BW Review

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BW Cloud Mining Review

In this Bw cloud mining review, we go over the Bw platform in terms of its cloud mining service attractiveness. We investigate available contracts and details that accompany them, in terms of plan pricing, maintenance fees, security, and reputation.

Combined with industry data, the article aims to produce accurate profit/loss analysis, providing you with current ROI and profit rate. We conclude with general remarks about the platform, comparing it with cloud mining industry giants, Genesis Mining and Hashflare.

About BW Cloud Mining

Bw cloud mining company is a bit more transparent when it comes to its ownership. Co-founded by LK Group Ltd. and CHBTC.com in 2014, platform has an aim to provide top-class mining contracts. Apart from regular mining services, cloud mining is also part of the portfolio, with several cryptocurrencies being available.

The platform is yet another Chinese mining service provider, with headquarters located in Shenzhen, China. Thus, business is registered legal entity within the Chinese borders, much like HalleyBTC.

Its customer service offers somewhat short FAQ but has several channels of direct communication. These include email and phone number hotline which you can call up at any time of the day. Beware that agents answering calls might not know English, meaning that email would be the safest thing to do.

Available Programs

Bw offers several cloud mining contracts, including cryptocurrencies like bitcoin, Ethereum, and Litecoin. Much like OXbtc, Ow platform offers two marketplaces for cloud mining programs. One is a peer-to-peer marketplace, where you can post your own hash power or buy it from miners.

As a buyer, you do not pay any sort of fees while sellers are charged 0.2% of their offer. The marketplace has record history, showing the frequency and recent offer s in the market to assist you. In the picture below, you can check out the P2P platform.

BW cloud mining available programs

As for another platform, you can purchase hash power directly from the company using three afore-mentioned coins. There are four programs to choose from, them being B19, B16, B12, and B11. These plans differ in terms of unit price, maintenance fee, and electricity costs. They also differ by service providers, as a third party carries out the B19 contract, for example. You can check out the B19 contract in the image below.

BW cloud mining B19 contract

These are practically different mining pools, each with their own set of program offers. You can use our calculator from profitability analysis section to try out different contracts and benchmark them against each other.

Fees and Payment Methods

All contracts regarding cloud mining are expressed in cryptocurrency value. This means that fiat money is not available for deposit or withdrawal. Credit cards or bank accounts are not accepted even though fees and revenues are calculated in Chinese domestic currency, CNY. All you need is cryptos wallet address to transfer and take out funds from Bw platform.

As with all other cryptocurrency platforms, depositing and withdrawing coins come with miner fees. These costs are held by the company only to be transferred back to the blockchain automatically. They are then rewarded back to miners as part of the order batch.

Profitability Analysis

In this guide, we use details from the B19 contract, taking into account current mining difficulty and bitcoin price. The results suggest not exactly the most profitable operation out there but certainly positive one.

 

Bw

  
 

BTC

Hash power

1 TH/s

Program Cost (Coin)

 

Program Cost (USD)

$125,00

Maintenance Fee (day)

$0,19

 

 

Daily Payouts (Coin)

0,00007262

Daily Payouts (USD – daily)

$0,62

  

Daily Profit

$0,43

  

ROI (days)

293

Due to the low electricity costs (and no maintenance fees), you can get your money back within a year. The ROI for the particular year stands at 24.8%, though this result takes current BTC mining difficulty and price. What makes this investment a good opportunity, is the fact that even with higher difficulty, you will still make money out of it.

When compared to Genesis Mining and Hashflare, Bw definitely has an upper hand. Hashflare, with increased difficulty, goes between 5% -8% of ROI, a slightly lower result than Genesis Mining. The result we have gotten with our calculation per 1 TH/s stands the same even with higher hash power. The difference is you will earn more volumes of coins in the long run.

 

Additional Services

Apart from cloud mining services, you also have real mining pools if you have the right equipment in your possession. These pools are the main income for the company. Bw platform organizes these pools mainly for Chinese individuals and organizations, though foreign customers have access as well.

You also have the ability to purchase mining equipment directly from the company, much like Antminer from Bitman. These cards range in price, from $100 to $2.200, with price tag expressed in CNY.

Security

Bw also comes on top over Genesis Mining and Hashflare in terms of security tools available. Users have the ability to enable several codes for their account protection, them being:

– two-factor authentication (2FA) with Google Authenticator

– security password

– transaction codes (security password and SMS/email verification code combined)

We see transaction code as a very interesting combination, as it takes several factors of verification for transfer to take place. The company also keeps coins in cold storage, protecting its platform and customers from hacking attempts so far.

BW Reputation

Bw is one of those rare examples of positive reviews in the cloud mining industry, Moist of the commentators trust the platform due to its mining pools and equipment available for sale. The company has been operating since 2014 and holds almost 7% of the entire bitcoin’s mining volume.

Thus, cloud mining service is trusted, though some do question the service itself when actual mining provides larger yields.

Conclusion

In this Bw cloud mining review, we went over the platform’s ability to provide profitable cloud mining services. Since its start, the company offers large mining pools for its customers, cloud mining included. Due to the low maintenance costs, contracts at Bw provide 24.8% ROI on invested funds. Due to the company holding 7% of current mining capabilities, supply is not in question.

Moreover, platform enjoys positive reviews, mainly due to its large mining pools and mining capabilities.

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