Best Bitcoin mining sites
What is Cloud Mining?
Cloud mining is an uncomplicated mining of bitcoins and altcoins, operating services that hire power of the PC, which is accumulated in special digital archives with e-currency mining farms.
By definition, it is clear that cloud mining is an identical cybercurrency’s mining assets at the expense of computing capacity, but in a more simplified version. It frees the miner from the high-priced buying of EQP, configuration, 24-hour control, overcoming technical failure, etc. Because in this matter the client exploits the services of competent vendors, who deal with all these functions and take payment for it.
Such mutually beneficial cooperation takes place through the conclusion of a cloud deal between the lessee (the miner) and the lessor (the cloud mining feature), under which the miner consumes the chartered EQP for e-currency mining for a time-bound period specified in the document.
The value for money of these arrangements stems from the fact that the firms leasing EQP to the lessees are also the producers of that EQP, which has a positive effect on the expense of mining, because the price is substantially diminished, and the attendance of a single digital archive reduces upkeep. Thus, the cost-efficiency of cloud mining enhances, and with it the earnings and interest of users.
To put it simply, there are no limitations: if you are required, for example, Ethereum, you can mine them trouble-free. And you can do it under much better conditions than purchase your own equipment at a cosmic cost.
Moreover, when it comes to classical mining with their own equipment users face another problem – video cards and specially devised ASIC equipment, which were utilized for crypto mining, unexpectedly disappeared from the marketplace.
Their disappearance bears no relation to magic, on the contrary, it’s reasonably predictable: there were plenty of users who wanted to exploit Bitcoin, Ethereum, Dogecoins, Monero, Lightcoin, Dash, etc. on their computers that demand an overwhelming supply.
It’s hard to find video cards and ASIC right now, but if you can, it costs a lot. As a result, cloud mining has become a cost-effective and effective way to capitalize on the investment in e-gold mining.
Is mining crypto worth it?
As we have already seen, we must be very cautious when investing money, because not only in cloud mining, but also on the Internet, there is a lot of fraudulent activity.
To do so, it is essential to look in detail at the various suppliers and the terms of the contracts they render. Additionally, it is very important to learn reviews and opinions, stay in the community of users on sites like Reddit or social media, and never stop asking until we are sure our money is safe.
However, despite the risks that exist when we delve into cloud mining services, we believe that it is a very effective method for creating our first cryptocurrencies and even for generating passive income over time.
From there, we recommend that you give this service a try. Or, if you are impatient, you can always purchase cryptocurrencies by buying them yourself.
No matter what the case, one or the other option is good as long as you do it with your head and when you don’t put more money at risk that you would be willing to lose.
This is not all the avails of this mining, but even they are far enough to realize why the users turned towards the provision of third parties, feeling a greater business interest of such a mining type than the conventional pattern.
It’s foolish to deny ourselves the opportunity to bring in more, with less stress and minimizing your risks. Users understood this at one point, and now, the exploitation of this mining has become a popular means of making money by investing in the exploitation of crypto.
This is particularly the case in countries where electricity costs are high, such as Denmark, Germany, Italy and Ireland. Cloud mining allows residents of these countries to tap into cryptocurrencies where electricity is more available and less expensive.
We will discuss the pros and cons of cloud mining because, as you know, there are two sides to every coin. Advantages:
- It is not necessary to have expensive mining machines, which may become obsolete and become worthless over time. We don’t have to spend time installing complicated mining software on our computer.
- We won’t have to pay high energy bills.
- We can enjoy a home with no high temperatures far above normal and no constant buzzing of fans. The profits generated by this service are optimized to the greatest extent possible by the suppliers who offer it.
- The overall risk is lower than if we were mining from home – no facilities, no configurations, no noise, fires or similar problems.
However, there are also several drawbacks:
- Not interacting with mining hardware and software may seem a bit amusing to some people.
- There is a lack of control in terms of profitability as the price of the crypto is very volatile and the “dairy account” may go very wrong for us.
- When mining through an intermediary, we have to think that this intermediary should benefit through its services. Consequently, this method offers fewer benefits than if we were to remove the middleman.
- Contractual warnings may be issued in case of a dramatic change in the price of bitcoin. Ultimately, companies have power over their services.
- Losses may occur in this process if we don’t do the right calculations and follow the right strategy.
- High risk of fraudulent activity.
- Most businesses are scammers and are relatively easily seduced.
The benefits of cloud-based operations are proving this making-money model’s feasibility, and also account for the increasing network users’ recognition of cloud contracts.
