Hi guys , I'm fairly new , can you please tell me some cloud mining websites that are legit or at least you believe they will not run after 6 months with all the investments ?
I am not looking to get rich over night like 90 % of the newbies like me
, I am just looking for for a cloud mining site to make a small investment and to see how it goes , I am well aware that it can be months , even a year until I can break even on the ROI.
Have a nice day everyone!
I am not looking to get rich over night like 90 % of the newbies like me
, I am just looking for for a cloud mining site to make a small investment and to see how it goes , I am well aware that it can be months , even a year until I can break even on the ROI.Have a nice day everyone!
Ask yourself this:
1. What is one of the best miners available right now, what company makes that?
2. Does that company also offer cloud mining?
3. Check out the maintenance fees of the cloud miner, and compare to what the costs would be for you to buy hardware, ship it, install it, maintain it and pay the electric bill.
Answers here:
1. S9, Bitmain
2. Yes - Hashnest
3. It's at about 20% maintenance fee - try to beat that by ordering the same hardware and running it wherever
Think hard and evaluate every possible aspect of mining and finance etc etc. If you do that, there are some circumstances in which mining is a no brainer.
There are aspects you haven't thought about.
One is that mining is usually less profitable than buying coins directly, and even if it's by a few % more profitable somewhere, I don't think the risk is worth the profit.
If anything happens and you need money or move away from mining, selling coins would take you an hour tops and selling miners?
As far as cloud mining goes it usually freezes your money for a long time and in the end you'll get the same coins you would if you just bought them at a dip, like the one yesterday.
Risk is the biggest problem in mining whether it be cloud mining or running actual mining hardware in your garage. Yet people are enticed to mine because of the potential for profit.
You asked a question about the liquidity of a cloud mining investment - check out hashnest. You can buy or sell your "Giga Hashes per second" (GHs) instantly and withdraw your BTC.
Will they fly the coop and disappear like so many other enterprises? Who knows. It seems unlikely for as long as the S9 is profitable to manufacture and sell and run. Bitmain is probably the best company out there to be financing the design of the next ASIC and next miner - the S10? I mean, the way I see it, if they can spend 10's of millions of dollars on R&D and production, I don't think they would try to pull off any sort of scams. Any other company I would be suspicious of, I mean, I remember the days of "Fried Cat" T-shirts. But I trust Bitmain. Having said that, yes, anything can happen, it's true.