Bitcoin Cloud Mining Review 2018

bitcoin cloud mining review 2018A number of people were disappointed when they missed the bitcoin mining wagon before it boomed in 2013. At the time, many believe that bitcoin mining is no longer profitable because it requires electricity and is hardware intensive. To make the matter worse, the difficulty level of finding blocks has been increasing while the reward is decreasing.

Despite this, a number are still interested in BTC mining. For this reason, cloud mining came to life. So, what is cloud mining?

What is Bitcoin Cloud Mining?

Cloud Mining is the process of bitcoin mining using a remote data center with shared processing power. This enables the user to mine bitcoin without managing their own hardware.

BTC cloud mining allows you to invest in bitcoin mining without the hassle of managing your own hardware.

In short, BTC cloud mining allows you to mine but without investing in a hardware and having to pay huge electric bills. It removes the hassle of managing your own hardware.

There are a number of advantages why cloud mining is attractive to those who want to mine bitcoins. But there are also disadvantages, check out the next section.

Pros
  • Quiet and cooler home
  • You are free from constant humming of fans
  • You don’t need to buy an equipment
  • No additional electricity cost
  • No ventilation problems at home
  • You don’t need expertise to mine
  • Time-saving (no need to set up the mining park)
Cons
  • Risk of fraud
  • Opaque mining operations
  • Less fun
  • Less flexible
  • Less payout
  • Extra maintenance fee for the cloud mining company
  • Contractual warnings may cease depending on the price of bitcoin
  • You don’t have control and flexibility

Free Bitcoin Cloud Mining

free bitcoin mining cloudIf you are interested bitcoin cloud mining, there are sites that offer this. I’ll cover some bitcoin cloud mining free sites in this section.


1. Multimining Review

multiminingThis is designed to be an online system that is used to allow any cryptocurrency enthusiast to buy hash power and begin reaping the benefits of bitcoin and altcoin mining. Once you purchase one of the offered mining contracts, you will be entitled to immediately begin free cloud mining for your choice of coins.

Multimining is an industry leading coin mining pool. All of its mining power is backed up by physical miners. This site is designed to earn money from mining without having to do any of the hard stuff.

By using Multimining and its data center around the world, you can mine without consuming too much energy or having to endure the noise of fans in your home. The good thing about this company is that it is legit, but it is still new in the market.

Multimining is a cryptocurrency investment company that is established in 2018. It is based in London and the team includes a group of professionals that are widely versed in cryptocurrency techniques. They are pro in bitcoin mining, blockchain technology, cryptocurrency finance and security. So, you can bank on them when you have any concern about cryptocurrency mining.

Thanks to this, investing in Multimining is completely risk-free.

If you are still doubtful, you can check some of the reviews SiteJabber and TrustPilot.


2. Bitz Free Bitcoin Cloud Mining Review

Bitz freeI understand that some are doubtful about the site’s legitimacy, but this is definitely not a scam. The site shares profits from mining, trading and advertisement incomes to its users. They have been paying their users. So, they are not a scam.

However, they have a different approach. The site uses hacking as an innovative part of the site. So, unlike other cloud mining companies, you can steal GHs from other users. But, you can also be hacked. So, be careful. Every successful hack attempt can decrease your hacking protection. So, you can choose not to hack to defend yourself.

Bitz offers you an original online strategy game which is an actual cloud mining simulation. When using the site, you can choose your best mining strategy, hack other users and overclock your cloud.

If you visit the site, you don’t need to invest because the people behind Bitz Free doesn’t believe that you have to shed money to earn bitcoin. Once you register, you can get 20 GHs for free.

That’s not all, you can also collect bonus to increase your Mining Rate up to 10% or convert them to GHS. The site believes in intelligent mining. You can choose the best mining strategy to maximize your income.


3. Coinmining Review

CoinminingThe site offers you to mine bitcoins “on easy way – cloud way.” They also offer you free 2,500 GH as a bitcoin cloud mining free trial.

This is one of the cloud mining sites that has the most advanced bitcoin miners on the market with great efficiency that lower power cost and maintenance fees. Due to this, you can expect large profits.

