Cloud Mining Comparison
Cloud mining comparison: the pros and cons and most reliable providers in 2018
Cloud Mining Comparison – The investment in cryptocurrency cloud mining is the most reasonable thing for the preservation and enhancement of your cryptographic assets at the beginning of 2018. In a nutshell, it's a simplified mining method for Bitcoin and Altcoin that frees you from the cost of electricity, around the clock monitoring and software configuration when mining on your own.
Cloud mining is the process of generating Bitcoins and Altcoins at the expense of processing power, but without the use of your equipment. Cloud mining leases devices from service providers (companies) that have high-performance data centers with cryptocurrency production farms.
Cloud Mining Comparison – The most popular and reliable cloud mining service providers
HashFlare: The best option, combining proven reliability with years of experience in cloud mining, offers the lowest prices and the highest computing power. The company is based in Europe, in Estonia and Iceland.
HashFlare's cloud mining contract tariffs offer the best deals on the market in January 2018:
- Bitcoin (SHA-256 algorithm) – $2.2 10 GH / s (the cheapest prices in January 2018)
- Litecoin (Scrypt Algorithm) – $7.5 per 1 MH / s
- Ethereum (ETHASH algorithm) – $2.2 per 100 KH / s
- Zcash (EQUIHASH algorithm) – $2 for 1 H / s
- DASH (Algorithm X11) – $3.2 per 1 MH / s (the most unfavorable tariff, choose other contracts)
Genesis Mining: As one of the oldest and best-known services, Genesis Mining has no problems with calculation and payment, but fares slightly worse than HashFlare in a number of parameters (prices, capacity, interface). The company is based in Iceland.
Cloud Mining Comparison – What is cloud mining?
Cloud mining is the mining of cryptocurrencies such as Bitcoin, Litecoin, Zcash, Dash, Ethereum and others (totaling more than 1,300 Altcoins) with a dedicated cloud service. This is a new mining earnings model that creates a group of mining pools with only one goal: to create more revenue. The cloud mining providers solve all issues with technical and software components and offer you their individual account management.
The profitability of the cloud contracts is ensured by the fact that the companies themselves are usually the producers of the production miners (ASICs). This significantly reduces the cost of service and the cost of mining. Consolidating ASIC data into large data centers reduces maintenance costs. Thus, this working model benefits all parties as it significantly increases the profit margin and generates a larger profit.
In other words, a particular company produces or acquires facilities for mining and then sells the computing power to its customers. At the same time, the maintenance of the equipment, the cost of electricity, the configuration and connection to the Internet are borne entirely by the company.
Cloud mining services relieve customers of the majority of problems and difficulties associated with the production process, which include:
- Network disturbances of the Internet and the mains power supply (no downtime)
- Installation and maintenance of equipment in a technically perfect condition (the paid service is constant)
- A high level of noise and heat (no need to cool the room), legal issues in the area of legislation and taxation (relevant at the end of 2017).
Cloud Mining Comparison – The top 5 most reliable and largest providers in cloud mining
In this cloud mining comparison, you'll find proven providers that offer cloud cryptocurrency services in the form of contracts. The contract provides cloud capacity that you choose yourself, and the wealth generated from the mining is your daily profit.
HashFlare: This is undoubtedly the best pool for cloud mining in early 2018. Hashflare (Link from the editor: www.hashflare.io ) has the highest yield, at 200 percent of contract value, but most importantly, has a flawless reputation. Trust is arguably the primary requirement for the cloud mining service, as profit is present in all services, but not all can be trusted.
Genesis Mining: A well-known service for cloud-based mining of Bitcoin and other advanced cryptocurrencies – through the Cloud Mining Comparison. The high level of trust is attributed to impeccable feedback from the miners themselves. Particularly worth mentioning are the daily payouts, as well as numerous photo and video confirmations from their huge data centers.
BitMiner: owns several large data centers with ASIC devices. Like most cloud-based mining services, they not only sell Bitcoin mining contracts but also contracts for other cryptocurrencies. You get a whole list of algorithms that you can mine, and the purchased capacity can be sold at any time on the stock exchange. High profitability and good prices.
OXBtc: offers very good contracts for your money. They sell cloud-based Bitcoin and ether mining, and sell the ASICs themselves, which you can mine with. There are two types of deposits – current and fixed. If you maneuver between the two, you can quickly recover the funds you’ve invested. Sometimes, vouchers are given with discounts for capacity, and other bonuses.
Hashing24: less preferred to the first two services in the list, aggregates the performance of third-party data centers but also works stably.
Cloud mining comparison – conclusion
At the moment, cloud mining is the only way to minimize the investment risks associated with mining a cryptocurrency. This is a modern solution for users who trust the stability of the selected payment currencies and do not want to go through the process of creating a farm and taking on the responsibility of the maintenance of a noisy installation.
In fact, cloud mining services are analogous to equity investments, but with much better forecasts regarding their prices. Given the general trends in the Bitcoin market, your contract will likely be profitable, with a high percentage of probability within this Cloud Mining Comparison.