Recently, the enthusiasm around the mining of Bitcoin remains as strong as ever with a rising mining difficulty and more miners coming into the fray. However, Bitcoin mining requires technical knowledge, expensive and expert equipment, and high electricity costs, making it difficult for ordinary people to make a profit from mining. This cloud mining model was born in such a situation.
In this article, we will go through what cloud mining is. The point is, we will present a handpicked list of 8 Top Cloud mining companies, along with their attractive features and website links.
What is Cloud Mining
Cloud mining is a mechanism to mine a cryptocurrency, such as bitcoin, utilizing remote hardware with shared processing power. You can take part in a mining pool and purchase a certain amount of “Hash Power”. An equal proportion of profit is distributed among all the participants who take part in the mining pool on the basis of allocated hash power. It allows you to mine cryptocurrency without installing any hardware. There are many companies that do this hard work for you and participate in cloud mining for you at a very basic cost.
More and more investors are opting for cloud mining because it doesn’t require any setup or installation costs, as hosting centers provide their own bitcoin mining equipment that users can buy and run at their location. This service only charges a one-time setup fee. At the same time, there are many risks in cloud mining. The user does not own the device and cannot sell it. Some people can’t point the hash rate to the mining pool they choose. Companies with no reputable reputation can go bankrupt with investors’ money without any warning. If the hash rate is oversold, they may not be able to compensate.
While there are many issues to deal with when finding a secure cloud mining service, every investor should always consider benefits and risks, just as such a venture is any regular stock investment. Investors should do thorough research before investing to avoid choosing the wrong cloud mining service.
Top 8 Cloud Ming Platforms
Freemining is a verified Bitcoin mining platform. This cloud mining service is available to everyone and provides an instant withdrawal facility. It is considered by investors to be one of the best mining tools and can be launched as soon as a user signs up and make a confirmed payment. Another advantage is that this platform charge no hidden fees, and every single transaction is visible to you. Freemining also offer a high commission affiliate program which consists of 5 levels: 8% – 3% – 2% – 1% – 1%. Furthermore, you can earn more with a lucky game. Free 3 spins for new users. You can also upgrade to get more spin.
Genesis Mining is a tool that offers cryptocurrency mining functionality. This application provides a variety of mining-related solutions. It also offers an effortless way to mine digital currencies. To use this Cloud mining provider, you do not need any prior experience in mining or trading in cryptocurrencies. Through the platform, users can get the fastest Bitcoin mining hardware at data centers. You will not wrestle with rig assembly and hot, noisy miners at home. Besides, you can mine any cryptocurrency available in the Genesis catalogue and switch your mining power on the fly for all the crypto coins using Genesis Mining.
Miningecos is a legally established platform that offers real-time data about mining activity. To have real mining equipment installed is necessary to mine BTC. The miners need to be maintained (and repaired if needed) and supplied with electricity. All this is fulfilled by Miningecos staff and is included in the service fee. You rent the hash power provided by their equipment and daily receive your payouts to the account dashboard, to which you have full access 24/7. The revenue from sales of mining contracts is spent on new modern equipment to expand the current data centers and to build new ones. Miningecos aims to become the leader in the cryptocurrency market. After you purchased a contract you start receiving revenue in BTC, the cryptocurrency, the exchange rate of which is growing. The service fee is taken for equipment rent, maintenance, repair, electricity supply.
HashNest, founded in 2013, is one of the earliest companies to provide cloud mining services and is trusted by more than 400,000 users worldwide.
Hashnest is hosting multiple brands of miners, like Antiminer S17, S15, Z11, Whatsminer M21S, M20S, etc. You can mine Bitcoin, Litecoin, Zcash, and Dash here, they will support more cryptocurrency mining in the near future. The cloud mining contracts in Hashnest can last a lifetime, as long as the market persists. It is extremely advantageous for users who want to mine in a long term. Another distinctive feature of Hashnest is that users can buy or sell hash rates freely on the Hashnest market. Every type of hash rate has its own market. For users who prefer to start small or earn extra returns by selling off their hash rates, the Hashnest trade market is always a good choice for you.
Hashing24 is one of the best cloud mining providers for individuals to easily access Bitcoin mining technology. This Bitcoin cloud mining software is easy to use, and it provides 24/7 customer support. Hashing24 was made by professionals for individuals who want to get involved in cryptocurrency mining and it provides a convenient calculator on the website for choosing the best mining contract. As a user, you can get daily payments and get a free mining contract for 1 month after registration.
In late 2016, IQ mining started to provide its services. There are quite positive feedbacks from the customers these days. The company provides remote equipment enabling users to rent them out to join cloud mining. Within a limited time, IQ Mining has grabbed almost 50,000 users. There are three different packages available depending on your wishes and investments-Bronze Packages, Silver Package, and Gold Packages. There are many cryptocurrencies available from which you can choose for mining. The registration is free with no subscription fee. There are smart contracts available to reduce the risks.
MVU Cloud Mining
he MVU cloud mining (mvu.com) has a global deployment of mining farms around the world, and has invested in several large-scale mining farms and IDC computer rooms in Asia, which is mainly distributed in Sichuan/Yunnan/Xinjiang/Inner Mongolia in China that have access to abundant power resources, as well as Kazakhstan/Russia.
The goal of MVU is to make cloud mining not only for cryptocurrency enthusiasts, but also for ordinary users. MVU greatly reduces the input cost of cryptocurrency miners through the method of sharing miner hash rate. 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.
Go to MVU Cloud Mining here.
Launched in 2018, the United Kingdom-based mining field Shamining with its farms in London, San joe, and Capetown is one of the best-suited mining platforms for miners with minimal knowledge of the crypto mining process. The Shamining is engaged in cloud mining provision while using the technology, developed by experts in the IT and cryptocurrencies field. The main product idea is an effective disparate computing resources appliance. We tend to unite investors, including newcomers, on a single platform together. Our customers’ trust is based on obvious evidence: they honestly get their income every day.
Eobot is a cloud mining service provider and crypto exchanger. It was launched back in 2013 in the USA. Since the launch, Eobot has over 2.2 million users with hundreds of thousands of active users daily. It also facilitates real-time trading through various digital assets. Eobot provides innovative mining services for its users with a wide range of tools. It provides a wide range of cryptocurrencies to let the user trade in between.