Hash Exchange is web service for trading bitcoin mining contracts, that was started in February 2014. It offers to buy or to sell mining contracts for bitcoins only: here is no other currencies. Everyone, who confirms the ownership of some bitcoin address with the digital signature, can instantly buy or sell chosen amount of Gh/s for chosen period of time.
Mission of the service
Create effective marketplace for trading bitcoin mining to enhance contracts liquidity.
There may be several reasons for using this service:
Investments in the process of bitcoin mining. For someone, who plans to participate in mining, this is better alternative, than purchasing of equipment and looking for appropriate place for it.
Risks mitigation. For manufacturers of mining equipment this is the way to know for sure how much revenue they will get, to effectively plan for the development and production. For someone, who already have mining equipment and plans to exit from mining business, this is the fastest and the easiest way to get rid of its risks.
Speculative activity. Someone who believes, that he knows future mining rates better, than other traders, may try to use his knowledge to get profit.
Trading framework and policy of the service
- All accounting and payments are made in bitcoins (BTC). The service doesn't use other currencies.
- Customers of the service have the opportunity to close (repudiate) all contracts before time and to withdraw remaining sums from accounts.
- To open an account each customer must have bitcoin address, ownership of which he can confirm by the digital signature. Withdrawals from the account will be made only to this address. The service doesn't ask any other identities: neither real name, nor real email.
- Customer's personal section of the site contains complete information about his balance, transactions, contracts and amounts of mined bitcoins.
- Everyone can try using the service, opening trial account, which is completely functional, except unreal incoming and outgoing BTC transfers.
- The service reserves the rights to close customer's contracts before time, when the customer exceeds defined level of risk.
- When contract closes, its residual value is refunded in accordance with current estimation of mining rates. Closing of the contract for purchased mining is equivalent to selling the mining, and vice versa: closing of the contract for sold mining is equivalent to purchasing the mining.