Is it advisable to use hashflare.io, or hsshnest?

Bitcoin Questions and AnswersCategory: QuestionsIs it advisable to use hashflare.io, or hsshnest?

Michael asked 6 months ago

I wanted to use one of these companies, Hashflare and hashnest,as one with zero experience in cryptos, I would like to know your personal and professional take on these companies.
Thanks,
Michael

1 Answers
Steven Hay answered 6 months ago

Hi Michael,
 
Well, you should first read out article on the state of cloudmining:
 

Cloud Mining – Profitable or an Evolution of a Scam?


 
I’m not sure about either of these two companies. The usual advice is to either use Genesis Mining, as they’ve been around a long time and are known to be honest, or to just buy the coins instead of cloudmining them.
 
Personally, I’d stay far away from HashNest. They’re part of the sprawling Bitcoin group of companies and Bitmain are pretty much the EvilCorp of Bitcoin. It’s really hard for me to recommend them, as you’re paying them would add very slightly to Bitmain’s centralisation of Bitcoin mining. Still, they probably won’t steal your money or scam you outright.
 
As for HashFlare, they look ok… Not promising anything outrageous. I have very little experience with cloud mining however, so I recommend that you do more research on them and / or seek a second opinion.

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