BitDeer Frequently Asked Questions
Tags: Cryptocurrency, Cryptocurrency Mining, Bitdeer, Bitcoin Mining

What is BitDeer

BitDeer is the world’s leading shared mining platform, enabling global users to mine cryptocurrencies in a transparent, reliable and convenient way. It saves users from the complicated process of purchasing, installing, and hosting miners. You can enjoy the service with just one-click.

Unlike other computing power sharing products on the market, BitDeer offers flexible service packages with competitive pricing:

BitDeer platform’s user benefits are more transparent thanks to real miner machines works in leading mining facilities;

BitDeer connects to a designated mining pool at the user’s instructions, and mined digital currency is paid directly to the user’s chosen wallet address;

BitDeer provides combinations of long and short duration service with competitive pricing. Service on BitDeer is therefore more flexible and users’ needs are better met;

BitDeer picks the finest mining equipment of first-class manufacture, and collaborates with the world’s leading mining pools, such as BTC.com and Antpool.

How Does BitDeer Work

BitDeer customers can choose from different shared mining plans on our platform and pick their desired mining pool from our world-renowned partners. Once the order placement is confirmed, BitDeer will supply mining power to the pool and the designated pool chosen by user will directly transfer the payouts to the customer’s wallet address. BitDeer will be responsible for providing mining power to the mining pools according to customer demand, saving customers the hassle of purchasing and operating the hardware.

BitDeer has strategically partnered with the largest mining pools in the world and is equipped with the most experienced miner facility management team. We are honored to provide our customers with a secure and reliable computing power sharing service.

BitDeer’s Advantages (Investing in Miner Hardware vs Purchasing Mining Power)

Advantages of Miners Supply

1. BitDeer has been proudly strategically partnering with Bitmain, the world’s largest mining hardware manufacturer. The crypto mining giant has the most advanced integrated circuit technology in the world and will continue to provide BitDeer with its latest mining hardware.

2. BitDeer deploys the high-performance and high-efficiency Antminer hardware to ensure its smooth operation and prompt hardware upgrades.

Advantages of Strategic Partnerships with Top Mining Pools

1. BitDeer has established strategic partnerships with eight of the world’s largest mining pools including BTC.com, AntPool, ViaBTC and F2Pool.

2. By working with mining pools, miners can avoid the pressure of running through nodes, and hence improve the mining success rate, reduce costs and receive stable payouts directly from the pool.

Advantages of Direct Payouts

1. Customers can set up wallet addresses based on their own needs. They can use centralized wallet accounts as well as personal wallets with password protection.

2. Mining pools will deposit revenues at regular intervals on a daily basis, allowing customers to immediately receive their digital currencies.

3. Service fees will be paid by mining pools, and customers have nothing to worry about extra expenses.

Advantage of High Transparency and Flexibility

1. On the BitDeer user’s account page, customers can view the real-time hash power; they can also check third-party mining pools overview, statistics like computing power and real-time trend; they can also share their order information with people they trust without worrying about being hacked.

2. Customers can check the stability of their computing power and revenue in the mining pool and compare the mining ROI of different pools. They can also switch between different pools as they want.

Rules and Methods for Deposit and Distribution between Mining Pools

When a customer purchases a plan, the mining pools will set up his account. Mining pool will deposit the payout into the user’s chosen wallet address when revenue exceeds the minimum threshold. The minimum threshold for each pool is shown below:

After the customer switches to a different pool or their current plan expires, the remaining balance left in the original account below the minimum threshold will be transferred to the customer’s wallet after 7 business days.

Business Inquiries

For business inquiries, please visit https://www.BitDeer.com/en/cooperation.

Plans and How to Purchase Them

For plans and how to purchase them, please visit https://www.BitDeer.com/en/notice/109.

Contact

Contact Customer Service for Questions regarding Orders:

1. On the bottom right corner of the official website, click “help”.

2. Click the link to submit a ticket https://BitDeersupport.zendesk.com/hc/en-us/requests/new. Or submit a ticket from the help center page:

3. Send an email to support@BitDeer.comand we will get back to you within 24 hours on business days.

Customer Support

Account management

How to Register for BitDeer Personal Account

Visit https://www.bitdeer.com/, click the “Register” button and follow the instructions to register an account using email and cellphone number.

New accounts registered with a cellphone and an email account will receive a free 1T 3-day plan. New users can claim this reward by registering with their cellphone number and email then returning to “My Vouchers”.

