So, that is the big question with the latest cloud mining website Crypterra, and one that nobody really knows the answer to.
Started in 2017, Crypterra is offering some outrageous deals on cloud mining, right now. Their Xmas Sale which is going on until January 30, is an additional 20-30% off of their already low prices seems to be the go to for many. You can check it out along with their custom contracts here https://crypterra.net/?code=CR11842 I decided to go smaller just to test the waters. Let's just say things did not go smooth for me at first, but they are continuing to look up as each day passes.
I had about $300 of Litecoin in my Coinbase account. If you do not know what Coinbase is, you can visit my link https://www.coinbase.com/join/5a200da89dd75f00f9e34ec1 and if you deposit $100 we will each get an extra $10 in Bitcoin. Anyway, the $300 was mostly profit from when the price spiked in early December, so I chose to purchase 490 H/s contract of Zcash for 2 years. The price at the time was a little over $310, but I had a coupon code(Happy2018) for 10% off, which brought the final cost to about $283. I submitted my Litecoin payment to Crypterra and waited for the 6 confirmations. After the 6 confirmations cleared, I continued to wait for my hashpower to be activated on Crypterra, but that never happened. The next day I submitted a support ticket from their site and again waited for some kind of response or activation of my hashpower. Still nothing. This is when I started to get a little worried and began to research if anyone else was having the same issue. Low and behold, there were people tweeting, Reddit posts, YouTube videos, and even a Facebook group page that was setup where many people experience the same issue. Several days went by, and myself and others had still not received their hashpower, but someone on the Facebook group figured out that if you sent a very small amount(a few cents) of Litecoin or Bitcoin to the original address you submitted your payment to, that some people where able to have their hashpower released. I tired this trick a couple times, but again did not have any luck. A couple more days passed, still no response to my support ticket and no update from Crypterra on their Twitter, but I did notice when I logged into Crypterra's site, that there was a new banner posted(seen below) that asked people that were having issue with their hashrate not being applied to fill out a form(also seen below).
I filled out the form, and again waited for my hashrate. A day went by and I started seeing posts on the Facebook group page that people were finally getting their hashrate after filling out the form, but I still had not received mine. Another day passed and I woke up to a surprise of seeing Zcash being mined. Hooray, first hurdle jumped!!! Next will be if I am able to make a withdrawal, which also looks promising based on people posting on the Facebook group about successful withdrawals(albeit they apparently do batch and they are slow). You can see proof of my active mining below.
As each day passes, I am beginning to feel a little more comfortable with my decision to try Crypterra out. New miners are not having any problems with their hashrate purchases now. It appears that many of the issues are being attributed to them being a small operation, and getting a very big rush of people all at once. They recently updated their Twitter with the below Tweet, which is promising as well.
So is Crypterra a scam? All I can say is that if they are, they are really bad at it.
Disclaimer - No advice is given with this post. Please make informed decisions and do not risk any money that you can not afford to lose.