Need a trust Site Cloud Mining - page 2.

tjtonmoy

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Quote from: btcpepa04 on April 24, 2023, 07:54:48 AM

I want to start a cloud mining any cryptocurrency

Cloud mining is a scam. Never fall for that trap. I am not sure if the genuine one is good or not, but the availability is very slim. Because they can only provide a few. So in this competition, it is really hard to find one. Genuine ones are out of reach, and those which are available are possible scam.
Better to stay away from them as they will only harm your pocket and scam you. Just a suggestion. Do Your Own Research.

Also, don't deposit in any online mining services. If they have a tax and fee on the mining asset, only then choose it. Because if they can provide you free money making process, then they can take the fee from it and give you what they are willing to give you. They will never as you to deposit or anything. Be safe and stay away from scam like this. Invest your time in other things. You will earn more than these cloud mining.

dansus021

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Quote from: BitDane on April 28, 2023, 06:00:15 PM

Quote from: BitMaxz on April 28, 2023, 08:35:48 AM

Quote from: dansus021 on April 27, 2023, 11:24:01 PM

Did Binance offer cloud services ? I just hear it but nicehash and miningrigrental is legit and I have been using it couple of times.

They still do offer cloud mining if you have the Binance app you can find it under earn> pool> then cloud mining.

But I already tried to calculate it and it's unprofitable due to their Electricity cost. So it's not worth investing unless after 3 months we see the price of Bitcoin increase in value by more than 100%.

I also look at the rate, the electricity cost kills the profit IMO. So putting an investment on the Binance cloud mining pool is like a gamble hoping that the price of Bitcoin in the future would double or triple in order to take profit which I think it is better to just buy Bitcoin and wait for the price to surge. At least in the case where we buy BTC directly, we hold the coins and do not rely on the third party for profit acquisition.

I just know after you guys tell me, and yes it actually profitable but razor thing margin and we need 3 month to get return of investment for now it is not worth it too, it is better to buy with DCA technique and maybe the return will more than this.

* Hashrate Fee 0.02 + Electricity Fee 0.0531 = 0.0731/USD/T/Day (the historical output 0.0776/USD/T/Day - Fee 0.0731/USD/T/Day = 0.0045/USD/T/Day

Ultegra134

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I don't understand the whole concept regarding cloud mining, it could be due to it being associated with many Ponzi schemes guaranteeing huge returns, thus, I may be a little biased on whether it's worth it or not. Mining in general has slowed down, in terms of profit, not sure what applies to cloud mining and its options, as it's generally frowned upon.

Binance recently launched a cloud mining service and looks quite decent, it doesn't guarantee you specific returns while it warns you about any potential threats, but provides you with an estimate of your profit. I'd try it with a small amount of money if I were you, use $100-$200 and see how it works out.

BitDane

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Quote from: BitMaxz on April 28, 2023, 08:35:48 AM

Quote from: dansus021 on April 27, 2023, 11:24:01 PM

Did Binance offer cloud services ? I just hear it but nicehash and miningrigrental is legit and I have been using it couple of times.

They still do offer cloud mining if you have the Binance app you can find it under earn> pool> then cloud mining.

But I already tried to calculate it and it's unprofitable due to their Electricity cost. So it's not worth investing unless after 3 months we see the price of Bitcoin increase in value by more than 100%.

I also look at the rate, the electricity cost kills the profit IMO. So putting an investment on the Binance cloud mining pool is like a gamble hoping that the price of Bitcoin in the future would double or triple in order to take profit which I think it is better to just buy Bitcoin and wait for the price to surge. At least in the case where we buy BTC directly, we hold the coins and do not rely on the third party for profit acquisition.

Quote from: logfiles on April 28, 2023, 11:59:53 AM

Quote from: btcpepa04 on April 24, 2023, 07:54:48 AM

I want to start a cloud mining any cryptocurrency

Buy Bitcoin or any other top marketcap coin with a promising future, send the coins to your Hardware wallet and wait

You will way more returns and sending money to this centralized platforms to "make" more money for you. it always ends badly. You are familiar with Ponzi schemes based on your trust ratings. I think you know what I am talking about.

I second this advice.

Weezenhofnar

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It's important to do thorough research and due diligence before investing in any cloud mining site to avoid scams and potential losses.

logfiles

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Quote from: btcpepa04 on April 24, 2023, 07:54:48 AM

I want to start a cloud mining any cryptocurrency

Buy Bitcoin or any other top marketcap coin with a promising future, send the coins to your Hardware wallet and wait

You will way more returns and sending money to this centralized platforms to "make" more money for you. it always ends badly. You are familiar with Ponzi schemes based on your trust ratings. I think you know what I am talking about.

BitMaxz

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Quote from: dansus021 on April 27, 2023, 11:24:01 PM

Did Binance offer cloud services ? I just hear it but nicehash and miningrigrental is legit and I have been using it couple of times.

They still do offer cloud mining if you have the Binance app you can find it under earn> pool> then cloud mining.

But I already tried to calculate it and it's unprofitable due to their Electricity cost. So it's not worth investing unless after 3 months we see the price of Bitcoin increase in value by more than 100%.

dansus021

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Quote from: BitMaxz on April 24, 2023, 09:06:04 AM

I only know 3 of them Binance, Nicehash, and miningrigrentals are currently trusted sites who offer renting hashrate/Cloud mining.

