Top 10 Best Trusted and Safe Bitcoin Cloud Mining Sites of 2020

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Best Bitcoin Cloud Mining Sites 2020
Best Bitcoin Cloud Mining Sites 2020

What is Cloud Mining

Cloud mining is the process of mining cryptocurrencies like Bitcoin and Ethereum without needing to purchase any hardware. Ordinarily, the hardware required to mine cryptocurrencies on a DIY basis can cost thousands. Moreover, with the underlying blockchain increasing its difficulty levels over time, newly purchased hardware devices soon need to be replaced with even more powerful devices – subsequently making your investment redundant.

You then need to factor in the costs of running your hardware, not least because you will be required to have it operational 24 hours per day to stand a chance of making a profit. As such, powerful mining devices require an obscene amount of electricity to function, which is yet another cost that will eat into your long-term ROI. This is where Bitcoin cloud mining comes into play.

In its most basic form, Bitcoin cloud mining allows you to access the cryptocurrency mining space from the comfort of your own home – without needing to purchase any hardware or consume any electricity. On the contrary, you will be investing funds into a fully-fledged mining operation that already has the required framework to mine successfully.

In doing so, you will receive a share of the mining profits – proportionate to the amount you invest. This allows you to see a return on your investment from day one, as Bitcoin cloud mining platforms typically payout on a daily basis.  You’ll then have the opportunity to re-invest your profits, meaning that you can benefit from the fruits of compound interest.

However, it is important to stress that the Bitcoin cloud mining space often operates like the Wild West.  While there are a number of established and credible platforms out there – many are not. In fact, there have been countless cloud mining platforms that simply disappeared overnight – taking investor funds with them along the way. As such, you need to tread with extreme caution.

What are the Pros and Cons of Cloud Mining

The Pros

  • Higher Profits – because mining providers optimize everything for you, it yields out higher returns.
  • Tranquil and cooler home – no more sound and heat.
  • Less electricity – the consumption of electricity will get a lot lower.
  • ‘No’ equipment maintenance – no need to sell the hardware, when they stop being profitable. No tension in the configuration of the hardware.
  • Simple and Ready to use: Signup with these providers and start within minutes.

The Cons

  • Scam Risk – It always involves the risk of being scammed. Stay away if any mining offers you exceptional returns on your investment.
  • Cost of Mining Operations – users have to pay for the hardware management cost.
  • Unpredictable profit: Profit depends upon various factors. If the value of the coin goes down it may become non-profitable also.

Top 10 Best Trusted and Safe Bitcoin Cloud Mining Sites of 2020

Bitcoin Pool

Bitcoin Pool (mining.bitcoin.com) is provided directly by Bitcoin.com and aims to provide the most competitive clouding mining service. Bitcoin advertise that they deliver the highest Pay Per Share (PPS) pool globally with a 98% block reward.

Set up is easy and you can start mining immediately, either on Bitcoin Cast (BCH) or Bitcoin Core (BTC), whichever seems the most profitable to you. Monitoring is also easy to do through mobile apps for Android and iOS, so you can keep track of your account usage and value as often as you want.

Hashnest

HashNest.com, founded in 2013 by Bitmain, is one of the earliest companies to provide cloudmining services and trusted by more than 400,000 users worldwide.

Hashnest hosting multiple brands of miners, like Antiminer S17, S15, Z11, Whatsminer M21S, M20S, etc. You can mine Bitcoin, Litecoin, Zcash and Dash here, Hashnest will support more cryptocurrency mining in the near future. The cloud mining contracts in Hashnest can last a lifetime, as long as the market persists. It’s extremely advantageous for users who want to mine long term. Imagine the amount of coins they could acquire during the long mining period, there’s no end to it!

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Another distinctive feature of Hashnest is that users can buy or sell hashrates freely on Hashnest market. Every type of hashrate has its own market. For users who prefer to start small or earn extra returns by selling off your hashrates, Hashnest trade market is always a good choice for you.

HashFlare

HashFlare.io is a cloud mining service created by the specialists from HashCoins in 2015. In a short time, HashFlare became one of the largest providers of computational power for mining bitcoin, litecoin, ethereum and other cryptocurrencies.

From 2016, HashFlare is an independent company. The variety of equipment that is used for mining was significantly increased on the account such companies as Bitmain, Bitfury, Inno3d and others.

