Top 10 Best Cloud Mining Online Services + Blacklisted

Top 10 Best Cloud Mining Online Services + Blacklisted

Here is a top 10 listing of the best Cloud Mining online service you can find online as well as the blacklisted ones. Mine every day becomes harder and harder. If a few years ago it was possible to make a profit by doing mining on an ordinary home computer, then at the moment it is often the case that collective pools and even rather large farms are unprofitable.

Cloud mining top 10 online services

We can say that the era of mining at its own facilities is over. Now, in order to have remote passive income and get bitcoins for free, you can not do without the help of large companies that have created a farm in the cloud and are able to lease specialized equipment to anyone who wants it. That is why many people who mine cryptocurrency began to think about switching to cloud mining.

So, cloud mining – what is it? This is what we will try to figure out today, and also discuss whether it is worth investing money in it and, if so, then where.

What is cloud Mining?

Cloud mining is the extraction of various cryptocurrencies using specialized cloud technologies and services.

The essence of cloud mining lies in the fact that you do not use your own equipment to mine virtual coins, but you turn to large cloud services where you can rent computing power. The data centers of such organizations are located in those countries where electricity is cheap and the climate is rather cool and not humid.

What is cloud Mining

The power you take is called a hash, a cryptographic code that combines blocks together. This is not equipment or any part of it, but speed. The more you take these hashes, the more and faster you can earn with the help of this hashing. It is best to buy gigabytes or terahesheshi, but it all depends on your desires and capabilities.

This type of work is very profitable and convenient, and not only for the companies themselves, but also for ordinary users. This is due to the fact that most often manufacturers of equipment for mining Bitcoins online are in the role of such organizations. Thus, they provide themselves with earnings, as they themselves use their own products. Ordinary users do not have to spend huge sums on the purchase of equipment, its installation and configuration. This is a cloud farm. Also, you do not have to look for a place to install and pay impressive bills. You just take the power company.

How does cloud mining work?

If you understand the problem of cloud mining at least a little, then now you should understand how it works. The algorithm of such companies is as follows:

  1. For a start, the necessary equipment is purchased and configured.
  2. A website is created, which indicates the cost of the services provided, information about the company, as well as the conditions under which the contract is concluded and the principle of cloud mining.
  3. The user enters the site, is registered, selects the option of how to mine Bitcoins in the cloud, and buys a certain number of gigabytes or teraheshs.
  4. As a result of this transaction, the company makes a profit from the contract, and the user – from the fact that he uses advanced technologies for mining in the cloud

Is it possible to make money on cloud mining?

In principle, the process of earning looks pretty simple. However, is it possible to make money on this, and if you start investing money in virtual power, then what exactly should you start with?

Let’s really look at the real mining business. Why create it? In order to earn. About your profit hardly anyone will care. In fact, you pay for the use of equipment, electricity, rent of the room where the cloud farm is located in reality and other costs. Everything is logical, but tariffs are growing, and it is becoming more and more difficult to get cryptocurrencies. Today they are not as profitable as they used to be.

No, this does not mean that it is impossible to make money on it. This can be done, but the level of costs should be quite large. With minimal investment, you will receive a profit only in a few years, and this is too much, since changes occur fairly quickly in the field of cryptocurrency.

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There are always risks, but let’s talk about something more pleasant. You can do any kind of mining and make a profit if:

  1. You buy power only from reliable companies.
  2. You have capacities on your accounts that can be used to mine cryptocurrencies.
Is it possible to make money on cloud mining

Explicit fraud in this area is impossible, but there is a big risk to get on an unreliable company, pyramid or HYIP. Recognizing them is very simple – a new offer may differ in overpriced incomes and aggressive advertising. Although, on the other hand, if you have found some kind of proposal that nobody has heard of, and the return on investment is more than one and a half years, then it is also better to refuse.

What investments will be required?

As we have said, without a good investment to earn will not work. In order to start earning cryptocurrency using cloud mining, you will need to buy power. Often, new capacities are quite expensive. If you want to save money, you can buy them from other miners who for some reason decided to get rid of them. The cost of such hashes will be 5-10% less than the original price.

Now let’s talk about the quantity. Best of all, you have 20-30 terahashi. This will allow you to earn good money. However, it is worth considering that the cost of 1 terahash depends on where you buy it, and it starts at $ 150.

Advantages and disadvantages of cloud mining

However, it is worth noting that there are cloud mining services and without investments. Here you are given a small power just because you have registered. You will not be able to earn a lot, but for beginners it is a great option. On such services for a month you can earn about $ 5, or even less. But a beginner in this field will be able to understand how it all works.