Best cloud mining sites 2022
- Mining pool from an established mining and investment platform;
- Market experience since 2017;
- BTCs as coins for mining;
- A potential to arrange your own parameters for the contract;
- Daily payments in BTC;
- Special offers for contracts starting at $5000;
- Available on Web, Android and iOS apps
- Сryptocurrency exchange, portfolios and wallet within the ecosystem;
- Ongoing bonuses and hash rate drawings.
HashShiny (Scam Likely)
- Ability to mine different coins;
- Low service fees;
- Welcome bonuses;
- Discount system for regular customers;
- Mobile app;
- A range of available ways to cover a contract;
- Flexible customization of the contract at the time of takeover;
- Possibility to select the pools for mining.
IQ Mining (Scam Likely)
- Occurrence of permanent contracts;
- The PRO line of immensely worthwhile computer algorithms;
- It has been working since 2016;
- Day-to-day payments;
- Straightforward and convenient site;
- Productivity calculator;
- Online support;
- Promo codes and discounts;
- No verification.
- Capability to speedily register and log in via social networks;
- Moderate risks;
- Payment calculator;
- Full security of data transmission, through the use of the HTTPS protocol;
- The company uses modern ASIC chips;
- Stable power and protection against failures;
- Referral scheme;
- The possibility of trading.
- Capability to pay off contracts and equipment;
- Convenient store system with shopping cart;
- Two-level affiliate program;
- Opportunity to receive discounts with PAWĀ tokens;
- A wide choice of methods of refilling, including purchase for fiat.
Crypto Universe (Scam Likely)
- Total capacity of 42 MW;
- 18,000+ miners in continuous operation;
- 6 degrees of protection against overloads and high temperatures;
- 24/7 online control of the equipment operation;
- Low entry threshold;
- Large selection of rates for different strategies;
- Daily payments and withdrawals at any time;
- No unforeseen costs;
- High level of security.
LetMeCloud (Scam Likely)
- Quick payouts every day
- Dashboard with live mining statistics
- Referral program with 20% rewards
- Deposit and withdraw funds both via crypto and credit cards
- Instant online support
- It provides mining a wide range of crypto.
- The capacity allocation feature facilitates to always mine the most profit-making coins.
- Comfortable installment, large number of deposit methods.
- Automatized day-to-day withdrawals.
- Strong team.
- Environmentally friendly – the digital archive is powered by geothermal energy.
Can I get scammed?
Losing money on a cloud mining program is a major risk. Some services allow customers to determine viability. The precise day quantity of dollars, euros, or rubles that you order to withdraw and put in your pocket cannot be calculated because it is entirely impossible. But it is attainable and important to reduce financial risks.
- Start investment with money you’re willing to lose.
- Second, do some preliminary research on the business you plan to entrust with your money using social media, online forums, and purchaser reviews.
- Third, diversify your assets to significantly minimize the damage in the event that one of the crypto prices falls.
Finally, it is essential to approach cloud mining with the same caution as any other investment.
How to select a bitcoin cloud mining website?
In order to choose the finest cloud mining provider, we have created a range of criteria for you:
- Fame and popularity (number of online publications and mentions);
- Age of the business (older businesses are more dependable);
- Reviews (aim to focus on reviews that include numbers that are more likely accurate);
- A wide range of capabilities;
- Hardware (select a provider with the most advanced ASICs, because this boosts the possibility of crypto mining);
- Users’ traffic;
- Existence of a test arrangement (be sure to try it).
What is the best Cloud Mining Website in 2022?
ECOS is the best provider among cloud mining sites. Due to the direct supply of electricity in 200 MW, the agreement with Bitmain to supply the most powerful equipment (such as Antminer S19j Pro), the advantage of the Free Economic Zone, the corporation has attracted more than 100,000 customers since 2017 and mined more than 6000 bitcoins for them (that’s over a hundred million US dollars!).
The provider now serves 12,000 ASICs, and it can at least double that volume. If you want to join so many crypto investors, then go to the site and try it yourself.
Which cloud mining is profitable?
Profitable is cloud mining with a minimum amount of costs. The provider and customers must keep track of these costs:
- The cost of equipment per unit of power
- The cost of maintaining the equipment
- Pool fees
- Cloud mining provider commissions
- Electricity costs
If these costs are lower than the cost of mined cryptocurrencies, then such type of mining is productive.
Does cloud mining pay off?
Yes, cloud mining pays off and for most investors it is more profitable than independent mining due to lower costs. You can calculate the yield of cloud mining in the ECOS yield calculator and see for yourself.
For example, if you invest $1,000 and the value of bitcoin returns to its highest price, you will earn $4,000 in 2 years. Specifically, in our example, cloud mining has paid for itself four times over. Try to calculate your case.