The team of HashFlare LP has always put the task of making mining accessible not only for crypto enthusiasts but also for common users. Through tremendous work made by the engineers, developers and other specialists of the company as well as partner companies, we have succeeded in providing the service to over 25,00,000 users.

Hashing24

Hashing24.com was made by professionals for individuals who want to get involved in cryptocurrency mining. Hashing24 believe that everyone should benefit from the mining and be able to have access to the newest technologies and large-scale industrial data centers from your laptop or mobile phone.

The Hashing24 team has been involved in a mining business since 2012. Hashing24 constantly exploring the crypto marke.

  • Hashing24 stay informed about the major players in the cryptocurrency mining space.
  • Hashing24 constantly monitor new innovations and implement them for you.
  • Hashing24 choose the most reliable and reputable partners with the best equipment and data centers, which allows us to increase the selling capacities constantly, while providing our customers with the best opportunities.
  • Hashing24 ensure our partners provide warranties for their equipment and its maintenance, meaning Hashing24 will hold them accountable for any disruption to your hosting for mining.
  • Hashing24 constantly evaluate new partners in order to provide you with the best speed, capacity and performance.

Hashing24 cooperate with different mining companies. Hashing24 initial supplier of mining power is one of the industry’s leaders – BitFury.

Eobot

Eobot.com, operational since 2013 and located in the United States. They are the easiest, cheapest, and best way to get or mine Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Ripple, Dash, Tron, Cardano, CureCoin, NEM, Monero, Zcash, Tezos, Bytecoin, STEEM, Lisk, EOS, USDC, Stellar, Ethereum Classic, and Grin. Whether or not you use our Cloud Mining or your own hardware, you can mine any cryptocurrency, regardless if it is based on a SHA-256 or Scrypt algorithm.

They also have is a real-time exchange allowing trading between Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Ripple, Dash, Tron, Cardano, CureCoin, NEM, Monero, Zcash, Tezos, Bytecoin, STEEM, Lisk, EOS, USDC, Stellar, Ethereum Classic, and Grin.

Genesis Mining

The story of Genesis-Mining.com started at the end of 2013. Founders of Genesis Mining got to know each other by using the same platform for buying and selling Bitcoins. They were fascinated by the technology and wanted to build their own farm, only to realize all their friends wanted to participate as well.

They came up with the idea of mining as a service and built the first mining farm in Eastern Europe. Since our founding, we have grown tremendously and a lot has happened, but one thing remains constant: We are all strong believers in the future of digital currencies and we love being part of this growing community.

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Genesis Mining is one of the leading hashpower providers in the world, offering cryptocurrency mining capacities in every range – for newcomers, interested home miners, as well as large scale investors. Genesis Mining mission is to make acquiring cryptocurrencies easy and fast for everyone.

Genesis Mining provide a multi-algorithm, multi-coin cloud mining service using the latest technology – without any pool fees. The ultimate goal of Genesis Mining existence is to make cryptocurrency mining an easy, smart and rewarding experience for all. Genesis Mining services already attracted more than 2.000.000 people.

IQ Mining

IQMining.com was founded at the end of 2016 by the team of experts in blockchain programming and IT engineers.

IQ mining uses smart mining techniques at affordable prices. It offers the most profitable cloud mining contracts for popular cryptocurrencies. Their profit calculations based on the most efficient mining hardware with minimal contract maintenance costs. They offer Bitcoin payments on a daily basis depending upon your purchased MH/s power. They offer a mining contract for 1 year to a lifetime. IQmining supports mining contracts for Bitcoin, BCH, LTC, ETH, XRP, XMR, DASH, and many more cryptos.

CryptoUniverse

CryptoUniverse.io was based at one of the largest 20 MW European mining center and was commissioned on February 14, 2017. Absolute transparency of cloud mining service is the key goal of CryptoUniverse.

CryptoUniverse was created by true crypto enthusiasts. They deeply in love with the crypto economy and unlimited opportunities it provides. They enjoy the importance and innovations brought by blockchain technology and work hard on the development of crypto community. Their main force is the team behind CryptoUniverse. They all are diverse but brought together by the shared dream of creating the biggest technological cluster in the world and making cloud mining accessible to everyone on the Earth.

Hashgains

HashGains.com is the leading cryptocurrency mining service provider in the world. HashGains team of professionals have strong faith in the future of cryptocurrencies and therefore working dedicatedly to make mining accessible to everyone, regardless of location, age, experience, and investment.

