If it's crypto-related, Kris has already covered it
If it's crypto-related, Kris has already covered it
Cryptocurrency mining has the potential to deliver some big returns, but it’s a steep learning curve – and expensive too. But with the help of the best crypto cloud mining sites, it’s possible to get started straight away with minimum outlay.
Join us as we explain how cloud mining works, and how you can get involved. We’ve got all the information you need to decide whether cloud mining might be the right option for you. And we’ve got useful tips to ensure you sign up to a reputable cloud mining operator too, which you definitely won’t want to miss!
Before you can get down to searching out the best crypto cloud mining sites that will be the best fit for your needs, we need to define exactly what’s involved in the activity. Some types of cryptocurrencies, including Bitcoin, Ethereum Classic and Litecoin, are ‘mined’ by microprocessors, which are all competing to solve complex mathematical puzzles.
Solving the puzzle locks that block of transactions into the blockchain ledger, and the miner responsible is rewarded with newly-released cryptocurrency. There are also transaction fees to collect, so being the first miner to complete a block is a highly sought-after position.
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But you might have heard of the potential rewards on offer for cryptocurrency miners, with digital coin payments for confirming transactions and mining new coins on the blockchain. And it’s true that early Bitcoin miners were able to reap some huge payouts using just their home PCs and laptops when the technology first launched. But these days, the challenges – and the costs – are much greater, as we’ll explain.
Is crypto mining profitable? The answer is that it can be, but it can take quite a long time before you start to see any returns from your initial investment. And that’s certainly the case if you decide to set up on your own as a crypto miner. Competition is fierce these days, so a modest CPU simply isn’t going to be anywhere near powerful enough to perform the computations required.
If you choose to mine Ethereum Classic, you could probably get by with a state-of-the-art graphics card, but Bitcoin miners will need to make a much greater investment. An ASIC rig is required, otherwise known as an Application-Specific Integrated Circuit. These units combine several microprocessors in a circuit, making them much more powerful than standard CPUs.
Before you rush out to purchase your new piece of crypto mining kit, there’s something you need to know. These units are expensive, often running into the thousands to purchase. They also consume huge amounts of electricity, making them extremely costly to run. And with new technological breakthroughs happening all the time, these units tend to become obsolete very quickly.
And there’s still another problem to overcome. There are thousands upon thousands of other miners all competing to solve the block computations and claim the crypto rewards. The chances of your single ASIC rig claiming the ultimate prize are negligible at best, so your unit could be costing you money without resulting in any income at all.
Rather than going it alone, most lone miners choose to join a mining pool, where resources and rewards are shared. This benefits all miners, as the computational power of their individual machines is combined, giving much greater chances of claiming new crypto as it’s released.
Of course, choosing the right pool is absolutely essential if you’re going to make the most of your investment. It’s important to look into fees and charges, and we always recommend reading through a site’s terms and conditions too, so you know exactly what to expect. Luckily, you’ve already found us here at BitStacker.com, so if you’ve got any questions, such as ‘Where can I buy cryptocurrency?’ or ‘Is IQMining safe?’ we’re always on hand with help and advice.
But maybe you don’t want the hassle of researching and buying an expensive piece of kit that’s going to become obsolete within a few months? Maintaining hardware isn’t for the faint-hearted, and not every crypto investor wants to spend time reading technical manuals or troubleshooting IT issues. And for those crypto fans, there’s another option – cloud mining!
No matter the size of your available budget, or your attitude towards risk, there’s a cloud mining site that’s absolutely perfect for your needs. And we’re committed to helping you find it, with helpful guides, insightful reviews and useful comparisons. Our experts know just how much enjoyment can be gained from becoming involved in the crypto mining process, but we also know how important it is to choose wisely.
The most important thing to keep in mind, when searching for the right crypto cloud mining operator for you, is that there are loads of scam sites out there. With so much at stake in the form of brand new crypto coins being released into the world, you can be sure that there are endless tricks that scammers will use to part you from your money.
In particular, there are a number of so-called cloud mining sites that will take your money and never return any of it. In effect, you’ll be paying for the site’s owners to use your money to mine cryptocurrency and keep the rewards for themselves. That’s definitely not something we want to see happening to our site visitors, so we go to great lengths to ensure your safety.
If the idea of cloud mining seems appealing, you have a choice of two options. Bear in mind that contracts will be for a set length of time, with no guarantee that you’ll earn sufficient rewards to pay back your investment costs:
Cloud mining certainly has some clear advantages over other crypto mining options. It’s quick and easy to get started, with no need to spend thousands on expensive equipment or study technical manuals to keep your ASIC unit in peak condition. So if you’re thinking of giving it a go, here’s how you get started.
