How to find a profitable Bitcoin cloud mining service?
Bitcoin cloud mining is one of the methods of crypto mining that does not need the purchase of hardware, setting up mining systems, and general implementation. In this method, you buy the processing power of connected servers that are equipped in a mining farm with a certain amount. In these farms, the mining is done by these servers and devices. Finally, the obtained currency is transferred to your wallet after being collected.
By this method, you will have almost no need for technological knowledge of the installation and operation of Bitcoin cloud mining devices. You only pay according to the contract you have with the company that is in the field of cryptocurrency cloud mining service. After paying the amount, you will get a certain amount of Hash Power. A hash rate, in simple terms, is the processing speed that a piece of hardware can have in the currency mining process.
An organization that provides a cryptocurrency cloud mining service owns one or more mining farms around the world. All bitcoin or other cryptocurrency mining equipment and devices are located on these farms.
Why is Bitcoin Cloud Mining needed?
Currently, Bitcoin mining is not practically possible for independent people for the following reasons.
· It requires a lot of capital.
· It has a high risk.
· In some countries, there are legal conflicts for mining.
· High electricity tariffs make bitcoin mining only marginally profitable in many countries.
The above reasons make people in the world look for better ways to enter the field of bitcoin mining.
There are companies in the world representing services called Bitcoin cloud mining.
In cloud mining, companies provide the hash power from mining farms which are constructed in almost cooler areas.
Among these countries are Iceland and Russia, where either the cost of electricity is low or it is easier to cool the devices due to the cold weather.
The Bitcoin cloud mining companies then lease part of the processing power of these devices, which are distributed in different countries, and allocated them to users for a certain amount of money. Some of these companies also charge a fee for maintenance and electricity.
You can buy some processing power in proportion to the amount you have paid by registering on the company’s website, paying the rent and maintenance costs. With this processing power, you can participate in Bitcoin mining.
In this system, you do not have to worry about the cost of electricity, device failures, internet connection, or even configuring and installing software, and you shouldn't put time into controlling and monitoring the miners’ performance. You only rent an amount of hashing power in a Bitcoin cloud mining company and these machines will mine bitcoins or any cryptocurrency you want.
What are the benefits of Bitcoin cloud mining?
· There is no need to set up complex mining devices, and mining begins immediately after purchase.
· You do not need to acquire technical knowledge.
· You do not need to take the time to make a profit.
· You can earn credible currencies with the least risk.
· No need to run loud hardware facilities at home.
· No need to pay for extra electricity. For bitcoin cloud mining, a small and completely transparent monthly fee for electricity, and maintenance of devices, is received from the subscriber.
· You do not have to buy expensive hardware to mine.
· If you want to sell mining hardware, the customer will be easy to find.
· You do not need to set up a proper ventilation system.
· You will not face any hardware or software problems related to crypto mining.
· Bitcoin cloud mining has more revenue stability and security than personal mining.
What are the disadvantages of Bitcoin cloud mining?
· The most important risk in cloud mining is the risk of fraud by the service company.
· The company may be non-transparent and do not reflect actual revenue.
· If you are interested in learning mining methods, you cannot be trained in this method.
· Subscribers are given less profit because cloud services have to pay for themselves.
· There are many scams in the field of cloud mining.
· The mining process may be stopped due to high mining costs.
Why are cloud mining companies established?
The most important thing that users get in this business is that the revenue they earn from bitcoin cloud mining is more than purchasing mining facilities and paying maintenance costs.
In this case, why does the company provide such services at all?
It seems if the company mines bitcoin with the same devices, it will earn more.
There are two answers to this question.
1. The bitcoin cloud mining companies earn a steady income by splitting part of their monthly maintenance and rental expenses at the beginning of the month or the beginning of the contract. This fixed income is independent of price changes, network difficulty, and events that occur in the network of cryptocurrencies. So in exchange for a reduction in income, they also reduce their risk. In essence, we can say that they pass on the risk of price changes, and the bitcoin network to customers.
2. Customers are also satisfied with this business model. They can make a regular investment with the least possible work. They can safely earn money from their investment.
What is an example of how to work with Cloud Mining?
Crypto cloud mining means purchasing a specific hashing power from a central platform. This platform also manages one or more mining platforms. For example, suppose you want to buy 10TH / s of bitcoin mining power from one of the cloud mining platforms.
Such platforms practically lease some of their bitcoin cloud mining hardware that can be obtained at a reasonable price in the market. Users usually pay the initial amount, which varies depending on the hash rate. So they will be allowed to sign a contract with the service provider for another year or so in the future.
After that, each month a portion of the revenue allocated to the user is retained by the bitcoin cloud mining company.
