Quote from: Fenya96 on August 06, 2018, 03:46:05 PM

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.

I completely agree with you that there is a lot of scam and fraud in cloud mining.
This article is descriptive in nature and should not be treated as an investment advice.
We do not encourage engaging in cloud mining.
The article aims to give a simple explanation of what cloud mining is.