Cloud Mining review

Hashflare review

Hashflare is now also one of the big cloud mining providers on the market and has been around for several years - ...

9
2 Genesis Mining review

Genesis Mining review

In this Genesis Mining review we describe our Genesis Mining experiences. The company, founded in 2013, has long been ...

8.8

Our Cloud Mining Review FAQ

What is Cloud Mining?

You want to benefit from the hype surrounding crypto currencies, but do not feel like investing directly in one? You lack the necessary IT know-how or the expensive hardware to mine Bitcoin and Co.? Then the topic of cloud mining might be interesting for you. In cloud mining, you hire the expensive hashing power from a provider to create crypto currencies like Bitcoin, Ethereum or others. Creating using various algorithms referred to in the network as "mining" or in the German linguistic usage also like "digging." Especially in the European area, it is currently hardly worthwhile to mine themselves. The cost of graphics cards, CPU and especially for power, are just too high. Most cloud mining companies are located in countries where all of these costs can be kept to a minimum. The biggest benefit of cloud mining is undoubtedly that you do not need any technical knowledge or hardware besides your Bitcoin wallet. The risk of a hardware mis purchase is also eliminated. For a part of the profit from the provider will be retained. Of course, we also took the conditions into account in our test. Since there are some black sheep in the area of ​​providers, we have listed here only reputable providers. The most popular providers are currently Hashflare, Genesis Mining and Minergate.

Cloud Mining: Pros & Cons

Of course there are good reasons for and against cloud mining. These should be considered individually for you, maybe with the help of our Cloud Mining Review. Of course, there are risks with every investment, but the opportunities in terms of cryptocurrencies are also enormously high. The development of the Bitcoin price shows the potential.

PROS:
  • No expensive hardware needed
  • Any repair costs do not have to be taken over
  • Electricity costs do not apply
  • A quieter home, fans of CPU and GPU can be quite loud
  • Good return opportunity in the area of cryptocurrencies
  • No  IT skills necessary
  • Time savings for setup and maintenance
  • Easy entry into the world of Bitcoin, Ethreum, Monero and Co.
CONS:
  • Responsibility lies completely with the providers
  • Slightly lower profits, as providers must of course also earn
  • Loss of control and depending on the provider no complete transparency

Cloud Mining Review: What has been tested?

From a user's point of view, our research focused on cloud mining. The factors for our ranking of all cloud mining providers are very diverse. Of course, the price / performance ratio plays a major role, but we were also interested in factors such as the support or the user-friendliness of the website.