Cloud mining of Bitcoin, Etherium and other coins is one of the most profitable sources of passive income. Let’s choose the most reliable and profitable platform for cloud mining, based on the opinion of our analysts.
As we know, many cryptocurrencies are based on a decentralized mechanism whereby the system can work autonomously without the involvement of a single master authority. Whereas the traditional financial sphere is run by banks and state governments, in the case of cryptocurrencies, the role is played by miners.They add new transactions to the blockchain and are rewarded in the form of coins per block mined and commissions.
It is the reward that motivates many people to get involved in cryptocurrency mining. However, this process is not as easy as it seems. For example, Bitcoin mining requires a lot of expensive equipment and a suitable room with a low electricity tariff. There is an alternative option – to use the services of cloud mining providers and rent the actual power on other people’s (cloud) servers. This is what we are going to talk about. Our short list today includes the following services:
1. Hashmart – 9.5 points
Hashmart operates on the principle of a capacity provider, that is, it provides customers with the opportunity to rent mining capacity on the company’s servers by buying a certain amount of hashrate in the form of contracts. The contracts can be paid for both via Bitcoin and traditional VISA, Mastercard and SEPA payment systems.For the readers of our magazine, Hashmart offers a 5% discount when using the promo code TIME5 or when clicking on this link.
The computing power of the provider’s equipment as of November 2021 reached a record 182.5 petahesh per second. Hashmart ASIC miners are located in a favorable geographical region: the equipment is located in Siberia, where the cold climate allows to reduce the cost of additional cooling. In addition, Hashmart has a good reputation on the market and a sufficient amount of positive feedback, since the company itself was founded six years ago and has all the necessary licenses for cloud-based cryptocurrency mining..
Other advantages of the cloud mining with Hashmart are:
- No additional commissions for buying contracts, withdrawing cryptocurrency, or registering an account;
- No upper limit on withdrawal of funds for clients;
- Experienced maintenance staff, thanks to which technical problems with the equipment are excluded;
- Daily profit accrual on purchased mining contract to the account;
- Full legality of operation;
- Prompt support service on the website, via email and Telegram.
More than a thousand miners all over the world have already appreciated the advantages of Hashmart. Until recently, the platform had only one disadvantage – clients could only buy long-term Bitcoin mining contracts. In August 2021, Hashmart added to its service the possibility of cloud mining of Ethereum and made it possible to conduct convenient reinvestment of users’ funds. It is possible to predict the income from cloud mining using a handy calculator on the website hashmart.io.
It is possible to earn on the Hashmart platform without any initial investment. The company has its own affiliate program: the provider’s clients can invite their friends to participate in mining Bitcoin or Ethereum, and then receive 5 percent of all their purchases in the form of power to their account.
Visit website: Hashmart.io
2. HashShiny – 9.1 points
HashShiny gives you an opportunity to invest in cloud mining by purchasing contracts for many cryptocurrencies, including BTC, ETH, DASH, Zcash and many others. It constantly pleases its users with all sorts of discounts, bonuses and cashback and has an attractive referral program of 10% commission.
The presence of its own mobile app allows for convenient management of accumulated funds, and TrustPilot’s reviews connected to the service do not allow you to doubt the reality and timeliness of the payments. There is also a test period of 5 days of cloud mining with free hashrate and free accruals.
However, although HashShiny has its own online support service, it works only in English, Russian and Chinese. It is not possible to go to the social networks of the service directly from the site. Also, the yield calculator is simplified so much that it allows only to find out the actual yield in cryptocurrency and US dollars as of today, leaving “behind the fields” a huge number of “BUTs” that interest the most meticulous investors. Nevertheless, cloud multimining from HashShiny looks fresh, trendy and convincing.
3. ECOS – 8.9 points
ECOS supports only cloud-based bitcoin mining, and allows you to predict the yield on a very affordable mining calculator. It is important that the company does not try to disguise unforeseen costs, but writes explicitly that the mining calculator does not take into account the contract maintenance fee. At the same time there is an opportunity to understand how much you can earn from this amount with direct purchase of bitcoin, and how much with cloud mining. There are special conditions for big investors (5000$ and more). There is also a mobile application ECOS.
The service also gains credibility due to its extensive third-party functionality (built-in wallet, exchanger, investment pools, cryptocurrency and traditional deposits), 24/7 support service, and the presence of a huge number of good reviews (possibly inflated). Payouts are regular, feedback on both negative and positive is quick and constructive. The company has a license in Armenia and a real ECOS office.
4. Genesis Mining – 8.3 points
Genesis Mining has a clear interface, so even a newbie in the world of cryptocurrencies will be able to figure out how to buy processing power from this service. It is possible to buy both a personalized contract with a specified amount of hashrate, and contracts with a fixed amount of processing power.
