Scrypt CC Review
Scrypt.cc Has Been in Business for 10 Months Now (as of November, 2014)
Scrypt.cc is one scrypt cloud mining service that has been around since January 2014.
10 months is OLD in the world of cryptocurrency cloud mining which only began in 2013 and where new services are still emerging every month or so in both scrypt and SHA256.
So, how is Scrypt.cc? Here's our review. Please note that we've logged in to Scrypt.cc but haven't put in any money (you'll see why below).
Hash Rate Trading Feature and Frequent Payouts Are Attractive
Scrypt.cc offers attractive features such as frequent payouts (every 10 minutes) and trading your hash rate at any time.
We find the option to trade your hash rate at any time particularly attractive.
Not all cloud mining companies offer this feature. For example, Litecoin GEAR and GAW Miners offers trading of hash rates but Genesis Mining and ZeusHash do not as of today (November 12th, 2014).
Being able to sell your hash rate creates more liquidity in the market and reduces the risk of buyers.
But Total Hash Rate Being Sold on Scrypt.cc is Only 274 MH/s
Although the feature to buy and sell hash rate with no trading fees (GAW, for example, charges 5% in trading fees) is attractive, the hash rate being traded is still small.
The total amount of 'Sell' orders at the time of this writing (November 12th, 2014) is 274,102 KH/s. Converted to MH/s, this is only about 274 MH/s.
$20/MH/s is Expensive & Break Even Estimate is Probably Not 230 Days
The price per MH/s is the weakest part of Scrypt.cc.
At 1BTC=$365, 1,000 KH/s or 1 MH/s is selling for 0.0566 BTC or $20.66.
Compare this to the price of other cloud mining providers such as
- Genesis Mining : $17.99 for 1MH/s (and $14.99 for over 100 MH/s)
- GAW Miners : $10.95 for 1 MH/s at CleverMining
- ZeusHash : $15.99 for 0.1-99 MH/s (and $14.99 for over 100 MH/s)
It's clear that Scrypt.cc's price per MH/s is significantly MORE EXPENSIVE than the competitions'.
Although the break even estimate states 230 days, it's likely that the calculation is not considering rising levels in Litecoin difficulty, and we would not be surprised at all if 100% ROI (break even point) is never reached at the current price of $20.66/MH/s.
Scrypt.cc Review : Scrypt.cc Was a Great Choice BEFORE GAW, ZeusHash, and Genesis Came In
Our conclusion is that although Scrypt.cc was in the scrypt cloud mining scene early and held a competitive advantage then (mostly by being there), we got the impression that it has fallen behind in the new scrypt cloud mining landscape after new companies started entering this field and raised service standards through competition.
In our view, GAW, ZeusHash, and Genesis Mining were latecomers (compared to Scrypt.cc) but are doing a better job with
-website design and usability
-price per MH/s
-communication levels and transparency
compared to Scrypt.cc.
If Scrypt.cc were to become competitive again, we believe that it would need to work on its services so it can stand out again among all the scrypt cloud mining companies that are improving by the day.