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

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

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

Real Mining Facilities

The provider can guarantee that your money will be paid back only if it actually owns hardware.

Convenience

Convenience

The service provides various additional options which help you to increase profits and enhance it for comfort and ease of use.

How Cloud Mining Works?
Step 1 : Registration
You need to create an account at the chosen cloud mining service and, after that, you can have access to your personal cabinet.
Step 2 : Purchasing hashing power
You buy certain amount of hashing power for the conventional currencies. The hashing power you bought starts to benefit you immediately.
Step 3 : Storing
Every day, cryptocurrency which you have mined, is charged on your account. You can reinvest it by buying additional hashing power or, simply, accumulate.
Step 4 : Money Withdrawal
When a certain sum of money is accumulated on your account, you can withdraw it to your personal crypto-wallet.
Step 5 : Currency exchange
You can change cryptocurrency for real money with the help of one of stock exchanges.

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
Hashing24 is one of the oldest companies on the market. It has a rather inconvenient interface, but this does not prevent it from providing a quality service. They are focused on working with clients who invest small amounts of money.
Hashing24
Low Cost

Cost

At the moment: ВТС - USD 94 for 1 TH/s.

Provider Reliability

Provider Reliability

Service has been working for a long time and is an official BitFury partner.

Real Mining Facilities

Real Mining facilities

Service has real data-centers in Ireland.

Convenience

Convenience

User-friendly interface.

HashShiny 2.0 was founded in 2017 and was able to survive the drop in prices when most of the other companies went bankrupt. It has 1.5% of the global mining power market, making it the largest datacenter in the world. Now there is a 6% discount, coupon code: NEW2021.
HashShiny 2.0
Low Cost

Cost

At the moment: ВТС - USD 1.2 for 10 GH/s

Provider Reliability

Provider Reliability

The service belongs to a well-known and large company, has a huge number of users.

Real Mining Facilities

Real Mining facilities

The service has real data centers with 15,000 state-of-the-art ASICs in Sichuan (China).

Convenience

Convenience

The service has its own reinvestment function.

IQMining has been operating since 2016 and was founded by a team of scientists from around the world, hence the name - IQ. At the moment, they are actively promoting and offering many quite profitable promotions.
IQMining
Low Cost

Cost

At the moment: ВТС - USD 95 for 1 TH/s

Provider Reliability

Provider Reliability

They have offices in the UK and Russia.

Real Mining Facilities

Real Mining facilities

Also in Canada, Iceland, Georgia, Algeria and China.

Convenience

Convenience

Very user-friendly interface.

CryptoUniverse Service is a partner of the world's largest exchange, Binance. Has been created in 2017 on the basis of one of the most powerful data centers in Europe. Promotes absolute transparency in work.
CryptoUniverse
Low Cost

Cost

At the moment: ВТС - USD 60 for 1 TH/s

Provider Reliability

Provider Reliability

The site contains all legal documents.

Real Mining Facilities

Real Mining facilities

Two 42 MW centers in Europe.

Convenience

Convenience

Extremely convenient integration with the exchange.

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
for 10 GH/s

USD 0.0015
for 10 GH/s

42 TH/s

0.16 mВТС

USD 14730

USD 5000

USD 69
for 1 TH/s

USD 0.28
for 1 TH/s

72 TH/s

0.12 mВТС

USD 12620

USD 5000

USD 95
for 1 TH/s

USD 0.03
for 1 TH/s

53 TG/s

0.11 mВТС

USD 9952

USD 5000

USD 60
for 1 TH/s

4,6%
Service fee

83 TG/s

0.1 mВТС

USD 9162


*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.

Cloud Mining Services Reviews
These cloud mining services reviews were taken from open, reliable sources.
Personally, I know this service since October 2019. Since then, I’ve had a long and productive relationship with this provider. All their promises were kept, and the project started bringing me permanent passive income. It really works.
HashShiny 2.0
Freedman.club
HashShiny 2.0 — is a reliable service. People invest in it without worry. It has its own data-center with hardware. You can even see a photo of this data-center. This project has been working for years and it’s considered to be one of the most reliable. You can see it by statistics of site visits and search engines queries.
HashShiny 2.0
2investor.ru
Hashing powers are given for an unlimited time. Guys from Hashflare predict that, in all circumstances, if the ВТС to dollar rate stays the same, the service will bring 200% income, i.e. it will completely cover hashrate expenses, bring 100%, and you can continue using hashrate if mining difficulty won’t increase too much.
HashShiny 2.0
Geektimes.ru
I can firmly say that is one of a handful of mining providers which always pays out and without any problems. By the way, I started mining at this resource when ВТС cost USD 8000. All my investments were paid off with good interest and I still have good coin of it!
Bitluck
forum.bits.media
FAQ
  • General
  • Financial
  • Technical
What is profit for the service?
One of the most frequently asked questions is “What is the profit for the service to give hashing powers if the company can do mining itself?” The thing is that the period of investment return is about 8-12 months. And, by selling a part of their hashing capacities, companies can significantly reduce this period and constantly buy new hashing power capacities.
Can such services be trusted?
Out of hundreds of cloud mining services, we have chosen four that look trustworthy, firstly, because they have their own data-centers with mining equipment.
Why cloud mining is better than original mining?
If you buy original miners, you should be ready to solve the following problems:
  1. Installation. Miners are quite noisy, and if you install them in accommodation, it can bring many inconveniences.
  2. Cooling. Due to 24 hour work, miners need good cooling, which can significantly prolong their service period.
  3. 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.
  4. Service. Miners can periodically have system jam, so they must be configured to maximum operating speed and you must make time for them.
  5. 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.
How to get your money?
You can withdraw the received profit to your cryptocurrency wallet, and then change them to real currency.
What equipment do these services use?
Often they use special devices for mining , which are called ASIC. In addition, for Altcoin mining, people usually install miners based on video cards.