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Minergate.com Review :Is a legit Bitcoin Mining Site? Read Our 2018 Review

About Minergate.com

MinerGate.com is a popular online crypto mining vendor, which boasts more than a million of active clients.It is the first pool which provides service for merged mining. This means that while mining on our pool you can mine different coins simultaneously without decrease of hashrate for major coin.This platform was created by a group of enthusiasts. And, actually, not surprisingly, those cryptocurrency aficionados have started with bitcoin mining. But very soon they expanded the pool for multiple altcoins: Zcash, Ethereum and Ethereum Classic, Bitcoin, Litecoin, Bytecoin, Monero, Fantomcoin, Quazarcoin, Digital Note, Moneta Verde, Dashcoin, Aeon coin and Infinium-8, which in total makes 14. And after that, they introduced the option of simultaneous mining of different coins without the reduction in hashrate.

How to start earning via MinerGate

Before you get started with the cloud mining, it would be wise to calculate the profit from mining and decide upon the best suiting option for you. Once you are done, follow these steps:

  • MinerGate is pretty simple to use. All you have to do is open an account on MinerGate website.
  • After opening your account, click on the Download option on the top of the website, and choose your miner. I recommend choosing a GUI miner, as they are the most user friendly to operate.
  • Download and also Install the miner. Once you have installed the miner, open it and use the credentials for your recently created account.
  • Inside the software, you can use the Smart Miner, that calculates the optimum currency for you to mine in terms of price or click on Miner. On the Miner option, you will see the currencies available to mine on MinerGate, click on Play, and it will start mining.
  • After you have mined your cryptocurrencies, you can open their web dashboard, and send your coins to your preferred wallets.

Minergate.com Services Provided

The main function of Minergate is the multi-cryptocurrency mining pool. With their software, miners can join their pool and choose from the various altcoins or let the system choose for them.  Due to the automine function that they call as smart mining contract, it is possible to automatically mine the most profitable coins from the hashpower purchased or owned. In order to use the service, Minergate charges 1%-1.5% pool fees. Payouts are based on PPS or PPLNS methods that is deducted from the daily earnings.

Minergate.com Contracts And Rates

MineProfit RatioReturn Per YearAnnual Return %
Bitcoin169%$3,05797%
HashrateDaily returnMonthly returnPayback period
15,000 GH/s$8.38$251.29373 days
Contract lengthProfit rationAnnual returnAnnual return %
Lifetime$4.95$58$ 0.00001964

How To Create  First Contract?

Just choose cryptocurrency and a plan suitable for you by moving the slider, click ‘buy’ and send the required amount to the generated BTC, ETH and XMR addresses. Mining for your contract will start the next day and first payout will be credited after a full day of mining. Maintenance costs for electricity and equipment will be withheld from daily rewards basing on the USD rate for a specific day.Minergate only allows bitcoin as payment method, there is no option to pay by credit card or wire transfer for the hashpower.The minimum purchase amount for bitcoin cloud mining is 20GH/s. The contract is not starting if the payment on the provided bitcoin account is below the price. Also, the maintenance fee is deducted from the account daily and if there is not enough funds on the account for 3  consecutive days the mining contract is cancelled. The earnings are starting 24 hours after the contract has started.

Users receive the earnings from cloud mining as soon as the block is found and added to the blockchain, the payouts are happening daily. In order to increase security, Minergate uses email confirmation for all transactions, including payouts and purchases.

MinerGate Fees

Clients are able to purchase bitcoin cloud mining services starting from 20 GH/s. This minimum purchase is much higher compared to other cloud hashing companies, which usually offers cloud mining from 1 GH/s. At Minergate, clients can buy cloud mining contracts up to 1 million GH/s. Considering the size of the biggest contract, probably in that case the full capacity of Hashing24 miners are purchased all at once.

MinerGate charges a 1.5% fee for PPS (Pay per Share) payments and a 1% fee for PPLNS (Pay per N Shares) payments.

The MinerGate pool fees are as follows:

Currency            PPS payment         PPLNS payment
Zcash                             –                            1 %
Bitcoin Gold                 –                            1 %
Ethereum                      –                            1 %
Ethereum Classic         –                            1 %
Litecoin                      1.5 %                      1 %
Bytecoin                     1.5 %                      1 %
Monero                      1.5 %                      1 %
FantomCoin               .5 %                        1 %
QuazarCoin               1.5 %                      1 %
DigitalNote                1.5 %                      1 %
MonetaVerde            1.5 %                      1 %
Dashcoin                    1.5 %                      1 %
Aeon coin                   1.5 %                      1 %
Infinium-8                  1.5 %                      1 %

Minergate’s Main Features

Minergate Offer Several Features . Some Of Popular Features Are Below

  • Merged Mining: You can opt to mine for two currencies simultaneously without even downgrading the hashrate of your primary currency.
  • Smart mining – MinerGate uses a smart algorithm to find the most lucrative cryptocoin to mine. The algorithm switches between cryptocoins to find you the most profitable cryptocoin to mine. But, if you don’t want to use this feature, you can simply turn it off.
  • Multi-pool – you can choose from over 8 different cryptocurrencies to mine.
  • Hardware Intensity: You can opt to mine either with your GPU or CPU or even both. You also have the liberty of choosing the number of cores that you wish to use, which helps you to effectively balance the heat as well as electricity produced by the hardware. Thus, your system can experience a longer lifespan.
  • Multi-Coin – The users can mine with fourteen different Cryptocurrencies such as Bitcoin, Ethereum, Ethereum Classic, Zcash, Litecoin, ByteCoin, Monero, FantomCoin, QuazarCoin, DigitalNote, MonetaVerde, FashCoin, Aeon coin and Infinium-8. They can moreover mine multiple Crypto Coins at the same time without losing their hash power.
  • Reward System – Minergate also rewards their clients if they are able to complete certain tasks. As awards, Minergate offers their users badges. These badges provides them the chance to receive exclusive facilities.
  • Affiliate program – Also, the miners can earn money following their pyramid scheme. By introducing more enthusiasts into the pool, users can earn maximum 75% profits. If you can bring more than thirty referrals, you will receive from 30% to 75% of the profits.
  • Web-mining – you don’t necessarily need to download the GUI miner console to mine coins. MinerGate enables you to use your internet to mine cryptocurrencies directly on its site.

Disadvantages

Low Value Altcoins: Apart from Bitcoin and other important Alt coins (ZCash, Ethereum, etc), there are many Alt coins with very low value on Minergate.

Minimum Withdrawal: Most digital currencies have a minimum value to be able to be withdrawn. However this minimum is very low, and easy to reach.

Mining Rig: That is not really an issue with MinerGate, but, you will need a pretty powerful CPU and / or GPUs to make this operation profitable.

Overall Conclusion

Minergate is a multi currency mining pool that recently started to provide cloud mining services for bitcoin. Even though their main activity is not cloud mining, the FAQ section perfectly describes the process how to buy contracts and what are the conditions in a plain, transparent language. The pricing is very straight forward, although the minimum purchase threshold of 20 GH/s means first time users have to commit themselves in order to try the service. Overall Minergate would be a very promising cloud miner on the market, however the lack of information on the company should warns users whether the cloud miner is operating legitimately.

Visit Minergate Website

This article is writing on 21 June 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- +13098896258

Disclaimer:

Not all the websites Which listed in Top List are 100% safe to use or investment. We do not promote any of those. Due diligence is your own responsibility. You should never make an investment in an online program with money you aren’t prepared to lose. Make sure to research the website. So Please take care of your investments. and be on the safe site and avoid much losing online.

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