If you’re reading this, then I suppose you’re planning to pursue the latest cryptocurrency trend, and the opportunity it gives us a promising asset class for investment. However, the recent bitcoin price crash has begun a new debate on the long-term stability of several parts of the mining world. As a result, the estimated number of bitcoin miners plummeted by almost 30,000 in a matter of days. On the other hand, a lot of mining firms remain bullish and find out a whole lot of opportunities in cloud mining. The old pre-order business structure is nearly all gone - due to the current market for individual and enthusiast sales drying up cloud mining can be the only path for mining firms to go ahead.
Cloud mining offers a tempting alternative for investing in cryptocurrency, making it possible for people to get involved in crypto mining without the troubles of purchasing equipment, configuring it, and dealing with the required software and hardware.
Why Invest in Cloud Mining?
Crypto-currencies continue to get more and more famous, and I see a lot of inquiries on several community forums from those people who are serious about them and are willing to invest money but do not determine where to invest smartly and with good revenue. That’s where cloud mining comes in.
Cloud Mining is a relatively innovative way to allow people to jump on the crypto mining bus without the need of expensive bills. With cloud mining, you can rent mining machines from a firm which will provide you back the revenue from your rented mining rigs. You no longer need to deal with the electricity bills, cooling down the miners or keeping them clean - now you can submit a monthly payment and you are set to go.
Handling Volatility in Cryptocurrency
Cryptocurrencies aren’t much different from other commodities in that their prices are driven by the laws of supply and demand—if people want to buy, prices increase; if people want to sell, prices decrease. That’s what happened last year. In the autumn of 2017 BTC cost 7k dollars. Crypto enthusiasts had a chance to buy it at that price and in December 2017 to sell BTC for 20k dollars and earn a lot of money. But it is ok as those were speculators whose investments were at high risk. This is what makes cryptocurrencies a volatility, so cloud mining offers an opportunity to earn a steady passive income and it is a perfect alternative to risky investments in volatile cryptocurrency.
How to get started with cloud mining?
To start mining in the cloud, you will frequently get into a contract for a particular hash rate. Your final profit on this investment relies on the cost of crypto coins, the cost of electricity, exchange rates, ıncluding a group of elements.
Besides that, with regards to profits, businesses will often charge some type of “maintenance fee” in addition to the expense of hashing power chosen in your contract. To estimate profitability, you will have to make sure you deduct these service fees from your expected earnings. A mining profitability calculator can assist in creating a rough cost/benefit analysis of various mining solutions.
Hashtoro is the fastest growing cloud mining company offering three cryptocurrencies, LTC, BTC, and Ethereum mining in equal ratios. We provide mining opportunities even to those with low budgets, as our platform has low entry barriers. This is our primary advantage over competitors.
You can start on our platform for 20 Euros. That is the minimum plan available. We usually buy up Bitmain equipment and spin it up. So, that gives us a hash rate increase of 10-20%. More hash rate means more revenue for your investments.
Another advantage we have over competitors is low service fees and availability of unlimited contracts. As all other companies in the market do not have an unlimited contract feature and their prices are higher.
One more thing that distinguishes Hashtoro from other cloud mining service providers is our powerful software, which depends on neuron networks models and machine learning algorithms to help choose the right pool to make the most earnings. Therefore, you can get the highest revenue from the hash rate you have.
Statistics of daily assessments and profit predictions are always within your reach. You can take out your cryptocurrency using immediate and simple-to-use tools with the opportunity to reinvest your earnings.
If the risky world of Cryptocurrency still confuses you as to what you should pick between traditional mining and cloud mining, then consider that every person chooses his way to make the profit by himself. Speculators are choosing conventional mining with higher risks. But why go for that when there is an excellent alternative?