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Bitcoin acquisition equipment entails a significant investment in terms of hardware and electricity. Often, it gives potential investors pause when they consider betting on this technology. However, in recent years, technology has now produced the option of mining remotely by renting organizations’ private hardware. You may wonder, “How could this be possible? What does the person renting their equipment gain?”
Well, we are going to give you a thorough answer to that question throughout this article, as well as recommend you the 6 best Bitcoin mining sites in the cloud so you can join this new gold rush.
For sure, you have a foundational understanding of what cloud mining is all about. You are fully aware that you can really make a profit through a remote system. The only remaining question is what the best sites are among the plethora of those offering these services.
Below you will learn about six trusted cloud mining sites, each with different prices, features, and ability to help you profit:
These 2 companies also good choice for cloud mining:
Ecos is a very safe option, offering an entire month to try it out
The cloud mining website Ecos.am is one of few platforms that feature a free mining service to try it out over a month. This free service will give you the gist of how the site works as well as familiarize yourself with everything related to managing your profits, efficiency, and applicable configurations.
Even if you don’t want to sign up by merely punching in your email address, you’ll still have the chance to participate in a 3-day free trial.
The site features a hosted crypto acquisition service and traditional cloud mining. You can also redeem the cryptocurrencies you’ve mined as well as manage them through an integrated wallet.
If you want to be in control of your own farm, you can download their application for Android and iOS, which will show you in detail how the actual process is going. Don’t know what to invest your earned assets in? Ecos.am can offer you various investment portfolios with which you can obtain dividends over time, thus multiplying your profits.
IQMining is a hybrid between a cloud extraction platform and crypto trading, allowing you to trade mined cryptocurrency.
IQmining is one of the most secure and exciting platforms when it comes to crypto mining sites.The site is very easy to understand. Just go to IQmining.com, register with your data, and select the contract that works best for you. We recommend you to rely on the terms of return on investment as well as the estimated profit delivery time when choosing the best crypto miner.
The crypto mining site features contracts available to anyone and contracts for people demanding high profits. The last one concerns those people who are able to tolerate the risk that the cryptocurrency market offers. After obtaining their profits, cloud miners can decide whether they want to invest them in crypto trading or withdraw them to another wallet.
The IQmining interface is very straightforward. On the right side, it offers information on the efficiency and the amount of BTC mined while in the center there is a graph with detailed data on extraction progress.
The platform provides smart contracts that offer the user up to 20% more profit than normal contracts. Along with smart contracts, you can make use of automatic reinvestment of mined cryptocurrencies. It is designed to obtain an excellent return on investment and interest at the end of the year. Besides, the platform proceeds daily payments in Ethereum and Bitcoin.
Last but not least, this cloud mining website features a calculator to help indicate the profitability of the extraction power being purchased. Also, it displays detailed information on the maintenance fee.
Hashing24 provides a particularly detailed assessment of the current Bitcoin profitability, giving users excellent insight into market conditions.
Hashing24 is another platform ranked as the best cloud mining site offering great security when it comes to investing in cloud extraction. The website entails a reliable cloud mining services hub. It features sheds to host others’ physical equipment from individuals or other companies that do not have space to store them on their own premises.
It is one of few companies that has set stakes in the cryptocurrency market over 10 years ago. Currently, it has over 200,000 users that have purchased at least 1 TH/s of processing power.
Of course, the cloud extraction site includes both a calculator providing accurate estimates of the profits and a future price calculator. When the first calculator focuses on your budget and your purchase opportunities, the second one will give you an estimate of prospective profits as well as the difficulty of extraction and the BTC price variations. Every day, the cryptocurrencies that you have earned thanks to the amount of purchased extraction power will accumulate.
Let Me Cloud is one of the easiest services for cloud miners to use
LetMeCloud is another Bitcoin mining site. This contender among the best mining sites details how remote cryptocurrency acquisition works on its website. Besides, it offers a small guide for clients to follow. It can help them decide on the best cloud mining plan based on their needs.
