Cloud Mining Investment for beginners

Hello Steemians,

Disclaimer: First of all i am not so expert in mining and what i am writing here is my personal opinion based on my basic experience

That's said:

This post is for people who have less information or no clue about mining, for the people who are already have already cloud mining, I don't think this post is important for you.

Mining in general is basically working like a server for decentralized transactions and records , such as bitcoin, now for this transactions there is fees that are paid from the sender of a transactions, and these fees are mining fees that goes for miners

So while you are mining, you are working as a server for the blockchain and getting paid from the same currency you are mining for.

Now cloud mining is doing just that for you, except in cloud mining you don't need to use your own hardware, instead you buy some computing power called hashrates and from the mining income you pay operating fees for the cloud mining service

Now the fees varies from one cloud mining host to another, but it's approximately between 0.3$ to 0.35$ For a power of one terahash per second , which is the mining power calculation unit

I have been in cloud mining for few months now and i have made my roi already, and when I actually had my roi i reinvested it.. it looks promising keep grow kind of investment

Now there is many type of coins to mine for but i prefer mining for bitcoin because i find it stable when it comes to minig and it's roi takes something between 4 to 6 months, depending on the exchange rate of bitcoin and mining difficulty and some other factors

Now I am investing in a contract called SHA-256

With an investment of 6.31 terahash per second, and getting about 5.5$ daily net profit

Let's speak about the cost
For SHA-256 on hashflare, you can initially start with the minimum investment just to test it with investment as low as 1.2$ and that would buys you 10 gigahash per second giving you approximately 0.011$ per day, which is not bad at all, and it will cost you about 0.0035 as maintenance and operation fees which gives you net income of about 0.0076$ per day

Now imagine what could happened if you invest 1000$ and you compound your income for two years, you will be owning 10,000$ worth of hash power, and that's very good for a lifetime contract

I see mining is big opportunity and we should get into it sense we can do that now, because the more bitcoin prices goes up the more income we will get by mining

Sign up today using my referral code as return of the favor that you heard from me

https://hashflare.io/r/FE6BF2C9-1C0B9034

I would advice you to invest very little for now