Topic: Top of the best platforms for cloud mining (Read 363 times)

Because people have mined with both physical hardware and mining contracts before, know some basic math and are not as inexperienced as some of the newcomers cloud mining companies try to sell their contracts to.

Even assuming the hashrate actually exists, offering cloud mining services is merely a way to pass on the majority of the risk of the initial investment on to an unsuspecting customer. Why wait for your mining infrastructure to reach ROI some time in the unpredictable future when you, as a mining company, can get your money right now by selling your hashrate to some easy victim? All that for the added bonus that your targetted userbase is willing to pay more for the hashrate than one may ever expect to make from merely mining in the first place.

It's basic economics, really. Everything else is just a fairly tale.

Why would people believe your nonsense? Cloud mining is as real as ever!

How can traditional mining be better when you have to take into consideration ALL the following aspects:

1. Electricity bills
2. Constant monitoring of hardware equipment
3. Cool environment
4. Low profitability
5. High competition
6. A lot of initial investments

Yes, before proceeding with specific cloud-mining service provider, you will do your due diligence and come to conclusion which one suits your needs!

For example, at MyHashing, our mining data centers are located in Georgia, which is tagged as one of the cheapest places electricity-wise, and its hardware-friendly climate contributes to their performance.

Our rates will also guarantee that the hashpower provided will be sustainable 24/7.

So please remind us once again, why would you turn to something outdated and imperfect, when cloud mining offers hell of a benefits!~

MyHashing will be a unique platform, offering its users LEGITIMACY and AUTHENTICITY which are our main virtues.

Our website will soon be deployed, and our rates published!

In the meantime, you can follow us on Facebook, Twitter, and Bitcointalk ANN.

Oh definitely. I still think it's worth repeating though, in case someone starts doing research of their own beyond YouTube and happens to stumble upon a thread like this.



I doubt it would amount to anything unfortunately. It's a slippery slope for one (a couple years back you could have argued the same about Bitcoin -- in crypto the borders between speculative and scammy are very blurred for an outsider), secondly even the advertisements being run on YouTube have sank to a level where I've seen straight up HYIPs being promoted.

It's incredibly difficult to make people actually listen to what we are saying here. In most cases they jump into cloud mining after having watched paid shills on YouTube praise generating passive income through cloud mining.

Maybe it's time to start reporting these YouTubers on a large scale, because these YouTubers are one of the main reasons newbies still think cloud mining is profitable enough to invest in.

Most people search for cloud mining reviews and demonstrations on Google and then mostly end up on YouTube. YouTube was also a major factor with how paid shills there made BitConnect look like a solid investment.

they cancel the contracts whenever they want, they do not make payments as they should, they are getting rich at the expense of people's money and while people are losing money on contracts that do not generate profits. say: " becoming less effective "? Is unrealistic. The reality is that this cloud mining service is a business that does not generate fair returns for people.


People are wasting time and money. nothing more than this.

and this:

is the key to loss. Many people register in cloud mining sites because of this phrase, this thinking causes many to lose money


convenient for users? It is not convenient, it's a big loss


all are services that only enrich the owners of cloud mining.

With this worst form of invest first what we gonna do with our hard earned money.

Even the top best cloud mining projects are also involved in the scams so there is really not worth to invest on this platform with any sites mate.
Genesis and Hashflare the best one still you are looking means you can take this as suggestion.

It looks like there are still many people are believing in cloud mining. There are many people including me experience different cloud mining sites that I thought can gives me a good profit in the future but since the difficulty increases and the price of bitcoin falling the profit becomes negative instead of making more profit.
Look at the business how it works they are selling hashrate when the price is profitable and then owners get the benefits of gaining profit before the profitability becomes unprofitable.
That is why I decided to build my own rig and mine altcoin then exchange into bitcoin because you own a physical product and anytime you can resell it to get the amount what you invest.
It is not a bright idea to invest in cloud mining site you are just giving them to make more money and the owners are smart because they know what will happen in the future.

Protip for newcomers: Stay away from cloud mining. Worst case you're getting scammed, best case you're getting hashing power for a price that will never turn a profit. Don't underestimate difficulty increases, my friends.

On coinface you have image of coinbase, it turns people into wrong way. This one, Hashtoro and Syntropy was unknown for me.
Hashing24 isn't in business from 2012 year as far as I know, also genesis isn't best (if not worse) provider in world. When people read such reviews, they can think it's good to invest so instead of lying to them, let's say truth and never use word best or good while reviewing cloud minings.

The only way to determine what is a scam or legit cloud mining platform is to use mining addresses as evidence. However, since the far majority of these platforms aren't willing to share any, and you can't find it yourself because these shit platforms aren't mining at all, you can directly come to the conclusion that they nearly all are scamming their customers.

As much as I dislike Bitmain, their cloud mining platform HashNest is the only one from which you can easily find their mining addresses (because they are actually mining), and thus also know to what extent of hashrate their operation accounts for. But even in that case, you're still subject to a scheme that has one core business structure; the house always wins.

