Frequently Asked Questions
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1What is hardware hosted mining?
Since all Bitcoin has to be mined through hardware, hosted hardware mining is the hosting of the expensive and complex infrastructure on your behalf. You can access the most powerful and efficient industrial Bitcoin mining hardware and software without the extraneous stress and expenses.
2Where do my rewards come from?
As we use hash power to mine and validate transactions on the Bitcoin network, we are rewarded for our activity through new coins and transaction fees. All Bitcoins mined will be divided and sent to contract holders according to the contract hash rate.
3Is mining better than buying Bitcoin?
At the current Bitcoin to USD exchange rate, it’s more profitable to mine Bitcoin as opposed to buying it today. With just one payment, you will be receiving Bitcoin payouts to satisfy the lower maintenance fee, which can be 5, 10, or 20-years – there is limitless potential. You can receive 2x, 3x, or 10x more Bitcoin than buying the coins flat outright.
4Why shouldn’t I just host the hardware myself?
With more people mining than ever before today, mining Bitcoin has become complex and hard to tackle. Taking on the industry alone, you will not be able to compete with the other infrastructure out in the field. Through us, gain access to powerful equipment, cheaper electricity costs, and expertise in the cryptocurrency market.
5What is the VBit Referral Program earning potential?
The sky’s the limit! Our Referral Bonus Program provides multiple bonus tiers, including residual bonuses for your efforts. To learn more, visit our Referral Bonus Program Page.
6How do I create my contract?
View our packages, click the one with the right hash rate, and follow the prompts to sign up with our platform. When you buy a package, you are automatically enrolled in our Referral Bonus Program.
7What is a Lifetime Open-Ended contract?
When you purchase a package, you gain access to ASIC chips performing at the hash rate you desire. You will receive the appropriate rewards for your hash rate, according to mining difficulty, the Bitcoin to USD exchange rate, and the maintenance fee. Although we can’t control the first two factors, we can ensure impeccable mining conditions on behalf of your account. Whether the payout lasts 3-years or 50-years, you can elect to have your ASIC chis shipped to you at any time.
8Are there any hidden fees?
All customers are eligible for up to 3 years of free maintenance fees. After this period, we charge a small maintenance fee of $0.00015/GH per day, which is fixed in USD.
9What can I make with Bitcoin mining?
As with every investment, we can’t verify exactly how much will be made through Bitcoin minding. However, there is a Bitcoin mining calculator you can use, inputting the necessary variables to come to your valuation conclusion.
10Where do I receive the payouts?
Once mining operations commence, you will receive a daily payout of your mined Bitcoins. Immediate payouts are provided contingent on Referral Bonus Program success as well.