Investing in Bitcoin cloud mining is the most reasonable step to profit from your cryptocurrency savings. In short, this is the simplified mining of coins, freeing you from spending on the electricity costs, constant soft and hardware monitoring, and other expenses associated with classical mining.
Such a way of earning is suitable for beginners, as well as people who do not have enough money to buy ASICs for Bitcoin mining. Below, we will analyze how to choose a cloud mining service of the most popular digital asset and highlight the well-known and widely used companies.
The first step to earning the most popular cryptocurrency is to choose a platform that you can trust with your money. Today there are three types of such companies:
Hosting – The user rents equipment that is at the company's disposal.
Rent – The miner does not have access to hardware and software; he rents power for cryptocurrency mining.
Shared hosting – The user rents the server and installs the software.
When searching for and analyzing an honest and secure reliable Bitcoin cloud mining company, one needs to consider the following criteria:
The presence of a bonus. Some sites attract customers to distribute free hashrates, which can be used to test the potential of the platform.
Openness. When evaluating a cloud mining company, it is essential to study the history of its creation and development, and to find photos and videos of equipment.
Available capacity. The more hashrate the company has, the better. If the service has a small hashrate, it is quickly bought up by miners.
Prices. An equally important parameter is the cost of services. Differences between different tariffs often reach 30–50%. The price mainly depends on the company's reputation, the availability of additional payments, the demand for the service and other factors.
Equipment maintenance fee. As a rule, Bitcoin cloud mining websites charge an additional cost, which reaches between $5 and $10 or more per month. However, some companies do not take this commission.
Contract time. Before renting capacity, it is crucial to clarify how long the agreement is made. Most often, this parameter is fixed (1-2 years), but some services retain the right to change the validity period, taking into account current trends – market prices, mining complexity, maintenance costs of mining equipment and other factors.
Taking into consideration these features, we selected the top 3 Bitcoin cloud mining platforms in 2019. We hope you can choose the most suitable one for you.
IQ Mining is the company offering BTC cloud mining, and it has been functioning for more than 3 years. The organization’s data centers are located in many countries, such as Georgia, Algeria, Iceland, Russia and others, which testifies to the reliability of the service. Just as at other sites, a personal plan is offered with the possibility of choosing the appropriate capacity.
The IQ Mining platform has 3 contracts for mining the world’s top cryptocurrency: bronze, silver, gold. The difference is that the minimum number of contracts has a higher cost per hashrate and maintenance. Accordingly, the best choice is to buy more power, as it minimizes the cost and increases the profit from mining.
Let’s take into account the termless SHA-256 PRO contracts: 10 GH/s at the bronze level cost $1.5 (minimum contract from 1,200 GH/s); at silver – $1.2 (from 3,000 GH/s); at gold – $0.9 (from 30,000 GH/s).
The site also provides a calculator for calculating the projected yield depending on the number of capacities, the algorithm, costs, etc.
In the mentioned below tables, you can see and compare the payback period, profitability and break-even period of BTC cloud mining.
You can also look at statistics of the SHA-256 algorithm.
One can conclude that the best option that IQ Mining offers is to buy SHA-256 or SHA-256 Pro contracts. The average time of their payback is about 1 year, and the yield is from 80 to 170%.
IQ Mining summed up
If you would like to figure out what cloud mining is, and generally understand the procedure of cryptocurrency mining, then IQ Mining is one of the best solutions of 2019. Buy algorithms with high profitability of the PRO line and your investment will pay off faster.
This is a reliable service for Bitcoin cloud mining, offering various options for cooperation and several tariffs. The user can buy a contract for 1 year or for an unlimited period (in the second case, the cost of services is higher).
The rent of the computing power is made as on other platforms in the form of purchase contracts. They are divided into internal subtypes, depending on how much a potential client wants and what experience with mining he has.
For Bitcoin, CCGmining offers 1-year contracts and unlimited ones.
Below you can get acquainted with the terms of the contracts for 1 year:
The “Mini” contract for getting familiar with the cloud hashing principles – $10,99 for 100 GH/s.
The “Starter” contract – $45,99 for 400 GH/s.
The “Pro” contract: designed for those who are going to engage in mining for a long time and confident in their choice – $1990,99 for 25000 GH/s.
Also, you can see the conditions for unlimited Bitcoin contracts.
To invest or not to invest?
The CCG Mining platform causes user sympathy with the development of the technical component – the project team worked to optimize the process of cloud mining.
The company has two large data centers that are insured against fires or natural disasters. All mining hardware is equipped with additional devices that help reduce the level of electricity consumption. Given these factors, you can add this platform to the investment list of Bitcoin cloud mining.
The Crypto Universe service has recently started to operate but has already proven itself as a reliable one. The project team consists of experienced miners who have decided to use the available experience and knowledge to create this project. A peculiarity of the project is the chance to get a 10% discount on the purchase of mining capacity.
The platform has the following main features:
Only BTC and LTC are available for mining.
Quickstart mining. It begins immediately after payment of the contract.
Favourable terms. The project gives people the chance to invest even with a little amount of investment.
Profit is accrued daily. Every day, the earned coins come to your wallet, which you can withdraw whenever you want.
Currently, Crypto Universe has such Bitcoin contracts:
Crypto Universe conclusion
The company poses itself as a reliable and safe cloud mining ecosystem that is convenient to work with. Despite the fact that it is one of the youngest platforms offering Bitcoin cloud mining solutions, it has already gained confidence among the community. Currently, the platform is actively developing, grabbing the attention of more and more new investors.
So, what to choose?
Before rushing to invest in any of these services, it is crucial to consider all pros and cons they offer. Also, the critical point is to read feedbacks of clients and only after that start thinking about investments in this or that project.