If we look past the elaborate company definition found on their site, we can define OXBTC as a hybrid between cloud mining and deposit investment platforms.
While the company's offer is more than appealing, their overlapping similarities with Halleybtc and direct ties with ZeusHash raise a number of red flags. Read our OXBTC review to find out whether this company deserves your attention.
About The Company
OXBTC was (officially) founded in 2016 by several highly influential Chinese investors. They currently feature 3 mining farms in Ordos, Mongolia, and Sichuan, with numerous partners contributing to their global mining network. Their website denotes ZeusHash as the official partner of the company, raising our concerns even higher. In case you don’t remember, ZeusHash shut down their cloud mining service at some point, leaving users with significant losses.
OXBTC is basically a mixture of ZeusHash and Hallybtc, with the same crew of people involved. The services offered by OXBTC and Hallybtc are quite similar, with their “About” pages sharing quite a bit of straight copy/paste material. If you take a look at the “News” tab, you’ll see the archives starting from February 2016.
The company successfully merged numerous cloud hashing sites in the recent past, which enabled them to utilize the aforementioned global mining network. They also developed a huge and steady user base. This setup allowed them to increase their hashing capacity, currently capped at 5.6 PH/s.
How OXBTC Works
OXBTC offers cloud hash power trading and Bitcoin deposit investing. The pool of qualified users includes individuals, companies, and other organizations. Note that, once registered, your username cannot be changed at some later point in the future.
For any doubts and questions, you can contact their customer support via e-mail or phone. We’ll elaborate further on the two essential branches behind the company’s portfolio:
Investment products – After the registration, you can locate the funding address within your wallet. The system processes funding 24/7 and it’ll take between 10 minutes and 2 hours to receive confirmation from the Bitcoin network.
Withdrawal is also available 24/7 and BTC is promptly transferred to your wallet, except with larger amounts that need to be manually reviewed for safety purposes. The interest is settled at 24:00 on a daily basis. According to the website, the interest is also compounded on a daily level, at 24:00.
Note that your OXBTC assets include current, fixed, and bonus deposits. Current/fixed deposits can generally be withdrawn anytime, with bonus deposits not being eligible for withdrawal at all. Bonus deposits become invalid after the bonus period has expired.
The interest calculation begins the very next day from the moment of your deposit and it will be allocated to your account on the third day at 00:00. There is no bar for minimum deposit/withdrawal, but make sure to withdraw more than 0.0001 BTC and 0.001 LTC, as those amounts will be deducted as Internet transaction fees.
Cloud Hash Trading – As with all other similar corporate endeavors, the more hashing power you purchase, the bigger your overall ROI will be. The whole process starts with you placing an order with OXBTC and specifying the amount of required cloud hashrate. OXBTC will then locate the network node nearest to you and allocate the hashing power from their mining farms directly to your account. The viable payment methods include BTC and LTC or your standing deposits with OXBTC.
OXBTC currently offers cloud mining services for BTC, ETH, LTC, and ZEC. They’ve also reserved the possibility of introducing new cryptocurrencies into their cloud mining offer. The minimum purchase/sell amount of hashpower currently stands at 1 GH/s and 0.1 MH/s.
OXBTC is definitely one of the most versatile companies we’ve seen during our long venture into the world of cryptocurrency. These are some of the most prominent features that caught our eye during the initial investigation:
- Low prices and fees – The company (allegedly) owns 3 mining farms in areas with low electricity cost, so they can offer ridiculously low electricity and maintenance fees. The company recently lowered some of its prices, further solidifying its position as one of the budget-friendliest options on the market.
- Double service – OXBTC offers both cloud mining and Bitcoin investment services.
- High ROI – Deposit investments bring a very easy-to-predict profit. The expected yearly ROI for a 30-day contract is currently 8.5%.
- Wide global network – Once you’ve placed your order, OXBTC will tap into its widespread network of mining nodes and find the one closest to you, securing you optimal ROI potential.
- Cutting-edge mining facilities – If the pictures on the site are real, OXBTC management has a pretty impressive mining “armada” at its disposal. However, we don’t like the fact that the company address and the type of mining rigs still remain unspecified.
Plans & Pricing
As we already established in this OXBTC review, OXBTC offers two main services, cloud mining and Bitcoin deposit investing. We’ll quickly glance over the fees connected to these services. Note that the fees are formatted as “floating,” which means they can be changed (slightly, though) at any given time.
OXBTC did a pricing overhaul in March this year and these were the changes made regarding interest rates of deposit contracts:
- Current deposit interest rate was adjusted from 0.001% to 0 (cancel the standing deposit contract);
- Fixed deposit interest rate was adjusted from 8.5% APY to 5$ APY;
- Fixed deposits still got 8.5% APY during the duration of the contract period.
Here is the current outline applied to cloud hash hosting:
- Management fee was reduced from 10% to 5% of your overall mining profit
The price tags that remain unchanged go as follows:
- Bitcoin cloud mining – 0.099$ per GH/s
- Litecoin mining – 13$ per MH/s
- Ethereum mining – 16$ per MH/s
- Zcash mining – 1.6$ per H/s
On top of the already listed fees, OXBTC also charges maintenance fees of 0.0009$ per GH/s (Bitcoin) and 0.02$ per MH/s (Litecoin). Maintenance fees usually get updated as more efficient miners join the respective mining pool.
The electricity fees with OXBTC are boasted as the lowest on the market and the tags are:
Compared to Hallybtc, OXBTC offers greater risks, but also the possibility of a much higher ROI. The cloud mining contracts are offered in 30-day (BTC), 1-year (ETH) or permanent (Zcash) instances.
Current deposits offer a 0.02% daily interest rate while 30-day deposits bring 15% APY. You also have the option of converting fixed to current deposits and vice versa at any time.
- Cloud mining service, plus Bitcoin deposit investments
- Possibility of trading hashpower
- Relatively low maintenance, management & electricity fees
- Daily payouts
- No minimum amount set for deposit/withdrawal
- Daily compounded interest
- Shady relation with ZeusHash
- The website was susceptible to DDoS attacks in the past
- Payment methods limited to BTC and LTC
- Chaotic website