Categories: CryptoNews

OXBTC Launches Bitcoin Cloud Mining Promotion

Every time the topic of cloud mining is raised in the Bitcoin world, there is a fair amount of hesitation by community members. With all of the recent Bitcoin cloud mining scams taking place, promotional offers and cheap contracts are not necessarily greeted with a lot of enthusiasm. OXBTC released their ‘most cost-efficient cloud mining contract”, which is relatively cheap, and it will be issued on first-come-first-serve basis.

Also read: Tamper-proof Decentralized Blockchain Voting With BitCongress

The New OXBTC Bitcoin Cloud Mining Contract

As we mentioned in the Bitcoin cloud mining scam education article yesterday, the number of legitimate companies in this space is fairly limited. No one is saying OXBTC doesn’t have genuine intentions, but there are obvious questions being raised when a platform offers both Bitcoin cloud mining contracts and deposit investment returns, as both seem to be a conflict of interest.

That being said, the company has launched a new Bitcoin cloud mining contract, which will cost users US$149 per 1TH/s of mining power. This price is quite lower than most competitors for OXBTC, although users need to keep in mind this is a promotional effort which will only run until March 30th. Moreover, users can only purchase a maximum of 100 GH/s per account at these rates, making the complete offering rather strange.

To make matters even more confusing, OXBTC is limiting this sale to 5TH/s per day, indicating interested users will need to act fast if they want to make a purchase during this promotional event. For those users who are not too keen on this approach – or have simply missed out on these reduced prices – there are other promotions available as well.

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OXBTC has a standard Bitcoin cloud mining contract, called GHS02. Prices for these contracts have been reduced as well during this period, allowing users to snag up some Bitcoin mining power regardless of their budget. Company prices for their Scrypt cloud mining contracts have been reduced to US$13/MH as well.

However, there remains a source of worry with the OXBTC platform, as any company offering Bitcoin cloud mining and a deposit investment program at the same time is rather strange. There is no reason to believe the deposit investment funds would be used to pay out Bitcoin cloud miners or vice versa, though. Additionally, OXBTC will award affiliates with 25% of referral investments, which is quite a high amount. Always do your own research before making any investment or deposit.

Source: Reddit

Images credit 1,2

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JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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