SIMPLE MULTI-CRYPTOCURRENCY MINING-EOBOT.COM REVIEW
Simple Multi-Cryptocurrency Mining-Eobot.com Review : Eobot is one of the oldest running cloud service provider on the internet. They offer cryptocurrency mining for SHA256 and Scrypt algorithms that is running on their Antminer S series miner rigs. Their more than 590,000 users can enjoy the benefits of the mining of the digital currencies without the anxiety about the electricity costs or the cooling of the hardware.
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ABOUT EOBOT
Eobot has been founded in 2013 in Los Angeles, California. The owners of the cloud mining service wish to keep their identity securely as there is no ’About’ section on their website and they do not share anything about the background of the company. Although they are one of the oldest and longest running cloud mining company on the market they do not provide any information on their founder or owners either. Even their Linkedin profile does not link the founders, owners, nor the CEO of the company.
MINED COINS
BTC ETH LTC STEEM DOGE XRP DASH RDD BTS CURE XEM XMR ZEC FCT BCN REP LSK MAID USD GRC GOLD
SERVICES PROVIDED
Eobot was one of the earliest on the market to provide cloud mining services. They offer rental contracts from as short period of time as 24 hours to up to 5 years. Eobot is trying to remain up to date with new trends, they are adding new features from time to time and upgrading the equipment regularly.
At the moment the service has almost 230 thousand users registered, but apparently not that much of them actually have purchased a lot of hashrate for cloud mining. There are two options available in the form of 5 year contracts – GHS 1.0 sold at $0.20 USD per GHS with a maintenance fee of $0.00232/GHS/Day and GHS 2.0 available at a price of $0.50 USD with a lower maintanance fee of $0.00117/GHS/Day. The first option offers cheaper price for the hashrate, but the profitability is much lower with the maintenance fee resulting in about 95% of what you mine. The GHS 2.0 contracts on the other hand are pricier, but with lower maintenance fee (apparently using AntMiner S5 as mining hardware) that is currently about 49% of what you mine. The mining break even time in months at the moment is almost 50 months for the GHS 1.0 and about 12 months for the GHS 2.0 cloud mining contracts according to the service stats. At some point there were also scrypt cloud mining contracts being sold as well, but these are no longer available.
Beside cloud mining Eobot is running several side projects. In the Cloud Seti project, Eobot clients can rent hardware capacity to search for aliens in the space, this is mostly a charitable activity. The other non-profit activity is Cloud Folding, where the machines are used for medical research.
Eobot hasn’t forgotten the smartphone users. They have smart phone apps available in the Play Store and in iTunes to serve both Android and iOS users.
FEES AND PRICING SCHEDULE
You can purchase cloud mining hahsrate or use the service as a form of crypto currency exchange, but you should be aware that when using crypto currencies to buy hashrate or to exchange between them there is a 5% fee charged. There si also support for purchasing hashrate via PayPal, but if you do so there is a rule that no withdraws can be made for 180 days after every PayPal purchase as apparently set as a precaution to avoid fraud, but not very convenient for honest miners. We have purchased about 100 GHS of GHS 2.0 Bitcoin cloud mining hashrate a few days ago to check out the service and so far everything seems to run smoothly and problem free. Interestingly enough with just about 100 GHS of hashrate the website ranks us in the top 150 users in terms of purchased hashrate from the 230K in total.
However difficulty changes and bitcoin halving can essentially kill the business of Eobot in the future due to the maintenance fee structure unless they keep upgrading the hardware system in a higher pace.
Beside bitcoin, Eobot also accepts payments made by VISA, Mastercard, American Express, Discover and JCB cards.
EOBOT USER EXPERIENCE
Eobot.com is a very simple website. No fancy images or buttons, animations. The creators of the site concentrated on providing information only. Although the platform is available only in English, they offer to translate the webpage through Google Translate.
Eobot is trying to support their customers as much they could. The FAQ sections has a friendly, sarcastic tone tough. Clients can use the contact form or send emails directly to Support team. They are also running a free hotline number to answer user queries.
Eobot clearly articulates in the FAQ section that cloud mining should be done just for fun, as a recreational activity, not to generate income. A table on the landing page is showing the break even points for each altcoins mined, but the difficulty is not tuned into the calculation. The site does not intend to mislead the clients as they take note of this below the table, the could mining company still represent a medium fraud risk due to the lack of information on their site.
OVERALL CONCLUSION
Although Eobot is in the cloud mining business since almost the beginning, their service is more expensive than the market average due to the high maintenance fees. Apart from that the lack of information on the owners can be suspicious for future clients. On the other hand however the side project, of Cloud Seti and Cloud Folding is an interesting charitable use case of the mining activity.
PROS
- Interesting side projects Cloud SETI and Medical Researches.
- Immediate payouts.
- Android and iOS apps
CONS
- High Maintenance fees.
- Basic website.
- No information about the owners.
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