Is ViaBTC.com a scam or paying? You can take the following review as a reference to help you make a decision.
ViaBTC.com is offering everyone an easy way to own bitcoins by participating in its cloud mining operations. The company promises good returns which are likely to survive the test of times as a result of its very large bitcoin mining pool which is currently the fifth largest in the world.
Viabtc.com Summary ViaBTC.com is offering everyone an easy way to own bitcoins by participating in its cloud mining operations. The company promises good returns which are likely to survive the test of times as a result of its very large bitcoin mining pool which is currently the fifth largest in the world.
ViaBTC.com has started using the pool since June 2016 with Antminer S9, which is the most powerful mining rig that can ensure continuity in the business. ViaBTC can boast of over 16400 active workers who have helped in mining more than 22256 BTC since its establishment.
Viabtc.com is quite easy to use. The website opens well on big and small screen computers including laptops and cell phones. There is a drop-down menu at the top of the page that shows the FAQ, sign up and sign in links for those who have already registered.
The website has a pool hash rate chart for depositors to see how much they can make by comparing current prices with previous ones. The phone number and email address are there to serve as contact details for anybody who needs clarification in some aspects.
1. Purchase unit: 1 TH/s per SHARE. The Batch 1 S9 hashrates will be divided into 2,400 SHARES;
2. Power consumption & electricity cost: 100 Watt per SHARE; 0.84 CNY per day per SHARE (0.35 CNY/KWH);
3. Manage fees: 6% of the mining income will be charged as manage fees, which cover the costs for mining farm maintenance, deployment, repairs, staff expenses, emergencies, risk prevention etc.;
4. Mining income: The miners will mine in ViaBTC pool which adopts a PPS+ method. The mining income will be the theoretical PPS+ yields which won’t be affected by the operational conditions of miners.
5. Settlement: The mining income, deducted by manage fees and electricity costs will be the actual yields. The daily electricity cost will be calculated against the CNY/Bitcoin rate from China’s mainstream exchanges. The daily income will be settled at 8:00 AM Beijing Time (GMT+8) the next day;
6. Redemption of miners: To guarantee efficiency, all miners will run in high-standard facilities and in ViaBTC pool. Redemption of miners and change of mining pool are not available for the contract.
7. Termination of contract: The contract will be terminated automatically when there’s zero actual yields for 10 consecutive days. ViaBTC will redeem all contracts priced with the remaining value of the miners at the time. All miners will be owned by ViaBTC.
ViaBTC has always maintained an uptime greater than 99.9% since its establishment. This has made payments for profit to be prompt. Besides, the site is safe and stable to avoid penetration by other individuals or companies that may be hackers.
Hashrate of pools is instantly shown and can be checked by anyone. This is a measure taken by ViaBTC to promote transparency and give users a chance to monitor and calculate earnings.
Fees are charged at ViaBTC but the amount charged is very small. The fee is meant to help the program last long as ViaBTC collects them and give to the miners who work hard to generate the profits. Low fees are applied to blocks on the PPS (Pay Per Share) and PPLNS (Pay Per Last “n” Share). The fees are only 6% of the earnings on the shares.
Profits are distributed to miners the following day at 0:00 AM Beijing Time, which corresponds to GMT +8. The profits are calculated after costs for electricity and maintenance have been deducted. Users can see their daily yields at their home page after logging into their accounts. Sometimes, daily profits can be around 0.00098611 BTC per share.
Low Price VS High Mining Power
The lowest unit one can buy on ViaBTC is 1 TH/s per share at the rate of 0.21 BTC per share. This can be purchased by sending bitcoins to the wallet given in the contract from the company. After purchasing a share, ViaBTC verifies the payment and profits start accruing before 24 hours after payment.
Upcoming Exchange Platform
Users of ViaBTC will also be able to participate in bitcoin trading by the time the platform is developed. This will help them gain more profits especially if they are good at it.
Yields & Risks:
1. About Antminer S9: S9 is currently the most advanced and power-efficient mining rig which guarantees the longest life cycle for a miner. Visit Antminer’s site for more details;
2. Income calculation: ViaBTC users can check at “Home” to find out the expected daily yields for 1 SHARE which is now around 0.00098611 BTC;
3. Warnings: Price fluctuation is frequent for Bitcoin and the mining difficulty will be adjusted every other week. Price drop and increase of difficulty will lead to a drop of mining income per SHARE. ViaBTC won’t promise a 100% ROI whether in Bitcoin or fiat money terms. Please evaluate the risks you can handle before investing in Bitcoin mining.
Users are free to send emails any time. In addition, ViaBTC has a twitter account where people can learn more about them and also get in touch with the administrative department.