Friday, May 17, 2024

Streamlined BTC Cloud Mining w/ Hashing24: Major Pros and Cons

By and large, conventional solo cryptocurrency mining is not profitable anymore and zillions of avid crypto miners in the US, UK, Singapore and elsewhere turn their scrupulous attention to cloud based crypto mining. Especially with this year’s ban on cryptocurrencies and crypto transactions in China, the cloud cryptocurrency mining industry is experiencing a modern resurgence in the global digital segment. The following brief analysis is devoted to online cloud based crypto mining services using the Hashing24 cloud mining service as an example.

Essentially, crypto cloud mining is a cryptocurrency mining method where persons mine crypto (BTC, ETH, DASH, LTC, DOGE, etc.) using leased remote hardware located in special powerful mining data centers equipped with the newest immersion cooling systems. In the case of Hashing24, the company is an official seller of cloud hash rate capacities produced by Bitcoin mining conglomerate Bitfury. Case in point, Hashing24 is the one and only official partner of Bitfury authorized to publicly sell BTC hash rate capacities to miners. Bitfury has established its reputation on the crypto mining arena as one of the pioneers in the digital asset and blockchain ecosystems and is well known for mining only new coins (no empty blocks are mined). Additionally, Bitfury produces mining hardware, applications for computers , develops blockchain-as-a-service solutions and tech-savvy AI apps.

The site allows all people interested in crypto mining to start mining the most scalable and profitable crypto Bitcoin virtually instantaneously and it is not necessary to know all the specifics of complex crypto mining processes. To become a cloud miner, one should fulfill three simple steps:

  • Register with Hashing24.
  • Choose the cloud mining plan and pay for it.
  • Get newly mined coins and withdraw mining earnings.

Online registration takes a few minutes and the user is not obliged to pass any KYC procedures in order to become a cloud coin miner. Once registered, the platform user is able to select the BTC cloud mining plan (there are 12, 18 and 24-month tariff plans) and pick the desired hash power in TeraHash per second (TH/s). The good thing about it is that the user can start coin mining with minimal investments, thus providing easy entry and exit points for crypto portfolio vested capital. After setting up all cloud mining parameters, the user proceeds with the contract payment. The available payment methods include Bitcoin itself, popular fiat currencies like Euro and US dollar, bank wires / transfers, altcoins, stablecoins, SEPA, SOFORT and region-specific payment gateways.

In order to decide on the BTC cloud mining profitability and the investment amount, the site visitors are free to use the Mining Profitability Calculator. By entering relevant data into the required fields any person can make online calculations with regard to short-term or long-term ROI. The page displays the following fields: Hashpower, Current and Future Mining Difficulties, Current and Future BTC price. All calculations are done in real-time and serve as a starting point for cloud farm activities with Hashing24. In addition, the site offers toll-free Demo mining services. Users can become virtual crypto miners and mine BTC in Demo mode. All indicators are identical to real cloud coin mining and the functionality serves as a crucial point for determining all investments risks and cloud mining profitability in the long-run.

Why People Choose Hashing24 for BTC Cloud Mining?

  1. It is an easy-to-use platform with established reputation and trademark recognition.
  2. Largest BTC hash rate capacities in the crypto mining industry.
  3. Newest and next-generation ASICs for non-stop BTC cloud farm activities.
  4. Daily payout of mined coins and fast withdrawals.
  5. A miner can sell and buy BTC mining contracts on Trading Room.
  6. Best-paying crypto Affiliate program (up to 10% affiliate commission).
  7. Unprecedented uptime guarantee.
  8. Affordable prices for all crypto mining tariff plans.

Separately worth noting is Trading Room. This is a unique value propositions designed and deployed by the Hashing24 team. All users can trade (put up for sale or buy) Bitcoin mining contracts as orders in the order book (Trade Desk). Trades even can sell their contract after 1 day use, which is very helpful and market-oriented considering the volatile crypto market (bearish and bullish trends). It allows for easiest exit points in case the BTC price goes down all of a sudden. The minimum contract step is just 1 Satoshi and the trading fee equals 5%. The trading Room contains all relevant market depth graphs and charts, detailed statistics of orders, deals and many more to satisfy the speculative appetite of traders and HODLers alike.

In short, the Hashing24 website is a great place to start BTC cloud mining even with minimal knowledge in crypto mining, hardware or software. Cloud mining is functional all year round (Jan., Feb., Mar., Apr., May., Jun. Jul., Aug., Sept., Oct., Nov., Dec.) and miners should not rack their heads over sky-high electricity bills, overheating or ecological issues, premises, cooling, ventilation, stable Internet connection, just to name a few. Cloud mining is all about simplicity and affordability. However, there can be certain disadvantages associated with cloud mining. They are:

  • There are many scam companies, therefore it is recommended to always double check the reliability and reputation of the cloud mining service provider.
  • Centralization of the mining process by large farms and  profits are susceptible to demand.
  • Service providers may have security issues with transaction processing.

In summary, solo Bitcoin mining was profitable about 10 years ago and a plethora of miners prefer using the high-tech and tech-savvy cloud mining services in Singapore, Spain, Malaysia and virtually everywhere. In any case, it is always important to do your own research before investing in any crypto-related activity and carefully weigh all pros and cons.

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