Cloud cryptocurrency mining is a simplified, mining of bitcoins and altcoins, freeing the user from the cost of electricity, round-the-clock monitoring, software configuration and other difficulties associated with the classic mining option on its equipment. Cloud Mining is the best option for accumulating and increasing cryptocurrency assets for 2019.
Investments in cloud mining allow you to receive cryptocurrency due to computing power (hashrate), only without using your own equipment. With cloud mining, equipment is leased from companies that have powerful data centers with ASICs and GPU farms. These services offer the power (hashrate) of their equipment for cryptocurrency mining for a certain time period, usually 1-2 years.
For 2019, the most popular and reliable cloud mining sites are :
Rating TOP-5 of the most reliable cloud mining sites, with current estimates for the summer of 2019:
Service | Rating | Detailed review |
IQ Mining (Editor’s Choice!) | 9.8 | Read the review |
Bitdeer | 7.6 | Read the review |
Hashing24 | 7.5 | Read the review |
Hashflare | 7.1 | Read the review |
Genesis mining | 6.8 | Read the review |
The criteria by which we are rated in our rating :
Cloud mining is the extraction of cryptocurrencies Bitcoin, Ethereum, Litecoin, Zcash, Dash (the full list of altcoins depends on the particular service) using special cloud services that accumulate capacities in their data centers and farms.
This is a new cryptocurrency earning model that creates groups (mining pools), with one goal: to get more income than conventional distributed mining, due to the management of equipment by a contractor who solves all issues of technical and software components.
The profitability of cloud contracts is due to the fact that the companies providing the service, as a rule, are producers of production equipment (ASIC) or purchase equipment directly from plants such as Bitmain with significant discounts and in the priority queue (until the network complexity is massively increased). This significantly reduces the costs and cost of mining, and the consolidation of ASIC data in large data centers reduces maintenance costs.
Thus, this model of work is beneficial to all participants, since it can significantly increase profitability and get a greater profit.
That is, in simple terms, a certain company produces or acquires mining equipment, and then sells its capacity to end customers, while maintaining the equipment, electricity costs, setting up and connecting to the Internet completely fall on the shoulders of the company.
Cloud service deprives customers of most of the problems and difficulties that accompany the mining process :
Some companies charge a small commission for their work, which consists of electricity and equipment maintenance fees. But in any case, it is much more profitable for the end user than to keep the equipment at home or rent a separate room for it. Since farms and data centers of these companies are usually built in places with cheap electricity and heat dissipation.
Most often, such companies are engaged in Bitcoin (BTC) and Litecoin (LTC) cloud mining, using the so-called ASIC equipment developed for cryptocurrency mining for the extraction of cryptocurrency (there is a different one for each algorithm).
Due to the disappearance of inexpensive video cards and ASICs from the market, cloud mining services are now gaining immense popularity and many contracts are redeemed just a few days after the appearance (commissioning of new capacity). The most reliable of them are IQ Mining, HashFlare and Genesis Mining. Judging by their long history, these services will not burst like bubbles of other hype projects that work for several months, collect the necessary amount of money, and turn off, and users lose their investments.
Specifically, our editorial team uses the IQ Mining service (95% of the total capacity), for more than two years of working with it, there were no problems or delays in payments.
If you decide to start investing in mining now, when video cards and ASICs are too expensive for a private buyer, the easiest and most effective way to profit from investing in cryptocurrency mining is cloud mining. Since if you buy a small batch of equipment yourself, it will essentially cost two to three times more than cloud service contracts for similar capacity.
The secret of the popularity of cloud mining can be described by identifying its strengths, which confidently outweighed the scales in the direction of mining using leased facilities. Namely:
These are not all the advantages of cloud mining, but even they are more than enough to understand why users began to use third-party services, feeling the higher financial attractiveness of such a mining model compared to the classical one.
We will analyze the mining of cryptocurrency in a cloudy manner for its strengths and weaknesses, because, as you know, each coin always has two sides.
