MinerGate.com is a cryptocurrency mining pool that was allegedly created by a group of crypto coin enthusiasts. Launched into operation a little over 3 years ago on March 4th, 2014, MinerGate has served as a reputable mining pool destination amongst crypto-miners. Recent research though will reveal some shady business dealings being practiced by MinerGate. The chief complaints regarding MinerGate would be the theft of hashing power and taking portions of mined shares for themselves.
While these complaints may seem justifiable to MinerGate due to how inexpensive they offer their services, we still find it shady to say the least. With this in mind, the objective of our comprehensive review would be to provide you with all the information necessary to determine whether or not you believe this Bitcoin mining pool to be a trustworthy and promising mining destination.
About MinerGate
MinerGate is an online cloud mining site where investors can mine a variety of cryptocurrencies. Compared to most cloud mining sites where users can only mine a singular cryptocurrency, users at MinerGate are able to mine different coins simultaneously. Users are also enabled the ability to auto-mine coins with the highest exchange rate so that they can generate the most profit from their computing power.
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According to the site, if you choose to mine more than one cryptocurrency simultaneously, users shouldn’t suffer a decrease in hashing power. Contradictory to this claim though, many users have reported a decrease (or theft) of hashing power when they have tried to mine more than one cryptocurrency at one time. No conclusive research has been proven in this regard but numerous user-reports make this a difficult topic of discussion to overlook.
Regardless, MinerGate is still one of the largest and most reputable cloud mining sites currently hosting over 1.7 million miners world-wide.
Who is Behind MinerGate?
Due to how popular of a cloud mining site that MinerGate is, we were surprised to discover that the only identifiable information provided on the site would be their email address (contact@minergate.com). Typically operations of this magnitude don’t remain an anonymous operation for long, yet MinerGate has figured out a way to do just that. A Whois.com report will reveal that MinerGate.com was privately registered making it nearly impossible to acquire the registrar information.
Furthermore, no relevant ownership information can be discovered on their About, Contact or Terms of Use pages. Even their social media pages like their Facebook page (facebook.com/MinerGate) fail to churn up any evidence as to whom is responsible or operating behind this large cloud mining destination.
How does MinerGate work?
Users who wish to mine cryptocurrencies at MinerGate must first create an account at MinerGate.com. For novice users who are new to mining cryptos, MinerGate provides their own wallet so users without a wallet address are enabled to start mining. The incorporation of a 2 factor authentication is recommended so that even if someone figures out your password your funds are still in safe hands.
The next step you will need to complete after you have created your account would be to download the MinerGate software, then install it. If done correctly, the website should be able to detect the software on your operating system and verify that it is the most current and correct version. Once these steps have been completed the software should automatically be able to tell which equipment you possess, where users will be prompted to mine the most profitable cryptocurrency or whichever one they choose.
The last step would be to select Start Mining, then verify the quantity of cores you wish to use. Assumingely, the fewer amount of cores you wish to enact, the slower hash rate you will generate, but the less stress your hardware will have to endure.
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MinerGate Platform Features
MinerGate provides miners with a number of unique features that aren’t necessarily available on other cloud mining sites. Listed below are several features that you can expect to take advantage of at MinerGate.com.
Smart Mining
Another feature available at MinerGate enables miners to employ an algorithm to determine which cryptocurrencies will yield the highest profit to power ratio. Users have the ability to determine whether this feature be enabled, or if they prefer to mine a cryptocurrency of their own choice.
Profitability Calculator
MinerGate features a profitability calculator on their site so users can determine their profit at any time. Users can calculate their hourly, daily or weekly profit potential through their profitability calculator.
Versatile Mining
Besides having access to 14 cryptocurrencies, users are able to mine more than one cryptocurrency simultaneously. Allegedly, the site claims you can use this innovative feature without suffering a loss of hash power, but user-feedback argues otherwise.
MinerGate Reward Program
Miners have an incentive program where they are able to achieve badges for tasks completed. The more tasks you complete, the more badges you earn, which will ultimately earn you a free prize through MinerGate once all badges have been acquired.
Supported Cryptocurrencies
MinerGate supports a total of 14 cryptocurrencies. Now, dependent upon with cryptocurrency you choose to mine will reflect your profit to power ratio. This is where MinerGate’s smart mining features becomes quite valuable due to the fact it can check which cryptocurrencies are the most lucrative to mine to enable you to generate as much profit possible.
