What Is Bitcoin Cloud Mining?
Bitcoin cloud mining enables users do earn Bitcoins without purchasing expensive hardware, installing software, paying for electricity, or doing Bitcoin gambling; user purchases bitcoin mining capacity generated by a hardware in data center – that’s all.
Bitcoin cloud mining is also known as cloud hashing. Very often, the Bitcoin mining hardware is placed in remote data centers with low electricity costs. As a result users can buy the output of Bitcoin mining power really cheap.
All Bitcoin mining is done in the cloud. As a result, you don’t have to deal with any of the issues that you can face when mining bitcoins such as electricity cost, Wi-fi, heat, software installation, upgrading miners or fixing tech problems. Cloud mining is perfect for newbies and experienced miners alike.
Bitcoin Cloud Mining Pro’s
- No noise or heat to deal with
- No electricity costs
- No bitcoin mining equipment to buy
- No bitcoin mining equipment to sell when bitcoin miner is outdated
Bitcoin Cloud Mining Con’s
- A lot of FRAUD!!!
- Lower profits
- Bitcoin mining contracts can be sold out
- Cloud mining operators can cease mining or payouts if the Bitcoin price is too low
- You don’t have control over the Bitcoin mining hardware
- You don’t have control over the Bitcoin mining software
Best Bitcoin Cloud Mining (Cloud Hashing) Services
Note, the links below are NOT an endorsement of these services. You have to do your due diligence before subscribing to any of the services below. These days, there is a great number of Bitcoin cloud mining scams.
Hashflare: Hashflare offers SHA-256 mining contracts for $1.60/10 GH/s and up.Payouts are automatic in BTC. You must purchase at least 10 GH/s.
Minergate: Minergate offers both merged mining and cloud mining plans for BTC. Registration is free.
Do you use cloud mining services? Please share your experience below!