The site is multi-lingual, and the interface is pleasant and attractive. The user-friendly, multi-range navigation, and regularly updated news feed show that the project is being watched. However, the unwillingness to provide a large stock of capacity (sold-out capacity, if we believe the statements from the social networks, came in January 2021), the lack of online support and relatively high prices due to the use of expensive electricity and maintenance (servers are located in Iceland, after all) seriously reduces the ratings of Genesis Mining. However, after the resumption of contract sales, this provider may once again be among our top three most in-demand and reliable providers.
5. Hashnest – 6.1 points
This provider was launched in 2014 by Bitmain, a mining equipment manufacturer in China. The company is still functioning and has provided all the proof that it really has cryptocurrency mining equipment. It has a Hashnest service and its own mobile app.
However, Hashnest provides an opportunity to rent separate units of equipment for BTC and ETH mining with a fixed capacity and make an advance payment for electricity, which is not suitable for all users. Also, the platform has one disappointing feature – if the cost of servicing the asics for 10 consecutive days exceeds the amount of payments to the user, his contract for cloud mining will be automatically terminated.
At the moment, the platform has not sold capacity for more than a month, and the format of communication with the support team has shifted from the online format to the creation of tickets, indicating possible difficulties in the company. This may be due to the recent events with the ban on any kind of mining in China.
6. CryptoUniverse – 5.4 points
Cryptouniverse does not have a very long history, its farms started on February 14, 2018. There are 16 plans to choose from, and payment in BTC is encouraged by a nice bonus in the form of cashback of 5%. The site has a nice design, many language versions, so understanding the purchase and selection of the right contract here is quite easy.
However, the page does not have complete information about the company’s contacts. There is no phone number, you can contact the creators only by e-mail or feedback form. Cryptouniverse is poorly represented in social networks. The company gives little informational content about its equipment, so investing in it can be extremely risky.
At the moment all of the BTC and LTC mining capacity (yes, Cryptouniverse allows you to mine LightCoin as well) is sold. However, according to a statement in the company’s social networks, now there is a dialogue with several capacity providers to increase the total capacity of the service.
7. Hashing24 – 5.3 points
The Hashing24 team was engaged in cryptocurrency mining back in 2012, but the service itself only appeared four years later, in 2016, and the noname license in Ireland could only be issued in 2017. Hashing24 does not have its own equipment for mining cryptocurrencies. Instead, the platform resells the capacity of the well-known provider BitFury in Canada, Georgia, Norway and Iceland.
Users are charged a daily fee of $0.00033 per gigahesh per second to service their mining contracts. According to reviews, the intermediary services from Hashing24 have been less and less popular these days. There are questions not only about the legal side of the law, but also about unstable commissions, the impossibility of refunds and contracts in the absence of auto-payment for power, and the lack of “live” support even on the phone number listed.
8. Hashgains – 4.2 points
On the company’s website you can find information about a large professional team, as well as appreciate photos from the data center. Hashgains, which passed the ICO stage (apparently, not very successful), offers many cloud mining contracts for different coins today, but most of them, judging by the feedback, are not available or are launched with a very long delay. The only really working service is its own built-in calculator for calculating the potential profit after purchasing the mining contracts. That’s not much consolation, you know.
Reviews of the Hashgains service are quite contradictory. Some customers (usually from India) praise the high reputation of the platform in the Telegram channel, while others talk about the disgusting work of technical support. And this is a minus, because help with the contract for cloud mining must be provided in a very short time. Finally, the very fact of the unsuccessful ICO and a huge number of negative reviews on the work with the service (high bureaucratization of not only the withdrawal process, but even the process of entering funds to purchase capacity) makes you think about the advisability of investing in the project, despite the rather low entry threshold.
9. Shamining – 3.7 points
Despite the lively tales of UK offices, online support, payment guarantees and a huge number of enthusiastic reviews, we put Shamining only in 9th place in the ranking.
Behind the beautiful 37% bonus, promises of fast payouts and high yield there is the pain of real users who have not been able to wait for their payouts for two months. At the same time there are up to 20 thank-you notes per day for every negative feedback on TrustPilot, which was not ignored by the service and the company managed to get a shadow ban on TrustPilot.
In this case, the story in the negative reviews is like a copy – there were standard normal payments for 2-3 months, and then the payment procedure stopped, the users are fed with the wind-up or even block their accounts for far-fetched reasons. Therefore, our service considers investing in Shamining risky.
10. IQ Mining – 2.2 points
A year ago we wrote that IQ Mining is a relatively young company, which does not yet have a sufficient number of reviews on the Internet. Is it worth investing in it? Rather no than yes, because the risks outweigh all the benefits provided by IQ Mining. And the availability of workstations in China, if you believe the information from the site, looks very suspicious in view of the recent laws in that country related to the ban on mining.
On the surface, the website of the IQ Mining provider does not differ much from dozens of similar services. However, reviews on the Internet are upsetting: users very often not only do not receive their income, but they pay “for nothing”: another transaction can close the electricity rent for the previous contract, and not go to the purchase of new capacity. The service even tries to lure new users with regular discounts of up to 35%.