Bitcoin price continues to soar. At the beginning of November 2020, the price of one Bitcoin reached IDR 168.5 million. Meanwhile, on April 7, 2021, the price has touched the figure of IDR 815.1 million per Bitcoin.
No wonder many people are starting to look at this electronic currency as an investment. However, to be able to get it one way is by mining. You can use several cloud mining sites to make Bitcoin mining easier.
There are many choices of Bitcoin mining sites that you can try. However, before finding out more, it’s a good idea to first understand what it means and how it works.
What is Cloud Mining
Cloud mining is a Bitcoin mining process using remote data centers. This allows users to mine Bitcoin or cryptocurrencies without having to buy hardware.
Simply put, you buy CPU power from a data center that has complete equipment for mining activities or mining Bitcoin.
In other words, this method allows you to access the mining space without the need for large electricity costs.
However, the trade-off is that you need to invest some money into the complete mining operation required for the mining process to be successful.
The advantage of using cloud mining is that you don’t have to have in-depth knowledge of mining hardware and don’t need to buy expensive computer equipment.
It’s enough to just rent hash power, you don’t need to deal directly with heat and noise in the mining process.
However, even though it is fairly economical, mining Bitcoin using this method has a high risk. For example, to mine Bitcoin on a cloud mining site, you have to pay upfront or in other terms a down payment.
If the price is going down, chances are you will be trapped in a losing mining process. You will make a profit if the price of Bitcoin goes up again.
Best and Trusted Cloud Mining Sites
The process of mining Bitcoin using cloud mining can be done at the following choices of the best sites.
This site is provided directly by Bitcoin.com which aims to provide the most competitive Bitcoin mining services.
In their ad, they provide the highest Pay Per Share (PPS) globally with a block reward of 98%.
It’s quite easy to use and it doesn’t take long to start mining. There are two alternative options for mining, namely in Bitcoin Cash (BCH) or Bitcoin Core (BTC). You can choose whichever is considered the most profitable.
You can also monitor mining activities through Android and iOS mobile applications. That way you can track your usage and account value whenever you want.
HashFlare is a cloud mining service created by specialists from HashCoins in 2015. Interestingly, in just a short time, HashFlare has been able to become one of the largest providers of computing power for mining cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and other cryptocurrencies.
Founded by Bitmain in 2013, Hashnet was one of the first companies to provide Bitcoin mining services using cloud mining. This site is definitely the best in its class and trusted with more than 400,000 users worldwide.
The advantage of Hashnet is the ability to host a number of miner brands, such as Whatsminer M21S, M20S, Antiminer S17, S15, Z11, and others. In Hashnet you can mine several cryptocurrencies, from Bitcoin, Litecoin, Dash, to Zcash.
In addition, this cloud mining contract on Hashnet is valid for life, as long as the market is still there. For users who want to mine for the long term of course this is very profitable. You can imagine how many coins can be collected during a long mining period. Definitely endless!
This Hashing24 site is created by professionals for individuals who want to be directly involved in cryptocurrency mining.
They believe that everyone should benefit from mining and be able to have access to the latest technology and industry data centers at scale from smartphones and laptops.
This site provides many services related to cryptocurrency. The contract duration offered to mine Bitcoin is a minimum of 1 year. But you can provide initial funds with an amount that is not too large.
Bitcoin Train offers an average generated profitability of 0.5%. Another advantage is that this site promises you to use your mining equipment for as long as you want.
IQ Mining is a mining provider site with trusted cloud mining which is proven by always being able to provide the best service for its clients.
You don’t need to be an expert in mining crypto assets on this site. Just by following a few simple verification procedures, you can start earning your first crypto coins.
Another plus is that the user’s income is protected by a special smart contract that allows predicting prices. The goal is to capacitate costs in the future.
In addition to the names above, there are still several cloud mining service sites. However, Bitcoin mining is not the only way to get crypto assets.
You can also use cryptocurrency trading platforms to buy various cryptocurrencies. This alternative is arguably the easiest way for novice investors by downloading the application on their mobile phones.