HashGains is group company of 1500+ strong professionals and 2 mega data center’s parent Cyfuture with experience of over 15+ years in Data Center Industry serving 10 of 500 Fortune 500 Customers.

HashGains crypto mining team came from different scientific disciplines and constantly monitor latest innovations and implement them in order to benefit investors. They have large-scale industrial data centers with state-of-the-art technology to host the diverse and complex mining environments. At HashGains, we’re using world’s best ASIC (Application specific integrated circuit) and GPU (Graphics processing unit) machines to generate best returns with high efficiencies.

HashGains state-of-the-art cloud mining data center offers a great option of Bitcoin mining or other cryptocurrencies with minimal expense and risk.

HashGains make sure that there mining partner provides warranties for the mining equipment and maintenance. They keep on evaluating the best solutions so that we can provide the excellent capacity, speed, and performance. Hashgains provide a wide range of services, including –

  • Different Hashpower with 99.95% Uptime
  • Instant Coins Deposit to the Account
  • Excellent Efficiency with Upscale Equipment
  • 24/7/365 Technical Support
  • Legit Mining – All New Coins

They stay updated about the major activities and players in the crypto mining space.

How do I Choose a Cloud Mining Site

Choosing which platform to use in your quest to profit off of cloud mining is the most difficult part of the process. This is because the industry operates in an unregulated manner, so your money is never 100% safe.

Nevertheless, we’ve listed some of the main factors that you need to look out for prior to joining a new cloud mining site.

Reputation and Track Record

Although cloud mining platforms are not regulated, you still have a plethora of information available to you in the public domain. Firstly, check to see when the cloud mining site was launched. The longer it’s been operational – the better.

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You should then explore websites like Reddit to assess public perception of the cloud mining provider. If there are consistent complaints from past investors of the site, you should probably avoid it.

Supported Coins

You also need to consider the type of cryptocurrency that you wish to fund your cloud mining account with. If the platform doesn’t support a coin that you currently hold, this means that you will need to go and buy it.

This is likely to increase the cost of your investment when you factor in exchange fees, so assess what coins are supported before opening an account.

Mining Equipment

Cloud mining platforms are required to have a fully-fledged mining rig set-up that is able to consistently win block rewards. If it doesn’t, you won’t stand a chance of making any money. At the forefront of this is the hardware devices that the platform owns.

As we noted earlier, miners are often required to constantly upgrade hardware devices as and when the blockchain difficulty level increases. As such, explore the set-up of the cloud mining site in question and crucially – what hardware it owns.

Location

The location of the cloud mining platform should also play an important role in your decision-making process. For example, you’ll want to choose a mining operation that is based in a country with cheap energy prices. This is to ensure your yield is not eaten into by ever-growing electricity consumption.

Similarly, you’ll want to choose a cloud mining site that is based in a crypto-friendly location. If it isn’t, there is always the chance that the operation is closed down by local authorities.

Minimum Contract

It is important to assess the minimum contract that your investment will be tied to. For example, if the cloud mining site requires all investors to commit to a one-year contract, this means that your principal investment won’t be paid back until the year concludes. This could be problematic if you experienced a short-term cash-flow crisis and need to cash out your investment.

Fees

Cloud mining companies are in the business of making money. As such, you will need to have a firm grasp of the underlying fee structure. In some cases, you might get charged a variable fee based on the amount of electricity that is consumed. In other cases, the cloud mining site might take a percentage of the amount you receive in gains. For example, the platform might take 10% of your 0.0001 BTC mining reward.

Moreover, you need to assess whether or not the cloud mining platform shares both the block reward and block transaction fees, or just the reward. In a lot of cases, platforms will keep the transaction fees that they collected when they won the block reward, meaning you are missing out on additional yield.

Conclusion

If you’ve read our guide on Bitcoin cloud mining from start to finish, it is hoped that you now have a firm understanding of how this space works. This should include the factors you need to consider in choosing a cloud mining site, as well as assessing which cryptocurrency to mine.

Most importantly, you are also aware of the many risks of investing in a cloud mining site – such as being locked into an unprofitable contract or operating in a bearish cryptocurrency marketplace.

With that said, cloud mining does offer the potential to make small, albeit consistent, profits. There is no requirement to purchase any expensive hardware devices, nor do you need to worry about electricity consumption. Instead, you simply need to decide which coin you want to mine, how much you want to invest, and that’s it.