AVERTISSEMENTThe vast majority of Cloud mining sites are only vulgar ponzi scheme scams
- free hash power
- live streaming to observe ASIC miners
- good ROI
Warning: High risk of scam!
Cloud mining sites require an initial investment in order to have a rapid return on investment (between 0.2% and 3% per day), many people take advantage to create scams.
They propose to invest and have a very fast ROI. However, once the offer is closed, the site closes. It is very complex to differentiate between companies that actually have mining machines and those that just pretend and are ponzi schemes.
How cloud mining appears ?
If you've never heard of crypto-currency, know it's been around for some time now, and it's been making people talk about it every day. This monetary revolution is decentralized and uncontrolled. It seduces more and more people, like Japan recently which will authorize payment in Bitcoin in more than 260,000 stores by the summer of 2017.
There are other crypto-currencies (which can also be mined) and others that can just trade, such as Ethereum, dash, litecoin, Ripple, PIVX, etc....
Cloud mining has therefore appeared. Initially, you had to be able to set up a server by yourself, at home, or on other servers (such as Amazon Web Services). The adventage of these services has allowed the beginners to participate in this adventure.
How to mine in the cloud ?
As you will have understood, we can "mine" the bitcoin, but also other crypto-currencies. The mode of operation is quite simple: calculation resources are made available for the network to continue to last, thanks to the calculations made during this "mining".
This power allocation will allow the transactions of these currencies to be validated. At first, other than on servers, miner could be done at home, with a computer, because it is the GPU power (graphics card) that will be used. This machine runs all the time, consumes quite a lot and the output is not the best.
Afterwards, we could see more expensive machines on the investment, but more optimized, with several graphics cards as well as an optimization and a lower electricity consumption. Cloud mining was therefore born: it is a question of mining in the "cloud ".
So we're going to go through a company, which allows that. It has all the necessary equipment and we are only paying for a power that will be allocated to us. No more equipment to buy and maintain, no more consumption worries, etc....
Then you have to choose carefully, and see what is the most profitable to mine!
Buy and Collect
Before starting hostility, you will need to buy bitcoin (BTC) or other accepted currencies accepted on the cloud-mining sites. For the purchase of Bitcoins (BTC), you can use among other Coinbase for example or many other purchase / sale crypto-currency site. Coinbase is very well known, and secure. beware of other sites, check them out.
Take an example with Genesis Mining website. This site has a lot of positive points (price, support, great community for the exchange of the promotional codes of 3%) and moreover, the proposed referral programm is pleasant!
Tip : you can take the link of the Genesis Mining review on NBR and get a lot of referrals ;-)
When you use a code, the person in return will do the same (in most cases). Some of them are super nice, we learn a lot of things there, which makes the adventure dynamic. Spending hours listening to and commenting on a particular topic can be very enjoyable.
As mentioned above on the functioning of cloud mining, here we will allocate power to mine, paying for it. The minimum contract is $30, which allows you to start earning the fruits of your mining every day! It is possible to start with $30 but you have to reinvest quickly because you don't make a lot of money with a $30 investment, but it allows you to take control of the site.
Every day, the fruit of mining via cloud-mining is sent every day to the your wallet.
It is strongly recommended that you use 2FA (two-factor authentication) in your account to increase security. To finish with this "safety" section, even if it's a piece of advice, or an absolute rule to follow: INVEST ONLY WHAT YOU MAY ALLOW!
There is a better chance that everything will go well, that the developing currencies will continue to rise in value, that the bitcoin will continue to rise, and so on. BUT, you never know what can happen, so keep that in mind!