No doubt and i do rather believe this is just a simple advertisement of those cloud mining sites and the fact that most people do aware on Genesis and Hashflares existence but basing on the list im not even aware that those cloud mining companies do exist too but well it doesnt matter because no matter whats their current situation in the market it would really still have the same impressions about these cloudmining which they arent really profitable at all.Period


No it isnt and dont let yourself blinded with those too good to be true contracts and possible passive incomes because later on you would really be stressed out when you experience problems.

Just skimming through the latest threads here about Hashflare, there’s a few threads regarding issues with contracts such as this thread and also this thread. There’s one post in the latter thread that states Hashflare is owned by HashCoins, which sold miners to people and mined with the units themselves, never delivering units to the buyers. It seems there’s mixed opinions and responses on the thread linked in the post dealing with HashCoins, but HashFlare does have a somewhat murky past.

I’ll come back if I find more information regarding any of the cloudmining sites. There’s thousands of threads and posts about these various platforms on this forum, and I learn something new every time I click on a thread.

Regarding negative information about Hashflare and Genesis Mining: You can help me with this, I'll add it to the article.  Thanks for the constructive criticism.

I agree with what buwaytress has said so far. Seems like you’re pretty biased towards supporting the cloudmining platforms and you are only listing the positives of the platforms and none or few of the negatives skimming through this article. As a regular browser of this section, there’s a lot of negative information towards some of these platforms, such as Hashflare and Genesis Mining, and that isn’t really addressed except for the notice at the bottom. You also didn’t list Hashnest, Bitmain’s cloudmining platform, which I know is a pretty popular option that’s also bigger than some of the smaller platforms listed here. Everything looks okay here, I just think that there should be some more time invested into the legitimacy of these platforms, as a potentially scammy platform should not be considered part of the ‘top’.

Thank you for your help!  Added your post to my article.  I hope you will appreciate it)

While I would agree you're not responsible for them making good on promises (spoiler alert, they don't), you might want to take a bit more responsibility for writing up about these guys without revealing any of their track records and performance over the past few years. You're also not challenging or trying to validate if their income is real. None of these guys are transparent about anything. Not the supposed pools they're using, nor the equipment they claim, nor the revenue they report.

Search this forum or google "cloud mining scam" and you'll see it's a huge can of worms that surprisingly hasn't been covered by mainstream media.

In theory the idea of pooling resources to operate otherwise costly equipment sounds profitable. But in reality, the inefficiency of accepting funds and then divertiing that to hashpower means you're forever catching up with difficulty and stagnant Bitcoin price.

How about adding all that into your writeup?

I am not responsible for their payments.  Have you tried to write in support?  Did you ask other users if they did not receive payment?

Have you tried all the cloud mining services you wrote? im using genesis mining, i have 2.5 TH/s SHA256, since June 2018 they did not pay me.

For who is really interested in Cloud Mining and Genesis Mining here are quite helpful suggestions.   
Basically, it's a tip to prevent loss.
People who are mining cryptocurrencies they need a guideline. Hopefully, they will follow the instructions.

Really a very good article. Thank you author for spending a lot of time on it. Keep from me merit for your efforts!

While individual mining of cryptocurrency is becoming less effective, users are actively resorting to cloud mining, which allows them to earn cryptocurrencies without buying equipment.

All this is very simple. Mining farms are already collected in data centers: you just have to start mining.

This is especially convenient for users living in countries with expensive electricity, since equipment for cloud mining is usually installed in places where the price for electricity is low.

Here are the best providers of cloud mining services:

Cloud Mining with Genesis Mining



Genesis Mining was founded in 2013 and is probably the world's best provider of processing power for the mining of bitcoins and altcoins, including Ethereum, Dash, Litecoin, Monero and Zcash.

It is important to note that on this platform you can simultaneously engage in the mining of various cryptocurrencies, that is, the user does not need to choose one or the other.

The company claims that now its services are used by over 2 million people, which gives it the right to be considered the world's largest platform for cloud mining using different algorithms.

At the moment Genesis Mining accepts payment by credit / debit cards (Visa and Mastercard).
The conditions are as follows: one application per day, a daily limit of 25 thousand dollars, the minimum purchase amount is $ 10.

If we talk about prices, then beginners can start with a contract of 1 TH / s (Gold), the cost of which is $ 285.  Mining services will be provided for five years, even if the daily reward of the miner will be less than the maintenance cost of the equipment.

If this seems to you a little, you can sign a contract of 5 TH / s (Platinum), which will cost $ 1,400.  The third and largest contract of 25 TH / s (Diamond) is already $ 6,875.  Both contracts are also concluded for five years.

Genesis Mining charges a fixed service fee, which is deducted from all five-year contracts.  Today this commission is 0.14 per TH / s per day.  Although the commission is set in dollars, it is taken from the daily award of the miner in BTC.