- Bitcoin
- Ethereum
- Ethereum Classic
- Zcash
- Litecoin
- ByteCoin
- Monero
- FantomCoin
- QuazarCoin
- DigitalNote
- MonetaVerde
- FashCoin
- Aeon coin
- Infinium-8
Is MinerGate a Scam?
MinerGate is not a scam, Ponzi scheme or pyramid operation. MinerGate.com is a legitimate and reputable cloud mining site for miners who are looking to accrue more cryptocurrencies for their Bitcoin wallets. Relevant and recent user-feedback will indicate to us that MinerGate appears to be skimming users hashing power when mining more than one cryptocurrency at one time, but other than this mishaps, there have been no reports of abuse which is rare across a cloud mining site that hosts over 1 million miners daily.
Community Feedback
I’ve noticed about 15% drop in hash rate when using them, and their miners go down a lot…They’re a great way to get your feet wet, but don’t waste a $4,000 mining rig hashing for them.
I’ve had no problem withdrawing my balances. I have have no doubt they are using some of my hash to benefit themselves. The definition of a scam is something one can argue over. Is this a scam because you could do way better on your own with little effort? Yes. Is this a scam because you will never see a dime of the currency you mine? No.
For more feedback regarding whether MinerGate is a scam, feel free to visit this Reddit thread.
Popularity
A SimiliarWeb report shows that MinerGate.com had a global rank of 2,345 as of November 8th, 2017, which makes them one of the most popular cryptocurrency mining sites. On average, this site receives a total of over 11 million monthly visits, which indicates to us that MinerGate is a popular cloud mining site. Most of MinerGate’s visitors consist of people from Russia, Brazil, the United States, Ukraine and Vietnam.
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MinerGate Review Conclusion
MinerGate is an authentic cloud mining site that enables hundreds of thousands of miners the ability to mine cryptocurrencies on a daily basis. An operation as reputable and widely-used as MinerGate doesn’t achieve their level of users by scamming individuals even though the allegations of them skimming hashing power does raise concerns. Until more feedback has been received MinerGate will not be classified as a scam. However, we aren’t also condoning the use of this cloud mining site.
Verdict: MinerGate is a recommended mining pool!
For legitimate mining opportunities, you’re welcome to visit our Cryptocurrency Mining Guide.
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It seems to be the first mining pool which provides service for merged mining.
it’s a good tutorial, thnks
I was always skeptical about new pools, but this time I decided at my own risk and risk to try to use this site. And immediately I ran into the problem because of my stupidity, later I was helped in the support service. This case informed me that this pool takes care of its users.
If you are tired of infinite problems related to settings of your hardware my advice is to deal with the Minergate pool. It is the easiest and most convinient one
Cool guys from Minergate made the easiest mining of coins for you. It’s safe to work with them and you can not worry about your coins to be secure
I started Mining BTC with Minergate the day after Christmas of 2017,, since then I have had no real complicated problems that could arise any suspicious attention of any kind. I buy contracts at what choice of GH/s of BTC and that’s that . While mining BTC the accumulation of btc can either be withdrawn to an account or what I do is reinvest mined btc and buy contracts ,. I found Minergate to be a little bit more expensive with contract maintenance fees. But hey, I made a free choice support Minergates cloud mining with an open mind, honesty and willing to be patient.
I thought the same at first, but I am mixed now. Remember the hashing rate fluctuates constantly, just tap the s-key in terminal to view. What I do know is that the total hash rate you see in your terminal is for that machine or rig only, so if you add them all up you will get the total of all your rigs. Now, as long as you are hashing the same currency on all rigs, the total will always show up on the minergate account page for your account. That rate is ALWAYS less than the total you add from the rigs terminals(which never lie). So where is the hashing power or numbers going? I don’t know the answer for sure. What I do know is that if you set your rigs to mine one currency(or parallel mine), and view your account login page AND your rig terminal concurrently(add them up if more than 1),then you will see that the good and bad shares found are the same, So, If this were a hash sharing outfit like nice-hash then I can see how they might be able to skim perhaps, but I believe with minergate that the hashing is done on the separate rigs so we get to view the actual hash rates which produce the total good and bad shares, which are viewable in real time on your terminal as they happen which share numbers match exactly what is on your account page.
scam dont payout and dont reply to tickets
infinium-8 I don’t think it exists! i guess that was 200h/s of mine someone used for somewhere else.
I got negative balance for MONERO!