Frequently Asked Questions
Answering popular questions from our clients
We offer hash rate as part of a single package which is 50 th/s.
The cost of renting a hashrate consists of 3 main cost items: equipment + electricity + maintenance. The term of the contract is also taken into account, in our case it is 3 years. As a result, it turns out that you will spend from 17.38 dollars for 1 terrahash per year. Compared to our competitors, our tariff is one of the most favorable investments.
We only provide one long-term contract for three years. Generally, long-term contracts are favorable for customers compared to shorter contracts, such as 6 or 12 months.
Our service provides a guarantee to get bitcoin mining within the contract. Let’s take an example, the asic miner is broken and while it is being repaired, our reserve is turned on, as soon as we reconnect it, everything goes back to normal. This also applies when there is any kind of accident in the power grid. As soon as everything is restored to you will work and the reserve asic miner until you cover the downtime. All actions are recorded in your personal cabinet, in the form of technical messages. But there is a percentage of downtime, which we put in the contract and it is equal to 3%.
Our service provides a guarantee to get bitcoin mining within the contract. Let’s take an example, the asic miner is broken and while it is being repaired, our reserve is turned on, as soon as we reconnect it, everything goes back to normal. This also applies when there is any kind of accident in the power grid. As soon as everything is restored to you will work and the reserve asic miner until you cover the downtime. All actions are recorded in your personal cabinet, in the form of technical messages. But there is a percentage of downtime, which we put in the contract and it is equal to 3%.
We cannot state and can only assume how much a single device will yield. The formula: 3 years x daily hash rate x network complexity. According to our contract we get approximate figures: 0.00108799 bitcoin. Attention: the figures are approximate.
The equipment is placed in a container-type data center in favorable weather conditions (Northern latitudes). Has an official connection to the power grid. Protected 24/7. It is connected to high-speed Internet up to 1000 mbps. Monitoring takes place around the clock with the help of our specialists.
The contract includes insurance that kicks in at the time of breakdown. You get hashrate production without interruption. As soon as a part of the rented miner is plugged back in, the backup miner is shut down, so you won’t even notice the downtime. Since we use one model, it is beneficial to us to reduce the period to a minimum and therefore we keep spare parts in stock for quick repairs.
On average 2 times a year for us comes critical periods, when it gets very cold and frostbite wires and the transmission of electricity object is complicated, as a rule, this period lasts about 2 weeks. The second period, when summer comes hell of a heat wave and can reach up to 35 degrees Celsius, which leads to overheating asic miners and plus there is a shortage of electricity due to high consumption in the networks. In any case, these episodes are covered by insurance and if there is downtime, it will catch up in more favorable days.
We are a small company, but we have high competence in mining technologies and hosting services. Our main focus is to provide first-class service to our customers who want to mine bitcoin and not waste their time on technical solutions. We do not use risky instruments such as lending, leasing in order not to expose the company to risks . We also monitor the cost of electricity increase in the host region up to 2028 to provide long contracts. In addition to this we are constantly improving the service of asic miners on an industrial scale.
We accept payment in USDT cryptocurrency. Instructions on how and where to exchange fiat money to USDT. All transfer fees are paid by the client. on average, the fee for one package is 1.5 USDT.
Prices change dynamically and depend on the cost of equipment and electricity. For the cost of the contract for three years, please see the Pricing page More exact amount you can calculate in your personal cabinet.
Unfortunately no, in three years the mining equipment will already be obsolete. But we are sure that you will be able to replace with a new contract using more energy-efficient equipment. All the movements of manufacturers are going in this direction.
The commission is on average 1.5% of the contract. This commission is taken away, not by our service, but by the mining pool through which the delivered hashrate is processed.
Hashrate is a measure of the power or performance of a cryptocurrency’s computing network. It is measured in the number of hashes, or hash functions, that can be computed in a given period of time. In the cryptocurrency world, hashrate is used to measure the speed at which transactions are processed and blocks are mined. The higher the hash rate, the more calculations the system can perform in a short amount of time, which increases the security of the network and ensures that transactions are confirmed quickly and rewarded.
Payments are made weekly to the bitcoin wallet you specify at the conclusion of the contract.
XoxMining’s cloud mining partner is the industry leading brands of mining pools Antpool, F2Pool, TrustPool, Emcd. Sustainable mining pools with a proven track record of reliability are important to us. Mining pools are important because it is at this stage that the hashrate transitions to the bitcoin stage. Pool settings are handled by our service and it is done once at the very beginning of the contract. The pool is not changed during the current contract.
There are whole groups of scammers on the market who make fake social media groups, websites or use social engineering to swindle data from you. Attention: We never communicate by phone or messengers. All communication between the service and the client takes place inside the personal cabinet. We accept your bitcoin wallet number once for the entire term of the contract. It is impossible to change your wallet, it is done within the framework of anti-fraud, even if someone gets access to the cabinet of XoxMining service.
Of course, we have competitors and quite a few big companies. But the main difference is that we use equipment one generation older, which is more energy efficient, so you pay less for electricity. In terms of pricing, we are in the top 3 most favorable contracts in the cloud mining market, and in terms of contract duration we are confidently in the lead. For clarity, we have created a table comparing us to our competitors.
Payments are made to your bitcoin wallet. Bitcoin is credited weekly according to the number of rented hashrate packages.