The site includes information useful to every crypto mining cloud beginner, including instructions on how to conduct the process. Moreover, you can study here plans which are best suited for a particular level of budget, how they pay the rewards they gain through extraction, and the cloud mining site’s withdrawal methods.
LetMeCloud provides a fixed income thanks to the fact that it uses a computing power renting method with a fixed amount of Bitcoin mined every day. They clearly indicate the amount of commissions they charge for maintenance and electricity.
Perhaps the only downside of LetMeCloud for both beginners and experienced miners is that letMeCloud is available only to people residing in Europe. However, it allows exceptions you can coordinate through its customer support service.
Attention! We will give due mention to two of the best cloud miner sites. Despite not being fully operational since the last vertiginous rise of Bitcoin, they used to be good variants in the past. They can return to normal operation if the price of the cloud mining cryptocurrency asset reaches the highs it was formerly accustomed to.
Cloud miners have enjoyed Shamining’s competitive Gh/s rates and are eager for its return
Shamining is one of sites that offer two GPU crypto extraction systems. One system has a single GPU, when the second one has two GPUs running in parallel. The price per Gh/s was one of the most competitive in the market and also offered a return of 143%.
The platform also offers Bitcoin extraction using ASIC hardware, with a plan of up to three computers. With this plan, you can get a total of 235 thousand GH/s. Shamining was also one of the first sites to endorse Bitcoin, Visa, Mastercard, Litecoin, Ethereum, and Perfect Money on a single platform, which gives them enormous credibility among the best mining sites.
Cryptouniverse is all the rage among cloud miners with its extensive hardware options, low prices, and generous commissions
Cryptouniverse was another site that delighted crypto enthusiasts in its cloud mining cryptocurrency services, since it additionally offered a wide range of options that allowed people to choose personalized hardware, invite other investors, earn commissions, and teamwork.
Of course, one who just starts with cloud mining sites can also rent for a fixed hashrate at really affordable prices. The same can do investors who already have extensive experience with Bitcoin extraction sites.
It ceased operation in 2021 but its services are expected to resume when the crypto market returns to stability.
In order to understand what sets the best cloud mining websites apart, you must first understand how traditional Bitcoin acquisition works.
First of all, there are two types of cryptocurrencies. These are tokens generated without an unnecessary crypto extraction process as an intermediary step, and mineable cryptocurrencies, such as Bitcoin, Ethereum, Monero, and others. The latter are obtained through minering calculations – sophisticated hardware designed to help them perform such advanced calculation tasks.
Now, such hardware equipment, especially equipment designed for acquiring cryptocurrencies, is particularly expensive. Normally, recovering an initial investment in them is a matter of months, assuming the market favors such a return on investment.
The high electricity bill cost must be factored in, since these are pieces of hardware that consume a considerable amount of power. It also must be operating 24 hours a day to quickly recover the initial investment in them.
On the other hand, this equipment heats up to considerable temperatures as well, which in the long run can end up damaging them. This creates yet another factor to be considered, as you must also take care of the climate of the room they are stored in, tacking on yet another expense.
Thus, here is a recap of all the requirements in order to mine the traditional way:
To address the demanding entry threshold, cloud block attainment has now come onto the scene to greatly simplify all these processes, moving the entire burden to the cloud.
The high entry threshold for cryptocurrency acquisition has led to cloud mining hardware sites like these, helping miners operate for a fraction of what it cost several years ago.
Your only expense as a user is to buy a subscription and wait for the crypto hardware you rented for the technology to do its job and return dividends. In order to start participating in cloud mining, all you’ll have to do is:
There are different types of cloud mining services. So far, there are three types of crypto extraction services that users can take advantage of:
If you have already decided that the best option for you is to rent equipment in the cloud, you need to decide which method is the best.
In this case, a VPS (Virtual Private Server) is used to rent out space on the hard disk of a large server along with a certain processing capacity and RAM.
Now, since you are considering cryptocurrency mining, you need to choose specialized VPS services. This is hardware rental for a fixed amount of euros or US dollars is by no means a low-energy endeavor,
Typically, VPS mining providers include the cost of electricity and equipment maintenance within the rental fee.
