Are you looking for the best cloud mining sites? Are you unable to find them? Have you looked everywhere and are still confused? If the answer is yes to any of these question then we are here to help you. In this article, you will learn everything there’s to about crypto cloud mining sites…
It’s not easy to find cloud mining sites. What’s harder is to setup own cloud mining equipment and mine everything by own. If you’re someone who has troubles with setting own mining equipment then you should definitely look at cloud mining. Here we will cover everything that comes under cloud mining with the top mining sites…
What’s Cloud Mining anyways?
Cloud Mining is the process in which you are a part of the mining pool, here you purchase a part of the “Hash Power”. The profit is disturbed among people who take part in mining according to the proportion of given hash power. With these tools (or sites) you can mine crypto currencies without the need of installing any additional hardware.
There are tons of companies which are ready to do the hardwork for you. All you gotta do is pay some basic costs and the crypto currencies will be mined through these sites.
What’s the reason behind data centers renting out mining equipment?
The answer to this question is pretty straight forward. Most of these sites rely on Bitcoins however not the full model is dependent on Bitcoins. The reason is simple, the price of Bitcoin is pretty volatile. Do you know – the people who made the most money during the Gold Rush were not the miners but the people what sailing picks and shovels. This strategy is known as the Pick-And-Shovel play.
There are many benefits of using cloud mining sites. You won’t have many issues that’s you may face my traditional mining equipment. We will talk about the advantages and disadvantages which will make it clear for you…
Advantages of using cloud mining sites…
Let’s look at the advantages of the cloud mining sites –
- You won’t have any stress of the upkeeping costs, electricity costs, hardware expenses and software installations.
- You can quit anytime if the mining is not profitable.
- There no need of any ventilation for the heat that’s generated..
- You won’t be listening to the humming fans all day long. .
- There is no need to wait for long time to start mining. You can start mining just after starting.
- The main benefit – you don’t need to buy expensive equipments. If you want to mine seriously than the cost could go up to $1000 easily.
Disadvantages of using cloud mining sites…
Let’s look at the disadvantages of cloud mining sites –
- Scams : There are only a few genuine sites where you can mine crypto currencies. Many fake sites are there just to scam newbies.
- There are less long term profits.
- You are at the mercy of the service provider. Whatever gear the company uses you have to use it – there’s no option of an upgrade.
- The mining company can be closed anytime and there won’t be anything you will be able to do about it.
Best Cloud Mining Sites
Eobot is known as the best cloud mining. It has a great reputation. Eobot many features that are missing from the competitors. Some of the features are – you can purchase fraction of the cloud instance, pay via Paypal for cryptocurrencies, and mine range of cryptocurrencies like Ripple, Ethereum, DogeCoin, etc.
The best thing about this platform state you can start small. You only need to invest about $10 to start mining. The mining updates are refreshed every 60 seconds. This way you can easily track how much you have made.
Next up on our list we have Genesis Mining. The best thing about this website – it has a simple user interface, which is easy to use. It is great if you want to start mining bitcoins, etc. It is often said to be the best cloud mining website on the internet.
Genesis mining is termed as one of the oldest mining tools, you can say they have a User experience in the industry. What makes them a great option is that they are the largest cloud mining company. They have huge experience behind them and can handle a huge volume of mining.
Ever since starting in 2014, Hashflare has earned a great reputation in the online mining industry. The best thing about this company is that you can get customisable mining pool selection i.e, you have the choice of selecting the mining pool according to your needs. It’s a feature that only a few selected companies give to their customers.
Apart from this, you also get transparency in fees and good commissions. Tracking how much money you have made is also pretty simple. The mining isn’t limited to bitcoins as you can also mine other cryptocurrencies like Ethereum, Ripple, ZCash, etc.
One of the most commonly used cryptocurrency platform is Hashing24. It is known for providing legal cloud mining services. It was started back in 2012, and got an upgrade in 2016. Hashing24 is based in united Kingdom, ukraine and Thailand. It provides IT services all around the world through the internet.
Hashing24 packs many powerful features – 100% uptime, powerful and efficient hardware, ,, data centres all around the world, etc. It’s one of the highly recommended crypto mining solutions. There are no fixed contracts and you can select the hashing power and the payment methods yourself.
Ahoy folks, these were the best cloud mining sites that you can use for mining crypto currencies. All the sites are pay-to-use i.e, you will have to pay if you want to get the benefits. No company will be willing to give you free crypto currency unless that’s a scam. You should be away from sites that offer any cryptocurrency for free.
Also Read: Tips on Selecting the best web hosting
So, which one of the above cloud mining sites do you find the most useful? Have you ever mined crypto currency? If not, why? Let us know in the comments below…