Why Cloud mining is a great investment
What is Cloud mining?
Cloud mining is really useful for those who aren’t technically minded and don’t want to run their own software or hardware.
If you have very high cost electricity too – for example in Germany – then it’s a good idea to outsource your mining to somewhere where electricity costs are much lower as they are in America.
How to start Cloud mining?
There are a few suppliers that offer contracts for which you can buy or rent "mining power" from another company.
My personal and most trustable favorite: Hashflare
What is Hashflare?
HashFlare is a department of HashCoins, a company that develops software for cloud mining and maintains equipment in datacenters. Hashflare is one of the most trustrable companies that sell mining contracts. They exist for as long as cryptocurrency is around and have proven to be legit and a stayer.
Then why am I only posting about Hashflare now?
When the Crypto market developed into a bearmarket my income stream from Hashflare dropped massively, next to this the company increased their pricing for new mining power back in december to 220$ per TH.
Recently they have been working really hard on improving their mining equipment and reducing the mining fee's, this way they managed to drop their prices massively!
1TH mining power now costs only 60$... That is a massive price drop of more than 70% for buying the same amount of mining power. Now this is kind of harsh for early adopters who bought contracts at the higher prices, this includes me, but we need to accept that this is how companies run their business. The current price just provides a great opportunity to enjoy the next Bitcoin bullrun and its profits... An opportunity for you!
What can Hashflare provide?
One year mining contracts for:
- SHA-256, Bitcoin mining (most recommended)
- SCRYPT, Litecoin mining
- ETHASH, Ethereum mining
You will receive daily Bitcoin payouts coherent to the amount of mining power you are renting. The profit you make depends on the price of Bitcoin, mining difficulty and the maintenance fee of Hashflare. The higher Bitcoin is priced, the lower the maintenance fee is and the more daily BTC you will earn, this is because the maintenance fee of Hashflare is calculated in dollar value, not in BTC.
Next steps?
Yesterday I bought 4TH of SHA256 to bring my total to 11.5TH... This way I compensate for the mining power I bought at a higher price.
If you are also interested in finding a new source of income and start Cloud mining on Hashflare, feel free to register an account which takes less than 5 minutes:
REGISTER HERE
I would recommend only buying their SHA 256 contracts and at least buying 4 or 5TH to make sure that the mining fee doesn't impact your profits too much. The SHA256 contracts are the most profitable right now.
I believe in Crypto: This includes Hashflare! IMO it's a very good buying chance and at these prices you really can't be making a bad investment. It's a unique opportunity to earn Bitcoin and build a form of passive income.
Will you join the Cloud mining revolution?
Don't miss out on this one! The price per TH is really cheap.
If you have any questions about Hashflare or Cloud mining, please don't hesitate to contact me.
Leave a comment and I promise to get back to you asap.
Let me know your opinion in the comments:
- Do you need more explanation?
- Do you like Hashflare?
- Is something not clear?
- Do you not agree?
Please let me know!
Thank you for reading.
Feel free to upvote, comment, resteem and/or follow my blog @maxdigi if you like my content. I greatly appreciate your support!
Kind regards,
MAXIDIGI
I will join. Thanks for the post. Waiting for your next post.
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Great news. If you need any help feel free to contact me!
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You got a 2.99% upvote from @brandonfrye courtesy of @maxdigi!
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Release the Kraken! You got a 1.71% upvote from @seakraken courtesy of @maxdigi!
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Well, if there is going to be a "Big Summer bull Run" Isnt buying Bitcoin directly now and storing it safely for 1 year the easiest and most profitable option? Why are you recommending people to put money in hashflare? Due to mining difficulty variations, hashflare always produces less bitcoins than their calculation shows.
On a lighter note, I dont understand whypeople say " I believe in Crypto" and then recommend a centrelized cloud mining firm with referral link.
The only passive income in hashflare is referral bonus. Paying money upfront and getting a pieces of it daily, is not passive income. Providing selective information and luring people to get a referrel bonus does count as a passive income though.
If you believe in crypto, mine it. If mining is expensive for you, buy and hold. Whenever possible use crypto instead of fiat in real world.
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Thanks arismic for your detailed response. In the end it's all about diversifying your income streams; I already have bought Bitcoin and I am HODLing but it is also nice to increase your amount of Bitcoin. When you buy Bitcoin and HODL, only the dollar value will change, not the amount of Bitcoin.
If you choose for Cloud mining Hashflare you get the chance to invest a certain amount of Bitcoin and earn more Bitcoin over time...
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Nope. Thats what my whole point is about. Cloud mining wont help you to earn more bitcoin.
If you buy bitcoin, the count wont change. If you invest in cloud mining, you will end up getting less bitcoin than buying it in first place. Post 2016, Cloud mining always produces less bitcoins than buying with the same amount of money. The reason is increasing mining difficulty(almost 40%/ month).
When you can buy more bitcoins for the same price right away, why one needs to put money in a third party company, which will give less bitcoin for the same price over a period of time?
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Any proof of these statements? I have calculated it for myself and I am going to get more BTC than I used to buy my mining power. Now it is true that I have received some referral bonusses.
Anyway the profit really depends on the price of Bitcoin and the mining fee that gets substracted from the revenue. If Bitcoin gets back to ATH and stays there for a while, my BTC amount will stack up faster than ever before :-)
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Not sure what do you mean by you "calculated it". In your calculation, did you include the 40 percent average mining difficulty every month(per 2017). Meaning every month, bitcoin generated through same hash power is going to reduce. By 12 th month you would almost get nothing mined out(comparing wigh first month). If you are using coinwarz are something similar to calculate, your calculation could be extremly wrong.
Example, when i did a calulation for eth using coin warz, it showed 21 eth will be mined. But when i included 2017's difficulty in calculation, ETH produced is 6 only. The calculation was incorrect by 70 percent.
Also, if the price reaches ATH, difficulty will increase further as a result, lesser coin will be mined.
Either ways, you will end up getting less profit than simply buying bitcoin directly as ur contract will end up producing less bitcoins.
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The best video proving how HashFlare works
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