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1.2 out of 5 based on 9 reviews.Overall rating:
|Hash Algorithm||SHA-256, Scrypt, ETHASH, ZCASH, Pos|
|Coins||Bitcoin (BTC) LiteCoin (LTC) Ethereum (ETH) DASH (DASH)|
- Low fees
- Sell-back option of mining contracts
- High paying referral program
- Lot's of negative feedback in the network
- Lack of information on the company
- No social media presence
- Clients are unable to select mining pools
In today’s cryptocurrency market it is absolutely impossible to earn cash without having powerful equipment. However, there are cloud services that attract potential miners by providing them with an alternative option. TeraBox is another website that frees users from the restrictions connected with getting expensive and energy-consuming mining hardware.
TeraBox is a widely-used resource that offers cloud mining opportunities since 2014. Relying on the photos located on their website, TeraBox has a large server room with a mining farm. However, those pictures are not too detailed to say what kind of equipment they own. Also, there is no comprehensible information about the company’s owners and location. Considering the fact that the level of distrust at the cryptocurrency market is sky high, it looks a bit suspicious.
Mining at TeraBox starts right after you create an account and buy hashpower. Later, earnings can be kept on a personal account or invested in the further investments into hashpower if you want to continue cooperation with this website. The longest contract you can establish with this company will last for five years. Also, one can sell back a mining contract to the company.
The website provides users with real time mining results, so clients can be aware of their earnings all the time. On the other hand, users have no pool selecting option. TeraBox claims that their powerful equipment chooses the most profitable mining pools on its own, so customers don’t have to worry about that.
Pros and cons
The positive features of this service are:
- Referral program brings clients 10% share from the purchased hashpower, which is pretty much in comparison with other websites
- Users are always aware of their mining results
- Transparent pricing
- An opportunity to sell your contract back to the company
The negative sides of TeraBox are:
- There is no exact information about the company
- They only accept bitcoins as a payment and no other options (bank cards, PayPal, etc) are available
- No opportunity for customers to select mining pools on their own
Profitable special features, referral program and transparency make TeraBox popular among customers. However, an absence of basic information about the owners make this resource a bit suspicious especially for the newcomers.