Have a questions?

Here's our Frequently Asked Questions

  • Who are the experts?

    We carefully choose our expert Miners by assessing their track record, performance history, risk management skills, and ability to consistently make successful trades. Miners who have a solid understanding of the market, can effectively handle risks, and have a proven track record of profitable trades. Also we pick Miners who can consistently deliver results and resonate with the company's objectives and principles.

    For example, you might want to have a look at coinwarz.com. Remember that some of our products have a daily maintenance fee which must be deducted from the daily Mining rewards.

    Please note that the website is an independent source of reference and not related to Universal Miners Options in any manner.

  • What is the recommended amount to start with?

    We suggest to have around $300-$5000 in your account in BTC value due to exchanges minimum order requirements and so that you can at least cover the subscription cost every month.

    Once you’ve taken care of the above, you are all set. There are no codes that you need to run or signals for you to manually input. Our software will handle the trade copying automatically on your behalf. We monitor your experts Mining activity and as soon as there is a trade, we calculate all the necessary parameters and execute the trade.

    The copier works based on trade percent amount. So, for example, if your expert takes a position in XYZ coin for a total of 10% of his account value and you are 100% allocated to that expert, then the copier will also execute a trade in your account in the amount of 10% of your account value.

    The only thing you have to make sure of is that you have enough available base currency that your expert trades with, in your Mining account. How much is enough? First, you must meet the exchanges minimum order amount (let’s say about $10 per trade to be safe). That means that if your expert executes a 5% order, you must have at least $30 in your account total value (at 100% expert allocation as an example). This also means that you need to have at least 10% or higher in available base currency to avoid missed trades.

    When the expert exits a position, you too will exit it. Automatically. You can also change allocation at any time.

  • How does this work?

    Here is how the copier works: You, as an investor, simply select an expert or experts that you want to copy trades from. Once you are signed up, this is the only action needed on your part.

  • What are the fees?

    We do not charge you any fee for setup rather each Miner gets a 30% commission of the profit they make. Do ensure you are aware of this before placing any trade.

  • How does Bitcoin mining work with Universal Miners Options?

    It’s quick and very easy! As soon as we receive your payment your contract will be added to your profile, and you can immediately start mining. Depending on the blockchain algorithm you select and the associated mining service agreement you enter into, you can either mine native cryptocurrencies directly or allocate your hashpower to other cryptocurrencies (marked with AUTO), and even choose a specific allocation for them. For example: 60% LTC, 20% BTC and 20% DOGE. The first mining output is released after 48 hours, and then a daily mining output will follow.

  • Are you mining for yourself?

    Besides the fact that we ourselves mine with the very same hardware that we offer to our clients, our capital is limited. We believe that Bitcoin and Altcoin mining is one of the best ways to receive Cryptocurrencies, however, we do not want to “put all our eggs in one basket”.

  • Where is your mining farm located?

    For security reasons, we do not disclose the exact location of our mining farms. As of April 2015, we are operating several mining farms that are located in Europe, America and Asia. Electricity cost and availability of cooling are important, but not the only criteria. See our Datacenters page for more information.

  • What coins I mine with each algorithm?

    You are able to mine Bitcoin and various altcoins directly via our mining allocation page*. The availability of cryptocurrencies you can mine depends on the contract you have chosen.

    You must allocate your hashpower in order to determine the cryptocurrency received for your mining output. If no allocation has been made, the mining output will default to the following for the given blockchain algorithm:

    SHA-256 contract - Bitcoin
    Ethash contract - Ethereum

    (*) Universal Miners Options Advanced Allocation” (special feature): It allows you to get mining outputs in many different coins even if they are not mined directly by a certain algorithm. For example, you can get mining outputs in BTC while mining with an X11 algorithm! That is possible by mining the DASH coin directly, which is then automatically swapped to BTC by our algorithmic framework. The Allocation function is designed for customers to receive delivery of their mining results in their preferred cryptocurrency. We call it “mining BTC the smart way”. The same technique is also used to get mining results in LTC with a SHA-256 contract, etc.

  • How do your ether contracts work?