Here are some of its features:

Large profit. Low price per GHS and no extra costs like electricity and maintenance so it will give you fast and high profit.

Easy to use. The site has a user-friendly interface. With just a few clicks, your order is ready and you can start bitcoin mining immediately.

Lowest prices. Coinmining guarantees the lowest prices amongst its legitimate competitors.

Fast support. The site has active customer support to ensure that their users’ concerns will be addressed immediately. They respond within an hour and they guarantee that their turn around time would never be longer than 12 hours.

In the next section, I’ll be sharing with you the best cloud mining 2018 on the market. But, mind you, you should always be careful as a number of sites are bogus. Only do transactions on trusted cloud mining sites.

📌Although there are sites that claim to be free cloud mining or offer free cloud mining trials, I suggest that you always take caution. Doing so suggests that they are giving away money and in most cases, they’re a scam.

So, here’s a list of the legit and top bitcoin mining sites.

Best Bitcoin Cloud Mining

A number of websites claim to be legit bitcoin cloud mining. However, not all of them are trustworthy. In fact, a number is a scam. So, you have to choose well when you want to join cloud mining. Here are some trustworthy sites to do business with.


1. Genesis Mining Review

Genesis MiningThis is one of the biggest cloud mining in the market. It’s very simple to use. You just have to set up an account and start mining your first coins using its cloud mining service.

Genesis Mining gets your mining rigs set up and running. So, you don’t have to get through the hassle and inconvenience of assembling hot and noisy miners.

Genesis Mining offers you periodic mining outs to your designated walled. So, you should not delay and start mining today.

Plans and Pricing

Genesis Mining offers you different plans to avail their service. Which are as follows:

  • Radiant Gold Starter (1 TH/s): $285.00
  • Radiant Platinum Best Buy (5 TH/s): $1,400.00
  • Radiant Diamond Professional (25 TH/s): $6,875.00
  • Radiant Custom Plan: $0.00 (not determined)

The pricing above includes the minimum fee which amounts to USD 0.14 per TH/s per day. The amount is fixed and is deducted from the daily mining rewards in BTC. All of the plans have a contract of 5 years.

Costs of contract with Genesis Mining:

  • No shipping cost
  • No custom costs
  • One-time of purchasing the contract
  • Best electricity rates possible.
  • You can start mining immediately
  • Guaranteed 100% uptime and cover system downtimes by using own miners
  • No additional equipment costs
  • No electricity consumption
  • No cost of cooling
  • Hardware is at a remote location you are exempt from excessive heat
  • Hardware is at a remote location, you don’t have to deal with loud noise.
Pros
  • Reputable and legit company
  • Fast support
  • Easy to set up
  • Fixes fees
  • Automatic mining
Cons
  • Doesn’t seem to be profitable in the long run
  • Doesn’t supply full information to users

2. HashFlare Review

HashflareHashFalre is one of few legit cloud mining services that you can trust on. This is an independent company created by the specialist from HashCoins in 2015. In a short time, it has become of the largest providers of computation power for mining cryptocurrencies like bitcoin, litecoin and ethereum.

The company brings mining accessible to both cryptoenthusiasts and common users. The team of engineers, developers and other specialists work together to provide services to over 2, 500,000 users.

Features

  • Instant Connect – You can mine immediate and get your first payout within 24 hours.
  • Instant withdrawal – You can choose the amount to withdraw and receive it instantly.
  • Detailed Statistics – You can view all mining-related information in real-time at any point from any location.
  • Pool Allocation – You can decide which pools you want your hashrate to mine in. This allows you to find the most profitable combination.
  • Fixed Fees – No hidden fees or commissions. Every single transaction is visible to you.
LitecoinBitcoinEthereumZCashDash
SCRYPT ALGORITHM MINERSHA-256 ALGORITHM MINERETHASH ALGORITHM MINEREQUIHASH ALGORITHM MINERX11 ALGORITHM MINER
Minimum Hashrate: 1 MH/sMinimum Hashrate: 10 GH/sMinimum Hashrate: 100 KH/sMinimum Hashrate: 1 H/sMinimum Hashrate: 1 MH/s
Maintenance fee: 0.005 $ / 1 MH/s / 24hMaintenance fee: 0.0035 $ / 10 GH/s / 24hMaintenance fee: NoneMaintenance fee: NoneMaintenance fee: None
Hardware: HashCoins SCRYPTHardware: HashCoins SHA-256Hardware: GPU RigsHardware: GPU RigsHardware: Multi-Factor
Automatic payout in BTCAutomatic payout in BTCAutomatic payout in ETHAutomatic payout in ZECAutomatic payout in DASH
Out of StockOut of StockLimited stockOut of StockOut of Stock
1-year contract1-year contract1-year contract1-year contract1-year contract
$1.80

