Crypto mining represents a good way of lining your virtual wallets with various types of cryptocurrency. Naturally, turning profit from anything isn’t easy; to mine cryptocurrency successfully, you need to invest heavily into hardware and know-how required to operate said hardware.
Knowing how to set up a crypto miner and paying for the electricity it spends aren’t the only parts of the equation, with the last one including following the market and determining which coins to mine. This element also requires significant resource (namely your time) dedication as well.
Some people like to avoid the first part and only focus solely on hunting for mining opportunities. But even when you find a good cryptocurrency to mine, you’ll still need to somehow find the hash rate required to mine said currency.
This is where cloud mining services jump in: with the help of these, you can basically borrow hash rate online and direct it to mine the currency of your choice. As such, you can become a crypto miner while avoiding all the pains of installing and managing your own hardware.
This practice comes with its own advantages and drawbacks. While the entry cost is much lower and the service is in general accessible to a wider pool of individuals, your profits will be lesser than if you were to mine with your own hardware.
Additionally, you don’t own any hardware so you cannot sell it if you eventually decide to cut costs. Finally, cloud mining is a hotbed of illegal activity, as malicious individuals look to create fake cloud mining websites and take advantage of those looking for the service.
In this article we’ll give you a quick overview of some of the more reputable cloud mining services on the market. Any potential cloud miner should research these services in depth and determine if they can help him turn a profit; online profit calculators (which most of these services have built-in already) can give said miner a better idea of one service’s profitability.
At this moment in time and with these current crypto prices, cloud mining doesn’t seem like a very profitable endeavor; still, it’s not impossible to find a diamond in the rough for trusted cloud mining sites and achieve some financial gains with properly directed rented hash power.
Before we move on to the top cloud mining sites list, here is a comprehensive overview of what coins are worth mining these days. These cryptocoins are easy to mine and give best returns.
Bitcoin cloud mining review 2021 – best cloud mining sites
NiceHash is an online crypto mining marketplace which connects sellers and buyers of computer hashing power. Exchange of hashing power goes through “mining contracts”, where buyers set their terms (like the amount of hash they need, how long they need it, and the price they are willing to pay for it) and sellers then choose if they’ll accept them or not.
The entire economy of this marketplace is “powered” by Bitcoin, with buyers using it to purchase the hashing power and sellers getting compensated in Bitcoin for their resources. This is an important thing to understand; you don’t get paid in cryptocurrency you decide to mine/your hardware is pointed towards, but in Bitcoin. Hashing power sellers that sign up for NiceHash can choose to provide their service with all sorts of hardware, including CPU, GPU, and ASIC. NiceHash itself claims it doesn’t own any mining hardware.
There is a total of 34 mining algorithms supported by the service, including SHA-256 (Bitcoin’s algorithm), DaggerHashimoto, Sia, CryptoNight, Blake, Equihash, Scrypt, Keccak, Lyra2RE and 2REv2, X11, X13, X15 and others. The number of mining pools that can be mined on is also significant, as all mining pools that follow stratum protocol specifications are supported.
The service operates from Europe under the “NiceHash” name while their USA servers operate under the name of WestHash. The servers are located in Amsterdam, San Jose (USA), Hong Kong (China), Tokyo (Japan), Chennai (India), and Sao Paulo (Brazil).
BeMine has been providing its services worldwide since 2018.
They have several options to provide: mining-hotels for legal equipment hosting in Russia and CIS countries and ASIC-retailing. Miners are invited to host their crypto-mining machines in partnered data-centers, while there is an opportunity for users, which allows purchasing and hosting mining equipment online (even its shares), without having to be personally presented on transporting, installing, configuring, and maintaining ASICs.
If you would have bet on the right coins this year you could easily have 10xed your capital…
You could even have made as much as 100x which means you could have turned $100 into as much as 10k.
Experts believe this will happen again in 2021, the only question is which coin do you bet on?
My friend and cryptocurrency expert Dirk is personally betting on 3 under-the-radar cryptocurrencies for huge ROI in 2021..
Click here to learn what these coins are (watch till the end of the presentation).
- minimum purchase: ~$52. Administration’s point is to reduce entry-cost to mining of BTC, bringing more decentralisation to the Blockchain.
- payouts starting from the first day of mining
- opportunity to purchase both miner’s shares and contracts
- the ability to eventually buy additional shares of asic to the whole and arrange for the delivery of the miner to your door. Also providing wholesale supply of the equipment.
- many partner hotels around the world
- the lowest price for services in the world with lowest electricity price.
- claim $10 reward for mentioning in socials
ECOS is one of the best cloud mining providers out in the industry. It was established in 2017 in the…