Bitcoin mining is the process of using computing power in order to confirm the transactions on the public ledger (blockchain). However, Bitcoin Cloud Mining also involves mining, but through remote data center that possesses shared processing power. Cloud mining do not require management of mining hardware. In cloud mining, a miner or users receive lower returns as there is already a big cost involved in mining hardware. However, cloud mining allows miners or users to earn Bitcoins with no hassle of maintaining and buying the mining hardware.
There are plenty of Bitcoin cloud mining providers in the industry, such as Hashgains. It is one of the leading Bitcoin cloud mining platforms that provides all cryptocurrencies mining in the easiest way. The list of Bitcoin Cloud Mining benefits include–
• No excess heat
• No electricity cost
• When managing hot equipment, no ventilation problem
• No suppliers involved
You can choose from the well-planned cloud mining contracts of Hashgains to invest in Bitcoin, Ripple, Monero, Dash, and other cryptocurrencies in order to earn profits on the investment. If Bitcoin price doesn’t fall, then mining costs will increase and generate the revenue. In case, it happens, mining machines and contracts will shut down. Therefore, cloud mining is the only profitable option as the Bitcoin price rises.
Beware of Scams
It has been observed that there are numerous companies that are doing the mining scams. For instance, the scam of $500,000 under Bitcoin Cloud Mining Ponzi scheme that was still not covered. Thus, cloud mining service buyers or investors has to be careful before signing bitcoin mining contract as most of the companies are doing Bitcoin scams. Therefore, at the time of selecting a cloud mining provider, you should be careful. Make sure to read about the company and check testimonials. In addition, do consult with community forums, including bitcointalk.org in order to receive info related to cloud mining provider.
Is it a Good Investment?
It is a tie between yes and no. In the past few years, Bitcoin mining difficulty has been increased substantially. Hence, to mine Bitcoin with mining hardware at home became unprofitable. Mining at home can’t be compared with huge international mining operations that consists of plenty of mining machines. From the time, Bitcoin price is constantly increasing, investing in cloud mining contracts is become profitable and it will remain the same as far as the cryptocurrency will maintain its value in the market. Previous data have shown the investors who have previously bought Bitcoin is making higher returns in comparison to the ones invested in cloud mining contracts.
Therefore, the decision is up to you that you will prefer investing a huge amount in Bitcoin instead of receiving small weekly or daily bitcoin payouts. Also, it depends on you that you want to hold or buy Bitcoin from capital gains. For more information on ROI or how to choose the best cloud mining provider, you can read articles and blogs on the internet. First, read the blog posts, news articles, then invest or choose a one year, two year, or lifetime cloud mining contract.
Opt Hashgains for Bitcoin Cloud Mining
On a personal level, if you want my suggestion on Bitcoin cloud mining, I would definitely suggest Hashgains for many reasons. You can purchase the Bitcoin mining contract from the website and join the bitcoin mining network easily. Usually, to earn return on investment (ROI), it will take above a year, in which stability of Bitcoin is very necessary. With Hashgains, you do not have to wait for so much in order to earn profits on ROI. Second reason to opt for Hashgains, it provide a simple cryptocurrency cloud mining platform that mines altcoins in the easiest way. You just have to sign up, choose the purchase plan as per your requirement and start mining. In addition, you can also generate benefits by investing in peer-to-peer loans or hold promising cryptocurrencies, including Bitcoin, Dash, Ripple, Monero, and Ethereum for long-term investments.