Best Bitcoin Cloud Mining Companies For May 2019
The most important aspect of cloud mining is the company providing the service. You have to make sure that they are legit before you purchase any hashrate from them.
Which Cloud Mining Site Do We Recommend?
If you’re looking for Bitcoin cloud mining, Hashflare is the perfect place for you. Not only does Hashflare they have some of the lowest fees in the Bitcoin mining industry, but they also pay you every 24 hours – great if you want to have the money on hand right away.
Another thing that makes Hashflare attractive for beginner miners is the types of contracts they are offering. They offer SHA-256, Scrypt, Ethash, and Equihash contracts, which allow you to mine and earn not only Bitcoins, but also altcoins like Ethereum, Litecoin, Dogecoin, Dash, and more. This is perfect for Bitcoin skeptics who prefer to diversify their mining portfolios just to stay safe.
Hashflare also offers customized mining contracts. That means you get to choose how much hash power you’re buying, which directly influences your chances of finding a block and being paid. They have a minimum required hash rate, but for the best results, you might want to purchase more than that. An online mining calculator should give you a good estimate.
Lastly, Hashflare will offer you everything you need for mining – a wallet to keep your earnings, the opportunity to choose your own pool, and to reinvest the money you earned into more mining power. This last aspect is especially important. As the price of Bitcoin and other cryptocurrencies is growing every day, you could exponentially increase your mining gains by reinvesting the money you already made.
There are two possible ways of investing in cryptocurrencies, and they are: buying the coins from an exchange or mining them. Both options are equally attractive, but buying the coins at the current market price can be a bit expensive, especially if we’re talking Bitcoin, which makes it risky for people who want to start out on a budget. On the other hand, we have mining, which seems like an easy way to earn some Bitcoins without putting down a huge chunk of cash at once. However, Bitcoin’s value growth has attracted millions of miners in 2017, which raised the standards quite a bit. While you could start mining with just a GPU in the past, you would have to get a computer built specifically for Bitcoin mining. And that alone can cost you $5k, if not more.
So, what is the solution? Both buying crypto coins and mining from home seem way too expensive for a beginner. The short answer is cloud mining. Cloud mining refers to renting a portion of a computer’s hash rate from a company that owns and maintains it. In other words, you can start mining with as little as a couple of bucks and no effort.