Topic: Is cloud mining altcoins profitable? (Read 605 times)
Okay, well thanks for the advice everyone.
I had a look a while back and couldn't find a cloud mining operation that looked profitable and legitimate - so opted for small scale CPU based coins...
In the short term, not likely. If you did mine a newer coin with low difficulty and high initial block rewards there is a possibility that you can make a profit if the coin pumps (IF the coin pumps) but for most of the largest alts (Eth, Monero, ZCash, etc) the cost it would take to find a block isn't worth the investment.
So, assuming I use a legitimate cloud mining company, are there still altcoins worth cloud mining? I know that the rising amount of bitcoin miners makes bitcoin cloud mining relatively unprofitable, but is profitable to mine coins like Litecoin, Monero, Eutherium or the like?
Imho no.
So, assuming I use a legitimate cloud mining company, are there still altcoins worth cloud mining? I know that the rising amount of bitcoin miners makes bitcoin cloud mining relatively unprofitable, but is profitable to mine coins like Litecoin, Monero, Eutherium or the like?
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