How to Log Into Your BitDeer Account

There are three ways to log into your BitDeer Account

1. Use your cellphone and verification code

2. Use your cellphone and password

3. Use your email account and password

*If you have Google Two-Way Verification turned on, you must enter your Google Verification Code in the following window.

How to Reset Password

If you forget your password, click on “I Forgot My Password” and reset using your cellphone or email account:

How to Change Password

Account Management –> Login Password –> Change

How to Change Cellphone Number

Account Management –> Cellphone –> Change

*One cellphone number can be linked to only one BitDeer account. A cellphone number linked to an existing BitDeer account cannot be used on a new one.

How to Change Email

Account Management –> Email –> Change

*One email address can be linked to only one BitDeer account. A new email address cannot be used on an existing BitDeer account.

How to Use Google Authenticator

When adding account to receive revenue, customers must use 2FA dual authenticator.

How to Add New Wallet Address for Receiving Revenue

Dashboard –> Setting –> Wallet Address

Customers can add accounts for different cryptocurrencies or multiple addresses for one currency. After adding new ones, customers can set nicknames and delete old addresses.

*When adding a new receiving account, 2FA security authentication is required. Two items from the following are needed: email address, cellphone number and Google Authenticator. If cellphone and email have already been registered, the window below will pop up and the new receiving account can be added after the required blocks are filled in.

How to Change the Address for Receiving Revenue

Customers can change and add wallet addresses for receiving revenue when their orders have been activated

Dashboard –> Output –> Account Address –> Modify

Rules for modifying the account address:

1. Range of modification

When computing power is online and mining has started, customers can modify their account addresses as long as the new address passes the following conditions:

1) New address must match the naming rules on the blockchain, i.e., they must provide effective address for the currency

2) New addresses must be non-suspicious and never listed on a block list.

2. Effective Time

After modification request is submitted, it typically takes 3 minutes for the system to update.

3. Modification Limit

For any plans purchased, users can only change its receiving account once a day

4. Effective after Modification

1) After the address is updated, the next deposit will be sent to the new address. Any undelivered revenue prior to the modification will also be sent to the new address.

2) After the address has been modified, the next deposit will be delayed (for security reasons). Delay time varies with the designated mining pool.

*For plans with fixed hash power, customers cannot change pools and their account addresses simultaneously. When pool is being changed, the account address cannot be changed.

How to Switch Pools

For plans that are in effect, customers can switch pools through “Dashboard” –> “Output” –> “Pool: Modification” after logging in.

It takes a few hours to switch to a new pool. The account for receiving revenue will also be switched to the address on the new pool. Computing power might fluctuate during the process. In order to maintain a steady revenue, frequent pool switching is not recommended.

After switching pools, the revenue from the original pool will be sent to the current wallet account in 5–7 days after the plan expires.

How to Claim New User Gift

After registering cellphone number and email, new users can claim a 1T 3-Day gift. Please visit https://www.bitdeer.com/en/act/freshgiftfor more details.

We suggest new users to first register their cellphone numbers and emails then go back to “My Vouchers” to claim their gifts.

Order Related Issue

Tutorial on How to Place orders

Please visit https://www.bitdeer.com/en/notice/109for more details.

How Much Should I Pay for A Plan

1. The cost of the miner sharing package consists of two portions: computing power cost and electricity cost.

2. Computing Power Cost: Computing power cost is the rental fee for mining equipment. It is calculated based on the current price of the digital currency market, the future price expectation and the diminishing effect of hash power.

3. Electricity Cost: Electricity cost is the costs to operate and maintain the miners. Electricity cost can be paid via multiple payment methods. For example, when customers choose a 180-day plan, they can pay for the first 10 days when buying the plan and pay the remaining 170 days within the next 10 days. The unit price of electricity cost remains unchanged.

Electricity cost is calculated based on the number of days and can be paid via multiple payment methods. Customers can choose to pay for a certain number of days first (10 days minimum) and pay for the rest before the first payment expires. When placing orders, the number of days for mining can also be adjusted and increased later through the Dashboard’s “Add Days” button.