Advantages and disadvantages of cloud mining

Cloud mining has certain advantages over its classic version. These undoubted advantages include:

  • Almost all reliable companies have legal status
  • A person does not need to independently monitor and tune equipment. In addition, this method of mining bitcoins does not affect the amount of electricity you consume, there is no load on the wiring. In addition, you will not have to hear the buzz from a working farm, and the air will not overheat.
  • Revenues from cloud mining are quite high. On many services you will be able not only to repel for a year, but also to increase the funds that were invested in it. And if you take into account the fact that the course is constantly increasing, then it becomes quite profitable. In addition, there are projects that allow extracting bitcoins without investments, albeit in small quantities,
  • Availability. You do not need to invest a large amount of money in order to start mining. On some resources this can be done without them at all,
  • The power of the data center will be much more, so the user will receive more from cloud mining than if he collects his own farm,
  • Each person can easily calculate exactly what amount he will receive. This is easy to do, since the indicators of complexity and the amount of reward are known
  • You can mine different cryptocurrencies using the same service. Although this will reduce your income a little, you can avoid or at least minimize your risks.
  • You can choose any resource with the most profitable contract for you and do mining there,
  • Similar services quite often have referral programs. That is, for the fact that you bring several more people to this resource, you will receive a certain amount or an additional percentage of the amount that this person will earn.

Despite the fact that there are quite a lot of advantages, cloud mining has certain disadvantages:

  • There is always a chance that the bitcoin rate will decline. This has already happened in 2011 and 2013, and now, according to analysts, there are also prerequisites for this. Cloud mining is a great way to passive money, but only if you are going to do it seriously and for a long time,
  • All offers from mining sites are different. This is due to the fact that each breakdown in the data center makes it necessary to make new edits to its proposal, so that the amount earned by the company covers repair work and other types of losses that they suffered
  • You can always run into scams or a pyramid. To do this, these scammers simply create a colorful website, run an advertisement and promise you the golden mountains. Despite the fact that cloud mining services have their advantages, the benefit will be depending on whether you have an idea of ​​what the scam artist site looks like. The main thing to remember is that if you are promised a income of 250%, then you should not invest your money there. To date, no site can bring you such a profit
  • Websites of companies that have an online wallet can be hacked, and the company will go bankrupt. This means that if you do not withdraw all the money you earned at once, they may go to someone unknown. For this reason, it is better not to get involved with services that cannot immediately transfer money, or they will go too long,
  • Every contract you sign has an expiration date that will end exactly after the specified time. After that, you will need to enter into a contract again, and the conditions, as already mentioned, quite often change. It’s quite difficult to meet the offer of perpetual power rental,
  • Quickly change the cryptocurrency, which you mine, will not work, and all the money that you invest in these businesses will pay off only in 1-2 years.
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What are the parameters to choose?

Today there are a huge number of cloud mining services. Each such site offers its own terms of contracts, and the capacity of these companies are also different. Many of us, of course, will choose the site where the interface is the simplest, the hash cost is low, the conditions are pleasant, and the promised profitability is the highest. And it will be the biggest mistake.

As in any business, there are also scammers here, so in order not to fall for them, you should evaluate the site you have found according to the following criteria:

  1. Publicity and reviews. Before you invest in this company, you should view the photos and videos, which shows the equipment available to her, find out if the blogs, what they write about this site, read reviews from other people. At the same time, if all the reviews are 100% positive, then you should not trust them. There are always people who do not like anything. But a large number of enthusiastic responses – most likely, suggests that they are purchased.
  2. Time. This is quite an important criterion. Cloud mining is a fairly young business, and not all companies can survive in it. Therefore, the more years the service, the better.
  3. Power and users. It is best to invest in large companies that have a large number of capacities. If there is enough power reserve, the conditions are good and the company has existed for a long time, then there will be many users.
  4. Multicurrency. Pretty relevant item. Since the rates change, it is best if the site will allow you to mine different types of cryptocurrencies. Another thing is that Bitcoin is considered the most reliable, and everyone is trying to extract it. But this is up to you.

And now, when you already know about the main selection criteria, let’s consider the most reliable and popular services.

Top 10 Best Services for Cloud Mining

1. Hashing24

Hashing24 is one of the best sites for cloud mining, which can be found in almost any list and rating. It works quite stably and allows you to get a good profit. The site has a special online calculator, thanks to which you can calculate your profit. In this case, you can withdraw from 0.002 bitcoins and more. The company appeared back in 2012. It has located its computing facilities in Georgia and Iceland, and offices in Ukraine, Thailand and Scotland. Hashing24 collaborates with BitFury, a member of the Blockchain Alliance.

