RE: The Safest Way to Start Cloud Mining Bitcoin and How to Calculate Your Passive Income

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The Safest Way to Start Cloud Mining Bitcoin and How to Calculate Your Passive Income

in steemit •  7 years ago 

Please, don't go into Genisis Mining. Cloud mining is only profitable for Genisis - no real transparency were your hashpower goes and the contracts without end mostly get terminated after a 1 year or 2, often without notice (after 20 days of no profit in mining you get terminsted. Read the ToU!). XMR for example with 50$ for 60H/s - even after 2 years you most likely will only get your investment back... Think twice before going into cloud mining, buying and holding cryptos is often the better choice with a much better ROI.

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I appreciate your comments. I have done well with GM mining only Bitcoin. This is based on the price of bitcoin and the split. However, I am diversified and own my own mining equipment and do my own mining. This is of course in addition to holding my own coins in my portfolio.