This retained amount is used to pay operating expenses such as electricity, cooling, maintenance, etc. in the form of profit.
Suppose a company sells a power equal to one Terahash / s on its website. The company needs several devices that can deliver a hash rate equal to one Tera hash per second. Therefore, instead of mining the cryptocurrencies directly, the company can offset most of the initial cost of purchasing the mining hardware in a very short period by virtually selling its hash rate.
What is the return on investment in mining?
There are risks involved in any way you try to mine cryptocurrencies. Of course, if you make the right decisions, it is possible to make a profit.
When calculating to find the benefit of Bitcoin cloud mining, you will find that some cloud mining contracts are profitable in a few months. But after increasing the mining difficulty, your profit will probably decrease as well. If the price of the currency falls or does not grow, the profit will be lower.
One solution to this problem could be to reallocate bitcoin mining revenue to buy hashes, in other words, buy more mining contracts from the cloud mining service. Of course, this is strongly based on speculation, and it is not possible to calculate the possible profit or loss with numbers.
As mentioned, fraud risk and lack of proper management are common factors in Bitcoin cloud mining. When looking at any cryptocurrency cloud mining service, it is best to first research the service on social media and discussion forums, and read the comments of others. When you want to invest in Bitcoin cloud mining, like any other investment, you require time to analyze it carefully.
Bitcoin cloud mining calculator
How can the profitability of bitcoin cloud mining be calculated?
Mining cryptocurrencies in this way could be a good source of income. Of course, because the companies that sell these contracts have to spend a lot of money on maintenance costs. So, much of their revenue is deducted and a lot of mining revenue is lost.
However, many users pay to buy bitcoin cloud mining contracts from these sites. They hope to make a profit in the future by increasing the price of digital currency.
To calculate income in the profit calculator, you must enter the hash rate values in the hash rate plans for different currencies. The hash rate of each plan is well defined.
So to calculate revenue, just enter zero in the bitcoin cloud mining calculator, instead of the cost of electricity, the cost of the machine, and the cost of the mining pool. Then enter the amount of hash rate. Finally, you will see that the money you paid for your plan will be refunded after a while.
Note that each currency has its unique calculator. For example, the calculation of bitcoin mining revenue is different from Ethereum.
What is the most reputable cloud mining service provider?
Currently, the Minerland website seems to be one of the best crypto mining sites in the field of hash power sales.
According to their website, the company has several offices in Georgia, the US, and some other Asian countries. This site has proven to be very profitable for Bitcoin cloud mining subscribers. If you want to buy crypto mining contracts from this site, you can simply buy different cloud mining plans with cryptocurrencies or credit cards.
Minerland offers a smart and easy way to invest. It is suitable for beginners in the field of cryptocurrencies. The Bitcoin cloud mining system is also a good option for professionals. Minerland has a multi-algorithm cryptocurrency cloud mining service. Therefore, it is suitable for people who want to be active in the field of bitcoin mining and altcoins mining.
Minerland has a professional team in the field of cryptocurrencies. The Bitcoin cloud mining service provided by Minerland is designed to be the most efficient and reliable.
What are the different cloud mining plans on the Minerland site?
As you can see on the Minerland website, different plans of Minerland cloud miner center exist in Minerland. Each plan has different hash rates that have been defined on the Minerland site. Plans of Minerland are offered in the form of four packages named major, captain, soldier, and the Lord.
These plans have been created for different currencies and it is possible to purchase the cloud mining plan of Bitcoin, Bitcoin Cash, Bitcoin SV, Z cash, Dogecoin, Monero, Dash, etc.
How to earn points in Minerland services?
Minerland has used a variety of methods to attract crypto enthusiasts. Users can earn points for themselves on this platform without paying. Then they can participate in investments of bitcoin cloud mining with their points.
· If you buy a package of Minerland, you get several points depending on the package.
· If you introduce your friends and acquaintances for participating in Minerland cryptocurrency affiliate program. Each person is given a referral code, so you can earn points depending on the number of purchases they make.
· If you install the Minerland best bitcoin mining app on your mobile phone. Then suggest installing this application on your friends’ devices. By installing this app on your friends' devices, the chances are to get points if they purchase a package.
What will be the future of bitcoin cloud mining?
The future of bitcoin cloud mining is determined only by the development of mining technologies. Everything will depend on the power of computing. With fifth-generation technologies (5G), big data technology, etc., the demand for network presence as a miner will increase.
The most important role in the future of bitcoin mining will be played by the mining industry. The devices that have sufficient technical power and are economically justified can be accepted globally. The continuity of this industry is determined by bitcoin cloud mining services. They can have a stable presence in the network by being aware of the risks of mining, changing the cryptocurrency market, strategies, and tactics of this market.