Bitcoin Mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions. – blockchain as it is a chain of blocks. When a block is discovered, the discoverer may award themselves a certain number of bitcoin. Instead of buying mining hardware and mine at your home computer, you have the possibility to “rent” all that equipment and to start mining immediately – Cloud Mining
Eobot Cloud Mining Review
Eobot cloud mining launched in April 2013 in the United States. On Eobot it is very easy to mine bitcoins and even other cryptocurrencies with the same mining contract. The user interface is very simple and the mining stats are being updated in real-time.
Some of the users also call the platform “Eobot Wallet” due to the fact of the possibility of having crypto wallets for all available coins on Eobot platform on one single place.
There are two main mining contracts on Eobot bitcoin cloud mining platform
A. 5-year rental lengths
B. 24 hour rental lengths
Eobot Cloud Mining Plans:
* Cloud SHA-256
SHA-256 algorithm follows Bitcoin difficulty 1.0 GHS per 1.0 cloud instance owned, which in the past has increased exponentially. This means payouts will likely be reduced over time unless the price of Bitcoin rises to keep pace.
The approximate price for Cloud SHA-256 4.0, GHS $0.30, if you are purchasing via credit card your account will be held for 6 months.
For all the mining contracts and all the mining technology, Eobot “takes” fee for electricity and maintenance.
The approximate fee for the S9 and 4.0 GHS, is $0.00021/GHS/Day.
GHS 4.0 runs on newer Antminer S9 hardware. This means the mining chip design is more efficient per watt, so the electricity is smaller.
* Cloud Scrypt
Scrypt algorithm, 1.0 MHS per 1.0 cloud instance owned, Cloud Scrypt follows Litecoin difficulty, which in the past has increased exponentially. This means payouts will likely be reduced over time unless the price of Litecoin rises to keep pace.
The approximate price for Cloud Scrypt, MHS $10.
Big advantage of Eobot mining is the allocation of main and familiar cryptocurrencies. It is very comfortable to use Eobot as a wallet if you have several coins and want to manage them in one place.
Available coins on Eobot:
Bitcoin, Ethereum, Litecoin, Steem, Dogecoin, Ripple, Dash, Golem, BitShares, CureCoin, XEM, Monero, Zcash, Factom, Bytecoin, Aufur, Lisk, MaidSafeCoin, and Gridcoin
Eobot Miner / Software
Eobot bitcoin cloud mining had software to mine bitcoin on the user’s computer connecting to the Eobot Mining pool. The software was called “Eobot Miner” and it used the user’s CPU or GPU processing power to mine the selected concurrency. The Eobot miner is not available for download on the Eobot dashboard anymore.
On Eobot mining platform there is a possibility to exchange between the available coins on your account.
It is very simple and easy to exchange between coins but keeps notice that there is a very high fee of 5% for each exchange activity.
If you want to withdraw your coins to another wallet or to any other purpose, you can choose between Automatic withdraw or Manual withdraw, there is a minimum amount for every cryptocurrency and there is a fee apply.
Eobot Minimum Payouts
Bitcoin : Minimums: 0.002 BTC
Ethereum, Litecoin, Dash, Zcash, Monero: Minimum 0.1
Steem, Curecoin: Minimum 10
Ripple: Minimum 20 xrp
Eobot Fee Payouts
Bitcoin : Miner/Tx Fees 0.001 BTC
Litecoin, Dash: Miner/Tx Fees 0.002
Ethereum, Monero: Miner/Tx Fees 0.01
Ripple: Miner/Tx Fees 0.02
* important note: Due to US Economic Sanctions Laws, Eobot is not available in North Korea, Iran, Cuba, and Syria.