Bitcoin mining gained a lot of attraction from people around the world who wanted to have even just a piece of Bitcoin. The cryptocurrency mining industry reached new levels with Bitcoin’s bullish price movements that went for quite a few months. As time goes by, mining is becoming a highly speculative investment but it undeniably offers a cost-effective way to own a cryptocurrency, not just Bitcoin. Moreover, cloud mining is another innovative way to mine bitcoin.
What Is Cloud Mining and Its Importance
After China banned crypto mining, the U.S. and Kazakhstan are the new mining industry leaders, currently owning the majority of crypto mining projects that utilize some of the most advanced mining rigs. But unfortunately, the mining difficulty has increased, and it has become too expensive and hard to maintain. Nevertheless, there is a solution to it, known as cloud mining. By paying considerably small fees, users can remotely avail mining capacity of a chosen hardware in a particular data center owned by cloud mining companies.
Cloud mining brings its own importance to crypto and bitcoin mining. Just like cloud storage or cloud computing solves the issue of storing huge data. Similarly, cloud mining helps anyone interested in earning rewards without owning costly mining equipment, buying real estate, and getting into costly maintenance and repairs. With cloud mining, participants usually either lease mining rigs or rent hash power. Moreover, the availability of remote mining rigs and servers in locations with access to cheap electricity and a cooler climate adds additional advantages.
Below we present a glimpse of the top, most profitable, and best cloud mining projects:
There are several cloud mining services available online that offer a unique way to partake in cryptocurrency mining without owning a mining rig. Cloud mining is a portable and convenient way to profit from crypto mining these days, when mining rigs are quite expensive. Shamining is one of the best cloud mining projects that mines Bitcoin without any hassles on behalf of its client. Through this platform, people living in any part of the world who have limited or no knowledge about Bitcoin mining can make a profit by choosing a miner that fits their budget and let it mine for as long as they want.
Shamining has been in the business since 2018 according to its website and currently operates three data centres situated in London, Cape Town, and San Jose. Thousands of investors have been using their online platform in return for daily profits.
They also provide a 37% bonus on the first deposit!
Eobot is not a new name in this industry as it has been providing cloud mining services since the year 2013. It is a registered company based in California, but nothing is known of the team behind this operational company. The official website has the detailed information required to start cloud-based mining through Eobot, but there are no photos or office addresses available. Like many other cloud mining projects, Eobot also provides mining contracts for a certain duration that ranges between 24 hours to 10 years.
Before signing up for its services, potential clients can estimate the fee through an online calculator available on the website. It also shows daily profit in exchange for the hash power they choose to purchase from Eobot. Anyone can buy cloud-based mining contracts from this provider via Bitcoin, USD credit card, or even e-pay. But it is recommended to research the site thoroughly before involving anything related to crypto.
Marko Kobal and Matjaž Škorjanc founded NiceHash in Maribor, Slovenia in the year 2014. This hash power broker marketplace is one of the largest of its kind. People can buy or sell computing power to start mining cryptocurrencies directly through the NiceHash service. Unlike the aforementioned mining projects, this service also supports crypto trading. Since NiceHash caters to different kinds of customers (such as traders, hash power buyers, and sellers), its service has expanded over the years.
Though NiceHash does not offer cloud mining solutions the technology used can run and solve various cryptocurrency Proof-of-Work hashing algorithms. NiceHash supports the cryptocurrency ecosystem by indirectly contributing to a new coin creation and transaction validation process.
Hashflare is another successful multi-cryptocurrency cloud mining project that some enthusiasts prefer to use. It is a long-time player in this sector and has been available to clients since the year 2015. Hashflare is a subsidiary of the Bitcoin mining equipment manufacturer, HashCoins. Owing to HashCoins cloud mining provider has a fleet of top-quality mining hardware located in a data centre. Around 2.5 million users prefer this cloud mining service to buy hash power of different types of SHA-256 and Scrypt-based cryptocurrencies such as Ethereum and Zcash.
Hashflare is also known for its feature that allows one to choose their mining pool based on their preferences entirely. You will find this service to be extremely transparent about its fees and other payment-related information but the only cause of worry about Hashflare is its consistent downtime. A few months ago, mining contracts went out of stock for new customers, and currently, their website is under maintenance.
This company has been providing a trustworthy, quick, and convenient investment since 2013 in the form of bitcoin mining contracts. Genesis mining caters to mining enthusiasts across the globe through its website. It is one of the largest hash power providers for not only Bitcoin but also various altcoins also. So if you are looking for a reputed hash power provider which allows you to diversify and decrease the risk of investment, then Genesis mining should be your first choice.
Upon accessing their website, one can get familiarized with different mining contracts packages and their pricing details. Though it may seem a little expensive, this provider offers great ROI and support.
Cloud mining offers some advantages over the traditional way of Bitcoin and crypto mining. Thus, instead of spending money and time in the traditional way of mining bitcoin and other cryptocurrencies, people nowadays are paying a small fee to use the cloud mining method. It helps let experts handle the complexity of mining hardware and its maintenance. However, people must do research and inquiry about cloud mining projects or services before investing to prevent the chances of fraud or scam.
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