Mining has recently become demanding regarding required computational power, but that does not mean you can’t mine now without investing heavily in expensive hardware. Numerous companies provide computing power for hire, which can be utilized to mine a range of cryptocurrencies they support. But this niche seems to have many scams, so you should be careful and choose only the most reliable options. This article explains how this mining works and lists the top 3 trusted platforms.
How it works
Cloud mining is a method of cryptocurrency mining that utilizes the computing power of remote servers to extract various types of crypto tokens. This way, you can mine without building expensive hardware setups made of ASICs or learning about the technologies behind the process. Moreover, this mining allows you to maximize your returns while lowering the associated risks. It’s also very scalable: you can increase or decrease investments depending on the situation in the market and your demands.
However, this mining method has some disadvantages. You don’t have direct access to the computing machines you’re using, and some platforms offering such mining services may be scams. Calculating your returns in advance is essential: high fees can lower your profits and make your investments unsuccessful. If you don’t know where to start, we’ve gathered the top 3 most reliable cloud mining services to consider.
Genesis Mining
Genesis Mining is a pretty old and reputable online service that allows you to mine various popular cryptocurrencies like Bitcoin, Litecoin, or Monero. It requires a minimum investment of $500, and you must pay $29 per mH/s as a fee. You can receive your rewards daily with no payout limits.
StormGain
This mining platform is an excellent option for novice crypto investors who don’t have much money. It does not require huge investments; the fee is 0.25% for all coins, including BTC. The service pays daily, and you can choose different payment options.
Bytebus
Bytebus is an advanced mining platform with exceptional 24/7 customer support and top-notch security features, making it a highly dependable option for mining operations. There is a slight limit on investments: you can start mining with just $10. The costs are comparatively inexpensive, and payments are issued daily. However, the platform supports only Bitcoin.
