What is cloud mining, List of top 5 cloud mining platforms

What is cloud mining

You want to mine Bitcoin, but you don’t want to deal with complicated hardware, the electricity cost is also very high in your area and you don’t have enough money to buy a setup for mining Bitcoin. Don’t worry, you can still mine Bitcoin with the help of cloud mining services. All you need to do is buy some shares, and cloud mining companies will do the work for you.

Cloud mining firms provide contracts of one to twelve months which you can take and the company will mine for you. It also provides the option of 500 to 1000 giga hashes per second. You can choose according to your preference.

Cloud mining platforms can be divided into two categories. Host mining and Rental Hash mining.  Host mining all you need to do is purchase or lease rigs on the mining farms. In Rental Hash Power you just need to subscribe to a plan, and when a new block will be mined the profits will be split between the people who have subscribed to the plan.

Cloud mining looks very appealing, but you have to be aware of the risks associated with cloud mining. It is important to be mindful of the risks associated with cloud mining, as some scammers may offer mining subscriptions but fail to deliver on their promises. So before investing in any cloud mining company, ensure the company is legitimate, verified, and safe.

The top Trustable cloud mining platforms are:

Happy miner

Happy Miner was founded in 2018. The company uses modern electricity use approach. Till now, the company has gained a substantial user base of 2,800K users who withdrew $369M+. It runs its operations in three countries which are Canada, Norway, and Iceland. They use hydropower and wind power to produce electricity.

Binance cloud mining

Binance is already a very trusted brand in the field of cryptocurrency. Now it also provides services of cloud mining. Along with it this platform also provides features such as: Low entry threshold. Users even with mining funds can contribute to the process of mining because it has plans as low as 10$. Also, it provides a very user-friendly interface which will encourage more and more users to invest in it.

Ecos Mining

This platform provides 24/7 support for users so that all the queries of the users get solved anytime. This platform was founded in 2017. The special thing about this is that it provides support for all the popular cryptocurrency platforms like Bitcoin, Ripple, Ethereum, and litecoin. The platform also provides detailed stats of the transactions and users can also access the mining logs.

Nicehash

It is one of the leading hash power marketplaces. You just have to buy a package and it will provide you with the valuable block reward that you deserve. Till now it has mined 54 bitcoins, 271 LTC, 1367 Dogecoin, and 25855 RVN. Its cheapest package price is $2.68, which can provide a block reward of up to $47.20 This package is called Chromium S. It also has a variety that users can choose from.

BeMine

All you need is to Sign up. The platform offers five days of free mining as a complimentary reward with their first purchase. Currently, it has 200,000+ users and 700+ bitcoins are already minted on this platform.