On Tuesday (April 27), although Bitcoin’s spot trading volume was below average, the price rose and managed to stay above $55,000. At the same time, the price of Ethereum reached a record high of nearly $2,700 after experiencing three days of strong increases, helping the dominance of cryptocurrency return to the level of February.
From last weekend to Friday, Bitcoin has experienced two rounds of rapid diving. At one point, it fell by nearly 20% from its previous historical high of close to 65,000 U.S. dollars to near 48,000 U.S. dollars. Although this has caused hundreds of billions of dollars in market value to evaporate, some analysts have claimed that the possibility of Bitcoin rising to 100,000 US dollars before the end of the year has not diminished.
Bitcoin today is 55,492 dollars, 24H volatility +3.14%
Ethereum’s stable currency price to the present circulation is also constantly reaching new highs
Ethereum today is 2699 dollars, 24H volatility +6.67%
Cloud mining- the best choice
If you want to make money safely in the currency circle, I am afraid that there is only mining now! Returning to the essence of mining is the foundation of the blockchain, and there is no doubt that mining is undoubtedly the lowest cost and fastest way.
Mining is not afraid of boring the plagued by skyrocketing and falling. In short, as long as the hash power is in hand, coins will arrive in the account every day! And cloud mining is currently the only way that the public can also participate in mining your Bitcoin and Ethereum!
This mining mode does not require the purchase of mining machines, because it provides a mining hash power rental platform. Users do not need to purchase expensive mining machines and look for cheap power resources and mine custody maintenance. They only need to lease the mining machine’s hash power. You can mine your own Bitcoin and Ethereum with your strength.
If you are interested in cloud mining, I’ll introduce some platform for you briefly. I will talk about the most favorable contracts on these platforms.
Some cloud mining platforms
Genesis mining was founded in 2013, making it one of the oldest Bitcoin companies around. It’s definitely one of the most well-known companies when it comes to cloud mining.
According to its website, the company serves over 2 million customers from over 100 countries worldwide. The company’s mining farms are located in remote, cool locations such as Iceland and Sweden.Genesis has a publicly known mining farm set up in Iceland.
I’m going to run my calculations on the “Platinum” plan from Genesis, which is also labeled as the “best buy”.This contract will cost $986.50 and will give me 77 TH/s of mining power which sounds pretty cool. The contract lasts for 6 months and has a maintenance fee of 3 cents/ TH, per day. In other words, I will pay $0.03*77*6*30 = $415.80 in fees for the lifetime of the contract. Now let’s see how much money I’ll be able to generate from it. To answer this I’ll use some Bitcoin mining calculator. Using today’s difficulty and exchange rate I will plug in 77 TH/s as my hashrate and get the following results:
So after 6 months, I’ll make around $1,036.28. Now let’s subtract the expenses to calculate my profit:1,036.28 (total revenue) – 986.50 (contract cost) = $ 49.70. To sum it up, I’d be investing $986.50 to earn $49.70 after 6 months.
HashFlare is a company owned by another company of crypto experts called . While in the past you could actually see who the team members were on the “About” page, the company has since removed any personal information about who runs the company. Luckily, the Internet The website seems to have launched its services somewhere around the beginning of 2015, and since then it has grown immensely. The current rough estimate is that the site hasThe company itself, Hashflare LP, was registered in the United Kingdom in late 2015. HashCoins or Hashcoins OÜ was founded in 2013 in Tallinn, Estonia.
HashFlare allows you to buy three different types of cloud mining power (also known as Hashrate). SHA is for mining Bitcoin. Scrypt can be used for mining Litecoin, and ETHASH is used for mining Ethereum and Ethereum classic. I’ll focus only on Bitcoin cloud mining because I think it’s beneficial, and the same process can be applied to any other mining algorithm.
The most efficient miner today for mining Bitcoin is the Antminer S9It produces ~13 Th/s of mining power.
Buying the equivalent of this on HashFlare would cost you $1,040 per year. Buying the actual miner would cost you ~$853.This actually makes sense because if you bought just the miner, you’d have additional expenses on electricity, cooling, and storage.
Using a Bitcoin mining calculator, I found that 13 Th/s in a “vacuum environment” (meaning no electricity costs, no mining pool fees, etc.) will produce $222 each month. It’spretty profitable – I’ll probably break even within five to six months.
A simple calculation of HashFlare profits would be something like this:$222 *12 – $1,040 = $1624 per year.
MVU Cloud Mining
The MVU cloud mining (mvu.com) has a global deployment of mines around the world, and has invested in several large-scale mines and IDC computer rooms in Asia. The main hashrate is mainly distributed in power resources Sichuan/Yunnan/Xinjiang/Inner Mongolia in China, as well as Kazakhstan/Russia.
The goal of MVU is to make cloud mining not only to cryptocurrency enthusiasts, but also for ordinary users. MVU greatly reduces the input cost of cryptocurrency miners through the method of sharing miner hashrate. There is no need to purchase expensive equipment, and there is no need to waste time for setup and maintenance, so that everyone can participate in cryptocurrency mining.
Currently MVU provides us 4 contracts. MVU allows you to buy three different types of cloud mining power. SHA 256 for mining bitcoin , ETHASH is used for mining Ethereum, FIL is for mining filecoin. I’ll focus only on ethereum cloud mining, because for me I think its two contacts about eth is very beneficial for both novice and others.
In the current MVU platform, you can currently get about 0.054 ETH for a hash rate of 280MH/s, which is equivalent to $14.5. Here is a digression, the newcomer to this MVU cloud mining platform can get the 280MH/s contract for three days. It will only cost you $29. If you buy 280MH/s by yourself, you should cost $4480. But ETH is still growing. You can get $14.5*3-$29=$14.5
In the current MVU platform, you can currently get about 0.05734 ETH for a hashrate of 200MH/s in 14 days, which is equivalent to $145.(0.05433*$2669) The contract only cost you $99. You can get $46 after 14 days. And ETH is still growing. Anyway, it’s very cost-effective.
Finally, for newbies, I would recommend MVU, because the two contracts I mentioned here are short-term contracts. You can practice first. Of course, no matter what, you still need to make the final decision yourself. I wish everyone a fortune in 2021