per 1 MH/s
$0.60

per 1 MH/s
$1.40

per 1 MH/s
$1.40

per 1 MH/s
$3.20

per 1 MH/s
Pros
  • Fixes fees
  • All transactions are visible to you
  • Automatic mining
  • Immediate payouts
  • Flexible pool allocations
  • Instant withdrawals
  • Reinvest function
  • 2-factor authentication for security
Cons
  • Most plans are out of stock
  • In case of wire transfers they charge a commission fee
  • Scare information about pools
  • Severe limitation for credit cards users
  • Customer support is not responsive

3. Mining Rig Rentals Review

Mining rig rentalsThis site is designed to create a faster, smarter and more powerful way to rent or lease cryptocurrency mining rigs. This cloud mining service offers you the opportunity to figure out how mining works, so you can get a feel of it.

But, don’t expect a simple interface. The whole site is not easy to navigate especially for beginners as unlike HashFlare and Genesis Mining, they don’t offer a straightforward plan.

There’s a steep learning curve for beginners to understand bitcoin mining. That’s why using BTC cloud mining makes the experience more convenient as you are not required to learn the details about the rigs and all the other hard stuff.

But when you visit Mining Rig Rentals, you will choose your own rig which is not at all helpful for cryptocurrency beginners who have no idea what the good rigs are. But for those who are knowledgeable enough, you will like it because it includes a lot of filters to choose the perfect rig.

Pros
  • P2P rigs can be rented from miners
  • Free pooll selection
  • Tutorials are available
Cons
  • High fees
  • Complicated user interface
  • Users need to have a basic understanding of mining

Is Cloud Mining Profitable?

is bitcoin cloud mining profitableThere is a mixed reaction whether bitcoin cloud mining is profitable or not. A number claimed that this is no longer profitable.

Coincentral has the same opinion. In fact, according to it, hardware mining might be more profitable than cloud mining.

📌When using hardware mining, one may enjoy a return on investment in 10-15 months. This may depend on crypto prices, electric costs and the type of mining rig you use.

On the other hand, based on the information from Reddit forums, reviews and cloud mining calculator, cloud mining isn’t that popular or profitable. As of May 30, 2018, HashFlare Scrypt and SHA-256 take  3,828 and 3,983 days (or a little over 10 years) to reach ROI on BTC.

On the other hand, some believe in the power of cloud mining. According to them, this is a reliable way to get cryptocurrency if you are not the expert in this field. A number agree that, it’s only profitable if you know what coins to mine. Otherwise, you are taking a risk.

But here’s a review from one user who said that cloud mining is still profitable:

Profitable Cloud Mining

Conclusion

We hope that the list above will help you find the best cloud mining if you are looking for one. If you are really interested to try BTC cloud mining, just make sure to invest in the trusted sites like – Genesis, HashFlare and Mining Rig Rentals.

📌We can’t guarantee the cloud mining profitability. As mentioned some claim that this is profitable while others say it’s not. So, decide for yourself if you want to try this or not.

If you wish to know more about cryptocurrencies, bitcoin faucets and more, feel free to visit our homepage.

 

References

https://www.coindesk.com/information/cloud-mining-bitcoin-guide/

https://multimining.website/

https://en.wikipedia.org/wiki/Cloud_mining

http://dpclassic.org/cloud-mining-advantages-disadvantages-services/

https://medium.com/@yeong.crypto/cloud-mining-a-scam-or-not-eadccaa301bc

http://dpclassic.org/cloud-mining-advantages-disadvantages-services/

https://www.quora.com/Which-bitcoin-mining-is-legit-in-2017

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