Bitcoin Cloud Mining

cloud-servers

Top 10 Cloud Mining Services

  • 1. Harnest(PACMiC 5)
  • 2. ViaBTC (S9)
  • 3. Genesis Min. (ETH)
  • 4. HashFlare (ETH)
  • 5. BW (B-16)
  • 6. HashFlare (Scrypt)
  • 7. HashFlare (SHA-256)
  • 8. HashFlare (Zcash)
  • 9. Genesis Min. (Zcash)
  • 10. HashFlare (X11)

Bitcoin Cloud Mining is a different option of solo mining or using hardware. Without owning a hardware for mining, you can still mine by a way of cloud mining. It will mine particularly Bitcoins or different cryptocurrencies.

mining-cloud-btc

Basically, you just have to buy some shares of mining power - the same with mining pool - and profit with them. Hence, you only need to have an agreement with services offered Cloud Mining and a btc wallet.

Two Forms of Cloud Mining :

1. Hosted Mining - You need to put your machine for mining to a Pool, that has cooling mechanism, configuration process and electricity provider. Another way is to lease a machine for mining by yourself.

2. Buying Hashing Power - It is the most common process in Bitcoin cloud mining. You just have to purchase an amount of Hash Rate. That actually means, you have to own a virtual or physical computer (machine).

Purchasing Hashing Power Versus Hosted Mining

We will now compare the differences between the two types of Bitcoin Cloud Mining :

Pros and Cons of Hosted Mining

cloud-btc-mining

(Pros) Less Scammy - Instead of finding out if the service provider is a registered business enterprise, and you decided to get Bitcoin mining hosted contract then you have a stance of not getting scammed. Here's the list of scam service provider :

  • 1. HashOcean
  • 2. Mining Sweden
  • 3. Biknock
  • 4. Scryptsy
  • 5. Cointracker
  • 6. CloudThink
  • 7. ScyptCC
  • 8. xScrypt
  • 9. Cloudminr
  • 10. Bitcoin Cloud Services

(Cons) Higher investment and monthly cost - Depending on the maintenance costs of energy used, you will be purchasing a Bitcoin mining machine.

bitcoin-miner

(Cons) Harder to Monitor - There's only lesser chance of successfully monitored. Here's the list of Bitcoin Cloud Mining Monitor for checking you profitability :

  • 1. Hashnest (PACMiC 5)
  • 2. ViaBTC (S9)
  • 3. HashFlare (ETH)
  • 4. Genesis Min. (ETH)
  • 5. BW (B-16)
  • 6. HashFlare (Scrypt)
  • 7. HashFlare (SHA-256)
  • 8. HashFlare (Zcash)
  • 9. HashFlare (X11)
  • 10. Genesis Min. (Zcash)

Pros and Cons of Bitcoin Cloud Mining

btc-cloud-server

(Pros) Higher Profitability - Providers of Cloud Mining optimize all sort and higher return of investments.

(Pros) Cooler Location and Tranquil - No heat and noisy sounds.

(Pros) Less Electricity - Lowered your electricity expenses.

(Pros) No Maintenance for Devices Problem - No more configuration and selling of Bitcoin miners if not profitable.

(Pro) No Risk - There's no more possibility on equipment anxiety.

(Cons) Risk of Scam - Bad luck might be on high levels the you can find fraud in Cloud Mining

(Cons) Price of Mining Operations - Hardware management is part of what you have to pay.

(Cons) Less Fun - Since you own it virtually, it's lesser fun than you own it physically.

(Cons) Lack of Flexibility and Control - Hard to decide where to use the miner and sell the Bitcoin mining.