If you have ever looked into mining Bitcoin, getting started can be confusing to say the least. Purchasing mining hardware, miner software setup and configuration, as well as calculating electricity costs can turn some away from Bitcoin mining. Progress in technology has offered a great solution called “Cloud Mining” that makes Bitcoin mining as simple as making a purchase of a “mining contract” from a cloud mining company. Cloud mining allows you to start mining Bitcoin by purchasing hash rates and receiving daily payouts of Bitcoin, Ethereum, Litecoin, Dash, and other top cryptocurrencies using cloud computing.
How Cloud Mining Works
First off, if you are not familiar with the Bitcoin mining process, please learn more about it at http://www.coindesk.com/information/how-bitcoin-mining-works/.
Cloud mining allows you to purchase hashrate on systems maintained by 3rd party companies using their hardware and electricity using mining contracts. These contracts can vary in length and price depending on many factors. After purchasing a mining contract from a 3rd party, purchased hashrate is used to mine the currency of your choice, allowing you to mine Bitcoin 24 hours a day. You can then track your daily Bitcoin payouts with fees and withdraw currency to a Bitcoin wallet.
It really is that simple.
Cloud Mining Companies
There are many Bitcoin cloud mining companies offering services on the internet. Depending on your budget, purchasing currency, and desired level of security, you can find the cloud mining company that is right for your needs. The cloud mining companies listed below are 2 used by thousands of customers and have been tested by the staff at Coinformant.com.
Hashflare is a great way to start cloud mining Bitcoin for cheap. With lifetime contracts as low as $1.20 USD, Hashflare cloud mining is the easiest and cheapest way to start mining Bitcoin and receive daily payouts. Hashflare also offers cloud mining for Ethereum and Dash as well as a reinvest option to grow your hash rate on auto pilot. Purchasing mining contracts can be done with Bitcoin, credit card, money transfer, bank wire and payoneer.
Genesis is one of the leading cloud mining companies available today. Genesis Mining offers lifetime Bitcoin Mining with contracts starting at $30.00 USD. Cryptocurrency types available to cloud mine include: Bitcoin, Zcash, Litecoin, Dash, Ethereum, and Monero. Contracts are offered in different lengths depending on the choice of currency the customer would like to mine. Another popular option is the ability to split hash power on different cryptocurrencies rather than mine just one type of coin.
Coinformant readers get a 3% discount on any mining contract purchased, just use the code MFj7bN at checkout