Best Trusted Cloud Mining For Bitcoin, Ethereum [Discount Coupon Inside]

October 25, 2018

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Cloud mining or cloud hashing allows users to buy mining power that of hardware in data centers build by mining companies. There are number of players offer cloud mining in terms of renting their hardware for a fixed period of time. These companies returns the mined results with the users and cut their profit form

Choosing which mining service to use is not an easy task because this business is full of scammers. More than 99% of cloud mining providers are fraud. Instead of actually mining any crypto currency, they built an attractive website and start scamming users on the name of cloud mining.

I invested in some of the cloud mining platforms out of them two operators, Hashflare Mining and Genesis Mining, are most reliable and trusted brands offering contracts for several years. Cloud mining is done remotely in the cloud data centers. This enables the users to not bother with any of the hassles such as electricity, hosting issues, heat, maintenance, installation or upkeep trouble.

What are Advantages of Cloud Mining?

Let’s take a look on the advantages of the cloud mining:

Higher Profits – because mining providers optimize everything for you, it yields out higher returns.
Tranquil and cooler home – no more sound and heat.
Less electricity – the consumption of electricity will get a lot lower.
‘No’ equipment maintenance – no need to sell the hardware, when they stop being profitable. No tension of configuration of the hardware.
Simple and Ready to use: Signup with these provides and start with in minutes.

What are Disadvantages of Cloud Mining?

And now have a look at the counterpart list:

Scam Risk – It always involves a risk of being scammed by a cloud mining fraud.
Cost of Mining Operations – users have to pay for the hardware management cost.
Unpredictable profit: Profit depends upon various factors. If the value of coin goes down it may become non profitable also.

Is it Profitable?

Always keep in mind that returns are not guaranteed and depend for a part on coin value and mining difficulty, both of which are unpredictable for the future. The lower the coin value, the higher the impact of that fee on mining returns, and the higher the mining difficulty, the less coins the same amount of hashrate will return, and vice versa. If we take an example of Ether mining it was less profitable as price of the Ether was much lower then the current price. If you believe that the value of a crypto coin is going to be very high in 1 or 2 years then it will be much profitable.

My Experience Summary:

I purchased mining contract from 3 different companies. So let me share my personal view on them.

Geneseis Mining: I am very happy with the results I am getting with Genesis Mining. I got Ether and Bitcoin mining with them and getting my payout everyday. As per the current scenario it is profitable and I believe that In future value of Bitcoin and ether are going to be very high. You may find some article on the bogs saying its less profitable. It was the case when value of the coin was much lower when compare with current price. So before making any decision with those article always check when that article was published and what was the value of the cryto coin that time. Calculate accordingly.

Hashflare: Like Genesis mining, Hashflare also providing very good result. It is my recommendation if you want to invest in cloud mining never think of any other option then these two cloud mining providers. These are well established and oldest players in the market.

Hashing24: I have also done my research on hashing24 mining service and it also seems like a reliable service which is not a scam. Still I have not invested with them so can’t comment on it.

I will also keep you updated about other cloud mining services listed in this article in next few months. After getting my first payout.

Best Trusted Cloud Mining:

There are many websites offering cloud mining. I picked only few of them, thoose are reliable, trusted and well known players of the market. Now lets take a brief idea about recommended cloud mining services:

Genesis Mining

There is only 1% of companies who actually setup mining hardware and mine crypto coins for you and one of them is Genesis Mining. Genesis mining was started in 2013 an is one of the oldest companies around. Genesis has established a publicly known mining farm in Iceland.

Currently they are offering mining powers for Bitcoin, Ether, Zcash, Monero, Dash and Litecoin. You can start mining within minutes. Available payment options are Credit card and some crypto coins.

Discount Coupon: Copy and paste this code (as shown in image below) at the time of payment to get 3 to 5% discount on your purchase: 1yelG5