The most prominent cloud mining company for mining cryptocurrencies

 Year after year the world and the field of cryptocurrency, blockchain and cryptocurrency mining via cloud mining is developing. Currently, mining is changing in general a lot and many prospectors now may not find them next year due to the hardware that mining a cryptocurrency requires, the ever-changing mining difficulty, electricity and high energy bills. Home mining or private mining of cryptocurrencies is very expensive, and also many cryptocurrency systems will move from a validation algorithm that relies on physical mining to solve the block problem, to a share transmission algorithm that relies on documenting and verifying transactions in the blockchain with the amount of currencies owned by participants in the blockchain. Blockchains dedicated to mining or those that have been frozen for mining via the staking process are all algorithms that work differently from the others.

But the physical cryptocurrency mining that relies on hardware to decipher the block's encryption puzzle, to add it to the blockchain, will remain forever, because simply the encrypted economy and its credibility depends on computer-based mathematical mining by digital mining, without anyone interfering what its type was, and here It shows the strength and value of all currencies that depend on computer mining in order to decode currency symbols such as Bitcoin and Litecoin, although this type requires a large amount of computer and electrical energy and constant cooling.

If you want to invest or from novice investors in cryptocurrency mining by creating and building farms or establishing a private mining company, you must recalculate your plans in order to recalculate your investments and profits from it without risking large capital, for several reasons, including that the equipment costs many Dollars, add maintenance and power generation appropriate for mining, and the cold host of mining equipment and the electricity bills that you will find rise as the mining power increases and the competition to solve the block problem, and even if all of these conditions are met, revenues from private mining may remain modest because the competition will be stiff. And many other challenges that emerge over time.

For this purpose, in this topic we will discuss an alternative whose profits may be close to low, for profits on investment in equipment, but with less risk, in this topic we will explain what is cloud mining? We offer you companies and cloud mining service providers to invest in mining at the lowest cost with high profits, without purchasing any device.

Important note: Investing or participating in the field, that is, cloud mining, is not necessarily profits without any risks, but the risks remain high in this type of investment, especially since the cryptocurrency market is not subject to any control or any regulations that control it, but it is a very volatile decentralized market. Regardless of the risk, profits remain quite high.

 ​​mining, buy Bitcoin or any other cryptocurrency via various platforms such as Binance , as an investment or freeze one of the cryptocurrencies mentioned in this topic. Without further ado, let's move on to our picks for the best cloud mining service providers, but before reaching those companies or mining service providers, you must read between the clicks to understand what you are up to.

Cloud mining is one of the options available for mining cryptocurrencies. And on our site, we will try to give you a clear picture of cloud mining and how to start mining by selecting the best mining service providers that have started since the new concept of the crypto industry began and also discover the advantages, pros and cons of Cloud Mining, and for each Cloud Mining Company and How You Can Make Money Using It.

Important note: the most popular currencies that are still adopted are done through mining and by computer hashing or hash power by following the Proof of Work protocol.

• Bitcoin
• Litecoin
• Monero coin
• Dash coin
• Zcash coin
• And Ether

What is cloud mining or digital mining?

First, let's remember what mining is. Cryptocurrency mining is a block-mining process or operations in the cryptocurrency network of the blockchain meaning decrypting the block by renting equipment through mining contracts awarded by the company providing mining services, where the participants in the process - i.e. digital miners - receive a reward in the form of predefined cryptocurrencies. In the network that is mined.

You can mine cryptocurrencies or encrypted digital assets like Bitcoin on your own devices. But that requires powerful CPU or GPU processors, video cards, or special hardware, such as ASICs. Because it provides a strong computing hash power, called hash, however, as the rate of difficulty changes in mining the mineral must add new hardware to its mining farm.

The choice of equipment usually depends on the characteristics of the cryptocurrency that the cryptocurrency miner will go to. For example, Bitcoin (BTC) is often mined with ASICs and video cards to boost power, and they are integrated into special structures - called digital farms - Regs.

