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1 Hash Review: Does 1 Hash Mine or Scam Investors?

1 Hash Review: Does 1 Hash Mine or Scam Investors?

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Estimated reading time: 6 minutes

1-hash.com claims to mine Cryptos for its users. When you look at the homepage, you will see legitimate Bitcoin mining business going on here. To get started, the website is asking you to either mine in the cloud or rent their hardware for that purpose. The cost of this hardware is anywhere between 0.005BTC and 100BTC.

Note: If you want to get started in Bitcoin mining right away, sign up here.

There are 4 plans that are currently offered by 1-hash.com. With the starter plan (min BTC is 0.005), members are told that they will make a profit of 5% per week. That is quite reasonable because most sites in this niche just get it wrong when it comes to the percentage of interest that one can earn in a week. You normally get hyped up figures like 200% or more. This is not the case with 1 Hash though.

The second plan costs 0.11 BTC to get started with. Weekly return for this plan is 10%, .although the site claims that the amount to earn will greatly vary depending on facts affecting Bitcoin mining.

The third plan costs 1.01 BTC. The expected weekly return is 15%. You should never start with this plan when testing a service like this.

And finally the fourth plan. This one costs 5.01 BTC, and you’re being promised a weekly profit of 20%. It isn’t possible to achieve this kind of return on a consistent basis. Even if you are lucky this week, it doesn’t mean you will be lucky tomorrow.

So, does 1 Hash make any sense when it comes to the amount of money you can earn through their mining rigs?  That’s what we shall be tackling in this review of the 1 Hash website.

1 hash company details

1 Hash Review

1-Hash is a website owned by a company called Hangzhou Mine Technology Co., Ltd. Apparently, this company is specialized in implementing mine technology to guarantee fastest mining for its customers. The company claims that they are located in Zhejiang Province National University Science Park. Why are they located here? Well, according to 1 Hash website, this area is rich in science and technology atmosphere. It’s the best place to set up a business like 1 Hash. They have set up advanced data centers in this region to help with mining Cryptos for their members.

The company claims that they are successful because they have access to market insights and cutting-edge R & D core technology. In addition to this, they have an international presence which allows them to reach a wide range of audience.

1 Hash also believes that they are among the pioneers of Bitcoin and Blockchain technology. The website hints that they have been around since the introduction of elite coins like Bitcoin. According to them, this company has always worked with people who are professional, innovative and hard working. 1 Hash has since expanded its services to cater for a broad range of audience, bringing them the best in Bitcoin mining technology.

This is a perfect description of a mining company that is serious about making money on behalf of its investors. But we still don’t believe that all that glitters is gold. Even with genuine sites, you can’t expect to make a consistent income as a cloud Bitcoin miner.

You’d need a lot of patience to even break even. You’d need assurance that the site is doing what it can to implement the latest technology in cloud mining. 1 Hash has the advantage because it’s based in China, and they do have all the benefits that mining Bitcoin from that country comes with.

You see, even though this company sounds sophisticated going by the description above, we still believe that no one can achieve the above profits easily and consistently. There is no amount of achievable hashpower that can guarantee you profits in Bitcoin mining at all times.

The more people get into Bitcoin mining, the harder it becomes to mine and make abnormal profits on a consistent basis. If making money was as easy as approaching a company with high-tech mining hardware like 1 Hash, everyone would be rich by now. Millions of investors interested in Bitcoin mining would have signed up by now.

Features of 1 Hash which makes them believe that they are the best in the business

It’s one thing to believe that you are the best, and it’s quite another to deliver results that can be verified.

1 Hash makes a few claims on their website. They claim that they are the fastest cloud mining company on the internet. Due to their alleged robustness in technology, this company believes that they can provide investors with the fastest, most stable bitcoin mining facilities for their profit.

1 hash benefits

We are not sure how 1 Hash was able to prove that they are the fastest in Bitcoin mining. Equally, we are not sure which benchmark was used to ascertain these claims. After all, for each and every statement that is used to promote a service, there has to be at least some proof that what is being said is the absolute truth.

1 Hash also makes their own hardware. Again, they believe that since they do have full control over hardware, they can mine efficiently and faster than the rest. That may be true. But again, it does not rule out the possibility that this is a marketing stunt.

All websites that deal in Bitcoin mining make these claims. It is hard to verify these claims unless you purchase their hashpower to see whether or not these claims will materialize into something meaningful. As it currently stands, these promises are overwhelming.

Other features like up-time, fast payout, and security have been discussed on the site. Again, the same thing applies here as well. 1 Hash could simply be telling investors these things so as to win their trust. There is no guarantee that investors will enjoy these features.

Information that you should be looking for instead

When you invest your Bitcoin through 1 Hash, you will be trusting this company to handle your investments on your behalf, thanks to their alleged high-tech mining equipment which is fast and ”highly efficient”.

But that’s not all. We need to learn what their blockchain consists of. We need to learn the value of their alt coin when compared to Bitcoin. We also need to ask ourselves how easy or difficult it is to mine coins here. And most importantly, we should be interested in figuring out what the community surrounding coins is like at 1Hash. This is because we want to ensure that the coins are adequately decentralized.

Now, this information can be found in any website that is serious about generating revenue for its members through Bitcoin mining. Even if it’s not available, they will make a passing mention of these things. At least visitors should get a sense of security when they come across any site that deals in Bitcoin mining. However, with 1 Hash, one lacks this sense of security, despite the website touching on topics which they believe are useful for any investor.

Our Best Advice for you

First of all, we like the fact that this company is supporting multiple forms of payment. Unlike companies that only accept payment in Bitcoin only, this one accepts payments in Perfect Money and Nixmoney.

1 Hash also uses a very basic web template which we feel will do more harm than good to their business’ image. For now, we will be recommending the famous list of crypto currency mining companies. Sign up and start mining.

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