Cloud Mining: Reviewing Top Services

Investing in the cloud mining of bitcoins is the most rational step in preserving and multiplying your cryptocurrency savings. It is, basically, a simplified mining of bitcoins (EXANTE: Bitcoin), which frees you from electricity costs, everyday monitoring, software and other costs associated with the classic mining. We bring you the list of the proven services that provide facilities for cloud mining of bitcoins in the form of contracts. The contract provides you with a cloud of the capacity, which you choose by yourself, while the profits from mining by this cloud will be your daily catch. Bitcoin cloud mining contracts are usually sold for bitcoins on a per hash basis for a particular period of time and there are several factors that impact Bitcoin cloud mining contract profitability.

HashFlare

HashFlare – Cloud Mining is a top service specializing in the cloud mining for different types of cryptocurrency, primarily for bitcoins. The service offers good support for reasonable prices, has a simple interface and frequent automatic payments. A nice bonus is that the tariff plans are not limited in time, so you can make profit as long as it is possible. It offers SHA-256 mining contracts and more profitable SHA-256 coins can be mined while automatic payouts are still in BTC. Customers must purchase at least 10 GH/s.

Pros:

• Quick support
• Variety of pools for the mining
• Secure charges and payments
• Availability of data center with equipment

Cons:

• Cannot sell your hashrates

HashFlare Cloud Mining

Genesis Mining

A well-known service, Genesis Mining, offers a Bitcoin and other cryptocurrencies cloud mining. It is trusted for its positive feedback from the miners themselves and for the daily payments, as well as for numerous photo and video confirmations of their huge data centers. Especially indicative are the daily payments: no one can steal, or in any way take the mined bitcoins away from you. Similarly with the annual contracts: the amount of profit depends on the rate of the Bitcoin. Given the fact that the cost of it is constantly increasing, the earnings on these contacts regularly increase.

Pros:

• Quick support service
• Secure payments
• Ability to customize the pools
• Reliable equipment from Zeus
• Credible farm for mining

Cons:

• Hashrates are not exchangeable for sale

Genesis Mining

EOBot

The EoBot service provides its own software. There is a daily distributing crane, with a considerable amount of Bitcoins and other cryptocurrency. EoBot was one of the earliest on the market to provide cloud mining services. They offer rental contracts from as short period of time as 24 hours to up to 5 years. EoBot is trying to remain up to date with new trends, they are adding new features and upgrading the equipment regularly.

Pros:

• Ability to convert earnings to Bitcoin and other cryptocurrency
• Support PayPal
• Increase in Bitcoin value
• Immediate payouts
• Android and iOS friendly

Cons:

• High maintenance fees
• No information about owners

EOBot

Hashing 24

Hashing24 uses modern ASIC chips from BitFury, delivering the maximum performance and efficiency. The company does not put a cap on the maximum hashpower you can purchase and it also comes without an expiration date. Besides the actual hash, you will also be charged a corresponding maintenance fee, including costs of electricity, cooling systems, hosting services, and maintenance work. You can buy hashpower with a credit card, via OKPAY payment system or using bank wire transfer. If you choose any of these payment methods, you can pay in USD or EUR. The price for 100 GH/s in fiat currencies is 19.95 USD or 17.95 EUR.

Pros:

• Daily payouts
• Flexible plans
• Access to BitFury data centers
• No hashpower cap

Cons:

• Mines Bitcoin only
• Not available for USA residents

Hashing24

NiceHash

NiceHash is unique for its use of an order book to match mining contract buyers and sellers. It is a special multi-mining pool allowing users to mine any hashing algorithm and to sell the hashing algorithm in the Nicehash hashpower exchange to users that want to buy a profitable mining contract. Nicehash charges a 3% fee and miners are paid in Bitcoin. Dispite charging a 3% fee on orders, selling the hashpower with NiceHash is usually more profitable than mining the cryptocurrency itself.

Pros:

• Very easy to use
• Multi-algorithm, allows mining the most profitable coin
• Constant updates

Cons:

• Not as profitable as mining one particular cryptocurrency

HashNest

Hashnest is operated by BitMain, the producer of the Antminer line of Bitcoin miners. HashNest currently has over 600 Antminer S7s for rent. At Hashnest cloud mining platform anyone can participate in bitcoin mining without maintaining and investing into mining hardware equipment. The 99.9% uptime is guaranteed by the equipment provided by BitMain Technologies. The plans are starting from 1 GH/s, so clients can choose the amount of investment they wish to spend on cloud mining.

Pros:

• No maintenance fees
• Possible to trade hashrates
• Possible to buy mining rigs

Cons:

• Supports Bitcoin only
• PACMiC contracts and payouts are complex and might be difficult to understand
• Requires registration with BitMain passport

Minex

Minex is an innovative aggregator of blockchain projects presented in an economic simulation game format. Users purchase Cloudpacks, which can then be used to build an index from pre-picked sets of cloud mining farms, lotteries, casinos, real-world markets and much more.

Pros:

• Reasonable prices
• Quick support
• Constantly improving sites and investments to help their investors
• Active team

Cons:

• Payouts per cloudpacks are not fixed, varies depending on the weekly vote