BlockGuide.netBlockGuide.net
Open Menu Close Menu
RankProviderPros & ConsFraud RiskCouponTotal RatingLinks
1
HashFlare
HashFlare Logo

Pros

  • Instant connection
  • Suitable calculator
  • Statistics
  • Hashflare Pool Configuring
  • No hidden commissions

Cons

  • Maintenance fee for litecoin and bitcoin
  • Bank transfers fee
  • Short FAQ section
  • There are negative users' reviews
Low

Get 5% Discount Now!

54Frrhgd Copy Code
HashFlare Overall rating: ★★★★★ 5 based on 1 reviews
5 1
2
World-Mining
World-Mining Logo

Pros

  • Multiple payment systems
  • 24/7 support
  • Free 30GH/s

Cons

  • New company
  • Bad reviews
Low

Get 7% Discount Now!

538df Copy Code
World-Mining Overall rating: ☆☆☆☆☆ 0 based on 0 reviews
5 1
3
NuVoo
NuVoo Logo

Pros

  • High security panel
  • Remote management
  • Physical security
  • Redundant power sources

Cons

  • High prices
  • Multiple cloud mining providers belongs to the same company
Medium

Get 15% Discount Now!

845fdaI Copy Code
NuVoo Overall rating: ☆☆☆☆☆ 0 based on 0 reviews
5 1
4
MinerJet
MinerJet Logo

Pros

  • Daily payments
  • 24/7 technical support
  • Affiliate program
  • Rapid and Automatic payments

Cons

  • New company
  • Small amount of information about the service
Medium

Get Your 6% Discount Now!

ite458 Copy Code
MinerJet Overall rating: ☆☆☆☆☆ 0 based on 0 reviews
5 1
5
MinerGate
MinerGate Logo

Pros

  • 14 different altcoins are available in their mining pool
  • Transparent pricing structure
  • Low maintenance fee

Cons

  • Withdrawals are available from 0.01 coins, including bitcoins too
  • The minimum purchase is 20GH/s
Low

Now Available 3% Discount!

458fdk Copy Code
MinerGate Overall rating: ☆☆☆☆☆ 0 based on 0 reviews
5 1
6
HashCan
HashCan Logo

Pros

  • Cheap price
  • Easy to conver to fiat currency
  • User-friendly design

Cons

  • High price for mining
  • Low social media presence
Low

Only Now 11% Discount Available

fdk34 Copy Code
HashCan Overall rating: ☆☆☆☆☆ 0 based on 0 reviews
5 1
7
FFlakMining
FFlakMining Logo

Pros

  • No maintenance fee
  • 15KH/s free hashpower up on sign up
  • No time limit for cloud mining contacts

Cons

  • High minimum payout
  • No information on company owners and founders
  • High risk of fraud
None

Get 4% Discount Now!

fgdf3 Copy Code
FFlakMining Overall rating: ☆☆☆☆☆ 0 based on 0 reviews
5 1
8
CryptoMiningFarm
CryptoMiningFarm Logo

Pros

  • Free 50Gh/s hashrate upon signup
  • Unlimited lifetime service
  • 15% referral bonus

Cons

  • Virtual mining, not bitcoin mining
  • Small amount of information available on the site
Low

Get 8% Discount Now!

TRw43 Copy Code
CryptoMiningFarm Overall rating: ☆☆☆☆☆ 0 based on 0 reviews
5 1
9
CCGMining
CCGMining Logo

Pros

  • A one-time investment program for a lifetime earning (as long as Bitcoin and other altcoin mining exist)
  • Account activation and cloud mining start immediately you buy the package
  • They offer cloud mining for Bitcoin and some other major altcoin to choose your investment option
  • Different package plans that enable you to invest as per your budget
  • 100% uptime guarantee gives you the confidence to cloud mine with them
  • 10 years experience with a growing team of both personal and business clients

Cons

  • No option to convert the currencies and withdraw with an altcoin
  • You need to reach a threshold before withdrawing your earnings (0.002 BTC)
Low

15% Discount Available Now!

reti5423Sfds Copy Code
CCGMining Overall rating: ☆☆☆☆☆ 0 based on 0 reviews
5 1

What is the Best Cloud Mining Service 2018?

Did you know that you do not necessarily need a miner to trade bitcoins? Thanks to the innovative technologies, it is possible to avoid working with miners. Let us discuss everything step-by-step.