The bad news in this case is that you’d better be completely sure which cryptocurrency you want to obtain in using this resource. The thing is you will be paying using a fiat stablecoin (euro or dollar) to obtain a cryptocurrency which can change in value with respect to stablecoins (USDT, BUSD, DAI, among others).
If the price of the cloud mining crypto asset falls, you may go into the red. However, if your hunch is correct and the price of that cryptocurrency climbs, you will claim a substantial profit. This is done using hardware that you do not even have to own or take on the high investment and maintenance that go with it, paying instead a fixed monthly price.
Now, in the hardware you rent, you are dealing with a piece of equipment that may vary in terms of cloud crypto mining performance. If you sign up, you can count on a safe level of monthly profits.
Unlike banks, which print money as the country’s economy flows in order to keep it stable, the Bitcoin network, like other cryptocurrency networks, allows users to perform a cloud bitcoin mining process. It pools together new Bitcoin blocks and distributes them among all those who participated in the calculation process.
Now, not all teams that participate in the calculation of a new BTC block are going to receive the same reward. They all receive rewards according to their contributions to the hunt. A person with Antminer equipment specially designed to mine will receive a greater reward than a person just running 3 computers, even though they have an i9 processor or better.
Furthermore, the challenge in striking BTC will vary and things may occur to limit the reward that the team gets. If you want to avoid this, you must sign up for a cloud crypto extraction service to provide computing power, which assures you a fixed hashrate. That is, as soon as you sign up for the service, you will always mine at the same power level.
At the time of the writing of this article, the Bitcoin hashrate is 119 EH/s, one quintillion hashes being processed every second. This parameter is so high that most normal computer equipment has no chance at obtaining profits through the traditional route. Only large farms are able to cope with the task. Enter the service of renting equipment by computation, where you directly buy the hashrate you want to have. You thus ensure that you pay with predictable profits in mind.
The last type of cloud based crypto mining is known as “hosted mining”. It is a service entailing a location some distance removed from your home where you can mine with your own personal equipment you bought.
With this solution, you need not create an additional space at home to store the equipment. You will also avoid having to listen to the constant sound of the equipment and you will be able to save in terms of electricity cost, which is usually somewhat cheaper in the places that house such equipment.
In addition, the large sheds used for hosting feature perfect climatic conditions to prevent equipment’s overheating and rapid deterioration. Now, on top of that, there are two other variations of hosted mining – rental-hosted sites and virtual-hosted sites.
Whether you are an experienced guru or you are just starting out in the world of cryptocurrency, it is always good to refresh things you know. It will help you to maintain a solid foundation for your business.
Before we move on to reveal the top services we recommend for starting your crypto cloud mining business, there are some basic concepts you need to be familiar with..
This is a form of Bitcoin mining using the computing power of a shared graphics card to perform the process.
Currently GPUs are used to mine any type of compatible cryptocurrency which are easier to mine than cryptocurrencies like Bitcoin which dominate the market in terms of capitalization, which call for ASIC equipment.
You can use GPUs to mine cryptocurrencies like Monero, Electroneum, Litecoin, Ethereum Classic, Ravencoin, and Zcash. A cabinet with several graphics cards connected to each other is typically required to achieve a computing power high enough to report significant gains within the crypto mining sector.
ASICs are used to produce the high amount of power necessary to acquire Bitcoin
ASIC stands for “Application-Specific Integrated Circuit”. It means a circuit which has been created for a certain purpose and will serve no purpose other than that purpose.
When it comes to an ASIC, they are manufactured solely to offer computing power for Bitcoin acquisition. One such example available on the market is Antminer equipment.
ASIC miners can hash SHA-256 type algorithms, the algorithm Bitcoin calls for, as well as Equihash, which is what Zcash requires.
ASIC equipment is much more effective than equipment that mines using GPUs or CPU, representing the best way to practice hunting for digital cryptographic assets. In fact, in many cases, ASIC equipment is what you will be renting in cloud mining services.