*Please be noted you need to add more days before the maintenance date, otherwise mining revenue payouts and new order placement might be interrupted. For example: a customer buys a 30-Day plan (from Jan 1stto Jan 30th). He paid for 10 days when initially placing the order so the mining will start from Jan 1stto Jan 10thand stop on Jan 11th. If he pays for another 15 days on Jan 15th, the plan will continue on Jan 15thand stop on Jan 30th. This means that there will be no revenue generated between Jan 11thand Jan 14thand the loss caused will not be compensated. Therefore, please make sure the payment is up-to-date so mining and your revenue is not affected.

Payment Methods

BitDeer now supports cryptocurrency payments including BTC, BCH, ETH, LTC, DASH and USDT (OMNI). Customers can also use USD wiring (TT) to pay. When making payment with cryptocurrency, please pay in full within 12 hours of ordering or the order will be canceled.

When using TT to pay, please pay in full within 10 days of ordering. Please remember to include your order number when wiring the payment or your order will be canceled.

For any payment method, customers are responsible of wiring and transaction fees. Failure to pay the fees might jeopardize their orders.

After making payment with cryptocurrencies, please wait for 6 confirmations from the blockchain (estimated 1–2 hours) to see the changes in the status of the order.

You can check out the status of the order through Dashboard –> My Orders –> Computing Power Order/Electricity Order.

How Long Does It Take for Orders to Activate after Full Payment?

After orders are paid in full, a certain number of confirmations must be initially reached before the orders are marked as successful. Current plan will be marked as activated and upcoming plans will be marked as on hold with an expected effective date.

BTC: 6 confirmations

BCH: 10 confirmations

USDT (OMNI): 6 confirmations

ETH: 12 confirmations

ETC：12 confirmations

LTC: 6 confirmations

DASH: 12 confirmations

Bitcoin transactions need confirmation from the blockchain. If the blockchain is congested, customers must pay extra service fee to make sure that the required number of confirmations are met. Otherwise, the transactions might not be confirmed on time.

*BitDeer has no control over the blockchain. Please pay appropriate service fees in order to make sure the deals go through smoothly.

Customers can check BTC.com for the real-time status of each blockchain. The following websites can be used to check the confirmation status of each cryptocurrency:

How to Check Order Status

Order status can be checked through Dashboard –> My Orders –> Computing Power Order/Electricity Cost Order.

How to Pay for Electricity for the Remaining Days

Electricity cost is calculated based on the number of days and can be paid via multiple payment methods. When purchasing a plan, customers can choose to pay for part of the plan (minimum 10 days) and pay for the rest before the first payment expires.

You can adjust the number of mining days when making the order and make adjustments later by clicking the “Adding Days” button.

If customers want to pay multiple electricity bills at one time, they can do so in “Dashboard” –> “Output” –> “Pay Multiple Electricity Bills”.

In order to avoid incurring losses due to interrupted mining, please make sure to pay your electricity bill before your paid days expires.

How to Pay through Third-Party Platform/Wallet

Taking Huobi as an example, choose payment method after placing orders on BitDeer. You will be redirected to the payment page:

Open Houbi App –> Asset –> BTC –> Withdraw

Enter the destination address and account then click on “Withdraw”. Wait for confirmation from blockchain (1–2 hours). Then go to Dashboard –> My Orders –> Computing Power Order/Electricity Order to check the order status.

*Customers must make full payment within 12 hours or the order will be canceled. Please also cover the transaction fees and service fees.

Remaining Balance after Order Expires

After the order is completed, any remaining balance left in the pool below minimum payout threshold will be sent to the customer in 5–7 business days after the plan expires.

After switching to a different pool, revenue from the original pool minimum payout threshold will be sent to the current receiving account for the order in 5–7 business days.

Revenue Related Issues

How to Calculate the Theoretical Revenue of a Plan

Click on the “Calculator” button at the bottom of the BitDeer website or go to the calculator page: https://www.bitdeer.com/en/calculator

For example, choose 360-Day 50TH/S plan (computing power cost: $1914.15) then enter the following numbers: period, hash power, computing power price, electricity price and number of days covered under the first payment. Information on costs and revenue will be shown:

*Mining difficulty and bitcoin price may fluctuate during the period. The values used for calculations are just for your reference. BitDeer does not make any guarantees on the final revenue.

Calculator only works for repeat purchase (using the revenue from earlier mining to cover the electricity cost of subsequent mining orders)

Total Cost = Computing Power Cost + Initial Electricity Bill Payment

Static return/revenue: the difference between static output and total cost

Static number of days to make revenue: the number of days required for static income to cover the total cost

Static rate of return: static return divided by total cost

How to Check the Revenue of the Plan

Customers can check the revenue of the plan in “Dashboard”. “Total Output” is the total amount of revenues of all the orders in the account. This number is calculated based on the pool and is updated on a daily basis.

