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ViaBTC Review: Is viaBTC Legit Or Scam? Find Out Today By Reading Our Review on Via BTC platform. The recent increase on crypto mining scam is alarming. Many has become a Victim of unrealistic promises on return of investment via crypto mining. It’s important to know that making money online is never easy, and number of legit mining sites are quite few among many. Researching very well before investing will help you make the right decision while investing. However on viaBTC.com review, we will determine if they are safe to invest with or not.
ViaBTC Review 2024
Via BTC Features
Viabtc offer many good features which shows that they are legit. These include serving users in 130+ country. However the platform can communicate in Chinese, Korean, Japanese, English, Russian, and Spanish. While you read more you will see all the features.
Other Features Are
- a wallet
- a block explorer
- a cloud mining platform
- The mining pool
- API
On the homepage itself, you can see the list of cryptocurrencies supported such as Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH), Dash (DASH), and many others. On the list, you can see the daily profit (USD/Th/s). the current exchange rate of the currency (in USD), the pool hashrate, the network hashrate, the number of miners, difficulty, and guide.
Smart Mining
One of the main features of ViaBTC is Smart Mining. It has two options: One-click Switch and classic Smart Mining. One-click Switch is available for Bitcoin and Ethereum pools. As the name suggests, it allows miners to switch to mining a different cryptocurrency without wasting time on the configuration of the mining process.
The Bitcoin pool allows switching in one click between BTC, BCH, BSV, and FCH. The Ethereum pool allows switching Ethereum to Ethereum Classic and vice versa.
Classic Smart Mining allows users to automatically switch to the most profitable coin that they can mine with the current miner’s settings. ViaBTC’s algorithm is considering a few factors here such as the miner’s hashrate, relevant market data, and other factors to maximize the profit automatically.
The auto-conversion and creating mining sub-accounts
As the name suggests, the auto-conversion feature allows users to automatically convert all the mining earnings into BTC or USDT every hour. A pretty useful tool that can save you a lot of time.
When it comes to the mining sub-accounts, it is another feature that will make your time with ViaBTC easier. It offers users to associate any subsidiary account with the same account via ViaBTC.
You can use this sub-accounts to withdraw funds to various addresses. Furthermore, you can associate each account with a different email address. You will find the mining sub-accounts feature pretty useful if you have several mining rigs or farms.
Cloud mining service BTC-360
Yet another exciting and notable feature of the ViaBTC mining pool. It allows users a 360 days long rent of a certain amount of computational power used for the mining of Bitcoin.
The only fee paid for the BTC-360 feature is a hashrate fee which is not fixed, rather depends on the current Bitcoin price. Furthermore, please note that the contract price is not constant either, It depends on the prices, mining difficulty, mining electricity costs, and other factors. You will get reward on a daily basis, after 00:00 UTC. Compare platform with ox mining platform.
ViaBTC Payment Methods
How does Viabtc share profit to investors? From my point of view, via btc use this formula to distribute ROI. The algorithm is PPS+, PPLNS, and SOLO.
PPS+ stands for pay per share plus. The standard PPS algorithm means that the miner gets a certain reward for each valid share she/he sends. PPS+ is a somewhat upgraded version of PPS. PPS is usually considered as one of the best models for those who mine with gaps or from time to time. Unlike PPS, PPS+ allows miners to receive additional profit via allocating mining fees through the PPLNS reward algorithm.
PPLNS means “pay per last N shares”. When a miner uses the PPLNS algorithm, the reward size depends on the number of submitted valid shares in the last N difficulty round when the block is found. The platform charges smaller fees if miners use PPLNS. To maximize rewards when using PPLNS, it is recommended not to stop mining. The gaps can cause a loss of profit.
The SOLO profit returns supposes that the miner who mines the block independently receives the entire block reward. The platform charges a fee for daily operation and the maintenance fee.
Mining Fees
ViaBTC offers a reasonable fee to users, however this fee might vary. Firstly, the block reward fees are 4% for the PPS+ payment method and 2% in the case of PPLNS mode. They charge 1% on SOLO miners, this is fee for both mining and withdrawing. More-so, they charge 2% on Withdrawals for the PPS+ and PPLNS miners. However, In the case of merged mining, the second currency comes for free.