How to choose a cloud mining provider?
Recently cloud mining is getting more and more popular. Alternative to buying mining farms and solving numerous problems concerning their installation, electricity supply and service, is cloud mining. But, there are not so many services that really work, pay your money without problems and delays.
Editorial staff of Computer magazine has compared TOP 4 of best cloud providers and is ready to share the results of their work.
What are requirements to the perfect service? Let’s have a look:
Low Cost
The price you pay for hash power is very important as it has a strong influence on speed of investment return.
Provider Reliability
The most important requirement. There exist numerous fraud companies which take people’s money and then disappear without paying them back.
Real Mining Facilities
The provider can guarantee that your money will be paid back only if it actually owns hardware.
Convenience
The service provides various additional options which help you to increase profits and enhance it for comfort and ease of use.
TOP 4 Best Cloud Mining Providers
The editors of Computer magazine have compared the TOP 4 best cloud mining services and are ready to share the results.
- Hashing24
- HashShiny 2.0
- IQMining
- CryptoUniverse
Cost
At the moment: ВТС - USD 1.2 for 10 GH/s
Provider Reliability
The service belongs to a well-known and large company, has a huge number of users.
Real Mining facilities
The service has real data centers with 15,000 state-of-the-art ASICs in Sichuan (China).
Convenience
The service has its own reinvestment function.
Profitability assessment
To estimate profit, which cloud mining investment can give you, let’s calculate how much one can earn per 1 year with the initial investment of USD 5000. We will measure profitability for the most popular: ВТС.
ВТС
Investment
|
Cost of Hashpower
|
Service Charges
|
Purchased power
|
Profit per day*
|
Profit per year*
|
|
---|---|---|---|---|---|---|
USD 5000 |
USD 1.2 |
USD 0.0015 |
42 TH/s |
0.16 mВТС |
||
USD 5000 |
USD 69 |
USD 0.28 |
72 TH/s |
0.12 mВТС |
||
USD 5000 |
USD 95 |
USD 0.03 |
53 TG/s |
0.11 mВТС |
||
USD 5000 |
USD 60 |
4,6% |
83 TG/s |
0.1 mВТС |
*The approximate calculation of income as of July 2021 is indicated, excluding the increase in complexity.
**The profit is indicated based on the forecast of the ВТС exchange rate for the winter of 2022.
- General
- Financial
- Technical
- Installation. Miners are quite noisy, and if you install them in accommodation, it can bring many inconveniences.
- Cooling. Due to 24 hour work, miners need good cooling, which can significantly prolong their service period.
- Electricity supply. One mining farm has power consumption of about 1,4 kWh, which demands high quality of wires in the placement. If you install more than three miners, you have to create a separate electrical line, because standard housing lines are not designed for electrical power more than 4-6 kW.
- Service. Miners can periodically have system jam, so they must be configured to maximum operating speed and you must make time for them.
- Breakage. Most of the mining farms are not covered by the guarantee, therefore, the breakdown of the farm may lead to collapse.
Cloud mining deprives you of all these inconveniences.