Cloud Mining Reviews

BitDeer

Bitdeer logo

Features

  • Many BTC Contracts

Pros

  • Good Prices
  • Part of Bitmain

Cons

  • New Company

Genesis Mining

Genesis mining logo

Features

  • 3% Promo Code: allcloud
  • Many Contracts

Pros

  • Good Transparency
  • Good Support

Cons

Hashflare

Hashflare-review-cryptocoinzone.png

Features

  • Many Contracts

Pros

  • Many Deposit Options
  • Low Minimum Contract
  • Good Support

Cons

Nicehash

Nicehash cloud mining review cryptocoinzone

Features

  • Cloud Mining Market

Pros

  • P2P cloud mining

Cons

  • Has been hacked
  • Complicated

ViaBTC did stop cloud mining products in late 2018.

Questions on Cloud Mining

What is Cloud Mining?

Cloud mining means you hire mining power from a company. For this, they take a maintenance fee (including electrical fee). The rest is yours to keep. The cloud mining contract is highly dependent on mining difficulty and bitcoin price. The investment is high risk. Read more about each cloud miner. Read our Cloud Mining Introduction if this is the first time are in contact with cloud mining. 

Is Cloud mining profitable in 2019?

We will publish an article on this topic in early February 2019.

Can I do Cloud mining for free?

There is no company offering free cloud mining contracts. We’ve got it in some cases but all these companies were scams. Either way, you can use your laptop or gaming PC to mine via Minergate. It’s basically free, you just pay the electricity bills.

Is there any Litecoin Cloud Mining contracts?

Genesis Mining and Hashflare used to offer Litecoin cloud mining contracts. However, they are both sold out in February 2019.

Is Cloud Mining Passive Income?

Cloud mining is a perfect option for Bitcoin passive income. The only active job you need to do is to buy a cloud mining contract. After this, you will get daily payouts without doing anything at all. Also, this type of passive income is not correlated to the stock market and inflation rate. Read more about passive income in our blog post Bitcoin passive income.

How do i invest in Cloud Mining?

An investment in cloud mining is a straightforward procedure. You signup and choose what contract you want to buy. Thereafter, it’s just a simple credit card buy or a Bitcoin transfer. Also, you can read our blog post, cloud mining step by step, if you want a fast guide to make an investment in cloud mining. 

Is there Ethereum Cloud mining?

Genesis Mining, Hashflare and MiningSky offer Ethereum cloud mining contracts.

Are There Any Cloud Mining Risks?

Yes, we have summarized the cloud mining risks below.

Mining Competition: A cloud mining company can always go bankrupt because of bad business. Examples are KNCminer, Mining Sweden and Zeushash.

Ponzi Schemes: There are many fake cloud mining sites. Be careful and invest only in well-known operators. Examples of famous cloud mining Ponzi schemes are Hashocean, Biteminer, Bitcoincloudservices, and much more. Read more about this topic in, How to identify a cloud mining scam.

Bitcoin Volatility: The payouts can decrease when the coin price decrease.

Change of terms: The cloud mining company can change the terms of the contract at any point. This happened with Hashflare 2017-08-30. They even changed the terms on already sold contracts.

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