Cloud operation involves purchasing CPU power from dedicated data centers that use their own equipment to mine cryptocurrency such as Bitcoin (BTC) on your behalf. The main advantage of this approach is that you do not need in-depth knowledge of mining equipment or the purchase of expensive and difficult-to-obtain equipment. Rent ' hashing power ' (Usually measured in gigahertz per second or GH/s) it also means you won't have to worry about the heat and noise inherent in a small-scale mining project. Many of these companies purchase their own equipment or manufacture it at a lower cost. They then set up their computing centers in countries like Iceland and China, where electricity is cheap, saving you money. In this guide, we'll explore five of the world's most popular cloud mining companies. As there are many scammer groups posing as minors, we have, where possible, curated cloud miners who can prove that their data centers exist or are approved by a reputable company. Take the time to do your own research before investing at your own risk, of course, it is ultimately your money. If you are interested in cryptocurrencies but not happy with the idea of mining, you can simply buy Bitcoin as an investment (see our guide to buying Bitcoins with Bitstamp). Without further ado, let's move on to our picks for the best cloud providers.
- We also show you how to mine Bitcoins.
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Image Credit: Bitcoin.com Bitcoin Pool is provided directly by Bitcoin.com and aims to provide the most competitive cloud trading service. Bitcoins advertised as providing the largest Pay Per Share (PPS) pool in the world with a flat fee premium of 98%. Setup is easy and you can start trading right away in either Bitcoin Cast (BCH) or Bitcoin Core (BTC), whichever seems more profitable. Monitoring is also easy to do via mobile apps for Android and iOS. You can track your account usage and value as often as you like. The prices for mining BCH and BTC are identical, so you can switch between them. There are three main packages available: the 1-month package starting at €59.99 (€50), which offers 10 TH/s at a cost of €5.99 per TH/s, with an additional one dollar daily charge. There is a sliding scale that allows you to scale up if you wish, but there is no discount for use on a larger volume. The 6-month plan offers from 3 TH/s to €32.99 per TH/s, for a total cost of €98.97 (€85) for six months, plus a daily charge of 30c. Again, there is a sliding scale that allows you to book up to 2570 TH/s, but would require an upfront cost of €84,784.30 plus a daily fee of €257. A third option is a 2-year plan, offering from 2 TH/s a starting cost of €199.98 (€170) plus a daily fee of 20 cents. Again, a sliding scale offers an increase of up to 2708 TH/s, but most people probably find the costs prohibitive. Another point to note is that even if bitcoin prices are currently in check after their 2017 peak, Bitcoin.com will terminate any contract where charges exceed revenue for 60 consecutive days.
- You can sign up for Bitcoin Pool here
Image Credit: Hashnest Hashnest was launched in 2014 by Bitmain, a world-renowned ASIC mining equipment manufacturer. Bitmain also operates one of the largest mining pools in existence: Antpool. Combined with the photos of a handful of data centers on Hashnest's website, this is compelling evidence of the company's legitimacy. Although Bitmain is primarily based in China, Hashnest owns mining farms around the world that benefit from low-cost electricity. The website currently offers a Paid Accelerated Cloud Operation contract or PACMiC. PACMiC is a type of electronic contract structured in such a way that Bitmain pays for the maintenance costs of the mining facility (such as electricity), and all mining revenue will be used to reimburse the owner of the facility. PACMiC. When the principal is not fully repaid, it shares the profit with the buyers. This loosely translates to 6.0TH/s hash power in exchange for 1 BTC. Hashnest says this translates to sliding profit payouts for each block found with an annualized ROI of more than 14%. Alternatively, you can buy hash power directly from Antminer, like the S9, whose throughput is about 12.5TH/s. You then pay a fixed maintenance fee based on the efficiency of the device; for example, the rates for the S9 are currently €0.19/TH/day. Contracts for Antminer devices are currently being sold, but you can still purchase a PACMiC contract if you have the funds.
- Sign up for Hashnest here
Image credit: Hashflare. Hashflare is a subsidiary of Hashcoins, another Bitcoin mining equipment manufacturer that has been around since 2013. Its website provides a detailed description of the company's data center, including images. Hashflare offers you the opportunity to purchase hash power for a variety of SHA-256 and Scrypt tokens, such as Bitcoin and Litecoin, as well as Ethereum and ZCash. You are also free to choose your own mining pool. Hashflare is open on their maintenance fees: they are 0.0035 USD for 10 GH/s of SHA-256 coins and 0.005 USD for each MH/s of Scrypt coins per day. Ethereum, ZCash and Dash contracts are not subject to any maintenance fees. The total amount of your earnings will depend on the mining pool you have chosen and the hash power you have assigned to it. At the time of writing this article, only the Ethereum mining contract was available, all others were out of stock. Since January 2018, Hashflare has also temporarily suspended new Bitcoin withdrawals due to a large number of unconfirmed transactions. The company plans to resume withdrawals once the issue is resolved.
- Sign up for Hashflare here
Image credit: Hashing24. The Hashing24 team claims to have been involved in mining Bitcoin since 2012, although the website has only been around since 2016. The company does not appear to have a dedicated data center. Instead, it has established partnerships with renowned providers like BitFury. rent hash power to customers. Please note that Hashing24 is mentioned on the Bitfury website, which can reassure customers that the operation is real. If you are new to cloud mining, you can also use the Hashing24 demo mode to simulate a Bitcoin mining contract to determine the amount of your profit. This is a good way to help you understand some of the concepts behind cloud mining, but it won't necessarily allow you to predict your future profits, as the difficulty and price of BTC will vary over time (of course). Once registered, you can currently sign up for Bitcoin mining contracts only, the contract is for an indefinite term (lifetime). If they're out of stock, you can also try the Hashing24 auction feature, which allows you to bid on the hash power of existing customers. Regardless of the mode of purchase of your mining contract, Hashing24 charges a lump sum of 0,00033 USD per GH/s and per day (although, at the time of writing, this amount was 0 USD due to an offer). There is also a one-time fee to purchase hash power from a particular host.
- Sign up for Hashing24 here
Image credit: Eobot. Eobot has been around since 2013 and is registered in California. The owners have chosen to remain anonymous, so the main website does not contain photos or office addresses. The Eobot site misbehaved when we registered our ad blocker, forcing us to use another browser. However, once the registration was finished, we found that the website notifies users when someone logs into their account from a new IP address. Two-factor authentication is also enabled by default, which means that to access your account, you must provide an email code and password. Eobot offers mining contracts for 24 hours or 10 years. The website is well designed and also offers a cost estimator that allows you to calculate daily earnings in exchange for the hashing power you buy. Their front page makes it very clear that most investments will take about 52 months to recover. Maintenance fees are currently set at 0.00021 USD/GH/s/day. Unlike other cloud-based websites we reviewed, Eobot also offers a simple explanation of how maintenance costs work. Contracts are available for a wide range of cryptocurrencies. Due to the owner's desire for anonymity and to comply with the law, direct deposit of funds via bank transfer is not supported. However, you can buy contracts with Bitcoin and by credit card in US dollars with Epay.
- Sign up for Eobot here
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