Numerous retailers have adopted cryptocurrencies such as Bitcoin, Ethereum, Zcash and Dash on the lookout for a better and affordable source of mining. They are faced with two options; either cloud mining or hardware mining.
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'Free Ethereum Cloud Mining'
What is Ethereum? It is a crypto currency just like Bitcoin and is slowly getting its solid community going up through the years since its release way back in 2015 by Vitalik Buterin. Just like any other crypto currency out there today, people are starting to realize that mining can be rewarding in earning Ethereum. In the real world, to get resources in circulation like gold, we mine them from all over the earth. Just like in crypto currency, we also mine them using computers to solve mathematical problems and the payment would be in crypto currency.
Why Mine Ethereum?
Ethereum has been in circulation since 2015 and two years after its release to the public, Ethereum is part of the A-List of crypto currencies that are being used today. But is it still wise to mine Ethereum today? If you want to mine any kind of crypto currency today, you need to think about a few things. First, you have power consumption, how big is your project? Do you plan to mine with your gaming rig alone? Second would be the Hash Rate of your mining rig. How much can you earn from it? Is it worth the power consumption? Speaking of consumption bring us to the third point which is the power cost. Can you still make a profit after the bills?
Sum it all up plus the Ethereum value and the equipment cost then that would be eԛuivalent to a migraine! Yes, exactly. Mining Ethereum can be profitable, but you need to look into ways on how to do it properly and look for the least-costly option. The first and only option you have aside from mining the crypto currency yourself would be cloud mining. In cloud mining Ethereum, you wouldn’t need to think about everything that I just mentioned above. All you need to do is look for the best website out there that offers contracts then you are good to go!
Back to the question, is Ethereum worth mining? There are a lot of people that have earned through pre-mining months and years ago and have multiplied their Ether wallets ten to twenty times fold. Is it too late? Well, the difficulty of Ethereum has now reached 1000T as shown in the screenshot below from coinwarz.com. Please be advised that the higher the difficulty, the harder it is to mine Ethereum.
The crypto currency market is as volatile as it can get and prices go crazy up or down in just a matter of hours. Is it still worth it? That decision would come on your part as Ethereum is getting stronger by the day, but along with that comes the difficulty of mining one. This is where cloud mining comes in and if you are willing to spend for the contract upgrades, then go ahead. There is no good free Ethereum Cloud Mining. The only way to get "free" Ethereum is faucets but it is not worth the time. You can read more about Ethereum cloud mining and Ethereum faucet.
Ethereum cloud mining is a relatively new product. Ethereum is a decentralized platform and based on the currency Ether. Ether is abbreviated as ETH. Both are further described later on this page. Ethereum and the cloud mining contracts have increased in popularity. Cloud Mining Calculator Contents Crypto compare … gpu and The other crypto bitcoin hecla Mining investments contents entire review calculate mining profitability calculator? Ethereum Cryptonote Scrypt Eԛuihash Cloud Mining. Calculate the profit from Bitcoin cloud mining on MinerGate. Sep 21, 2017 … Mining Profit Calculators, and How To Use Them. crypto compare … gpu and ASIC Mining; Solo
Best Ethereum Cloud Mining Websites
Below are the best websites for you to buy contracts in order to start cloud mining Ethereum. Please be advised that these websites have different contracts and price range. Please make sure to read through their contracts to avoid confusion. Remember that you can make a profit through them from the first month and it would definitely go down the longer you stick with the same program.
- Genesis-mining.com
- Hashflare.io
- Eobot.com
- Oxbtc.com
- Nicehash.com
- How to Identify a Bitcoin or Ethereum Cloud Mining Scam
As a coin has two sides so too is every situation with its pros and cons. This also applies to Bitcoin and cryptocurrencies in general. As more and more people are turning to cryptocurrency, the risk factor involved in the industry rises as well.
Be it Bitcoin, Ethereum or any other cryptocurrency, all of it comes with a vast number of fraudulent activities. Staying one step ahead of the common people, scam artists set such ingenious traps and the naïve easily become their victims.
Therefore, it is important to do proper research before stepping into the world of cryptocurrencies. The fraudulent activities commonly experienced by amateurs on cryptocurrency sites are many; some of them involve the use of scam coins, contracts, and mining rigs. It doesn’t end here though; the fraudsters are evolving day by day as technology evolves. Thus you should be very alert while indulging in any crypto trade or business. Moreover, figuring out the authenticity of any Bitcoin cloud mining contract can be a difficult task; many websites can write fake reviews for a particular contract firm in exchange for a certain sum of money.
Thus, it is best not to invest in Bitcoin, Ethereum or even Litecoin on the basis of surface knowledge. Proper research from genuine sites and complete analysis before taking any decision must be key points to stay out of any scam and end up losing hard-earned money.
How can you Prevent cloud Mining scam?
Some of the traits which scamsters use nowadays include:
Keep in mind:
This is only a sample.
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- They never register the domain name in the name of any real user; also, they never reveal the domain name.
- In order to provide an illusion of prestige and authenticity, they register a company whose directors are foreigners instead of local citizens as forging the documents is easy abroad.
- When asked about proof for verification, fraud sites usually provide vague answers.
- To provide an illusion of honesty and confidentiality, the initial funds that the client invests, are used to make payments, keeping aside the funds received.
- The fraudsters show a verifiable Bitcoin address from where they make the payments which eventually will stop paying someday.
- They focus more on promotion instead of ԛuality substance which is usually baseless and vague.
- The websites to whom the verification of the company is not a priority make the advertisement; also those websites write favourable reviews in exchange for a large sum of money.
Keeping the above points in mind and staying alert over the internet investment in Bitcoin, Ethereum or any other cryptocurrency, cloud mining scam can be prevented.
