FAQ

1BITUP is a digital assets cloud mining service that offers an easy and safe way to purchase hashpower without having to deal with hardware and software setup. We provide hashrate services and a variety of mining related solutions to small and large scale customers

It’s very easy! As soon as you shall pass KYC/AML procedure you can pay your contract and it will be added to your profile, and you can immediately start mining. Depending on the blockchain algorithm you select, you can mine native digital assets. The rewards are processed every day the following 24 hours after the mining day is over.

We mine for us and for our clients. It’s is the best way to receive rewards in blockchain industry

For security reasons we do not disclosure the location of our farm.

We use best available pools for the mining process. Criteria used for pool selection is: reliability, low fees and rate of rejection.

To buy hashrate you need to verify your account.To complete the verification you will need government issued documents, such as an ID, a passport or a driver’s licence, as well as a photo from yourself. Verification of customers' identities is executed to prevent fraud and money laundering, as well as comply with International Laws. In case your country or residence is not listed as approved for passing KYC/AML procedures, then you are not allowed to use 1BitUp services. We do not store your personal data but we cooperate with first class services provider so all the information is kept in secret and stored safely.

We do not control the market evolution and we cannot control the mining rewards. There are different factors which may influence your rewards depending on the contract you have selected. It may happen that due to the lower mining output, the global interest in mining the coin of your contract diminishes. This would lead to a decrease in the mining difficulty, which would also have a positive impact increasing your mining outputs. Conversely, if difficulty rises, your output will decrease. Also keep in mind that some of our products might have maintenance fees attached.

Most digital assets utilize different proof-of-work algorithms to secure their blockchains. Bitcoin - SHA256

Once you choose which coin you want to mine, you can submit your order: you need to complete the KYC/AML procedure, go to the BUY HASHPOWER section in your 1BitUp account, select your hashrate, you will be redirected to the payment menu. After payment, your order should show as approved in your 1BitUp account. If this is not the case, please contact customer service through our web form or through the Contact Customer Service section of your account.

The cost is a one-off payment. In addition, some of our products mighthave a daily maintenance fee, which is deducted from the daily mining rewards. You will find the details about upfront costs and fees in the Terms of Service of your contract.

No refunds are accepted

We only allow 30 minutes for the payment in cryptocurrencies to reach our wallet. After this period, the order will be pending in your wallet for two days .

You can use calculators as a performance estimation. The results of rewards depends on the price and the network difficulties. Neither of those can be predicted, so each customer must make an independent decision about the benefits of cryptocurrency mining and, in doing so, should consider the risks and their own circumstance when choosing whether to mine.

Such fee may include: Electricity costs, hosting, technical costs, cooling. Our services do not charge additional maintenance fees.

Credit card Payment . BTC, ETH. Credit card payments may have additional processing costs.

Wallet address shall be required during the setting process. Important: Remember that you have to add a wallet for each coin selected in the “Mining Allocation” section

A mining day usually starts at 00.00 UTC and ends at 23.59.59 UTC and mine for 24 hours. Some part of the process is done automatically and some even manually. All of our mining outputs are daily and automatic, but the actual transfer to your wallet takes place when the balance reaches the minimum amount required for transfer. In the meantime, you can see your accumulated mining outputs on your account under “Activity – My pending balance of mining outputs

A mining day usually starts at 00.00 UTC and ends at 23.59.59 UTC and mine for 24 hours. Some part of the process is done automatically and some even manually. All of our mining outputs are daily and automatic, but the actual transfer to your wallet takes place when the balance reaches the minimum amount required for transfer. In the meantime, you can see your accumulated mining outputs in the Dashboard.

For your security, we allow e-mail address modifications after following an KYC identification procedure. Please contact our customer service team via ticket for further information.

We do not offer a wallet service as of yet, so you can use external services for those purposes. After you set up your address, keep in mind that sometimes it can take up to 48 hours for the change to take effect.

To create a 1BITUP account, simply click on SIGN UP, enter your e-mail address and a secure password, and repeat the chosen password. Read and agree to the Privacy Policy by checking the box. *In case you did not receive a verification e-mail, please also check your Junk/Spam folder. If you cannot find the e-mail in any of the folders, please go to the 1BitUp menu to select ‘Resend verification e-mail‘.

If you have decided that you want to delete your account please contact our customer service using your primary e-mail address.

As soon we send out the coins, the transaction is within the blockchain waiting for confirmation. We can assure we send out the transactions with the proper fees but sometimes there are some delays in the blockchain. Unfortunately, we cannot accelerate this process from our end. Please keep in mind that some wallets only show the transactions once a certain number of blockchain confirmations have been reached.

Payments for mining shall be sent automatically to your wallet as soon the minimal amount of units shall be reached. Also clients can use the manually withdrawal of the rewards.

We may provide volume discounts for plans above 3 months. Volume discount are usually given for volumes above 25THs. Follow the updates to find news about our plans!

Halving refers to an event in blockchain networks, notably in Bitcoin and some other digital assets, where the rewards given to miners for validating transactions are reduced by half. In such a way, each 4 years the rewards for our hashing plan shall reduce by half. We always consider such circumstances when offering our services and settle our plans to minimise the impact of halving to our users. Next halving is approximate May 2024.

The calculation of the profitability of cloud mining is necessary to see the potential future profitability of hashrate plans and determine the profitability of your investments. The users of the 1BitUp services must calculate in advance the profitability of cloud mining, taking into account the current market situation, the cost of services and the other aspects of the relevant formula.NOTE: The Btc halving is not accounted by the app.