CPU is the Central Processing Unit that is included in any intelligent equipment designed for data processing, whether it is a cell phone, PC, video game console, or other devices. Such a processor can be used to perform complex cryptocurrency calculations, but the method has already become outdated.
Years ago, one could consider CPU as an option. However, companies that wanted to make large profits in a very short time created the ASIC and GPU systems.
This left CPUs the odd ones out in the competition. In fact, a CPU can actually get damaged due to the high temperatures and workload. It can endure this attrition before it actually manages to mine a significant amount of the selected medium or high difficulty cryptocurrency, as when cloud mining Bitcoin.
At present, new cryptocurrencies may surface that can be mined by CPU and whose algorithm is incompatible with GPUs and ASIC hardware. This would be the only way that the CPU method could become profitable.
Now we enter into the validation methods that exist (not the types of hardware used). There are two specific methods that enjoy the greatest popularity, one of them being Proof-of-Stake (PoS). It has evolved to cover for some of the flaws of the original “Proof-of-Work” method.
The philosophy of PoS consists of the validation of the blocks through nodes. However, the network is responsible for choosing automatically which nodes in particular will validate said block. At that point, these nodes must meet several points to be selected for such important work.
The selected nodes are able to validate transactions on the network or create new blocks of cryptocurrencies, being a considerably simpler process than PoW.
The type of PoW mining or Proof-of-Work is one type of mining. It entails a piece of hardware capable of calculating complicated mathematical equations striving to solve them and earn fractions of Bitcoin as a result of its work.
People and companies with equipment operating through PoW validate transactions on the blockchain, enabling its normal functioning. Thus, without miners there could be practically no validation of transactions on the Bitcoin blockchain.
Of course, hunting for crypto online comes with flaws that we are all aware of. So, a perfect solution is to rent cloud equipment that operates using this methodology and is in a safe and legal place to carry out the act of Bitcoin acquisition.
Now that you know the basics of acquiring crypto via the cloud, you may have some interesting questions you’re eager for some answers in your search for the best mining site. We answer them below:
The legality of the service depends entirely on the location where this activity is carried out. Certain countries have established that you must apply for a permit to mine Bitcoin. Doing so without permission is illegal. Besides those, there are also countries where this method of acquiring Bitcoin is outlawed and no permits can be applied for.
There are professional companies that either rent their spaces for the clients’ mining equipment or offer rental of their own equipment. Besides, there are shell companies that assure you they are trustworthy and work well, when everything is a façade in reality. That’s why you should register and use services recommended by experts, such as those recommended in this article.
Profitability depends on market stability. If you invest, for example, about a thousand dollars in hash power and recover that investment after 8 months, the rest of the year will be all profit.
However, if the price of Bitcoin falls in the middle of the year, you may not only return your investment but also take a greater loss.
You do not like listening to the noise generated by ASIC systems with your operation going on at home or at work. You might also not have enough space or the ability to keep that room cold 24 hours a day. If either of those is the case, opt for one of the Bitcoin mining sites.
You won’t regret that decision, as you won’t have to invest thousands of dollars in equipment. You won’t have to set it up, and you won’t even have to maintain it.
Still not convinced which of the best cloud mining sites to choose to start cloud mining Bitcoin on? You can visit any of the sites that we have recommended and use their reward calculation systems. That will tell you which site offers you the best ROI, giving you the ability to quickly decide where the most profitable cloud mining is.
Also, remember that some of the sites we recommend have interesting options to test the system without having to invest first and these sites can be found on crypto sites like ORDB.org. You can thus familiarize yourself with projected daily earnings and monitoring tools before finally taking the last step of deciding whether or not to invest in particular crypto mining sites.
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Analytics Insight® is an influential platform dedicated to insights, trends, and opinion from the world of data-driven technologies. It monitors developments, recognition, and achievements made by Artificial Intelligence, Big Data and Analytics companies across the globe.
Disclaimer: Any financial and crypto market information given on Analytics Insight is written for informational purpose only and is not an investment advice. Conduct your own research by contacting financial experts before making any investment decisions, more information here.