Have you heard that Binance have cloud mining service? They are selling hash rate, and Binance is a trustworthy exchange.
There are two more Nicehash and Miningrigrentals are selling the same service and they are still around for years.
Well, I think there are many misunderstandings about the word cloud mining, because I feel that people also have the same experience as me when seeing cloud mining sites that are mostly scams. I think there needs to be a determination regarding the word, and regarding the cloud mining that you said on Binance or miningrigrental I think it's better to say it as "Miner Rental/ Miner Rental" or if we need still to use the word "Cloud Mining" then we should add the word "Real" and become "Real Cloud Mining". So the point is that Real Cloud Mining is Mining Rental that provides real hashrate with real hardware to use. And I got these words from miningrigrentals itself and they also emphasize the word "Real".
https://i.ibb.co.com/b5SgbswM/realllllll.pngSource :
MiningrigrentalsTo confirm, Mining Rig Rentals is legit -- have used them a ton while building a stratum proxy server.
One common thing with the cloud mining sites is their "profit calculator" makes no sense and does not clearly show the hashprice you are paying -- this is not like hashrate marketplaces, like NiceHash or MiningRigRentals or Rigly, where you see the hashprice posted front and center, and you can easily calculate what it is costing you to mine.
There's no free lunches...if someone is selling you their hashrate, why do this rather than mine for themselves?
Btw the same objections to cloud mining also apply to hosted mining. You may technically own the miner, but ask yourself ... what is the hosting companies incentive not to rug pull you once you've paid your $$$ ?
