Minegate.biz Review Is MineGate a Scam or Should I Invest

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MinerGate is a cloud mining platform that promises to provide users highest profit when mining. The platform allows people to auto mine coins that have the highest exchange rate. This means you can get the highest profit from the lent computing power.

MinerGate supports different currencies including Bitcoin, Litecoin, Monero, Bytecoin, Ethereum Classic, Ethereum, and Zcash.

How exactly does MinerGate work?

If you want to use MinerGate, it is very straightforward. Simply download their user agent and create an account. After creating an account, users can also use the website that utilizes the computer’s bandwidth to help mine cryptocurrencies.

Unlike other cloud mining platforms, MinerGate helps to clear the common complexities of mining. You do not require Matrix terminals, complicated parameters or commands. Simply get a standard computer with internet connection. Then, let MinerGate do the rest.

To consider it technically, MinerGate is a GUI miner. This means that the miner has its own interface in addition to the mining platform. The software also incorporates multi-pools to enhance the mining efficiency.

It is important to the point that though MinerGate looks highly simplified, it uses a complex algorithm to run the applications in the background. Another notable thing about the algorithm is that it varies the mining difficulty depending on the equipment being used. This is the best way to take mining to every person has a computer, a mouse, and internet connection.

Mining with MinerGate

Notably, MinerGate targets simplifying crypto coins mining as much as possible. You only need to follow these three steps;

  • Step one: Download and install the MinerGate client-`The MinerGate user client will provide you with the right interface to access all the features.
  • Step two: Create a mining account- Once you create an account, it makes it possible to access the mining wallet. At this point, you can start mining. It is crucial to secure the wallet with a very strong password to make it hard for hackers to break into the account.
  • Step three: Scan the computer hardware and start mining – Open the MinerGate and it will immediately start scanning the computer hardware so that it can select the most profitable crypto depending on the computer capacity, difficulty, and crypto prices.

At this point, simply hit Start Mining and select the number of cores to dedicate to the entire process. The fewer the cores you select on the GPU/CPU, the slower the hash rate.

The main features of the MinerGate

The design of MinerGate was targeted at giving users more and making mining direct. The design team was particularly focused on providing rich features for extra profitability. Here are the main features;

  • Multi-pool: Mining at MinerGate is categorized into pools that make it easier for miners to pick the most profitable place. You can select from the multiple cryptocurrencies based on their strength in the market and latest trends.
  • Smart mining: As a platform for optimizing mining returns, the algorithm applied in MinerGate helps users to pick the most profitable cryptocurrency to mine. You can even switch between cryptocurrencies depending on the shifting demand in the market. Note that if you do not want to use the Smart Mining feature, it can be turned off to focus on the currency alone.
  • Merged Mining: One unique thing about MinerGate is that it allows users to mine multiple currencies simultaneously. The service helps you to achieve this without reducing the hash rate of your computer.
  • The mining hardware intensity: MinerGate allows miners to use their CPU, GPU or combine them. It is up to the miner to select the number of the core to use from each. This is a great method to manage power consumption and system heat to give the system a longer lifespan.
  • Admin mining software: The MinerGate admin version app allows miners to start mining without necessarily opening the wallet. This guarantees users of faster access to the mining platform and extra security.
  • Metrics and tracking feature: To know the performance of your mining account, MinerGate provides users with progressive metrics. The metrics allow them carefully analyze whether their targets and profits are being met. One unique thing about the MinerGate is that its metrics allows users to follow and compare their performance to those of other miners. If you are performing poorly, MinerGate will demonstrate what can be done differently to raise the targets and achieve better targets.
  • The badge reward system: To motivate miners to work harder, MinerGate rewards them with a badge and special prizes. When you become exemplary in mining on the network, a reward, and a special badge will be attached to the account.

Pros of using MinerGate

  • MinerGate creates a DAG file that guarantees less stress for the user computer. This means that you can optimize mining even with the standard computer.
  • MinerGate has simplified mining completely so that every person can participate. People do not have to buy expensive mining hardware. The only thing that one needs is a standard computer to start mining the preferred coins.
  • Even people who prefer old school mining can still use the traditional methods such as Ethminer to access and mine the MinerGate pool.
  • Unlike other cloud cryptocurrency mining, MinerGate allows users to mine multiple currencies at once. This guarantees every miner of the highest possible profit.
  • MinerGate supports a lot of cryptocurrencies including Ethereum (ether), Bitcoin (BTC), Dashcoin (DASH), Infinium-S (INFS), Bytecoin (BCN), and Zcash (Zcash).

Cons of using MinerGate

Just like other cloud mining services, the biggest undoing of MinerGate is that it does not reveal the pricing model. Users only focus on optimizing the profits though the actual returns and deductions are unclear.

The final take

The traditional cryptocurrency mining is very complicated. New mining platforms such as MinerGate have become extra useful because they not only simplify the process, but also allow users to use their computers. This is one of the best ways of taking mining to the people. Though this cloud mining does not reveal the actual mining pricing, it is a great place to start especially for new miners.

