Hashtoro is a cloud mining company that was established in April 2018. The company is another Ponzi scheme in the industry that is looking for an opportunity to defraud innocent investors. The platform is urging all forms of investors to join them and start their mining activities immediately.
The firm only requires its client to deposit funds, and then they can start mining altcoin and Bitcoin by using their website. The company is promising users daily returns.
Hashtoro assures its customers they can cash out at any time that they wish and will encounter nothing but fast withdrawal processes. A platform is bragging that you can view their statistic at any time that you please. Unfortunately, this is not correct since we couldn’t find any financial reports.
The company also stated that they are able to offer high returns due to their use of the latest algorithms. The platform also claims that its primary concern is customer security. Hence they have put up various measures that will protect you. The main feature of this cloud mining company is a limited supply.
Hashtoro has many negative remarks than definite highlights. The founder of the company is operating discreetly and has not left any traces that can incriminate him. The website is running at a plodding speed, which is also a drawback.
It is funny that the company has been in the market for long, yet they don’t have any feedback on the web of trust. Additionally, the setup of the platform involves countries. We would recommend that you use reputable cloud mining companies that have a good reputation and are operating as per the requirements of the government.
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Hashtoro is a cloud mining entity that allegedly wants to provide investors to be it individuals or investment companies that cannot afford to purchase the mining equipment by themselves an opportunity to join the digital currency venture.
The mining activities require substantial initial capital; hence you find that majority of investors cannot afford the amount. This is where a mining company that has acquired the necessary equipment will offer small scale investors an opportunity to enjoy returns in the cryptocurrency niche.
Hashtoro states that their data centers are in various areas in the European countries. They do not specify the location; hence we can’t verify if their allegations are true. The platform states that the reason they have not determined the exact location is due to their security purposes.
The additional company state that their hardware uses hot air and renewable energy to mine cryptocurrency. Hence, they are not required to pay a massive electricity bill. The company claim that they offer a safe and straightforward mining experience to all type of investors.
You can mine various digital assets like Bitcoin, Dash, Ethereum, or Litecoin. All you have to do is buy a mining contract from the website. The company claims that they cannot specify the amount of profit that you can earn from their system.
This is because digital currency is highly volatile, and predicting the price is difficult. Hashtoro allegedly uses multiple mining pools. The reason behind this is to be safe and avoid the consequences of downtime and distribute power. They assure investors that cloud mining will ensure they can only mine during optimal duration. For the security of their clients, it’s a requirement to use two-factor authentication to avoid being hacked.
Hashtoro has four mining contracts that are distinguished on the coins available for mining. For the Zcash cloud mining account, a deal last for one year in the payment are made in ZEC. The minimal hash-rate that you can get is 100 H/s. You can deposit a minimum of 10 Euros for a limited amount.
The Bitcoin cloud mining a service charge of 0.0180 Euros or 100GH/s. Payment is made in BTC, and you can purchase the contract for 4 euros. The Litecoin cloud mining uses Vitamin L3+ Scrypt mining hardware, and the agreement lasts for one year. The minimal hash-rate that you can get is 10 MH/s.
The ethereum cloud mining contract is their other account that gives investors minimal hash-rate of 100kH/s. They use GPU rigs hardware, and the payout is made via ETH.
Withdrawal and deposit
Investors can fund the account using various methods like Visa, MasterCard, SEPA, Montero, Ethereum, Bitcoin, and Bitcoin Cash. The company is charging a maintenance fee, which consists of electricity charges and other expenses involved in mining activities. The cost depends on the algorithm.
The withdrawal request is processed at midnight. Investors will receive their previous payment the following day. To receive you’re earning, you must include your bitcoin wallet on your profile.
The minimum amount that you can cash out varies depending on the currency that you are using. The following are the least amount that you can withdraw, not including the commission chargers 0.005 BTC, 0.1 Ethereum, and 0.5 LTC.
It takes approximately 48 hours for the payout requests to be dispersed. Once you meet the list payout amount, you can request to cash out.
Customer support and regulation
The customer support work from 9 a.m. to 5 p.m. daily. To contact them, you will have to fill-up the form available on their website. It brings up the question of what kind of an investment company that will not make any effort to provide a telephone number to its customers.
They have left behind their email address; [email protected], and you can also reach them on their telegram @hashtoro.com. The company is allegedly located at suite 1111 85, Great Portland Street, London, first floor, UK, W1W 7LT.
We highly doubt that this is their actual location because, for them to be based in the United Kingdom, they should have a licensing document from FCA. Unfortunately, when we checked on the database of this financial watchdog, we were not surprised when Hashtoro did not appear on their list.
Avoid them at all costs because if they were a serious company, then acquiring a license would not be very hard for them. Legit and famous mining platforms will obtain a regulatory certificate to show the public they are transparent and money is safe.
Hashtoro is a company that claims to be using renewable energy as well as hot air to power its mining activities. The company views itself as one of the entities that are mining using ecological methods. They are promising uses a mining venture that does not require them to purchase mining equipment.
The company only has few drawbacks like lack of regulatory document. We have to commend them for not promising uses of vast returns. The platform does not disclose the amount that users can gain by mining on their website. They also failed to disclose their cloud mining location with claims of their privacy.
The platform is not very reputable in the market, which raises some questions. We are not very sure about their services since this is a renowned entity. Hence, it will be best if you mine cryptocurrency using renowned companies. Considering the firm has not also mentioned anything like the bank account that they segregate uses funds in, it is also another red flag.