However, this service has several drawbacks. The first is that it only works with the SHA-256 algorithm, which means that you cannot mine anything other than Bitcoin. However, if you do not need anything else, then there are no problems. The second drawback is that the site uses the power of third-party data centers, although this does not affect the quality or reliability.Hashflare

2. Hashflare

Hashflare service online

One of the best pools that exist today. His level of profitability can reach 200% of how much you paid for the contract. This is the highest of the existing indicators. At the same time payments in Bitcoins are made automatically, which is also a positive thing. HashFlare is one of the divisions of HashCoins, which is engaged in the production of equipment for mining. Previously, it was possible to conclude permanent contracts with them, but now the maximum term is 12 months. This service supports such algorithms as: Scrypt, SHA-256, Ethath, EQUIHASH, X11.

Thanks to this, you can extract bitcoins, DASH, Ethereum, Zcash and others. 

Most of all users are attracted by the pleasant price, support, detailed statistics, as well as stable payments. Trying to start mining is quite simple – just buy a contract for a couple of dollars. Payment can be made using WebMoney, credit card or cryptocurrency. In addition, the reputation of this company is absolutely flawless, that is, the maximum level of reliability, and this is the main thing when choosing a service for cloud mining.

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3. Genesis Mining

Genesis Mining Service

Another very popular site that has been running since 2013. Almost all the facilities of this company are located in Iceland, while the main office is in Hong Kong. The project is quite ambitious, as can be seen by viewing the video from data centers below using a mining scam. In addition, all the reviews about this service are very positive. Here you can extract Bitcoin, Ether, as well as other popular cryptocurrencies. You can enter into a contract for a maximum of 2 years, which is quite convenient if you consider that the conditions are constantly changing. In addition, payments are made daily and there are no hidden fees. Thanks to this, you can be sure that even if the site is hacked, a large amount will not be stolen from you, so everything will be transferred to your wallet.

4. Minerjet

Minerjet Mining Service

Minerjet is a company that also provides mining power. Using the algorithms you use, you can mine Monero, Litecoin, Ethereum, Dogecoin and more. In addition, the site has an affiliate program.Cryptomonitor

Pretty reliable, albeit young, site. Cryptomonitor began to work only at the end of 2015, but has already earned great popularity among users. Here the contract will be valid until you get a profit of 200%.

5. Telcominer

Here you can also do cloud mining. At the same time, the site itself has a fairly simple and convenient interface, and profitability indicators, which are equal to 2% of the amount of investments and more, remain stable. With such indicators, income per year can be 400%. In addition, anyone can independently try their hand without investing anything in it. To do this, simply register on the site and start using your speed, which is equal to 15 Kh / s.

6. Ultron

Ultron Mining Service

A great site for mining bitcoins. The special advantages of this service include the fact that here you can enter into an indefinite contract, and payments to your account will occur every day.

7. Futuera

Also a pretty young site where you can start mining ETH and BTC. Daily profit is approximately 1% of the amount spent.

8. Bitminer

Bitminer  Mining Service

This company has several fairly large data centers. Using their power, you can mine different types of cryptocurrency. The number of algorithms for this is quite large. If you are particularly interested, you can view them on their website. The cost of the facilities is rather small, which undoubtedly pleases those who are just starting or have not yet fully understood this topic, and those who have been earning money in this area for quite some time. At the same time, their profitability is also quite good, and if you want to sell your hashes for some reason, you can do it on the stock exchange at any time.

9. OXBtc

This company sells not only capacities for the extraction of Ether and Bitcoin, but also sells mining devices, from which you can create your own farm. There are two types of deposits – financial and current. If you tack between them, you will be able to recapture the money that was invested in the shortest possible time.

10. EObot

EObot Mining Service

One of the oldest companies on the cloud mining market. There are more than 20 systems here, which means that you will be able to mine the most different types of cryptocurrency. It uses algorithms SHA-256 and Scrypt. You can find out how much you have already earned in your personal account, in which information is displayed every minute. Separately, it should be noted that a contract can be signed for several days or several years, but not more than five. You can get payments in any cryptocurrency. Also on this service there is an opportunity to create a multi-currency wallet, as well as independently assemble a pool, with the help of which you will mine using the MyPool program.

After you and I figured out what cloud mining cryptocurrency is, how it works and how to choose the right service, where you will extract Bitcoin and other types of currencies, it is worth mentioning those cloud mining projects that do not pay their customers and therefore, you should not trust them. The black list of these cloud services is presented in the table, which you can download here.

Blacklist Cloud Mining Service

Blacklist Cloud Mining Service

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