the involvement of the most qualified and experienced specialists, we can ensure the use of the latest software and technologies necessary for the most effective mining.

In the event that the contract becomes unprofitable for you (the service fee will exceed payments), the daily payment will be zero. Under the contract, the mining will be carried out for another 60 days. In this case, we will pay a maintenance fee in anticipation for the period until your contract becomes profitable again. This will happen if the network is improved and / or the cost of bitcoins increases. If during this period the contract does not again become profitable, it will be canceled, since the resources consumed by the equipment can not be paid.

In any case, you will receive a notice on your contract.

How can I configure simultaneous mining of various crypto-currencies?

Clients of Cloudymining have the opportunity of simultaneously mining various types of crypto currency. You decide for yourself which cryptocurrency you can drop, and allocate power accordingly.

All the default power is allocated to the network for all algorithms, so you will receive all your payments to BTC. If you want to drop other crypto currency, you can also do it. In the user interface, go to “Distribution of Mining” and select the power distribution that best suits you. After that, click on “Save Distribution”

How do I add purses to my Cloudymining profile?

In the “My Account” section, select “Settings”, then “Purses”. Here you can add a purse for payments on each type of coin.

Important: Remember that you must add a purse for each coin selected in the “Capacity allocation” section.

Where can I learn more about Cloudymining?

Please visit the About Us page to learn more about our company:
https://cloudymining.com/about/