Cex.io Review

 

First of all, thanks for dropping by. My name is Frankenmint and I frequent the Bitcointalk community.  One day, maybe 6 weeks ago at this point, I was on there and clicked on a banner for Cex.io, and learned about their service.  If you have bitcoins to spare that are sitting around, you can convert them into instant hashpower.  What is hashpower?  Hashpower is computer processing which is utilized to mine for brand new bitcoins.  While there is a fixed amount of bitcoins available, miners have been cashing in, learning on this new service provided, while waiting for arrival of hardware.  Cex.io works great because as I said it provides instant hashpower to mine on the spot.

Where does this hashpower come from?  There is a large private pool named Ghash.io that utilizes Bitfury chips and hardware.  This pool has remained private for a while, and before Cex.io, the only way to gain entry to this private pool, you had to bring 100 Gigahash or more to this pool to mine with.  They are a large share of the hashpower, looking to be roughly 21 % by today’s statistics:

[Image was lost to old hosting provider, SORRY 😢 | Dec – 2nd – 2015]

 

By controlling a larger amount of network hashpower, there is a higher chance of receiving awarded blocks consistently.  Imagine that pools are like a giant solo operation facing one another. This is why it makes sense to do pool mining to begin with if having hashpower because there may be Terrahashes worth of mining power that you would need to compete with to gain bitcoins.

I recommend Cex.io often because it is easy to use and allows you to buy hashpower (in Gigahashes) instantly. The other main advantage is that there is a high resale value of the hashpower purchased between users such that you may be able to purchase mining power for a few days, and then be able to sell off your hashpower within days, before the next difficulty jump.  It allows a casual bitcoin holder to get in and earn extra bitcent with their holdings, like a savings account!  Not only was I able to change 1 bitcoin into 2.6 bitcoins, but I was able to exit out immediately without any investment into supporting hardware such as power supplies or fans, nor did I need to spend time setting up my hardware, didn’t need to pay for electricity, and wasn’t discomforted by the heat disrupting my residence!

Their service is also secure because it contains email confirmations for withdrawals and can also be configured to utilize 2 factor authentication for secure access.  Its possible to buy hashpower in fractional increments, and placing your hashpower into a sell order allows you to still earn bitcoins mined while waiting for a buyer.  Right now there are no fees to buy nor sell so I strongly recommend to check out Cex.io and start having your bitcoins work for you!