Cryptocurrency mining has been one of the oldest and best ways to earn money from the crypto space. Miners are charged with approving transactions and mining blocks. They get rewarded for each block they mine.
Although the mining reward will continue to decline until the last block is mined, Bitcoin mining remains an excellent way to earn money due to the increasing value of Bitcoin. However, while you can make money from Bitcoin mining, it is tough to mine the cryptocurrency.
When mining cryptocurrencies, you will need to spend highly on data and hardware. The cost of starting it up is too much for some regular investors, which is why people are now allowed to invest and own mining rigs without personally mining the cryptocurrencies.
We have several mining farms around the world that allow investors to pay for mining rigs and get returns for their investors. The situation, which is regarded as cloud mining, has presented an excellent way for people to venture into crypto mining and earn money from it without having to mine the Bitcoin personally.
While Bitcoin mining is an excellent way to earn money, there are several mining investment platforms available to investors. Thus, making it hard for people to know which mining farm to invest in. Here, we will list some of the top sites where you can invest in Bitcoin mining in 2020.
Pros of cloud mining
- You don’t have to stress over upkeep as there are no electricity cost, expensive hardware, or installing software
- You can pull out anytime, especially when mining becomes unprofitable
- No ventilation required for the hot hardware
- You won’t be disturbed by the humming fans running wild all day long
- You can start earning from mining instantly
Cons of cloud mining
- Lower profits in the long-term
- You don’t get to make any crucial decisions
Leading Bitcoin Mining Investment Platforms
Cloud mining allows individuals to mine in cryptocurrencies on shared data centers without managing the hardware. This way, you can invest in Bitcoin mining and get regular profits for your investment without managing the process yourself.
Here are the leading Bitcoin cloud mining platforms you can work with.
It is regarded as perhaps the best cloud mining platform currently available. Eobot allows people to pay for fractions of a cloud instance if they can’t afford to buy an entire rig unit. They provide a wide range of payment options, including PayPal, cryptos like Ethereum, Litecoin, Bitcoin Cash, Ripple, Dash, Dogecoin, and more.
With Eobot, a customer gets 1.0 gigahashes per second for each cloud instance running SHA-256. This is perfect for beginners are it allows them to start small and grow their investment from there. Eobot has made it possible for people to start mining investment with as little as $10.
Investors receive mining updates every minute, making it easy for them to track their profits. Eobot also has a calculator on its website where you can easily calculate the earnings per cloud instance.
Hashflare has been around since 2014 and is one of the most popular cloud mining platforms in the world. They offer investors a customizable pool mining solution, allowing investors to choose the pools they want to mine Bitcoin.
They have become famous for their transparent fees and commissions, which makes it easier for investors to keep track of the profit they are making and how much they are paying for costs. Similar to other cloud mining platforms, Hashflare offers two types of mining for Bitcoin users; Scrypt and SHA-256. The pricing here is competitive and they usually make their first payout within 24 hours. This is great as investors get to see returns on investment slowly but surely.
This is another popular cloud mining platform designed to make it easy for beginners to venture into Bitcoin mining. Genesis Mining can easily contest for the best cloud mining platform currently available.
As one of the oldest cloud mining providers, Genesis Mining is also the most significant cloud bitcoin mining company. This allows them to handle a lot of volumes and perform well. This feature is useful for people that wish to invest massive cash into the Bitcoin mining venture.
With Genesis Mining, you can allocate your hashpower to mine different cryptocurrencies at the same time. Thus, you can easily mine BTC alongside a few other cryptocurrencies like ETH, LTC, BCH, and others simultaneously. While Genesis Mining is a bit more expensive than the others, they offer excellent customer support and mining experience to make it worth the cost.
Hashing24 is another famous cloud mining company that has been around since 2012. They have tended to thousands of several satisfied customers over the past few years and remain one of the best options for Bitcoin cloud miners.
The platform uses modern ASICs from Bitfury to ensure that they use efficient and robust hardware at all times. This allows them to guarantee 100% uptime, eliminating downtime or other operational errors.
Hashing24, based in Georgia and Iceland, makes it easy for investors to calculate their expected profits beforehand. If everything goes as planned, the expected ROI with Hashing24 makes it worth the time and investment.
The platform became popular for its transparency as they always keep investors in the loop, including fees and other information.
Bitcoin mining investment has been made it easy thanks to the cloud mining platforms. Although we have a wide range of cloud mining platforms currently available, the ones reviewed in this post are some of the best now available. They offer competitive prices, good ROI, and use some of the best equipment to effectively mine cryptocurrencies.