Benefits | disadvantages |
---|---|
+ there is no need to spend money on your own equipment, which is expensive and tends to wear out during use, and is also not insured against breakage; | – there are a lot of scammers and non-transparent mechanisms of work of many companies, choose only proven and reliable services; |
+ lack of electricity and internet bills; | – the huge level of profit promised by the platforms can be misleading (sometimes there are figures of 400% profitability per year), which is impossible in practice and ends in disappointment for a miner who was counting on the declared level of profit; |
+ remote use of equipment that is installed somewhere, and not in your home, therefore does not occupy your living space; | – the susceptibility of services to hacker attacks and hacking of user online wallets, in which the user loses all funds not withdrawn from the resource (therefore, services with a long payback period are best avoided); |
+ there is no need for round-the-clock monitoring of equipment operation, as well as solving technical problems and difficulties with connection, settings, etc. | – as a result of the production and launch of a significant amount of computing equipment, the network complexity may unexpectedly change (more relevant for less popular cryptocurrencies), which will negatively affect the value of the hashrate; |
+ there is no discomfort from the high noise level of the equipment, there is no need to worry about its proper cooling and air conditioning; | – if the cryptocurrency rate drops, work or payments may be suspended by the management of the cloud service; |
+ gives the opportunity for passive earnings: you do not think about the process, but you earn on the machine, the ability to simultaneously do something else; | – the price of the mined cryptocurrency can fall, but the user needs to wait for the end of the paid time to withdraw funds (with classic mining, you can rebuild your farm under a different coin). |
+ high level of profitability, a large profit from invested funds, reaching 200% per year; | |
+ Popular cloud mining services are located mainly in Europe, have a legally registered status, which guarantees the reliability of working with them; | |
+ the ability to earn more: the total capacity of the leased equipment is much higher, which affects the amount of remuneration (cloud contracts, even taking into account expenses, have a high level of profitability) | |
+ the ability to predict profits due to a fixed amount of remuneration and well-known indicators of complexity of calculations; | |
+ diversification of investments: the same cloud mining service allows you to conclude contracts for the extraction of various cryptocurrencies, which will protect the invested assets in the event of a depreciation of one of the coins and minimize damage; | |
+ There are no restrictions on the use of services: you can mine cryptocurrency on a machine on several platforms at the same time; | |
+ referral program allows you to earn extra money by attracting new users to the service and receive% of each purchase made by your referral; | |
+ the ability to quickly and easily scale computing power without additional expenses, which usually involves scaling when mining on your own equipment; | |
+ protection from problems associated with interruption of the Internet connection, when the mining process is interrupted completely, regardless of what stage you were at. |
As you can see, the advantages of cloud mining are much greater, which once again proves the feasibility and benefit of this model of earning on cryptocurrency, and also explains the growing popularity of cloud contracts among network users.
You have already learned a lot about cloud mining cryptocurrencies to understand that this is a great way to invest money. It’s time to move from theory to practice.
So, in order to independently start cloud mining, you need to perform several actions:
Before choosing a service for cloud mining, you need to determine how long you want to rent equipment. Most often, companies offer to conclude a cloud contract for 1-2 years. But, there are those who offer their equipment indefinitely.
In the case of new altcoins, it is better to consider short-term and medium-term rental options, for example, six months. For top cryptocurrencies, it is more possible to buy long-term contracts.
When choosing four main options:
We have prepared detailed reviews for you on the three most reliable and time-tested cloud mining services. In addition to favorable tariffs, they have the most scarce quality of cloud services – publicity (confirmation of the actual availability of equipment) and payment stability, verified by more than one year of stable operation.
We recommend stopping at them :
A more extended list of companies providing this service will be lower. But it is worth noting the fact that other services cannot yet boast such a rich history and capacity.
In the list below you will find the most trusted services providing cloud mining services for bitcoin and altcoins in the form of contracts for a certain period. The contract provides a cloud of the power that you yourself choose, and the mining income from this cloud will be your daily profit in the form of the cryptocurrency that your algorithm extracts.
We advise you to register on the sites of the first three , since the reliability and credibility of these services is much higher than all the others on the market.
At the moment, Cloud mining is the only working way to get cryptocurrency and minimize its risks with such an investment. This is a modern solution for users who are confident in the stability of the chosen means of payment and are not going to engage in farm assembly and maintenance of a noisy installation.
In fact, cloud mining services are similar to investing in stocks, but with much higher returns and favorable forecasts regarding their prices. Given the general trends in the Bitcoin market, your contract is very likely to be very profitable, according to statistics over the past year, the profit in relation to investments was 300-800% (depending on the contract and algorithm).
Now at the beginning of 2019, this rate of return is approximately 150% -200%, also depending on the contract and when you purchased it. the cost of each subsequent batch of contracts (capacity) is more expensive.
Information on the replenishment of the balance sheet, conditions for receiving earned funds, terms and commissions. On the example of Hashflare, as the most popular service on the market:
Deposit of funds (purchase of capacity) :
Withdrawal of funds (income generation) :
The main advantages of cloud mining :
The main disadvantages of cloud mining :
In the table below, we have collected cloud mining services, which you can earn income without investments! Typically, such services give a small bonus in the form of capacity for production for registration, which you can immediately invest in the project and start making a profit.
We’ll emphasize right away that you won’t be able to get a significant income from such sites, but they are not bad for dating and getting started with cryptocurrency mining. Especially if you register immediately in all sites from the table below.
Unfortunately, cloud mining services without investments are not enough because no one likes to give out money just like that. But we specifically selected only the most reliable and reputable (as much as possible in such a niche), filtering out all dubious projects so that you would not waste time in the empty, but would get your income guaranteed.
Please note: on these services there is a minimum withdrawal threshold, which is reached extremely long at the starting bonus power.
