- Entry on: 2019
- Type of mining: Cloud
- Equipment market:
- Supported coins: BTC
- For users: Beginners
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MiningPal an Asian cloud mining platform born in 2019 in Singapore.
In a few months the company has gathered many users around the world offering the possibility to mine only BTC with very low maintenance costs.
Of MiningPal there are photos of Farms, distributed in various areas of China, are typically Chinese farms not beautiful to see but built to produce at low cost.
The partnership with Polychain Capital, a well known investment company in crypto, makes us think that we are talking about a new reality in cloud mining with a good financial basis even if we don’t have much information about the company yet.
It does not offer the sale of entire miners as some competitors do ( cloud hosting ) but allows its customers to buy hashrate packages with a few steps and with a fairly clear and simple interface in its use. We would surely have preferred to have more intuitive functions and easier steps even if lately they have made improvements to the interface to simplify some steps.
For functions and sales methods they were certainly inspired by Bitdeer, from which they also copied some of the type of packs and some graphic parts, but they chose to offer the packs with electrical costs already included and a very low maintenance fee.
The fact that we have low fees is certainly a good thing but we must point out that the costs per single Th/s are high, in essence we do not deduct the electricity costs every day from the mines but they make us pay them in advance at the time of purchase.
Perhaps it would have been more correct to highlight this for those who do not have much experience in mining.
We have been using the platform since the end of 2019, we have not had any problems with withdrawals and the use of the platform.
When we turned to technical support we received answers in good times.
The conditions of the packs are quite clear, unfortunately you can only pay with crypto and it is not possible yet to pay by bank transfer and credit cards.
As for the cost of packs and fees you have to do well, they are not at the best market levels, often you will find similar packs on other platforms with better conditions but we recommend to look if there are active promotions or special discounts that could make some packs interesting.
- Easy to use interface.
- Good customer support.
- There are photos of Farms.
- Packs with very low fees.
- They don’t offer hosted miners.
- Few types of mining contracts.
- Mining only for BTC.
- They do not accept credit cards and bank transfer.
Miningpal is a platform that does not completely convince us because of the cost of the packs as well as the little information about the company.
However, our experience has been positive even if we have not invested much because we did not find the packs for BTC so convenient.
They don’t have bank transfer and credit cards between payment methods and this can be a big limit for some customers.
If you are considering investing in MiningPal cloud mining we suggest you to check the economic conditions of the packs because they may not be the most convenient on the market, better to buy when they have an active promotion or only after checking if they are really the most profitable on the market.
Platform suitable for experienced and less experienced users even if the need to pay with crypto certainly forces those who approach cloud mining to buy crypto currency first to make a purchase.