Click on “Output of Each Order”–> “Total Output”to check the total revenue of the whole plan. Click on “Go to Pool” to enter observer mode in the back-end of the pool and check details of revenue (including daily revenue, deposit record and hash power).

Pools Revenue and Payment Clarification

After the plan is activated, the pool will automatically create a sub-account for the plan. When the revenue in the order/sub-account exceeds the threshold for withdrawal, the pool will send the amount into the receiving account.

The threshold for each pool is shown below:

After the customer switches to a different pool or their current plan expires, the remaining balance left in the original account that does not exceed the threshold will be transferred to the customer’s wallet after 7 business days.

Payment Merge

For customers who choose AntPool, their revenues for each order will be separately calculated. If two orders from the same account both exceed the minimum threshold (0.001 BTC), AntPool will send the revenue into the receiving accounts of the two orders. The wallet address of AntPool will see two transactions.

For customers who choose BTC.com, the payout will be made into one. If two orders from the same account both exceed the minimum threshold (0.001 BTC), the pool will combine the revenues from the two accounts and send in just one payout.

F2Pool also combines the payouts in one.

How to Check the Payout Record from the Pools

The total output of each plan can be viewed through Dashboard –> Output of Each Order –> Total Output. Click on “Go to Pools” to enter observer mode and check the details of revenue for each pool (including daily revenue, deposit record and hash power).

AntPool

BTC.com Pool

BTC.com Pool

F2Pool

F2Pool

Computing Power Related Issue

Coming soon.

Computing Power Fluctuation and Compensation

The computing power in BitDeer’s plans is an approximate value of the rated computing power of the plans. Since the computing power value inevitably fluctuates due to the nature of the miners and due to the network connection condition varying with time, it is impossible to display accurate hash power. Therefore, the actual computing power value might fluctuate near the standard value.

The real-time computing power normally fluctuates around the standard value of the plan. If it fluctuates more than 10%, please pay attention to the daily computing power value.

There are two reasons why the computing power may abnormally fluctuate (more than 10%). BitDeer will provide customers with compensation in such cases:

1. When computing power drops to zero due to uncontrollable factors like power outages and mining site maintenance, BitDeer will compensate the lost time of each customer in 1:1 ratio. If one hour is lost due to power outage, the duration of the plan will extend for an hour (promotional orders are not included).

The compensation will be sent to customers’ account after the power is restored. Since each customer suffers from different loss, please refer to the record in the system for your own compensation: Dashboard –> My Orders –> Computing Power Order.

2. Mining not running in full power as the computing power drops for more than 10% but not to zero in the last 24 hours. In this case, BitDeer will compensate customers in computing power when there is extra (normally in the next 24 hours or in batches over the next 7 days) until the daily computing power gets back to normal. Customers can check the change in computing power over the next few days.

Price Adjustment Rules

What is BitDeer’s Price Adjustment Strategy

BitDeer is a platform with real miner rental service. It adjusts the price of its plans based on the current market, market demand and mining difficulties to ensure its competitiveness. For example, when the difficulty decreases, BitDeer will immediately adjust its price.

In general, price adjustment benefits the customers. Our service is transparent and payouts are sent via pools directly into customers’ wallet. This means the customers can immediately reinvest with their revenue and enjoy high revenue with low cost.

Customers can find information regarding price adjustment at the bottom of the pricing page on our website. BitDeer will also release public announcements 5–6 hours prior to the adjustment taking effect.

Tricks

Make Money While Chilling — Invite Your Friends

In Dashboard –> Promotions, copy “My Invitation Link” and send it to your friends. When others click on your link and register for a new account, you will receive BTC incentives once they place their first orders.

More information about inviting a friend:

The invitee pays for his or her first order.

The inviter receives a certain percentage of the computing power fee of the invitee’s first order, maximum $200.

When the incentive reaches 0.01 BTC, the inviter can request for a payout (Dashboard –> Promotion –> Incentives –> Deposit Request) and it will be made available in 14 business days.

Your exclusive invitation link will always stay the same. The more people you invite, the more money you make!

