Cloud Mining is an alternative to ASIC Mining. There are countries where Mining is not allowed or it’s not profitable. Electricity charges and cost of hardware are much high that everyone can’t afford to mine, instead of mining bitcoin at home they purchase cloud mining which is very easy and simple.
Bitcoin mining is only profitable when you have more than 5-10 GPUs and it cost much more. Cloud mining means you are using someone’s hardware. For example, there is a company that has a mining farm and they allow the public to purchase hash/part of the output. Users get profit from time to time and firms get funds at ones. Benefit for users is that users can earn Bitcoin more than what they expected or estimated, the price of Bitcoin also matters in such conditions.
In my opinion, if you are from countries where mining is not profitable then start mining using cloud mining. Below we reviewed some best cloud mining sites.
The thing of which you need to care is not joining any scam site. There are already many scam cloud mining sites and phishing sites.
Reviews of Best Bitcoin Cloud Mining Site
Genesis mining is one of the oldest bitcoin cloud mining companies or sites. The company is based in Hong Kong but the founders are from Germany. 7 coins are available to mine are Bitcoin, LTC, Dash, ETH, Zcash, XMR, and Monero classic.
Use promo code: KeRypm to get 3% off!
Get your Bitcoin Hardware wallet: best bitcoin hardware wallet
2. Honey Miner
You can choose your hash power, 25 MH/S, 250 MH/S, 2500 MH/S. Anyone can start from 66$ to 23600$. Check rates here.
3. Hash Flare (Not recommended)
HashFlare is founded in the year 2015. The main con is they don’t have about us page on their site, but when I previously check about a year ago they have that about us page. The hashflare company is registered in France.
There is much criticism against this company regarding profitability and reviews, many users say that they have fake reviews.
Conclusion: In many cases, Bitcoin mining either hardware or cloud mining, both are not safe and easy. There are more chances to lose. Instead of starting Bitcoin mining, buy bitcoin.