An integral part of the crypto industry is mining for coins and putting them into market circulation. While this is often done in huge mining farms and with hugely expensive equipment, you can contribute to crypto mining remotely through a process called cloud mining. So, what are the best cloud mining sites out there, and are there any risks?
The Risks of Cloud Mining
Before you get started with cloud mining, it’s important to note the risks associated with it. Firstly, you need to be very careful when selecting a cloud mining website. The majority of cloud mining sites out there are scams, and so it’s crucial that you know your chosen site is legitimate and trustworthy. But, don’t worry, all the sites listed here are above board!
Secondly, different sites offer different profit margins from the cloud mining process. Changes in the market, such as your chosen coin’s value, may affect how much money you can make overall. So, it’s important to research the coin you want to mine.
Despite these risks, cloud mining can potentially be profitable and can provide some healthy side income (remember, nothing in crypto is guaranteed, and you could come out with less than you put in!). So, what sites are best for crypto cloud mining?
Founded in 2015, ChickenFast is a popular cloud mining site that you can trust. ChickenFast uses AI to select the most profitable cloud mining tariff for you by using your desired deposit amount. For example, say you want to deposit $1,500, ChickenFast will immediately calculate your projected daily, monthly, and annual income, and how much power will be required for your plan.
ChickenFast also guarantees the return of your initial deposit and ensures that you’ll be paid every day without delay. You can mine Bitcoin, Ethereum, and Bitcoin Cash using ChickenFast, and there are three premium tariffs you can choose from: Silver, Gold, and Platinum. Be mindful that the minimum deposit amount for one of these is $1,000, which will qualify you for the Silver plan. If these aren’t for you, you can deposit as little as $250.
You also don’t need to worry if you run into any issues when you use ChickenFast, as 24/7 customer support is available. The company also has a focus on eco-friendly mining, which is pretty great, considering the environmental effect that crypto mining has.
ECOS is known as one of the most reputable cloud mining sites in the market right now, and there are a number of things that make it such a great choice.
Firstly, the minimum contract amount is just $75, making it a pretty affordable way to earn income passively. The minimum contract length is fifteen months, though you can opt for much longer contracts that can go for as long as 50 months, or just over four years. The website lets you see how much profit you’ll make on a daily, monthly, and annual basis depending on your investment amount, and how much energy your mining contract will require.
ECOS also doesn’t leave you too limited on choice regarding the coins you can mine. It currently offers Bitcoin, Ripple, Tether, Litecoin Ethereum, and Bitcoin Cash. What’s more, ECOS has its own mobile app, which you can download for both Android and iOS devices. The app is free to download and can provide you with a more convenient experience.
Genesis Mining is another solid cloud mining option that offers a range of different coin options, like Ethereum, Dash, Monero, and Bitcoin. There are a number of mining contracts to choose from, though the availability of said contracts depends on demand. The site also offers a comprehensive FAQ section and customer service support for any and all queries.
Genesis Mining currently has over two million users, making them a hugely popular platform. However, this comes with a downside. Genesis Mining has periods where it doesn’t allow new users to sign up, given that its mining power can only support a certain number of contracts. So, if you’re dead set on using Genesis Mining, you may have to wait a while until they begin taking on new users again. But you can follow them on Twitter to get notified when the sign-up window opens again.
TrustCloudMining was founded in 2018 and has become a well-known cloud mining resource. This site offers three different hash power options: SHA-256, Ethash, and Equihash. Depending on which you choose, the kind of coin that can be mined will differ.
For example, you can opt for BTC mining via SHA-256, but cannot do so for Ethash or Equihash, so keep this in mind before making your choice. You’ll be able to see how much profit each hash power plan can generate on a daily, weekly, and monthly basis so that you can see whether a specific plan is suitable for you.
TrustCloudMining also offers round-the-clock customer service for all your queries and does incorporate some renewable energy into its mining process, but this only makes up for the minority of energy used.
Founded in 2016, IQ Mining is another reputable cloud mining site. There are a number of mining contracts available, some of which differ in hash rate, payout type, income amount, and price. The type of coin that can be mined also changes between contracts. Depending on demand, some contracts go out of stock every now and then, so keep this in mind if you have a specific contract type in mind.
IQ Mining also offers an income calculator so that you can find out how much of a profit you can make every day, month, and year and how much energy your mining contract will require. There’s also 24/7 customer support on offer, so you won’t be left in the dark if you come across any issues in your contract or payouts.
Cloud Mining Is Easy But Has Its Risks
If you’re interested in cloud mining, keep aware of the risks at hand, and ensure you choose a reputable and legitimate website before spending any money. Scammers are rife in this industry, and thousands of people have already been conned. However, if you choose your provider and contract carefully, cloud mining could certainly become a valuable option for you. Who doesn’t love a little passive income?
Want to get into crypto mining but cannot afford expensive GPUs or ASICs? Cloud mining could be just what you’re looking for.
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