Is it the right time to invest in (cloud) mining?
First of all I'd like to cite myself:
"One very important "currency" in cryptocurrencies is trust. Hashflare and Genesis mining (with this activation code you get 3% off: Qg8hmv) are two by many people recommended and trusted mining facilities I will definitely invest when BTC has finished the next bull run (maybe at 22000 or 25000$)."
From: https://steemit.com/crypto/@mathsinnature/bitconnect-friend-or-foe
In this article I will focus more on mining and answer the question shortly, if it is the right investment now. I once saw mining as just not worth considering it because of the technical equipment needed. Cloud mining sounded very interesting to me, but I wanted to invest directly into cryptocurrencies first.
After a few months in the crypto-universe I invested in mining of BTC paying with BTC as it was higher than now. That was a great timing and that's why I do not recommend to invest into cryptomining with cryptocurrencies now due to the relatively low prices.
In this moment it is certainly better to invest in the coin you want to have directly again due to the low prices.
If you are planing to invest with fiat money investing in cloud mining is also okay at the moment. Mining is in comparison to investing in one special coin at an exchange a long term investment. If the currency chooses to go down 50% you cannot leave the coin but you are forced to stay in your mining contract. But if you have some money left and you do not trust banks anymore (as you should) and you have a coin in mind you can invest long term by mining Monero (at Genesis) or Zcash, Ethereum and BTC (at Hashflare). It isn't a good idea anyway to leave currencies when they are down. (I just invested some money in Reddcoin yesterday when it was 20% down, so i will wait now till it rises again.) So investing long-term is no bad idea. But do not buy mining power with cryptos (at the moment) because they are too low ate the moment.
Zcash, Monero and Verge are very interesting coins with great potential cuase of their secrecy structure., so why not mining them with a smaller amount than you have to invest in BTC mining.
To conclude:
At the moment it is a good time to invest with fiat money into cryptocurrencies directly. It is also a good timing to buy some mining power with fiat money. It is not the time to buy something with cryptocurrencies at all. Long term investors can use the trusted miners but also invest in some interesting ICOs and buy cheap Ethereum directly:
https://steemit.com/money/@mathsinnature/ico-christmas-investing-tip
Please resteem and upvote this post if you want to spread the ideas and strenghen the crypto community! If you are (once with higher prices) thinking about registering, please use my referrals to support my work! Thank you!
Hashflare: https://hashflare.io/r/739510BF
Genesis mining: activation code you get 3% off: Qg8hmv
So I have investing in Hashflare and Hashing24. Comparing trading with mining no doubt that if you know what you need to do, have knowledge for... The return in trading is more quickly than mining. The same way if you know what crypto is better to buy for a long term is much confortable and profitable than mining.
But the mining in a long term you have your investment back and indeed that you will have a stable profile considering coins as BTC, ethereum, monero and even Steem o SDB. I think that's is not a simple decision.
I just agree with "dont buy crypto using BTC" at moment.
Great post! 😎
I tried cloud mining with Nicehash and luckily didn't lose too much when they were hacked. Found it difficult to make a profit. I think I would rather invest in the equipment and do my own mining, at least my coins would be safe and it seems better value for money.
Totally agree
Why would I pay somebody else to do work I can do.
Unless I really can't mine for some reason?
But personally, living in China, and paying about 4c/KwH and being able to buy GPUs for 200 dollars cheaper than Amazon, it's a no brainer to get into mining LOL
Heck, if I get a decent set-up, I might start offering some contracts for crypto xD
I can just tell you that I invested almos 0.06 BTC into Hashflare (of course with a good BTC Price 11 days ago, which makes a difference in how much Hashpower you can buy) and I have now almost 0.005 BTC on this plattform.
So after 132 days I am even and if you think about the contract going for a year and calculate with fees and invested time I will double the amount in BTC. If this does not crash, everything is okay at using Hashflare...
i will multiply this answer so that everyone sees it because there are some similar comments.
I have some invested in Hashflare. My first investment turned scam on me so I was hesitant to put anything else into cloudmining. I just needed to do my research first.
Waiting for higher BTC prices to reinvest there.
Thanks for your post!
Happy New Year!!!
JGV
But your first investment has not been at Hashflare, or?
Exactly buying something with BTC at the moment is not a good idea...
No, my first was in November with a site called Sierra Hash. I just had no clue about anything at that time. I have a much better sense of things now and I'm extremely careful.
I've been pleased with Hashflare.
JGV
ah ok;
...me too...I will change to some ETH and Zcash mining as soon as BTC is higher...
Cloud mining is very expensive for low returns. It is not worth it. You could HODL that much fiat in BTC and see greater returns. It’s not worthwhile
I can just tell you that I invested almos 0.06 BTC into Hashflare (of course with a good BTC Price 11 days ago, which makes a difference in how much Hashpower you can buy) and I have now almost 0.005 BTC on this plattform.
So after 132 days I am even and if you think about the contract going for a year and calculate with fees and invested time I will double the amount in BTC. If this does not crash, everything is okay at using Hashflare...
i will multiply this answer so that everyone sees it because there are some similar comments.
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