More information about the difficulty level of mining cryptocurrency, according to whattomine.com and comparing profitability indicators for mining a number of cryptocurrencies through ASICs. Data from: whattomine.com

Bitcoin has long been one of the most popular cryptocurrencies in mining. The miners are attracted by the high yield and the spread of the currency around the world. However, those wishing to start mining BTC must prepare for some difficulties, including regular adjustments to the level of mining difficulty.

You may also like this: What is Bitcoin in simple and understandable terms

The indicator changes approximately every 13 days. The difficulty adjusts according to the amount of computing power the miners have connected to the network. The difficulty of mining increases with the hash rate. In this way, the system maintains a fair level of reward on the network, which takes into account the interest in mining from the crypto community.

The graph below shows the bitcoin hash rate and the difficulty of mining.

Those wishing to earn money from cryptocurrency mining have to take part in the equipment race which is a huge challenge with its high price tag. With the increasing complexity of mining, in order to conserve income, miners must constantly search for options to improve equipment performance. And equipment is expensive to buy.

The image below shows the cost of mining hardware with which you can mine cryptocurrencies that run on the SHA 256 Bitmain algorithm.

Additionally, not everyone has the start-up capital that can be spent on purchasing the equipment needed to start. At the same time, beginners run the risk of making mistakes in calculations and incorrect installation of equipment and incur losses, even if they buy the best ASICs.

Cloud mining was the solution to the expensive equipment problem, too. With its help, you can start making money from cryptocurrency mining, bypassing a number of difficulties, including purchasing equipment, hosting it in cool locations, maintaining it, and conserving energy.

How does cloud mining work

Cloud mining refers to the mining of cryptocurrencies through a remote connection to the equipment. This equipment is commissioned by a company that will provide its services in mining and will collect it programmatically in a place and one of the company maintains the equipment and that place is called the name of mining farms so that it is always designed to add computer cards, video cards, or ASICs, then the company through its site Or, through direct demand, you provide mining contracts with specific amounts, through which you can hire the computer power of that equipment for mining and obtain income from the computer power you have hired.

Let's take a look at how Bitcoin cloud mining came about in context

• The user chooses the computing power provider, the company, or the mining service. And you will find many options in this topic.
• The customer enters into agreements with the company to connect to its cryptocurrency production equipment. The parties discuss all the nuances of work in advance.
• After paying for the computing power, the miner is granted remote cryptocurrency mining access through the rental equipment.

In some cases, the business happens differently: the user transfers money to the company. They are used by representatives of the organization to cover the costs of mining cryptocurrencies and expanding business. The company shares a portion of the mining profits with its investor.

Most of the time, to work, the user only needs a computer and fast internet. Cloud mining expenses are charged according to the previously concluded agreements between the two parties.

Is cloud mining profitable?

You can earn money from cloud mining. However, the level of income depends on a number of factors, including the specifics of the terms of the contract with the computing power supplier and the dynamics of the cryptocurrency rate, which the user focuses on producing. In some cases, it takes time to arrive at the return on investment along with the profits.

A graph showing the level of payments and earnings on Bitcoin mining.

As it is noticed, profits rise with the rise in the price, and this is a positive indication that mining, despite the changes that occur quickly, but that profits are always there, only the best and most prominent cloud mining companies should be found to mine cryptocurrencies.

Unfortunately, most of the companies offering to make money through cloud mining are scam companies that work on network or hierarchical marketing (called Ponzi schemes). These shell companies take money from the new users and pay their share of the "profits" to the former customers. In order not to fall into the trap of fraudsters' scams, it is important to carefully choose a solid and reputable cloud mining platform.

Cloud mining versus mining on your own devices

Let's compare the possibilities of mining cryptocurrency "in the cloud" and on our own devices.

Advantages of cloud mining

You don't need a lot of capital to start your cloud mining mine. Cloud mining requires a small investment for modest profits, or a maximum investment with large profits with the ability to enter the market quickly.

