Table of content:
- Reliable cloud mining of bitcoins
- Cloud clearing earnings – what income and payback.
- Cloud mining or your own farm?
- Cloud mining to buy
- Mining as business
What do i need to start bitcoin mining? Many ask this question, we would like to give a detailed answer. The current development of the cryptocurrency allows us to carry out not only entertainment and educational activities. The agenda raises the question of how to mine the bitcoins. Users are interested in the most profitable ways, and we are ready to highlight useful advice and give a very detailed instruction that will highlight the essence of the matter.
The chance to improve the material situation by mining bitcoin is completely justified, because after the appearance of bitcoins this possibility has become much more accessible. In addition, to date, the cryptocurrency is being mined with the help of various entertainment resources, while at the same time increasing its income. Absolutely any user can carry out mining. However, it is necessary to possess some information explaining the whole principle of the process. The production of BTC (bitcoins) is possible in a variety of ways, so each person is offered a choice field for the most convenient and profitable option.
And so we start with the fact that for today Bitcoin is only mined on Asic or using Cloud mining. We will say right away, calculated for a long time whether it is advantageous to mine bitcoins in 2017 with the help of the asics, and it seems to us that it is not. Firstly, you need a lot of kilowatts of the outlet, and you pay a lot for the light; secondly, a profitable scheme is when you mine for half a year and sell it profitably, then there is a profit, and thirdly, you should buy the latest version asic – antminer, and its price will be about $ 7-8 thousand, do you immediately have such money? Probably, you do not. It is worthwhile to think: have you a free and powerful outlet? No?
Then you need to start cloud mining, and by the way what is the advantage of cloud mining of bitcoins in 2018? Firstly, you do not need to buy anything physically; secondly, you do not have to pay for light; thirdly, you do not need to look for a cool place where to keep Asic and how to cool it. So, there is cloud-based mining.
Reliable cloud mining of bitcoins
The only thing that you need to conclude is a contract for at least a year, well, this is better for us, because it’s more profitable especially when you make refinancing. We advise several sites and services in the cloud-mining.
Hashflare is a good site, pays stably since 2014, works without complaints, there were claims, in addition to BTC there is still ether, x11 dash, scrypt and ect. Bitcoin capacity is leased indefinitely.
Genesis-Mining is also a good service, running BTC, ether and monero, regularly pays, no complaints. There are a lot of interesting things, but the first one we prefer more.
The power for bitcoin mining should be rented for a year, so you register for Hashflare or Genesis-Mining, and earn, and do not bother like with asic and sleep at night quietly.
Cloud clearing earnings – what income and payback
The income exists, everything depends on how much you invested, the payback is about 5 – 7 months, this is if you withdraw money, but they need to put at least 20% for reinvestment. So income will be more through time, and mining will not end in a year.
Cloud mining or your own farm?
How to mine bitcoins at home and what we can see pros and cons compare to your own equipment, if the investments are equivalent.
+ No need to look for where to buy equipment
+ No need to configure and build a farm
+ No need to watch it
+ Easy to Purchase
+ If the farm is in the apartment, there will be warna and noise. Cloud mining doesn’t have this problem
+ Everything works properly and does not freeze
+ You sleep peacefully
But as you know there is nothing ideal, there are minuses.
– You can not play games (that is, if you bought a powerful card that can be mined into it, you can also play with it, but not here)
– you can end up with equipment mining anytime, for cloud mining it does not work, since you buy power for a certain period, and your equipment can be sold.
As we see the pluses are more than minuses, but again the 2nd minus it is not always a minus, if mining is dead, believe, you will not sell your equipment, there will be a big surplus in the market.
In general, if you do not want to sweat with setting up, monitoring, buying and selecting components, servicing your farm, cloud mining is for you!
Many people do not understand how cloud mining works, it’s just that you buy power, that is, the hashtra of the algorithm that you have chosen today for the popular cloud mining algorithms: bitcoin (sha-256), Dash (x11), ethereum ETH (dagger hashimoto), zcash (equihash ), scrypt (dogecoin), ltc and others.
And now the main thing, reliable cloud mining how to start in 2018? First of all, we need to choose a website and a cloud-based mining service, which are very many.
Cloud mining instruction
First, register with hashflare. Go to hashflare and see.
Cloud mining registration on hashflare: we write an email address, choose your country.. Next put your password, repeat your password and date of birth, then confirm the mail, you will receive a letter. Are you registered? We hope the answer is positive
Cloud mining to buy
Good! Now we need to choose the algorithm which will be mined, in our case, cloud mining bitcoin (sha-256).
Next you need to buy power on hashflare. Let’s choose an algorithm (in our example is sha256). Next, select the speed slider. Below the slider, the total cost will be shown. And then click on “next” (the green button).
After you should choose a payment method. You can pay with bitcoin, your credit card, bank transfer and paayer. The most convenient is credit card (UP).
After paying for all hashflare mining, you choose two modes: payments or reinvest. Of course, you decide, but it is advisable to better reinvest 20% of the profits.
Many ask the question whether cloud mining is profitable, how much do they earn on cloud mining, and what is the earnings today?For example, if you buy a hash of ether such as 60mx / s, the money is the same if you buy two video cards,, block, motherboard, raiser and so on, but in cloud mining you do not pay for the light, do not tune, do not steam over heat and noise, and you can reinvest small amounts, which is very convenient, that’s the whole point of cloud mining. Now you know how to make money on hashflare. Let’s analyze a live example by buying sha256 (bitcoin)
In general the investment can be 1200 dollars, the income per day is 9.39. It turns out a payback of 4 months, 7 days. But you forgot the maintenance fee (0.0035 USD for 10 Gh / s). At this speed, it is $ 2.75 per day. That is, you get a net profit from cloud mining at a given rate of $ 6.64 per day, which is 6 months payback. It is really a great number. Stores do not pay off that much. But we would like to advise you to reinvest 20% of the monthly profit back, and the income will increase, and the contracts will be new. As a result, there will be a ladder, and mining in a year will decrease, but it will not end. Also, you should not forget, that the complexity of the network grows by 7% every month. But the rate also increases, and the rate is growing at a rapid pace (600% over the past year). So payback is obtained even less than half a year.
You can also mine and keep the bitcoins. And wait for the course to grow. As a result,your profit will increase.
Mining as business
Most likely, the cost of the cryptocurrency will continue to grow, despite the recent decline. This is due to the fact that its extraction has become much more difficult, we need the newest devices for mining. In addition, the digital currency becomes the reserve currency.
If your plans include mining bitcoin, the best solution is to start with cloud mining. Thanks to this method, continuous production of bitcoin is possible. Having dealt with the simplest way, the user will have the opportunity to switch to methods that are more complicated in their execution.
Also, having earned the initial capital of a digital currency with cloud mining, you will be able to invest in any kind of mining. The production of cryptocurrency in the classical way will soon cease to exist, as the price of specialized equipment is constantly growing, and the possibility of solving the blocks becomes more difficult. As a result, mining on a personal computer has no benefit.
Taking your first steps in obtaining a digital currency, you will understand the principle and will be able to extract a much larger amount of virtual money. In any case, you now know how to mine bitcoins at home!