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If you want to invest in bitcoin mining without the hassle of managing your hardware and software, there is an alternative. Cloud mining also cloud hashing is a new concept, which allows users to buy mining power of the hardware placed in remote data centers.
Cloud mining offers a unique option for mining with a very low cost of entry as well as minimal risk and expense, which is opposite to traditional models of mining that involve procurement, maintenance, and configuration of highly specialized hardware. Mining profitability depends on many different factors. In order to find out bitcoin mining profitability calculators were invented.
However, the web services offered to calculate profitability are designed to work with your hardware parameters, not cloud-mining settings, but you can still use them.
If you rent your equipment with a cloud mining provider, you usually do not need to worry about electricity cost and other parameters, as this is often already included in your in expected profits. You usually just need to compare how much you pay to rent the hardware and how much coins you get in return. Calculators give you an estimate of your projected profit. So, these are only estimates.
Try this calculator for cloud mining in general. Some cloud mining providers already give you an estimate of return on investment with their pricing and costs data already filled in. All bitcoin mining is done in the cloud, without any offline hassle , such as dealing with electricity, hosting, software or installation trouble. Everybody can earn extra revenue with little to no risk and frequent payouts. We believe cloud mining is the best option to generate bitcoins if you do not own a lot of hardware or free electricity.
It allows users to form groups pools , where their joint efforts are rewarded with more significant income, compared to individual mining. First, join the cloud mining pool by simply buying shares or GHS online. You need to choose a plan, pay for it and you will start mining right after purchase. By signing mining contract, your provider will take care of all mining tasks, maintenance, and upkeep while you sit back and receive your share of mined bitcoins.
You will receive daily or weekly BTC payouts to your bitcoin wallet address depends on the plan. You need to pay in advance for hashing power and contracts usually come in the form of a 1-year contract, 5-years or unlimited until mining with rented hardware is profitable. Well, it is, the only thing to keep eyes on is the current bitcoin value , so that you stay profitable and that you do not pay more for hashing power than you get out of bitcoin production.
You can also sell your hashing power if you do not want to keep the plan or if profitability drops at some cloud mining providers. We suggest cloud-based bitcoin mining and hashing for those who are inexperienced in hardware and software maintenance.
Everybody can earn extra revenue with little risk and frequent payouts with bitcoin cloud hashing. You are probably aware that bitcoin cloud mining had a few issues in the past.
There were a lot of companies that were deceptive at best, scams at worst. These pretended to have mining facilities somewhere in Northern Europe, often taking photos from other providers and claiming them as their own, but in reality, they do not own anything, and they take your money.
Cloud mining providers often disappear with your bitcoins. We were already scammed a few times when testing various bitcoin cloud mining providers for our users, so we recommend you to stick to our frequently updated list above.
At Genesis mining, you can also mine other crypto-coins. For example, their X11 mining algorithm will produce the most profitable coins at the time and convert them to bitcoin automatically like DASH which gives an accelerated return on investment.
You can also mine very popular Ethereum. Eobot has an offer where you can buy cloud mining just for a day. Good if you want to try it out. If you can buy hardware and install software, you can start mining bitcoins on your own.
Here are a few links to help you start. But as computers around the world mine for coins by competing with each other, mining on your own can be unefficient. Your email address will not be published. Bitcoin cloud mining providers list — top 3 HashFlare — this company offers a new range of cloud-mining services brought to you by cryptomining experts.
You can mine bitcoins via SHA or Scrypt protocol. Genesis Mining — is offering hardware rental for mining purposes. Beside bitcoin you can also mine altcoins.
Is bitcoin cloud mining profitable? The same plan currently costs The same plan currently costs 3. With special deals that they regularly have, your payback will be even sooner. With Genesis Mining we are confident that this is a great company — they provide all the information about their services, their founders, they are actively involved in the community and they even have a live stream of their mining farm in Iceland. It is also worth just signing up with them as they regularly send discount coupon codes for bitcoin mining.
Save some money with bitcoin promo codes when buying bitcoin cloud mining. Bitcoin Cloud Mining was last modified: Leave a Reply Cancel reply Your email address will not be published.
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