Can everyone Mine Bitcoins? Yes. Try Cloud Mining!

Last Updated on August 11, 2022 by aicrypto

With cloud mining, you pay a cloud mining provider for mining a desired cryptocurrency (or several) with a certain mining performance.

The mining performance, also known as hashrate, is specified in hashes per second (HPS).

What is crypto mining?

Mining is the process by which cryptocurrencies such as Bitcoin and Ethereum are issued. In the process, mathematical tasks, so-called hashes, have to be solved, for which computing power is required.

This computing power is provided by miners, who specially configure powerful mining devices such as GPUs or CPUs and keep them permanently online. In return, miners receive cryptocurrency, such as Bitcoin in Bitcoin mining.

Can I mine with my personal PC?

Unfortunately, modern mining devices are expensive. Their configuration is complex and costly. Updates have to be performed frequently. That is why cloud mining providers have developed data centers with numerous mining devices.

Why do cloud mining providers have lower costs?

Cloud mining companies mostly operate in countries where electricity costs are low. This way, mining can become as profitable as possible. Users can access preconfigured mining hardware via the Internet (the “cloud”) instead of operating the devices themselves at home.

How does cloud mining work?

It’s simple. You pay a cloud mining provider to mine a cryptocurrency. The mining performance, also known as hashrate, is specified in hashes per second (HPS).

There is usually a monthly fee for this. The earned coins, e.g. BTC for Bitcoin mining, go directly into a wallet specified by you.

What do I have to do?

For this, you register an account. Then choose a rate plan with a certain amount of hashrate and specify which cryptocurrency(s) you want to mine.

Monthly plans offer more flexibility. However, with longer subscriptions, you can get in even cheaper. You can usually upgrade or adjust the mining settings at any time.

What are the best cloud mining providers?

We now present the best cloud mining providers. With these companies we have had the best experiences.

ECOS is an excellent and reliable cloud mining site for custom contracts. On ECOS, you will find a huge crypto ecosystem with a wide range of products and services. It is also one of the only fully legal cloud mining providers.

ECOS is located in a free economic zone of Armenia and gets electricity directly from Hrazdan Thermal Power Plant. In addition to cloud mining, ECOS also offers a secure wallet and a well-known cryptocurrency exchange.

We appreciate ECOS for its customization features that allow you to design a cloud mining contract that suits one’s needs.

IQMining was founded in 2017 and has been one of the most successful cloud mining providers ever since. Impressive is the large number of data centers that the company operates in Canada, Georgia, Russia, Algeria and Iceland.

As a user, you can mine not only Bitcoin or Ethereum, but also important altcoins like Litecoin, Bitcoin Cash, Monero, Dash, zCash or Dogecoin.

The tariff model at IQMining works in such a way that you select a specific hash algorithm (SHA-256, SHA-256 PRO, SHA-256 BCH) as well as the desired contract term (1 year, 2 years, 5 years, lifetime).

The hashrate can be set individually on the controller, and the corresponding rate is displayed immediately.

In addition, a forecast of the expected payout per day, week, month and year is displayed. If you have any questions, the English-speaking customer service is available via live chat or telephone all day from Monday to Sunday.

Conclusion: IQMining is a reputable cloud mining provider that convinces with its flexible selection of hashrates and multiple contract terms.

StormGain is a crypto derivatives provider and trading platform. It was founded in 2018. In June 2020, the provider added the innovative “Cloudminer” service.

This allows registered users to operate the Cloud Miner and earn free cryptocurrency via the user-friendly app. The payout is made in USDT (US dollar Stablecoin).

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The only thing you have to do as a user is to open the app every 4 hours and press the “Start Mining” button in the “Cryptominer” section. The minimum payout is 10 USDT. This payout can be used for trading on the Exchange platform. Any profit you earn may then be exchanged or withdrawn

StormGain is one of the best and easiest ways to start cloud mining because you don’t need to sign up for a paid subscription and you can get your first profits after just a few hours.

Why you should try cloud mining

Cloud mining is the perfect option for all crypto enthusiasts who want to get into Bitcoin mining or Ethereum mining without investing a lot of time and money in purchasing and configuring mining hardware.

In advance, a cloud mining calculator can be used to calculate the expected earnings and choose a suitable price package. There are even free mining options.

The main advantages of Bitcoin mining in the cloud are the comfort and the time and cost savings. You can earn money from mining cryptocurrencies for low monthly costs. There is no need for expensive investments and high configuration costs.

Is cloud mining a scam or legitimate?

Yes, it is legitimate and not a scam. It depends on the company you want to invest in and the compliance with the laws of your country. Therefore, you should be careful when choosing a cloud mining service.