IQMining.com Review

General information about IQMining

IQ mining is the cloud mining service that was founded in 2020 by a team of presumably Russian developers, though there is no clear information about the team on the website. There is only one video clip that features an engineer whose name is George Virsky.

He makes a video presentation in Russian that is why we have presumed that IQ mining is a Russian company or at least founded by Russian crypto enthusiasts. The video presentation itself is not really impressive, as it displays only a part of the farm and only a single member of the team, George himself.

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The website states that IQ Mining cooperates with data centers which are located in Canada, Russia, Iceland, Georgia, Algeria, and China. The central office of the company is registered in the Seychelles, which was obviously done for tax avoidance purposes.

The About Us section of the website states that the members of its team come from different scientific fields, but it doesn’t disclose their personal profiles. Remaining services are provided by IQ Mining corp., a company which did not feature in any other known projects.

All in all, there are no definite proofs that IQ Mining possesses the equipment and it is very unclear who stands behind the company.

Company address:

Suite 10 Premier Building, Albert Street, Victoria, Mahe, Seychelles. (Seychelles IBC No. 199574)
+44 1224 459763

Coins and Algorithms:

For SHA256: You have double ID
7d 24h 1h
” style=”color:#4d4d4d”> Bitcoin
For Scrypt: You have double ID
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” style=”color:#4d4d4d”> Litecoin
For Ethash: You have double ID
7d 24h 1h
” style=”color:#4d4d4d”> Ethereum
For Equihash: You have double ID
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” style=”color:#4d4d4d”> Zcash
For X11: You have double ID
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” style=”color:#4d4d4d”> Dash

Services Provided

The company website claims that every purchaser of their mining contract will receive 50% return on his or her investment. It is a rather bold statement, considering that the price of cryptocurrencies is constantly fluctuating, and the difficulty of mining is increasing.

The website also has a calculator, which shows that an average-sized investment of approximately $1,000 will bring around 16% of profits per day. Frankly speaking, such big returns are rather unrealistic. The majority of cloud mining services which have proven their trustworthiness, offer no more than 2 to 5% of daily return on investment.

IQ mining also states that they have unique software that allows mining of not only Bitcoin but also the most profitable coins at a given period of time. Apparently, you can’t manually switch between altcoins in the process of mining, like you do with the Minergate service. The software decides by itself which altcoins to mine and then converts them to Bitcoin.

The similar reward scheme is used by Nicehash, so IQ mining claims the profits they generate per each H/s is roughly 3 times higher, compared to other mining services.

IQMining provides means for mining the following top cryptocurrencies:

    You have double ID
    7d 24h 1h
    ” style=”color:#4d4d4d”> Bitcoin You have double ID
    7d 24h 1h
    ” style=”color:#4d4d4d”> Litecoin You have double ID
    7d 24h 1h
    ” style=”color:#4d4d4d”> Ethereum You have double ID
    7d 24h 1h
    ” style=”color:#4d4d4d”> Zcash You have double ID
    7d 24h 1h
    ” style=”color:#4d4d4d”> Dash

Frankly speaking, the overall concept of “profit optimization” which is employed by IQ Mining and other similar cloud mining services is a bit misleading in its essence since it is a generally known fact in the crypto world that the price of all altcoins is pegged to the price of Bitcoin to some extent. In other words, when the price of Bitcoin goes down, the price of almost all major altcoins also plummets.

There are certain exceptions, thought the price difference is not very significant and tends to even out with the price of Bitcoin. Therefore, if the cloud mining service doesn’t offer you an opportunity to manually pick the altcoin you would like to mine, then such ‘profitable’ offers are no more than a mere marketing stunt.

The software that QI mining presents as its distinctive feature is not innovative. NiceHash mining offers are based on the same scheme, while Minergate provides a choice of what altcoin to mine.

�� Fees and Pricing Schedule

IQ mining offers three types of contracts: bronze, silver, and gold.

All contracts employ the script algorithm miner. The price of 1 MH/s under bronze contract is $5; the owners of the silver contract will have to pay $4 per MH/s, while the buyers of the gold contract will enjoy the lowest price of $3 for 1 MH/s. Compared to other cloud mining services, these prices are more than reasonable, not to say cheap.

IQ mining also claims that they offer low maintenance fees due to the availability of smart contract with data centers. For instance, the maintenance fee under silver contract is just $0.003 per day. You can buy as little as 1 MH/s for $5, though the expected profit will also be the pathetic $7. The most expensive contract available at IQ mining is worth $30,000 for which you can buy 1000 MH/s.

There is a rather convenient revenue calculator on the website where you can input the exact amount of MH/s you would like to purchase and you will immediately see the expected profits. Certainly, these calculations don’t take into account the possible increase in mining difficulty and price fluctuations.

There are no mentions of special offers, welcome bonuses or referral programs on the website.

Overall, the pricing on IQ Mining seems to be suspiciously low, while the promised return on investment is unreasonably high.

