When cryptocurrencies first emerged, the only way to earn Bitcoin was to set up a rig and get crunching. Only blockchain enthusiasts possessed enough technical knowledge and skill to mine crypto. However, the mining landscape has changed with the creation of cloud mining. Instead of buying equipment and wasting time on the setup, you join a mining pool and start earning instantly.
The Benefits of Online Mining
Cryptocurrency mining has become a significant investment trend, and if you want to dabble without huge risks, online mining is the way to go. With cloud-mining platforms, you:
- Save money on equipment, utility bills, and more.
- Get a way to earn Bitcoin without losing thousands of dollars.
- Earn more through referral programs and save using promo codes.
- Save time on buying, setting up, and maintaining your mining pool.
How to Start Earning Cryptocurrency in the Cloud?
Instant set up and earnings are among the primary benefits of cloud mining. You can take a few simple steps to join the Bitcoin mining community:
- Choose one of the cloud-mining platforms, such as Hashshiny, ViaBTC, Elysium, or MinerGate.
- Create an account by providing login and personal data, such as your birthday and the country of residence.
- Select the currency to mine and the hash power for your contract, as they will affect your earnings.
- Transfer the payment for the contract, finalize the deal, and mine crypto.
- Withdraw the earnings or reinvest once the mining pool produces the first results.
As you see, cloud mining does not require technical know-how or in-depth understanding of the inner workings of the blockchain. It is an investment opportunity for forward-thinkers who want to try something new without burning through a huge budget and waiting years to see returns.
How to Choose among Cloud-mining Platforms?
You can learn the particular features Cryptomining.Farm, Genesis Mining, HashFlare, and others offer through reviews. With a solid idea of how to start earning using online mining platforms, let’s look further into the first step of picking the one to entrust your funds. Ensure it has these features:
- Minimal entry threshold. Bitcoin mining platforms offer a variety of contract lengths, rates, and packages, starting as low as $0.60.
- Transparent contract terms. You should be able to track every withdrawal and Bitcoin mining fee without surprise commissions and hidden payments.
- Instant withdrawal options. The vendor you select should offer a way to earn Bitcoin and withdraw your earnings via wire transfer, credit card, PayPal, or cryptocurrency payment.
- Unlimited contract duration. This enables you to keep earning without regularly re-signing the contract, but it is not universally available for cryptocurrency mining.
- Promotions, coupons, and discounts. Any chance to save on hash power makes your contract more profitable.
- Affiliate program. For every person you refer that signs up and sets up a cryptocurrency mining contract, you can get a commission of up to 10%, depending on the vendor.
If you have always wanted to mine crypto, cloud mining enables you to experiment without large-scale investments. Now that you know how to start earning using cloud mining and realize what to look for among cloud-mining platforms, go on to research their features and find the one that suits your earning ambitions.