One of the possibilities to get Dash is by mining it. There are two main mining options:
- mining it by yourself using your hardware
- mining it by renting collective device te the cloud gegevens center also called cloud mining.
This article provides the information about the Dash cloud mining (also cloud hashing or X11 cloud mining).
Recommended Dash cloud mining providers
- HashFlare has bot involved te cryptocurrency mining since the inception of Bitcoin and has years of practice te this field. Since auguts 2016 they also suggest one year Dash mining plans with no maintenance fees and the payouts ter DASH. The ondergrens order amount is very low, so you can embark with low investment and see how it performs (1 MH/s costs a few coffees). Use discount code HF17PLUSBTC3 for a 3% discount. Buy with credit card, wire or Bitcoin.
- Genesis Mining is the largest and most trusted Bitcoin and Ethereum cloud mining provider ter the world. For Dash mining you need to buy 2-year mining project, there are no maintenance or electro-therapy fees. Payment is made upfront for the Two years and everything mined during this period will go to the contract holder. Their Dash mining facility is te Iceland. Update: back ter stock (June 30, 2017).
Wij have Dash mining contracts with both mining companies, and spil long spil they are on this list above, they pay every day and are reliable!
What is cloud mining?
If you want to invest ter Dash currency, cloud mining is an attractive option. It enables users to purchase hashing power from hardware te gegevens centers, without managing hardware, software, violet wand or other issues to mine crypto-currencies. It will save you all the trouble to run a miner on your own, and most likely bring you more prizes instead, especially if you are not a hardware pro. Dash requires miners to have a GPU or ASIC to mine the currency profitably and even if the user is ready to buy one, ASICs are often sold out, and they require a certain amount of skill and work to maintain.
Cloud mining offers a unique way for mining with a low cost of entry spil well spil minimal risk and expense, which is opposite to traditional mining models that involve maintenance and configuration of specialized hardware. You can embark mining Dash instantaneously after the purchase of mining contract. You can earn toegevoegd revenue with little risk and frequent payouts.
Dash mining algorithm
Dash uses X11 algorithm, which is a chained hashing algorithm. It is utilized for the “Proof of Work” calculations which secure the network for Dash cryptocurrency. It is named “chained algorithm” because it uses 11 different algorithms which are linked together. The use of 11 different algorithms among other things increases the security of coins against brute force attacks. A multi-hash system means that for the system to fail, all eleven hashes vereiste fail at the same time (the probability for this event to toebijten is very close to zero).
Spil it wasgoed designed specifically for cryptocurrencies, it has one of the most sophisticated cryptographic hashes te use. It is suitable for both CPU mining and GPU mining. The very first coin to implement it wasgoed Darkcoin, which has since rebranded itself to Dash.
Cloud mining profitability and ROI
Profitability of your contract depends on a few different factors, the most significant are Dash coin market price, mining difficulty and mining contract price. Ter general, you need to compare how much you pay to rent the hardware and how much coins you get te come back.
Our mining project at HashFlare has 100 MH/s mining power and gives us Five.Five US$ daily (DASH price is 290$ and there are no maintenance or tens unit fees). Presently, you pay for the same contract 580$ (withouth discounts). If the price and difficulty stay the same, you will get your investment back ter about Three months. Spil the contract lasts a year, there is a 9 month profit !
Please note that you can not predict the price and mining difficulty ter advance (the higher the Dash price, more miners will join ter mining and difficulty increases). Calculators like this will provide an information on your future revenues. Once again, they can not predict the future with 100% accuracy.
Other Dash cloud mining providers
- BitMiner – little is known to us about this cloud mining provider and the webstek is difficult to use, so please use them at your own risk. 1 MH/s of X11 cloud mining presently costs 0.0019 BTC and the contract lasts until it is profitable. Their mining farm seems to be located ter China.
- Eobot provides hardware for SHA-256 and Scrypt mining that is mostly used for Bitcoin mining. If you want to get Dash, they convert freshly generated Bitcoins into Dash automatically. So, this is not zuivere X11 mining project, and prizes are lower.
- NiceHash is a live marketplace for hashing power. It uses an orderbook to match mining contract buyers (miners) and sellers (hardware providers). The ondergrens amount of hashing power you can order is 0.30 GH/s. It is more difficult to use and is recommended for advanced users only.
Cloud mining downsides
The main disadvantage of cloud mining is the risk that mining becomes unprofitable with your rented hardware and you just can’t do anything about it spil you paid it 100% upfront. That is also why most of the cloud mining providers are not keeping profits for themselves and are rather selling contracts te the very first place.
Usually, this happens when the value of your coin gets low for some reason or fresh equipment with better spectacle comes out. Your cloud mining provider will turn your device off spil it consumes more energy than are mining prizes. You also don’t own any hardware after your renting contract completes, which means you cannot sell it.
Then, there is a significant risk that the company that provides cloud services will just vanish – many cloud services can even commence out spil a legitimate business and get greedy after a while, or do not keep up with the everzwijn onveranderlijk pressure to upgrade and invest te their hardware. Some of them oversell what they have.
- Want to mine Dash with your hardware? See this guide and support forum.
- For the latest news and information from Digital Metselspecie head to official Twitter account and Reddit channel.