Hello everyone,
I'm almost new to this world so please bear with me if I went of base here or even if I didn't make any sense
.
I've been looking into could mining services, in the beginning some of the websites seemed very attractive and got me really interested, but as time passes by I started to understand more and more, at this point I'm not sure if investing in Cloud mining service is even worth it !!
Two quick examples:
1- Hashflare
If i take BTC 1 year mining plan for 10GH/s I might end up with about $2.16 profit at the end of the year according to cryptocompare.com's calculator. That's even without calculating maintenance fees !
So it seems like a total loss.
2- NuVoo
They got a $200 open-ended mining plan for 1865.87GH/s. According to this on cryptocompare.com's calculator I might be able to come up with $402 worth of bitcoin a year. But then they included something called Energy daily fee of $0.00021 per GH. This basically means : (0.00021 * 1864.87) * 365 = around $142 to be deducted from my revenue/profit bringing it down to almost $260 a year.
I'm not sure this is worth the investment, any thoughts? feedback on the mentioned companies? other recommendations?
Cheers,
MysteriouS87
You already made some sample of your calculation and you already seen the result but still you're not yet sure if cloud mining is worth it to invest? haha. Even legit cloud mining companies have a hard time to make it a win situation between their company and the investors because cryptocurrency mining will not give you a stable profit, sometimes you will earn more and sometimes it is lower because of volatility of cryptocurrency. Don't be fool by the attractive website and huge profit promises because that is impossible. If you are in to investing in cryptocurrency, better to just buy a coin that you think will give you the most profit and hold it or if you are good at trading it can also be profitable.I'm almost new to this world so please bear with me if I went of base here or even if I didn't make any sense
.I've been looking into could mining services, in the beginning some of the websites seemed very attractive and got me really interested, but as time passes by I started to understand more and more, at this point I'm not sure if investing in Cloud mining service is even worth it !!
Two quick examples:
1- Hashflare
If i take BTC 1 year mining plan for 10GH/s I might end up with about $2.16 profit at the end of the year according to cryptocompare.com's calculator. That's even without calculating maintenance fees !
So it seems like a total loss.
2- NuVoo
They got a $200 open-ended mining plan for 1865.87GH/s. According to this on cryptocompare.com's calculator I might be able to come up with $402 worth of bitcoin a year. But then they included something called Energy daily fee of $0.00021 per GH. This basically means : (0.00021 * 1864.87) * 365 = around $142 to be deducted from my revenue/profit bringing it down to almost $260 a year.
I'm not sure this is worth the investment, any thoughts? feedback on the mentioned companies? other recommendations?
Cheers,
MysteriouS87