Bitcoin cloud mining price:

  • 10 GH/s = 1$ (Bronze)
  • 10 GH/s = 0.8$ (Silver from 3000 GH/s)
  • 10 GH/s = 0.6$ (Gold from 30000 GH/s)

Litecoin cloud mining price:

  • 1 MH/s = 3$ (Bronze)
  • 1 MH/s = 2.8$ (Silver from 300 MH/s)
  • 1 MH/s = 2.6$ (Gold from 3000 MH/s)

Ethereum cloud mining price:

  • 100 KH/s = 2$ (Bronze)
  • 100 KH/s = 1.8$ (Silver from 30000 KH/s)
  • 100 KH/s = 1.6$ (Gold from 300000 KH/s)

Zcash cloud mining price:

  • 1 H/s = 1.8$ (Bronze)
  • 1 H/s = 1.6$ (Silver from 300 H/s)
  • 1 H/s = 1.3$ (Gold from 3000 H/s)

Dash cloud mining price:

  • 1 MH/s = 3$ (Bronze)
  • 1 MH/s = 2.8$ (Silver from 300 MH/s)
  • 1 MH/s = 2.6$ (Gold from 3000 MH/s)

IQMining User Experience

The IQ mining website has a decent minimalistic design and user-friendly interface. There are no wordy explanations of all the details of their operations, everything is kept uncluttered and comprehensible, which is a plus for the inexperienced miners but, at the same time, unconvincing for those who know a thing or two about cloud mining services.

The website content is translated into four major European languages (English, Russian, Spanish, and French).

There is also an easy-to-use calculator of expected profits.

The sign-up process is easy, you don’t need to verify your identity; only your name, surname, and telephone number are needed to create account.

✔️ Advantages:

❌ Disadvantages:

Suspiciously high profit forecasts.

Overall Conclusion

IQ Mining seems to be not overly credible since the website contains very little information about people who stand behind this company. The fees are pleasantly low and the promised profits are suspiciously high. Their distinguishing feature – the smart mining of altcoins – is appealing, though it is not unheard of in the market; there is no clear explanation of how it actually works.

Generally, IQ mining is suitable for small ‘try-out’ investments of no more than $100 – serious money should be invested elsewhere, at least until the service gains more credibility.

Minegate.biz -Offers a unique opportunity

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Minegate.biz offers a unique opportunity

About Minegate.biz

Minegate.biz offers a unique opportunity for everyone who wants to make money on investing in the progressive currency Bitcoin. Their main activity is the mining of the cryptocurrency, through the use of special computers – miners and algorithms used to solve complex equations. Increasing their capital in Bitcoins, They also carry out one more activity – the trade in cryptocurrency on the exchange.

Acting in two directions at once, Minegate.biz receive a stable profit, they the success of the project and the regularity of payments. We work around the clock, concluding the most successful transactions, trading on the exchange in order to get maximum benefits.

Program Name Minegate.biz
Program Type Manual
Social Media Facebook,Instagram
Minimum Deposit 1 USD
Minimum/Withdraw 20 USD
Started Date
Refer Commission 1%-7%
Payment Processors Bitcoin
Program Support suppor [email protected]
Website Url Click Here To Open Program Site

Minegate.biz Investment Plan

Opening your personal account is the first thing you have to do to start participating in Minegate.biz. It will only take a few minutes. In order to register yourself as a member of Minegate.biz, click on the ‘Sign Up button, after which you will be taken to the page with the registration form. Fill in the details as required, and complete the process.

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Step 2 – Make deposit

To make a deposit you have to log into your personal account using your login and password. Choose ‘Make investment’ section, select an investment plan most appropriate for you, and decide what amount to invest. Select the required electronic payment system. Follow the instructions of electronic payment system and approve the payment finally. Wait for adding funds on your balance.

Step 3 – Add wallets

Before withdrawing funds, please set up payment system wallets in settings. You can do this on the ‘Wallets & Settings’ page.

Step 4 – Withdraw funds

After your earnings were accrued, use ‘Withdraw funds’ function and make a request. It is quite easy: type an amount, which you want to withdraw, choose payment system and click ‘Withdraw funds’ button.

Some Good Things About Minegate.biz

Daily Charges

They work around the clock – this means that your money is constantly in circulation and your profit grows every hour.

Comfort and protection

Your charges are displayed in your personal cabinet, you can access it from any device, and all your accounts are securely encrypted.

Instant Payments

Getting your profit is very simple – you make out an application in your personal account and in a moment receive money for your wallet.

Professional Team

Minegate.biz have many years of experience working on stock exchanges and in the sphere of cryptocurrency mining – you can completely entrust your investments to them.

Hyipstation is not a registered broker, analys t, investment advisor or anything of that sort. Everything that we provide on this site is purely for guidance, informational and educational purposes. All information contained herein should be independently verified and confirmed.

We do not accept any liability for any loss or damage whatsoever caused in reliance upon such information or services. Please be aware of the risks involved with any trading done in any financial market. Do not trade with money that you cannot afford to lose. When in doubt, you should consult a qualified financial advisor before making any investment decisions

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