Post
Topic
Board Beginners & Help
Re: Cloud Mining Explained
by
Fenya96
on 06/08/2018, 15:46:05 UTC
Do not invest in cloud mining! The only legit provider is Genesis mining, whose contracts MIGHT get you ROI (Return of Investment). It could be quite appealing to get a new stream of passive income, but on the other hand probably you would be better buying BTC and hodling it. There are so many thing that could go wrong with your contracts: the company can scam you (huge percentage of cloud mining services are obvious scams), with the constant increase of the mining difficulty your contracts can be easily terminated if unprofitable for x days (this was the case with Hashflare) and if not terminated, there is still a chance that your mining earnings will be way less than your original investment was.