    When you purchase an Ether mining contract, you buy a share of a GPU (“graphics processing unit“) to mine Ethereum. The hashing algorithm used to mine Ether is called Ethash (or Dagger-Hashimoto).

    Ethash requires the so called DAG file in order to perform the calculations. This file grows over time, which means that more operations for each hashing operation need to be performed. This means that the effective hashrate decreases a little each time the DAG file grows.

    This has to be considered when comparing the theoretical output of your hashpower. Online calculators do not take this into account.

    Also, please keep in mind that some of our products have a maintenance fee attached.

  • What are the expected returns?

    There is no specific ROI on investment because different investments come with varying profit returns, sometimes higher than expected.

  • What are the fees?

    Bitcoin and altcoin mining depends highly on the prices and network difficulties of the Cryptocurrencies that you are mining, which cannot be predicted. It would not “look right” if we would provide data on the mining performance and sell contracts at the same time. Therefore, we recommend all our clients to do their own research and do their own performance calculation.

    For example, you might want to have a look at coinwarz.com. Remember that some of our products have a daily maintenance fee which must be deducted from the daily mining rewards.

    Please note that the website is an independent source of reference and not related to Skyblue Crypto in any manner.

  • Which pools are you using for mining?

    We do not publish a list of pools we are using. Our main criteria for a good pool are: reliability, fee structure and reject rate. Going forward we will solo-mine a few coins (and pass the fee savings to our users!).

    Our internal policy is: “be a good crypto citizen”. This means, that we will at least use two different pools (in some cases we use up to four) for each coin. This is to preserve the decentralized nature of the crypto networks! If we become aware that a pool is getting close to 50% share, we will switch away from it and use a backup instead.

  • Isn't buying hardware cheaper?

    On the first glance one might think that buying miner X is slightly cheaper than hosted mining. However, there are a number of “hidden” costs related to purchasing and maintaining a miner that change the economics significantly:

    Shipping costs: few merchants will cover this, but in most cases they will charge you extra.

    Customs dues / VAT: if it is an international delivery you will likely have to pay customs dues and VAT; generally this has a huge impact on the total cost of your mining equipment.

    Delivery time: when you pay for your device you have to wait until the miner is packaged and shipped; if it is held up in the customs this can take weeks. And during that time you cannot mine at all (“opportunity costs”). You have to wait and hope. And if the merchant has a stock shortage; it is you who has to wait. With Universal Miners Options you pay and get your hashpower immediately online. No delays!

    Costs for additional equipment: when buying miners from larger retailers you often have to buy additional equipment like an extra PSU that matches the electricity specs for your country, control units and specific shelves to store them efficiently. This adds up significantly to the overall price for hashpower.

    Setting the system up: when the device finally arrived you have to assemble and configure it. Beginners often underestimate the amount of work and technical knowledge that is needed to bring the device up and optimize its settings. People that used the first ASICs spend days and weeks on it. In monetary terms this costs you twice: (i) your time and (ii) lost mining opportunity.

    Maintenance: hardware failures, outages and crashes could lead to downtimes between seconds and weeks. If your unit breaks you have to return it and start from scratch (by the way: check the guarantee time of your miner; it is often less than a year). With Universal Miners Options you have a guaranteed uptime of 100%: in case one of your units fails another unit will be switched over and start mining for you the very same second.

    Electricity: having the machines at home not only brings heat and noise, but also an increase of your electricity bill; an important factor that many underestimate. Please do not get us wrong: we do not want to discourage anyone from mining at home! We are often asked about prices and realized that many users do not know about all the hidden costs. If you compare the true costs, you will notice that our prices are very competitive. We want to provide you the best possible mining experience, so that you can focus on mining your favorite coins (and we take care of the rest).

  • What is the maintenance fee?

    Some of our products have a maintenance fee attached. The maintenance fee covers all costs related to mining including, inter alia:

    electricity cost
    cooling
    maintenance work
    hosting services

  • How can I mine different coins at the same time?

    Universal Miners Options allows its clients to mine different types of coins at the same time. You decide which coins you prefer and you can allocate hashpower accordingly.