Bitcoin Cloud Mining Definition

“What is cloud mining?” To understand it, it is necessary to realize what bitcoin mining is in general. A bitcoin is the most popular digital currency known as the first cryptocurrency in the world. It has made many people rich, so others are interested in taking part in this game as well. However, people are often confused about the way to earn money with the help of bitcoins.

The principles are easier than you may think, but it becomes harder to earn with every new day as the algorithms become more complex with the growth of cryptocurrencies popularity.

Bitcoin mining serves to add transactions to the blockchain as well as establish new coins. The process consists of compiling the latest transactions into blocks and attempting to solve a rather complicated puzzle. The first one to find the solution (a specific number) is the winner. He or she obtains generous rewards that include the coins and transaction fees.

On the whole, the level of difficulty depends on how much efforts are invested across the network. Computational power is the main factor to consider.

In order to trade bitcoins using traditional mining, the person will have to decide on the hardware, software, and some other things. It may be a bit time-consuming and costly to manage personal mining hardware even though it is the safest way to trade. Cloud mining bitcoin speeds up the process without the hassle of controlling user’s own hardware. Just like you use the cloud to store various type of data, you can use it to store and exchange cryptocurrencies of different types: from bitcoin to dash and ethereum.

To make it short, cloud mining stands for applying shared processing power run from distant data centers. All you need is your personal computer or Apple device and a local bitcoin wallet. Be aware that the risks are higher when trading with the help of could mining.

How Profitable Cloud Mining Is

Is cloud mining profitable? Well, it can be as profitable as the traditional mining methods. Experts recommend using cloud mining calculator to work out bitcoin mining profitability for the specific period. Such tools usually take into account fees and mining complexity/price changes automatically.

To define the profitability, a user should specify the electricity expenses and the primary investment in hardware and other stuff before the online calculator estimates the amount. Moreover, you should also consider one-off investments and current expenses. Because the provider is paying the electricity bills instead of the user, just type the mining bill per month in the corresponding Electricity Cost section.

The conversion is not fully straightforward. Multiply the electricity charge by the power consumption of the unit and a conversion factor of 0.744 to find the running cost per month.

Different Types of Cloud Mining

You should also know there are several types of cloud mining with their advantages and disadvantages.

  1. Hosted mining – Leasing special equipment hosted by the provider.
  2. Leased hashing power – Leasing a specific share of hashing power without a special physical/virtual machine. It is the most spread type of cloud mining.
  3. Virtual hosted mining – Developing a virtual private server to set up personal mining software.

The last solution is, probably, the best one today.

Ethereum Cloud Mining, Litecoin Cloud Mining, Monero Cloud Mining… Choose What Fits You Best!

Is it possible to get involved in ethereum cloud mining, litecoin cloud mining, monero cloud mining, or trade other cryptocurrencies with the help of money? Of course, yes!

What you really need to do is to watch the price fluctuations on the corresponding websites and conduct test calculations. After the calculations, it is possible to see that some cloud mining platforms will remain profitable for just several months. It is caused by the complexity level of bitcoin puzzles. You may start losing money in 4-6 months. Thus, you should sense when it is better to quit the game.

A solution may be to reinvest what you have earned by retaining a competitive hashing rate. It may be rather speculative.

Watch out as the risks of fraud are higher when it comes to the cloud mining while such risks are almost excluded with the mining hardware.

Pros & Cons of Cloud Mining

To sum up, analyze the pros and cons of using cloud mining services.

Pros

  • Absence of the added electricity expenses
  • No equipment/tools to sell when mining looks profitable no more
  • Immediate results (updates every minute)
  • No permanently humming fans
  • No ventilation issues with equipment
  • Decreased chance of being tricked by the equipment suppliers
  • (Cloud SHA-256) SHA-256 algorithm, 1.0 GHS per 1.0 cloud instance owned
  • (Cloud SHA-256) Sticks to the Bitcoin complexity, which has increased exponentially some time ago

Cons

  • Higher chances of fraud
  • Lower rewards as the operator should cover the expenses
  • Contractual terms and conditions – the procedures may stop depending on the coin’s price
  • Opaque operations
  • Lack of monitoring opportunities and flexibility

Observe social media channels to find the truth. Talk to the former players and ask relevant questions of operators before joining the mining pool. Never invest more than you are ready to lose. Stick to this wisdom, and you will never go bankrupt with cryptocurrencies!