Bitcoin is the crypto most people think of when considering where to start with mining. It was the first digital currency to be created, and remains at the number one spot for now. But there are plenty of other options to choose from, including Ethereum Classic, Litecoin and Monero. Some cloud mining sites only offer one type of crypto, whilst others allow you to select from a range.
You don’t need to have any prior experience of cryptocurrencies, but now you’ve decided to try mining, you’ll need to know which activities are likely to bring you the best returns. For a long time, Bitcoin was the crypto that everyone was wanting to mine. More recently, there’s been a lot of interest in Monero, so it pays to check out what the current trends are. It doesn’t guarantee success, but it can be a good indication of what’s possible.
You’ll find plenty of cloud mining sites online, but the key point to remember is that a huge number of them aren’t genuine. Scam operators are just waiting to use your money to fill their pockets, and there’s no comeback, so caution is needed right from the start.
We’ve tracked down the best crypto cloud mining sites already, so we’ve saved you the research and fact checking. We check extremely thoroughly into every site featured on our site, and we have incredibly high standards. If an operator appears in our selection of the best crypto cloud mining sites, you can be sure it’s a safe and trustworthy site to sign up to. Rather than having to research ‘Is Ecos safe?, or ‘Is StormGain legit?’, you can simply pick out the site you like the best and get started!
It’s always worth taking a look online to see what other people have to say about a cloud mining site, before you sign up. You might not be able to find anything at all, but that’s usually a good sign. People are generally quicker to complain than they are to praise, so you’ll quickly discover if there are any ongoing issues you ought to be aware of.
Once you start amassing your crypto rewards, you’ll need somewhere to store them safely. Whether you intend to convert them to fiat currency straight away, or you prefer to ride the volatility wave that’s part and parcel of crypto investment, safe and secure storage is essential. With no financial banks or institutions ready to step in if your digital coins go astray, security should be one of your primary considerations.
While it’s true that some of the best crypto cloud mining sites offer wallet storage as part of their services, this isn’t necessarily the best option for everyone. It’s generally accepted that hardware wallets are the safest way of keeping your cryptocurrency secure, and we’ve got invaluable information about the top crypto hardware wallets that are available right now.
All of the top crypto cloud mining sites that feature on our site offer a range of plans that you can sign up to. You’ll be purchasing ‘hashing power’, which gives an indication of the speed of computations that can be performed to try and be first to claim the block reward. The higher the hash rate, the better, although the costs increase accordingly. That’s why It’s really important to do some calculations about your likely outcomes over the term of your contract.
An initial outlay that’s not sufficient, may not cover its setup costs over the long term, which is never a happy position for an investor to be in. But spending more, in the hope of generating big returns certainly isn’t any guarantee of success either, so it’s important to acknowledge the risks from the outset.
When you sign up for any of the best crypto cloud mining sites, you don’t have to do anything at all. You can just sit back and wait for the rewards to build up – or for the payments to go out – without any further involvement. But it’s always worth studying your investments, to see whether your crypto assets are working in your favour.
You’ll be tied into a contract with the cloud mining host company, so it’s important to have checked out the terms and conditions before signing up. But once your virtual rig is up and running, you can learn a great deal about cryptocurrencies by keeping an eye on how well it’s doing. You might decide it’s worth investing in some ASIC units of your own, for instance, or you might opt to just purchase your crypto from a broker in future. Whatever you decide, you’ll be making informed decisions – and they’re almost always the best ones!
Now we’ve explained what crypto cloud mining is, and how you can get involved, it’s time to start exploring your options! If you like the idea of dabbling in Bitcoin or altcoin mining, but without having to purchase and set up expensive, energy-consuming equipment, then cloud mining could be the perfect solution for you!
Whatever your crypto interests, we’ve got the best crypto mining platform for you, just waiting to be discovered. We can help you with the buying, trading, and storing of cryptocurrencies, offering invaluable information to help you, and your finances, stay safe. Be sure to check back regularly, to find out what’s new in the world of cryptocurrency cloud mining.
If you’d like to know how cloud mining works, you need to come and read this! We’ll explain what cloud mining is, and how you can get started – even if you can’t afford any of the expensive mining equipment. Come and find out how to get involved in generating digital currencies, and hopefully make some digital coins for yourself in the process!
It’s impossible to pick out one cloud mining company as being the best option for everyone. After all, every potential investor has their own budget, risk profile and technical ability. But here at BitStacker.com, we can help you determine the cloud mining operation that’s perfectly suited to your exact needs. Come and take a look at this!
Not all cloud mining operations are quite what they seem, as this is an industry rife with scams. But here at BitStacker.com, we’ve got a wealth of information to help you pick out the safe and legitimate operators that are perfect for your needs. Whatever your crypto questions, from ‘How do I get started with cloud mining?’, to ‘Are hardware crypto wallets safe?’ we’ve got the answers. Come and see!