• No need to connect or purchase the equipment yourself
• Does not require maintenance of equipment and machines.
• No need to search for a place to install equipment.
• The ability to terminate the contract at any time.
• There is no need to sell the equipment if you want to go out of business or have a low mining income.
• No need to race equipment and buy the latest and greatest competition
• You can start mining without special knowledge and skills.
• Low risk on invested capital with returns that may resemble those from private mining.

Downsides of cloud mining

• There is a high risk in facing scammers. When researching the history of cloud mining companies you can find many unpleasant stories on the net.
• The profits are small, compared to mining on your equipment, the level of income. At the same time, everyone will have their own answer to the question of how much you can earn from cloud mining. The result depends on a number of indicators. For example, in relation to the size of the initial investment, the competency of the chosen partner to operate and the favorable conditions in the market.
• The need to trust third parties. In this case, the provider of computing power.

The pros of mining your own hardware

• The ability to control equipment without the need to rely on a third party.
• No need to enter into contracts with the platforms.
• The ability to earn more than cloud mining.

The Cons of mining with your hardware

• Before starting work, to reduce risks, you need to undergo training: study the technical features of equipment, learn how to connect and maintain equipment. Also, the mining efficiency greatly depends on the correct selection of the mining cryptocurrency at every stage. Currency yield change. To increase the level of profit, you need to monitor the available cryptocurrency indicators for work.
• Significant capital is needed to purchase equipment.
• To install the device, you need to find a room and organize the appropriate conditions in it. For example, for efficient operation of equipment it is necessary to maintain a certain temperature. For this purpose, digital miners use refrigeration equipment.
• If you want to go out of business, you will need to find a buyer for the equipment. It is not always possible to sell equipment at a price close to the price it was when purchased.
• One has to take part in the ever-changing gear race

Despite the fact that mining on your own devices is fraught with a number of difficulties, this method of mining cryptocurrencies is still required and the profit from it is sometimes high whenever the equipment is powerful.

Bitcoin hash map across the world and index of the largest mining countries. Data from cbeci.org

The most prominent cloud mining company for mining cryptocurrencies

A list of the best active cloud mining sites that you can trust in order to earn income from cryptocurrencies, which we have researched well before including them in this topic.

The leading cloud mining platform Genesis Mining

The Genesis Mining Cloud Mining Platform, with most of its farms located in Iceland, is one of the market leaders. The company was founded in 2013. During its operation, Genesis Mining has gained popularity in the crypto community as one of the most secure options.

Features of Genesis Mining Cloud

• The ability to mine a variety of cryptocurrencies including Bitcoin, Ethereum, Zcash, Monero, Litecoin and Dash.
• Genesis Mining is one of the few platforms whose team has never stopped working with digital cryptocurrencies destined for anonymity.
• The company offers users a variety of options for mining cryptocurrency contracts using cloud mining.
• Also, one of the advantages of Genesis Mining is that it offers stable payments and good support.

Downsides of the Genesis Mining platform

• There is a big difference in the level of benefit from the offers.
• The platform team periodically changes the terms of the contracts.

Against the background of changes, in the same period of time, users can work under different conditions. At the same time, some lucky customers will get to enter into a more profitable contract with more payments.

The multi-service platform that offers StormGain cloud mining offerings across your or other user's devices

The StormGain platform is one of the few digital assets on the market that allows you to work anonymously with cryptocurrencies, cryptocurrencies, and optionally, you can interlink yourself. The platform also provides an opportunity to engage in cryptocurrency cloud mining through a recent development in choosing which device to mine or via your device.

