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This post has you covered. A company can claim to be a cloud mining company without any proof of actually owning any hardware. Which Companies Are Not Scams? There are only two cloud mining companies we clpud willing to recommend on this site: Genesis Mining and Hashing Just because they are not scams, however, does not mean that you will make a profit by buying contracts.
Hashing24 Hashing24 xuper one of the few cloud mining companies we are willing to even list here. The main reason is that they are partnered with BitFury, one of most well-funded Bitcoin companies who is also one of the few re-sellers of mining hardware.
Hashing24 sells lifetime contracts, so you retain your hash power until the becomes unprofitable. For more info, see our Hashing24 review. You can read more about Genesis Mining on their about page. Genesis Mining offers three different Bitcoin mining cloud contracts. All plans are paid with a one time payment and are lifetime contracts: Is Cloud Mining Profitable?
It depends what your goals are with cloud mining. If your goal is to obtain bitcoins, then there is really no reason to floud mine or even mine at all. You will get more bitcoins for your buck if you just buy bitcoins! If you think mining is cool and want to try, then cloud mining still is not a good option.
Grab a cheap USB miner and run it at home. If you just want bitcoins, mining is NOT the best way to obtain coins. Bitcoin Cloud Mining Comparison There is not much to compare, because we personally do not recommend buying any clooud mining contracts so we will not spend the time to compare the two companies above.
But check back in to see if we find any new, legit cloud mining companies. Bitcoin Cloud Mining Scams History The reason there are so many cloud mining scams is because it is very easy for anyone in the world to setup a website. Once the website is setup it can claim that the company has a large mining facility. The company can act legit by sending initial payments to its customers. But after that it can just keep the already received payments for hash power and then make no further payments.
In just the last few months, two cloud mining scams were uncovered: HashOcean and Xloud Cloud Services. Most cloud mining companies accept Bitcoin, PayPal, and credit cards. If a cloud mining company accepts bitcoins then there is a good chance it is a scam. This is because Bitcoin payments go here be reversed.
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