Cloud Mining with Hashflare



Since its inception in 2015, HashFlare's cloud-based mining service has remained one of the world's largest suppliers of processing power for Bitcoin, Litecoin, Ether and other cryptocurrencies.  The company claims that its services were used by over 2.5 million people.

On this platform, the mining begins immediately after your payment is confirmed.  First payments are made within 24 hours.  Users can define the pools themselves, in which they want to direct their hash, thereby choosing advantageous combinations.

The site has a simple calculator of investments, with which you can calculate the potential profit.

To start mining on the HashFlare platform, you need to register on their website and create an account there.  HashFlare offers the following types of contracts: SHA-256, Scrypt, ETHASH and Equihash, which are used for the mining of Bitcoin, Latecoin, Ether and Zcash, respectively.

To purchase a hash, you need to select on the scale the volume that you want to buy.  The price for the hashed will be specified in dollars or BTC in a special window under the scale.

The HashFlare platform accepts payments in the following form:
- Translation of BTC
- Payment of invoice in USD by bank transfer
- Credit card
- Payeer

Cloud Mining with Hashing 24



Hashing24 was founded in 2012, and its website says that everyone should be able to access innovative technologies and industrial data centers with laptops or smartphones in order to profit from the development of cryptocurrency.

On Hashing24, a user can rent as many hashes as he needs. You buy on site the computing power and make a profit.

By purchasing the services of this platform, you pay once for the hashed allocated to you, but in addition a commission is charged daily for the use of equipment and electricity.

Cloud Mining with HashNest



HashNest is a platform for cloud mining, where you can mining Bitcoins without your own mining equipment.

HashNest is managed by Bitmain, which produces Antminer miners.  At the moment, HashNest offers to rent more than 600 miners Antminer model S7.

Cloud Mining with Hashtoro.com



Hashtoro.com offers its services to ordinary users interested in the mining of crypto-currencies, as well as to companies that can not buy their own equipment.

At the moment, the total capacity of the data centers of this platform is 35 MW, which will enable the use of 25,000 Bitmain Antminer miners of the S9 model or 40,000 Bitmain Antminer L3 + miners.  The user can only choose the tariff plan and start making money.

You can pay for the mining contract with a credit card or BTC.  The cost of maintenance includes the price for electricity and equipment operation costs. Here are the prices for the hash depending on the algorithm:
- SHA-256 - $ 0.00023 for 1GH / s
- Scrypt - $ 0.0029 for 1 MH / sec
- Ethereum - $ 0.012 for 1 MH / sec
- Zcash - $ 0.00093 for 1 H / sec
- Monero - $ 0.0035 for 10 H / sec
- Dash - $ 0.17 for 1 GH / sec

Cloud mining with Coinbase



Coinbase strives to make mining accessible to all users regardless of their age, location, volume of investment or experience.  The main task of the company is the development of infrastructure for mining and, as a consequence, the development and implementation of bitcoin both as a currency and as an economic system.

Coinbase offers users more than 230 devices for mining; The services of this platform can be used by residents of more than 15 countries.  To date, more than 130 thousand people have become customers of Coinbase.
 
Cloud Mining with Eobot



Eobot claims to be the simplest, cheapest and best mining platform for Bitcoin, Ether, Litecoin, Bitcoin Cash, Dogecoin, Ripple, Dash, Golem, Cardano, CureCoin, NEM, Monero, Zcash, Factom, Bytecoin, STEEM, Lisk, EOS, Gridcoin, and Ethereum Classic.

"Let your computer rest. Our cloud technologies will allow you to earn any crypto currency of your choice. By investing only $ 10, you will immediately start mining, "- says the company's website.

Pay for the services of this platform can be Bitcoins or through Epay.

Cloud Mining with Syntropy Cloud Mining



Syntropy Cloud Mining is the first platform for mining cryptocurrency using the Proof-of-Stake consensus algorithm.

Buying a three-year mining contract, you pay for the maintenance of server equipment for the entire period.

When the total value of all the tokens you get exceeds 0.1 BTC, you can use them to enter into a new contract or change to Bitcoins, paying for it from your crypto wallet.

P.S.

While I would agree you're not responsible for them making good on promises (spoiler alert, they don't), you might want to take a bit more responsibility for writing up about these guys without revealing any of their track records and performance over the past few years. You're also not challenging or trying to validate if their income is real. None of these guys are transparent about anything. Not the supposed pools they're using, nor the equipment they claim, nor the revenue they report.

Search this forum or google "cloud mining scam" and you'll see it's a huge can of worms that surprisingly hasn't been covered by mainstream media.

In theory the idea of pooling resources to operate otherwise costly equipment sounds profitable. But in reality, the inefficiency of accepting funds and then divertiing that to hashpower means you're forever catching up with difficulty and stagnant Bitcoin price. ( THANKS for buwaytress)