We have prepared instructions on how to open a bitcoin wallet.
We provide hashrate rental services legally. We comply with all necessary requirements of regulatory authorities, including KYC check. The equipment is legally imported into the country where it is placed. Purchase of electricity is done officially. Payment for services is verified to AML standard.
Whenever you invest, you run the risk of making a lot of money or losing some, you have to understand the risks and decide whether they are acceptable to you. Although bitcoin has performed well in recent years and is estimated to do much better, there is no 100% guarantee. There are always ups and downs in any market, but the cryptocurrency industry is only growing.
Yes, there are two periods of about two weeks a year, when it gets hot and vice versa, when the temperature drops to low levels. At this time, the power grids are under tremendous load. At these times we act depending on the situation and the rented hash rate can be reduced to minimum values.
Bitcoin is a new currency and therefore a new kind of money. Unlike the money we use today, which is controlled by our governments and a few powerful organizations, this money is a digital currency and it is not printed by banks. This currency is accepted worldwide at the same value.
This decentralization is the reason for the freedom and security of using this currency. This type of money has never existed before and it has no commissions or intermediaries capitalizing on its use. It is like using a free app to call friends and family anywhere in the world instead of paying expensive phone bills. For the first time, we the people are in control of our money and we don’t have to pay institutions to hold or use our money and then bill us. The best part is that it’s secure.
Bitcoin is a digital currency created in 2009, it is a software-based online payment system. Bitcoins are created as a reward for payment processing work, in which users provide their computing power to verify and record payments in a public registry. So-called mining, where individuals or companies engage in this activity in exchange for transaction fees and newly created bitcoins. This became evident in 2013, when the value of bitcoin more than 10-fold in a short two-month period, from $22 in February to a record $266 in April. At its peak, when more than 10 million bitcoins were issued, the cryptocurrency’s market value exceeded $2 billion.
This type of money or currency came into existence as a result of mining. The process of mining involves combining recent transactions into blocks and attempting to solve a computationally difficult puzzle. The first participant to solve the puzzle can place the next block on the blockchain and receive a reward. Rewards incentivize mining and include both transaction fees (paid to the miner in the form of bitcoins) and newly issued bitcoin.
The balance of your bitcoin account is stored using public and private “keys,” which are long lists of numbers and letters created by the encryption algorithm used to mine them. A public key is similar to a bank account number and is used as an address that is published worldwide and a way for people to send you bitcoins. The private key, which is similar to your debit or credit card PIN and should never be given out to anyone, is what you use to authorize sending bitcoins to others.
Cloud mining provides instant access to a mining platform to anyone who wants to start mining immediately, whether it’s because you don’t have enough knowledge to do it yourself or you simply don’t want to incur the huge upfront costs of purchasing and managing your own hardware system. It’s simply sharing the computing power of our data centers to mine together. By working together in a pool and distributing the payouts to the participants, miners can receive a steady stream of bitcoins from the day they activate their miner.
Our starting package is 2877 dollars, a small investment to try your hand and familiarize yourself with the technology without much risk. On average, with the Hodl strategy, this investment can be doubled and even tripled with the growth of bitcoin.
The minimum withdrawal amount is one week of mining.
Just check your wallet every week.
If you want to sell your contract after 30 days, follow these steps:
Step 1: Contact your account manager or customer service to request the sale of your contract. You will receive 80% of the current market value of the contract once it is sold. **We do not buy the contract, we offer the contract to other buyers and the amount will only be paid if someone buys your contract.**
Step 2: Your contract will be offered for sale to new and/or existing customers. The timing of the sale can vary, it can be very quick or take some time, it depends on the market. We will leave the contract open for as long as it takes to sell. You will continue to make a profit until the contract is sold.
Step 3: Your contract is sold. You will receive 80% of the current market value of the contract.
Taxation depends on the tax laws of your country; since you know that each country has different income tax rates, you should consult with your personal accountant or tax inspector on this matter.
We cannot give you legal advice; as far as we know this is legal in almost all countries, you will need to check this yourself in your jurisdiction.
We do not currently provide refunds. Dedicated resources for mining are not refundable.
Register in your personal cabinet, pay for the contract, specify your bitcoin wallet address and get bitcoins.
To buy hashrate, you will need to verify your account. You will need government-issued documents such as an ID card, passport or driver’s license and your photo to complete the verification. Customer identity verification is done to prevent fraud and money laundering and in accordance with international laws. If your country or residence is not listed as approved for KYC/AML procedures, you are not allowed to use the services. We do not store your personal data, but we have partnered with a first class service provider, so all information is kept confidential and secure.
The app is currently in development. We are trying to release it as soon as possible.
Service advantage in approach: 1. Length of contract. 2. Cost of the service (we have one of the most favorable rates on the market) 3. Hashrate rental as part of the industrial miner. 4. The amount of rented hashrate.
The use of KYC is required to comply with local anti-money laundering, anti-terrorist financing and other relevant regulations and policies. Through authentication, we can better protect your account, reduce the likelihood of fraud and provide you with better services. We will strictly protect your personal information.
Payment takes place exclusively in the personal cabinet of the service.
Yes, there is a choice of three pools. Sometimes we strongly recommend which pool is best to use.
A bitcoin wallet is set up to receive funds once at the very beginning of the contract, after which it cannot be changed and is retained until the end of the contract.