Cloudmining Proves to Be One of the Safest, Easiest and Low Cost Ways to Get into CryptocurrenicessteemCreated with Sketch.

in #aceh6 years ago (edited)

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So I did some experimenting after reading countless articles and reviews and forums, with many people divided on cryptocurrencies and the way to obtain them. Seemed to be the consensus were against the "slow process" of mining and urged just to buy and hold the currencies and pray for them to not crash and to maintain their staggering growth.

Anyone with any investing experience knew that the mega-growth was unsustainable, and due to correct before continued growth was to resume. With the price Bitcoin recessing, we saw an influx of emotional trading and the cryptomarkets came tumbling down. Servers and exchanges were overloaded with panicked traders with exchange and transfer fees exploding in effort to slow down the system and stabilize the crypto market...it was chaos for a bit.

People who bought in during the $18,500 - $19,500 peak are left holding the bag, with an option to hold long-term, average down or sell for loss, all options that don't appeal to many that are impatient or new with the markets.

However, those that entered the market using cloud-mining services, with low-cost contracts or no cost options in which users sell the computing capacity of their computers, tablets, phones or other devices, continue to accumulate these currencies at a profitable rate.

For example, users can register at Minergate (https://minergate.com/a/2ea45d370ff5f6c0e5087490) for free, download the mining software and start earning cryptocurrencies of their choice immediately. An added bonus is that the miner has "smart" technology, and will automatically choose the most profitable one to mine based on data reported from the exchanges. Another huge option this site has is the ability to "dual mine", meaning a user can mine two certain cryptocurrenices together with the speed that they would be at just mining one.

If a user ever wanted to "beef" up their computing power, they can buy computing power "hashrate" with their earnings or transfer money to Minergate, in which the user is granted a lifetime contract renting out the computing power from the Minergate mining hardware farm. This offers a huge advantage to the user, as they get advanced mining hardware ability with large initial investment, no programming, no hassle, and pays a small daily fee for maintenance and power.

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Another option is Hashflare (https://hashflare.io/r/65A7C804), this has been the most profitable for me by far, with the only downside that the contracts are for one-year, and that you cannot mine with your own hardware. Hashflare owns and operate huge mining farms in Europe and "rents" out the capacity of their equipment to users for an upfront fee plus maintenance and energy. However, the current Return-On-Investment (ROI)with the Bitcoin (SHA-256) contracts are excellent, with break-even in around 2.5 months. You can start a bitcoin mining contract for as little as $2.20.

I have been personally using both services for the past few weeks and have been extremely impressed with the returns, getting paid every single day as the crypto markets continue their craziness.

Be sure to follow me as I post my earnings after 1 month (should be roughly $300 USD) using the services listed here, with step by step guides and pictures of my accounts to verify claims

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So much knowledge. I look forward to future postings

I really appreciate the comment. Feel free to upvote and resteem, I will be pushing content out as quickly as my schedule allows.

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how's your electricity cost for running minergate or your mining rig? for hashflare, isn't it more profitable for them to keep what they mine instead of renting it out to you for a lil fee? cause shouldn't they make more money from mining rather than renting out the hash power? why is it more profitable to them to rent it out to you?

With Minergate, I am running basic hardware. Couple of laptops, my phone and my tablet. The power cost for these units are extremely low, even though my median cost per kw/h is around $0.15. I am reinvesting my revenue generated in buying hash power within the cloud that costs me a fraction of my power and there is no upfront cost.

Hashflare revenue has also been reinvested, and I am currently "renting" about 3 TH/s, similar hardware runs around $1,000 to purchase, many times without the PSU (Power Supply Unit). This is before the substantial cost of power, selecting mining pools, programming and maintenance.

With decent startup, around $1,000 or so, a Ether mining rig can be assembled and ROI seen within a year, but many beginners just don't have the desire, patience or knowledge to do that. I am currently launching my own 4 GPU mining rig this week after about a month of research and gathering hardware that continues to be inflated due to the "mining craze".

nice. please keep us posted on that mining rig. so there's minergate cloud mining and hashflare cloud mining. which one do you recommend. i'm just looking for simple service, affordable, and positive ROI

hey jacob do you have telegram or something i can connect with you to ask about your cloud mining?

You can chat with me through the steemitchat I believe, or connect with me on facebook

I tried to find you on steemit chat, no luck. :(

cool i just joined steemitchat. do we get steem on this?

No, I o not believe so. However, it is a tool for direct communication and networking.

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