Benefits of cloud mining with StormGain

• If you want to mine across your hardware or other devices offered by users, StormGain does not use user equipment battery resources.
• StormGain equipment and tools allow you to achieve the highest indicators of mining speed with minimal consumption of user resources.
• The platform has a schedule to distribute prizes and rewards every 30 or 40 minutes. The automated process allows mined cryptocurrencies to be split evenly.
• A small limit for withdrawing funds is 10 USD, equivalent to the equivalent in BTC.
• Fast withdrawal of funds. Maximum with high network load 72 hours.
• Stable payments. StormGain does not violate established deadlines.
• The platform integrates tools to detect and prevent fraudulent activity.
• The platform has many services other than mining, such as off-platform trading, buying and selling of currencies, a wallet for cryptocurrencies and a stock exchange.
• Efficient support service.
• StormGain has a medical reputation in the market. During its operation, the platform massed a large support from two metals.
• Another important feature of the platform is quick registration. It can only take a few seconds from creating an account to starting cryptocurrency mining with cloud mining.

Downsides of cloud mining on StormGain:

• Profits can only be extracted and bitcoin mined.

Bitcoin Pool cloud mining company

Bitcoin Pool is provided directly by the Bitcoin Cash Watching Community, the owners of Bitcoin.com that aims to provide the most competitive mining service. Bitcoin announces that it offers the highest pay-per-share pool (PPS) in the world with a 98% hash-problem-solving bonus, and the costs are very low.

Getting started with Bitcoin Pool is easy and you can start mining right away, you can either start mining Bitcoin Cash in BCH or Bitcoin in BTC, whichever seems more profitable to you. It is also easy to perform mining monitoring with our Android and iOS mobile apps, so you can track your account usage and value as much as you want.

The Binance Smart Pool cloud mining platform

Binance Smart Pool is a service that enables the user to get higher profit by automatically switching the hash rate for mining different currencies using the same algorithm. Binance Smart Pool supports SHA256 algorithm and users' hash rate can be switched between BTC, BCH and BSV automatically.

The income from the final mining is settled in Bitcoin.

Binance Smart Pool features

Guaranteed minimum income. Due to the real-time hedging of Binance Smart Pool, the platform ensures that the users' final mining income will be higher than the general income of the FPPS payment method. Once there is a circumstance that the ultimate actual income is less than FPPS income, Binance Pool will guarantee to compensate users for the loss.

Simple operation. Users can use one-click switch from general mining to smart pool mining and there is no need to change mining layer URL or user ID which is convenient and fast.

Kryptex cloud mining platform or website

Cryptex is a platform that seamlessly combines all the mining infrastructure in a single app and platform from mining startup to getting paid in a continuous seamless flow without any complication.

The user installs the Kryptex app, and the platform prepares the miners and exchanges in a cloud mining community. Pooling offers higher profitability than standalone mining due to economies of scale in exchanges and transactions.

Pros and benefits of mining via Kryptex:

• Simple business scheme. You just need to install the app.
• Several options for withdrawing funds: in cryptocurrencies, USD and EUR.
• Low commissions and withdrawal limits of 100.
• Kryptex has partnership agreements with banks.
• A large collection of algorithms for mining. The app automatically chooses the best hardware and equipment algorithm to maximize profit. If desired, everything can be reconfigured by yourself.
• There are functions for remote farm management and system monitoring. From your personal account, you can change settings and monitor hashing rate, equipment temperature, power consumption and electricity.
• Community developed via Telegram, YouTube channel, group on Instagram and other social networks.
• There is an opportunity to rent video cards for programming, artificial intelligence, machine learning, big data, video rendering, and cloud computing.
• Kryptex also has a mining calculator and table of top video cards that will help you make the right choice if you want to invest in hardware.

The negatives of the platform

All acquired coins are incorporated into Bitcoin. This reduces cryptocurrency price volatility, but can scare off traders looking to trade alt currencies on exchanges.

The main Eobot platform

The Eobot project was launched in California (USA) in 2013. Its long history puts the platform on a par with the big and giants of the cloud mining industry. Among the features of the site is the anonymity of the miners.

Eobot pros

Platform creators pay special attention to user safety. Eobot has a number of tools for this.

The platform features a calculator that allows you to accurately predict your potential income level

A large number of cryptocurrencies are available for mining

Downsides of Eobot

Sometimes you face difficulties accessing the platform.