Cryptocurrency mining will definitely not lose relevance in the coming years. Digital coins are becoming more expensive, the market is developing, and infrastructure is being built. Regular mining becomes more difficult, difficulty increases, and rewards decrease. There is an alternative option - cloud mining, for which you don’t even have to buy equipment.
We have made the TOP best cloud mining services for cryptocurrencies , we will explain how to earn money and how much mining in the cloud brings. This is not a complicated, but most importantly a passive way of making a profit that requires investment. It is becoming more and more attractive against the backdrop of rising equipment prices and a decrease in the profitability of classical crypto coin mining.
Cloud mining - passive income
Everything was going to the point that home computers would no longer be suitable for mining. Times are changing, now it is no longer relevant to buy video cards to mine Bitcoins. Yes, for now the equipment can be used to collect altcoins, but you can go the other way - renting capacity.
The essence of cloud mining comes down to renting computing power. Through special services, it is possible to obtain equipment (part of it) and use it for crypto mining. This area began to develop several years ago, but now it is at the peak of popularity because interest in cryptocurrencies has increased.
Read the article about how to make money on Binance. This exchange offers various options, including several investment methods.
The organizers of cloud mining services spend a lot of money and a lot of effort on creating farms. At the same time, they also take risks - the cryptocurrency may fall in price. To be on the safe side, they offer everyone who wants to rent their capacity at a fixed price for a certain period. Thus, it is possible to obtain a guaranteed profit.
Conclusion about the project
What does the BeMine.club administration actually offer?
Firstly, you don’t know where to buy equipment and you don’t know from whom. There are no guarantees that the equipment will be transferred into your ownership at all.
Secondly , take the word of the admins that they are honest guys and will not cheat you on occasion. At the same time, the user agreement states that claims cannot be made - neither for delays in payments, nor for equipment.
Is it possible to make money on this project? Of course, someone will receive some kind of payment. Participants of the referral program have a chance. But the risk of going negative is huge.
TOP cloud mining services
Not everyone wants to delve into technical issues, some have electricity tariffs that are too high, some don’t have enough money to put together a full-fledged farm. Cloud mining services solve all these problems. For them you need to go through the usual registration, top up your balance and select a contract, then the profit starts flowing automatically.
| Website (click on the name and register) | Year of foundation | Mined currencies | Terms of contracts |
| ECOS | 2019 | Bitcoin | From 1 year |
| IQ Mining | 2016 | Bitcoin, Ethereum | From 1 year |
| Bemine | 2018 | Bitcoin, Ethereum, Zcash | From 6 months |
| Cryptouniverse | 2018 | Bitcoin, Litecoin | From 360 days |
| Genesis Mining | 2014 | Bitcoin, Ethereum, Zcash, Litecoin, Dash, Monero | From 1 year |
| Bitluck | 2019 | Bitcoin | From 360 days |
| Hashmart | 2019 | Bitcoin, Ethereum | From 1 year |
| Nicehash | 2014 | All known coins | From 1 day |
This is a short rating of cloud mining services; below we will tell you more about each of the projects. In addition to those presented, there are hundreds of others, however, there are a lot of scams in this area and you need to be careful.
What exactly is the money being invested in?
There are projects that only hide behind the idea of cryptocurrency mining. They are based on financial pyramids; such sites are called HYIPs. It’s better not to even consider them; reliable cloud mining services offer to invest in:
- Equipment - you can select it from the catalog, after payment the client uses the issued hashrate remotely, maintenance falls on the shoulders of the company.
- Part of the equipment - if there is not enough money to buy a whole ASIC, investors’ funds go into a pool, from which the equipment is then purchased and the power it produces is divided between investors.
- Power - you choose what hashrate you need and pay for the rental of a certain amount of power, this is an ideal option for investors with small starting capital.
Tariffs are different everywhere, but sometimes there are flexible plans. Also, the administration of some sites offers to create their own tariffs with individual conditions. There are options for everyone, you can invest in anything.
Are there cloud mining services without investments?
Sometimes you can find cloud mining with a registration bonus, but the welcome gifts on the sites are modest. They are added for the purpose of advertising, so customers can try to use the service, but they are unlikely to make money.
Cloud mining of bitcoins without investments is a scam, this does not happen. How do you imagine that? They give you power for nothing and you get cryptocurrency for free? Sounds like crazy. There are such offers on the Internet; only scammers can place them.
Financial pyramids
And now to the disgusting news: scammers constantly hide behind the legend of mining cryptocurrencies on some mythical cloud facilities and offer you to invest, and even so that you will receive 150% of the net profit the very next day , regardless of the Bitcoin rate. However, if the profit does not depend on the exchange rate, then it turns out that no mining occurs? And how much does it take to mine in order to turn 10 dollars into 25? There are too many subtleties and pitfalls that the average user does not think about.
Cloud mining - instructions for a beginner
Many users are hesitant to start because they are afraid of encountering difficulties. In fact, everything is extremely simple, how do you make money from cloud mining?
- First you need to choose a service; the list of reliable ones is presented above.
- The user needs to go through regular registration.
- Then the internal balance is replenished in your personal account.
- Next, you select and pay for a tariff plan.
- If possible, a pool, an algorithm, a cryptocurrency are selected.
- Mining starts and payments are credited to the balance.
- Having reached the minimum amount for withdrawal, you can order a payment.
Earning is passive, you don’t need to do any actions, except that you may need to pay for services (sometimes paid separately), and you will need to visit the site from time to time to order payments or reinvest profits.
Exposing the project
As I wrote above, Cryptoconsulting LLC actually exists. And even KVEDs are suitable for servicing mining farms, but merchants do not have the right to sell the equipment.
If this company is related to BeMine.club, it operates legally only by outward appearances. And I don’t intend to be held responsible for anything.
What also confused me was the laudatory reviews. There are few of them and they are the same! The conclusion is that the reviews are paid.
Also annoying are the contradictions I found on the site and the secrecy of the service provider. They hide the addresses of the data centers, and they also don’t want to be responsible for the equipment allegedly purchased by clients. Responsibility for its safety is transferred to unnamed third parties.
As for payment for services, everything is not transparent here either. Because admins either accept bitcoins into their wallets or use the Interkassa gateway. Interkassa is an excellent payment acceptance service, but it is only a financial intermediary registered outside of Russia. And is not responsible for the actions of store owners who are connected to the gateway.
What is a contract in a cloud mining service?
Cloud mining contracts are investment plans in services. They differ in characteristics and price. For example, they can bring a certain cryptocurrency, be valid for a year or two or be unlimited, provide different capacities, differ in the price of service, etc.:
Users register and select a plan, a contract is concluded, then mining starts and production proceeds in accordance with the selected conditions. Which one is better to choose? You need to compare data and build on the budget.
Cryptocurrency cloud mining service NiceHash
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