Other sites are most likely scams and even they are trusted all sites that I mention above it is still risky to invest and rent some hash rate compared to buying your own miner.

Did Binance offer cloud services ? I just hear it but nicehash and miningrigrental is legit and I have been using it couple of times.

and OP most of the cloud mining out there is scam believe me sometimes they make their website look tempting by offering free hash rate and discount but you can use your logic that the price of electricity is high If i have the company i would use money for marketing not offering Free hasharte for couple of weeks even a month.

so stay away from ponzi scheme that said they are cloud mining

KiaKia

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Quote from: BitMaxz on April 24, 2023, 09:06:04 AM

I only know 3 of them Binance, Nicehash, and miningrigrentals are currently trusted sites who offer renting hashrate/Cloud mining.

Other sites are most likely scams and even they are trusted all sites that I mention above it is still risky to invest and rent some hash rate compared to buying your own miner.

The bitter truth is Nicehash cloud mining is not profitable anymore, it was fairly good in 2018 but today it's not anymore, I still rent hash power today basically for newly released altcoins, not Bitcoin, I can see that the service is still running, I don't understand how they can manage to stay in cloud mining business, maybe Nicehash have a massive solar energy plantation who knows? Because the main reason why this is less profitable is the electricity bill to run the miners, unless the cloud mining is Ponzi like so many cloud mining companies in 2017/2018.

Some of them end up scamming people while some announced that they are ready to close down the business because it's not profitable anymore. If a company is running a cloud mining service today, it's either they are scammer who doesn't have any mining equipment or they have wind or solar energy with incredible lithium backup to run the whole setup.

Be careful, there is a 95% chance that every cloud mining is a scam, they never have any asic miners or any mining farm.

joniboini

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Quote from: ImThour on April 24, 2023, 11:40:59 PM

I am not sure what exactly they mean by static revenue as I see a huge difference in both of these plans and they both are sold out as of now.

It is just a prediction based on previous historical data if their claim is to be trusted[1]. Basically just a number for promotional material. Don't use them to predict your earnings. Not really surprising in my opinion. If they claim it is a guaranteed reward I'd be worried they're running a ponzi instead.

That being said, I'd advise OP to think twice before you use your coins and lock them on a third-party platform where you can't even see their daily operation. Who knows, maybe they are not mining and are using your funds to do insider trading or something similar. Even if they do mine, they'll always earn the bigger share while you risk a lot of your coins.

[1] https://www.binance.com/en/support/faq/how-to-use-binance-cloud-mining-45849cb6f3a84663b2ffbc5ca3dca716

ImThour

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Bitcoin Bottom was at $15.4k

I don't ever recommend cloud mining and instead of that, just simply buy and hold BTC and I am sure that will be more profitable instead of worrying about hardware and electricity costs.
But still, if you are really into it, I would recommend Binance Cloud Mining service.

Official Website: https://pool.binance.com/en/cloud

I am sure they started providing this service in 2023, which wasn't available earlier. Binance being the biggest Crypto exchange should be the most trusted brand out there for any crypto related service be it mining or staking.

There are 2 plans available:

1. 90 Days duration starting from $5.94 / Static Revenue: 78.46%
2. 60 Days duration starting from $4.38 / Static Revenue: 16.00%

I am not sure what exactly they mean by static revenue as I see a huge difference in both of these plans and they both are sold out as of now. Maybe there is an option to get an email or alert if you are actually interested in these. I would still recommend you to buy and stake rather than minining on cloud. Good Luck!

safar1980

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Nicehash will be difficult even for me to calculate the real profit from renting video cards or ASICs, but I think that it will be more profitable to buy cryptocurrency on the exchange for this price. Genesis-mining has not rented its ASICs for 3 years already.

zanezane

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Quote from: btcpepa04 on April 24, 2023, 07:54:48 AM

I want to start a cloud mining any cryptocurrency

I think I know some of these sites like genesis mining, hashflare and nicehash. Genesis mining offers mining contracts for various cryptocurrencies such as bitcoins, ethereum, litecoin , and more. You can choose between different mining plans with varying hash rates and durations.https://www.genesis-mining.com/

while Hashflare is another cloudmining platform also offers mining contracts for various cryptocurrencies including also bitcoin, ethereum and i think zcash is included. you can also purchase hashpower contracts for fixed duration and mine cryptocurrencies without having purchse and maintain their own mining hardware.https://hashflare.io/

lastly, Nicehash is a marketplace that connects buyers and sellers of hashing power. You can rent out their own mining hardware or purchase hashpower from other user to mine cryptocurrencies. Nicehash also supports a wide range of cryptocurrencies and algorithms, and you can choose between different mining contracts with varying hash rates and durations.https://www.nicehash.com/

Reminder from a friend that while these platforms are popular and reputable, cloud mining can be a risky venture and there is no guarantee of profits. ; )

BitMaxz

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I only know 3 of them Binance, Nicehash, and miningrigrentals are currently trusted sites who offer renting hashrate/Cloud mining.

Other sites are most likely scams and even they are trusted all sites that I mention above it is still risky to invest and rent some hash rate compared to buying your own miner.

btcpepa04

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I want to start a cloud mining any cryptocurrency

Topic: Need a trust Site Cloud Mining - page 2. (Read 522 times)