Cryptocurrency mining: overview of the best cloud mining services
Cryptocurrency mining is a common way to make profit using digital coins. However, many cryptocurrency miners prefer not to create their own farm, customize software and choose equipment, but to mine digital coins using cloud services.
What is cloud mining?
During cloud mining, user gets cryptocurrency using the computing power of remote data centers. There is no need to independently search and assemble equipment.
Moreover, cloud mining helps miners from countries with high levels of electricity prices to save money. You can enter into an agreement with a mining farm located in regions with more affordable electricity.
Using cloud mining, you can also mine several currencies at the same time, and sometimes test services for free.
Best services for cloud mining
When choosing a service for remote mining, it is important to remember that different companies offer contracts with different terms and conditions. To start making profit, you should find a lucrative contract for digital coin mining, taking into account the power of equipment.
It is also important to remember that there are many scammers on the market, and some companies may abruptly suspend their operation. Reliable cloud mining platforms are listed below.
Eobot platform created by the largest manufacturer of ASIC chips Bitmain. This fact increases the level of trust in the service.
Using Eobot, users can select the desired cryptocurrency from 21 digital coins, including such popular currencies as BTC, ETH, LTC, DASH, ADA, NEM, EOS and ETH Classic.
The service allows users to enter into contracts of any duration. Thus, cooperation with the platform can last from 24 hours to 10 years.
Genesis Mining has been helping miners to mine cryptocurrencies since 2013. BTC, LTC, ETH, DASH, Zcash and XMR are available on the platform.
For each of the cryptocurrencies presented, the platform created three service packages with different equipment capacity and cost.
To mine Bitcoin, it is necessary to conclude a five-year contract, and the contract for mining other altcoins lasts for two years.
Those who want to mine cryptocurrency on other conditions can offer the company its own mining plan.
Using the services of Hashing24, it is possible to mine Bitcoin only, but it is possible to conclude an open-ended contract with the company. For the use of the 100GN/s equipment, the buyer will pay $12.5.
The mined coins are sent to the user's wallet every day. In addition, the platform guarantees customers that it won’t suspend the contract if the equipment fails. Moreover, the platform is a partner of BitFury – the largest company producing mining equipment.
The IQ Mining service has been operating since 2016 and offers mining services for several altcoins at once. The platform promises that the first payments will arrive on the client’s wallet an hour after the contract conclusion.
The service offers five strategies for mining: you can choose mining options for the ten most profitable cryptocurrencies at a particular period of time.
Each strategy has three packages: gold, bronze and silver. This allows users to choose the most profitable option.
AlienCloud is a platform offering several cryptocurrency services, including crypto exchange, cold and hot wallets, as well as cloud mining.
The service regularly adds new mining contracts and allows you to enter into indefinite contracts. Cryptocurrencies to be mined are BTC, LTC, ETH, XMR, BCH and ETC.
The HashFlare service, which was actively used by miners and was mentioned in the articles as one of the top ones, turned out to be a scam. In 2017, the company changed the terms and conditions of contracts, and completely stopped payments.
Cloud mining is an affordable and optimal way of cryptocurrency mining. It doesn’t require additional equipment costs, so users need to make minimal investments to start making profit.
Blockchain experts will discuss cryptocurrencies at Blockchain Conference Moscow.