Activate Matrixport Wallet and Get Instant Confirmation for Placing Orders

When placing orders, regardless of payment method, the purchase won’t be considered complete until the required number of confirmations on the blockchain is met. Extra fees are incurred sometimes in order to get the payments confirmed.

Is there a way to get confirmation within seconds and save the service fees? The answer is yes. Activate the Matrixport wallet and get instant payment with 0 service fee.

Steps:

1. Log in and click “Matrixport” wallet to activate

2. Open Matrixport wallet, choose the currency and complete your purchase.

3. Only one confirmation is required to purchase plans or pay electricity bills.

4. Choose “matrixport balance” during check out and pay your bills instantly.

Don’t Let Your Mining Get Interrupted to Maximize Your Revenue (Pay Electric Bills 3 days in Advance)

In order to avoid incurring losses due to mining being interrupted, please remember to pay your electricity bill before the date expires.

Overpaid Issues

If an order costs $100 but a customer pays $200, what should he do with the extra $100?

The over-paid portion can be used to cover other orders in the same account (new orders or new electric bills). If fund transferring is required, please provide:

Overpaid order ID:

New order ID:

Contact customer service or send an email to support@BitDeer.com.

Please also be noted:

If new order amount is larger than the overpaid amount, please cover the difference first before requesting for transfer.

If new order amount is smaller than the overpaid amount, a customer can directly request for transfer.

For new orders, you must use the same payment method as the overpaid order.

Transfer is normally completed within 1–2 business days.

For example:

Overpaid order number: A. Overpaid amount: $10

New order waiting for the transfer: B. shortfall: $90

Please transfer the overpaid portion of Order A to Order B

After receiving the request, our customer service team will verify and complete the transfer as soon as possible.

When Will Presale Orders Be Activated?

In general, they will be activated around 12pm (GMT +8) on the same day of the presale. If it is not activated, please check whether the orders are paid in full or contact customer service at support@BitDeer.com.

How to Use Matrixport Withholding Service for Electricity Fee Renewal

If you use the Matrixport Withholding Service, the electricity fee will be deducted from your Matrixport balance automatically when the plan’s remaining days of electricity are less than 3 days, meaning it will automatically charge the subsequent electricity fee from your Matrixport wallet balance. The system will renew the electricity for 3 days and create the corresponding electricity order (find in “My Orders-Electricity Order”)

The deduction would fail should the wallet balance be insufficient, and you would need to charge the wallet balance in time or pay the electricity fee manually, otherwise the mining would be interrupted and along with a loss of revenue.

We suggest users select “Pay to my Matrixport wallet”in above “How to Receive”option and always keep enough balance in your Matrixport.

When purchasing the plan, users can start the matrix balance withholding function by following the steps below:

1.For the number of days of payment of electricity fee, check “subsequent electricity fee is automatically deducted from Matrixport wallet” and select the currency of the deduction(BTC/BCHLTC/ETH/USDT). We suggest users select “Pay to my Matrixport wallet”in above “How to Receive”option and always keep enough balance in your Matrixport.

2. To enable Matrixport balance withholding function for the first time, please agree to Matrixport fund withholding agreement and conduct authentication.

3. After successful opening, during the execution of the order, your Matrixport balance will be automatically used to pay the electricity bill whenever the remaining days of the electricity bill are less than 3 days. You can turn this feature on or off in Dashboard -> Revenue By Order, or you can convert currencies.

4. When the system performs balance withholding, it will automatically renew the electricity bill for 3 days and generate the corresponding electricity fee order (find in My Order -> Electricity Order). Payment Type being Matrixport Automatic payment. Also, the deduction will be notified to you by email.

*1. If the balance of Matrixport account is insufficient, the withholding will fail. You will receive an email reminding you of the failure. Please recharge Matrixport wallet as soon as possible according to the email, or choose manual renewal, so as to avoid the loss of income caused by the discontinuation of the service.

2. Due to the unpredictable withholding time exchange rate. Matrixport is not recommended for consumers who are accustomed to paying for their electricity when the exchange rate is high,

3. It is recommended that the withholding currency be consistent with the corresponding plan currency, so as to ensure an adequate account balance in your Matrixport wallet (given chosen “Pay to my Matrixport wallet”)

4. If you turn on the withholding function and manually place the electricity order order during the period, the system will not trigger the withholding by default (even if the remaining days are less than 3 days at this time). If you have not paid after placing the electricity order manually, you will enter the withholding logic again after the expiration of the order within 12 hours.