Service | Profitability | Description | Status |
---|---|---|---|
Iq mining | A free 7-day period for any contract worth $ 100 and an additional bonus of $ 20. | IQ Mining conducts a constant analysis of the cryptocurrency market and mines the most promising crypto coins and resells the mined coins through a specially developed API channel on several cryptocurrency exchanges.At the moment, an advanced smart mining algorithm allows you to manage to profit by 70% more compared to conventional mining contracts. | Pays |
Bitdeer | Free power 2 TH / S for a trial period | The company appeared at the end of 2018, in order to popularize its service in the first stage, it provides all new users with a free trial period with a hash rate of 2 TH / S for bitcoin mining. | Pays |
Wormminer | Fixed bonus after registration. 80% -200% per annum | One of the features of working with the service is that it does not buy mining capacities, but the server. Each server has its own profitability and each server requires a different amount of electricity. | Do not pay(since September 2018) |
CryptoMiningfarm | Fixed bonus after registration.30% -200% per annum | Custom service with several different contracts. It has been working for more than a year. | Do not pay(since the end of 2018) |
If you decide to invest your own funds or the cryptocurrency already received in the cloud service, IQ Mining will be the best option in terms of stability and profitability of tariff plans .
SITE | DESCRIPTION | STATUS |
---|---|---|
Cryptominingfarm | Scam | Do not pay |
Alphamining | Scam | Do not pay |
Wormminer | Scam | Do not pay |
Shansis | Scam | Do not pay |
Dayrex.cc | Scam | Do not pay |
Minecloud.io | Scam | Do not pay |
Cryptomining.cc | Scam | Do not pay |
Fflakmining.com | Scam | Do not pay |
Wizory.cc | Scam | Do not pay |
Hash-x.io | Scam | Do not pay |
Glxmining.cc | Scam | Do not pay |
Desmine.cc | Scam | Do not pay |
HashCoin.io | Scam | Do not pay |
Vixice.com | Scam | Do not pay |
Shreemine.com | Scam | Do not pay |
Faxtar.com | Scam | Do not pay |
SplititMining.com | Scam | Do not pay |
Gigahash.org | Scam | Do not pay |
HugeHash.com | Scam | Do not pay |
HashSecure.com | Scam | Do not pay |
Overhash.com | Scam | Do not pay |
CryptoFly.net | Scam | Do not pay |
Eco-Hash.com | Scam | Do not pay |
Biteer.biz | Scam | Do not pay |
Metizer.com | Scam | Do not pay |
Bitsapid | Scam | Do not pay |
Coinmark | Scam | Do not pay |
Bitcoinworld | Scam | Do not pay |
Twomine | Scam | Do not pay |
Blackcloud | Scam | Do not pay |
Onehasher | Scam | Do not pay |
Mining-smart | Scam | Do not pay |
Hasheer | Scam | Do not pay |
Sidcash | Scam | Do not pay |
Rainvis | Scam | Do not pay |
NatroLimited | Scam | Do not pay |
Cryptobit | Scam | Do not pay |
Fromtminer | Scam | Do not pay |
Firebit | Scam | Do not pay |
5miner | Scam | Do not pay |
Bitmine | Scam | Do not pay |
Aromine | Scam | Do not pay |
Xmine | Scam | Do not pay |
Bit lite | Scam | Do not pay |
390Hash | Scam | Do not pay |
Hash-capital | Scam | Do not pay |
Scurmrr | Scam | Do not pay |
Bitminister | Scam | Do not pay |
Sky hash | Scam | Do not pay |
Hash ocean | Scam | Do not pay |
Fixhash | Scam | Do not pay |
Otiis | Scam | Do not pay |
Topmine | Scam | Do not pay |
Crypto-union | Scam | Do not pay |
Ahash | Scam | Do not pay |
Sv-miner | Scam | Do not pay |
CLDmine | Scam | Do not pay |
Hot-coin | Scam | Do not pay |
Coindig | Scam | Do not pay |
7cly | Scam | Do not pay |
Cld-mining | Scam | Do not pay |
In-crypto | Scam | Do not pay |
Scrypt | Scam | Do not pay |
Sea mining | Scam | Do not pay |
Bdminer24 | Scam | Do not pay |
Coinminers | Scam | Do not pay |
Crypto-mine | Scam | Do not pay |
My hash | Scam | Do not pay |
Rdpmain | Scam | Do not pay |
Cloudmining | Scam | Do not pay |
Scryptsy | Scam | Do not pay |
Cloudminr | Scam | Do not pay |
Hexhash | Scam | Do not pay |
EarningsToday | Scam | Do not pay |
AprilCoin | Scam | Do not pay |
Bitcoin-income | Scam | Do not pay |
Emicoin | Scam | Do not pay |
Pbmining | Scam | Do not pay |
Btccloudmining | Scam | Do not pay |
Earntomorrow | Scam | Do not pay |
Cloudmy | Scam | Do not pay |
Telcominer | Scam | Do not pay |
Micro-btc | Scam | Do not pay |
Elitmaning | Scam | Do not pay |
Cryptomanyngfarm | Scam | Do not pay |
Navvi.cc | Scam | Do not pay |
Ultron | Scam | Do not pay |
Cloud mine | Scam | Do not pay |
Eliteminingclub | Scam | Do not pay |
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