Frequently Asked Questions

Syntropy Cloud Mining

What is the expected rate of return on a mining contract?

We cannot project the rate of return but there are coins being mined daily coming from the mining servers.

How often do I get paid from the mining contract.

When the total value of the coins that are mined is above .1 total value of bitcoin, then the coins can be converted into a new contract or the coins can be sold into bitcoin and be paid out to your wallet.

Is a mining contract an investment?

A mining contract is NOT an investment but a purchase of a cloud-based server that is programmed to have specific master node mine coins on your behalf. Purchasing a mining contract pays for the server equipment, the servicing of the equipment and the maintenance of the mining operations for a period of three years.

This is NOT an investment, but a purchase lease of mining equipment and the return is paid on a pro-rate of the return of the coins that are generated from the mining operation, there is no guarantee on the amount of coins generated or the increase or decrease in value of the coins that are mined from the mining servers.

How soon will I see coins been mined in my mining back office Explorer?

It takes approximately one - two weeks to build a master mining block and the master node and servers before mining coin’s will begin. When you purchase a mining contract with bitcoin your back office will show a pending status until the master node is complete and ready to begin mining coins daily. Status tracking is being developed and will be announced very soon.

Can Syntropy mining platform potentially pay better returns than traditional Proof of Work (PoW) Bitcoin mining?

Syntropy mining cannot guarantee or project returns, however it is Syntropy’s philosophy that using a Proof of Stake mining platform and searching for the best new coins released, do pay higher than average mining payouts. Adding coins that are mined daily through the master node creates a better long-term return because of the coins value and the ability to diversify with numerous coins instead of just one coin being mined.

Will I get to choose the coins that are being mined?

Yes, the coins mined are chosen by you.

Will I get to choose which coin to participate in when I purchase my block(s)?

Yes, Syntropy will have at least three coins to choose from for your purchase.

Is it possible to re-purchase a mining contract with my profits?

Yes, if you have the minimum purchase amount (0.05 BTC) to re-enter a new block you can roll over your profits continuously into new mining blocks.

How often are payouts available from my mining profits, if I need liquidity?

Payout request are processed on the 28th of each month, and BTC funds are available for external wallet transfers on the 1st day of each month. After the 90 day waiting period from the date of when mining begins.

Is there a minimum amount required for requesting a payout of my mining profits?

Yes, the required amount of BTC to process a mining profit payout is 0.05 BTC.

Is there a fee for requesting a payout from my mining profits?

Yes, there is a fee per payout request, for liquidation of coins and exchange fee for converting mined coins to Bitcoin, this transaction fee is 5% of the requested payout amount.

Will my payout of mining profits effect my future earnings of the mining blocks I’m still in?

Yes, by not re-purchasing new mining blocks with your profits and taking those profits in the form of payouts, you will not see a multiplication of growth in your earnings from those new blocks that could have been purchased. Your percentage of ownership in that Master Block will be reduced as well.

Is it possible to let my mining account value grow without taking a payout or repurchasing a mining block?

Yes, that is one of the three options you have, you can let your coin value grow within your internal wallet until decide to liquidate and take a payout.

When is the price of my Block(s) purchased locked in based on the crypto (Bitcoin, Ethereum, DebitCoin, etc…) I’m using to make the purchase?

The moment the transaction comes into our system and is paid through is when you become a customer, that’s when the rate is locked in.

Proof of Work VS Proof of Stake

Proof of Work and Proof of Stake are two different types of computer algorithms that are used to derive value from cryptocurrencies such as Bitcoin and Ethereum.

Syntropy Cloud Mining is the first cryptocurrency mining platform to utilize Proof of Stake consensus methods. That sounds interesting but what does it mean?

This video provides a simplified explanation of the two methods to help you understand the mechanisms that drive digital currencies.

Learn More About Cloud Mining