November 18, 2020

Cloud Mining Contracts – Are They a Good Investment?

As my blog readers know, I will only promote goods or services I use and invest in. I will not only promote them. I wanted to upgrade my recently acquired cloud mining contracts. In contrast to conventional mining, cloud mining works differently in you do not buy any hardware for you to make mining. What this means is that the possession of your own personal equipment does not incur high energy costs. Everything’s done by someone and you buy into a tub. I didn’t really know what to expect when I started them on May 23rd.

I felt I had a lot of details and data to deliver a positive update over the past 2 weeks. Hashing24 was the very first agreement I began. They sell just mining Bitcoin. The way it works for you is to buy whatever hazing power you want (see my article “mining” for more). You have plans of about 100 GH/s and only cost a small quantity of eighteen dollars. As they offer indefinite contracts, you pay 1dolar1.033 for the hundred GH/s a little regular service fee.

 

The upside of Hashing24 is that you are potentially able to receive regular payments for ever after you pay your early amount. It is like buying an instant annuity in this way.

I bought 4500 GH/s ($800) to make full disclosure. After the regular fees are eliminated and I make about seven dollars per day based on the value of Bitcoin. Extrapolating this will be about $210 a month for an even break of just over four months. This isn’t a bad investment, as it will be all pure benefit after month 4. One thing that is also necessary to note is that the mining difficulty that will eat your income will increase in the future.

 

I decided on 25 May that I had to start a contract with my Ethereum. All big crypto businesses have been using the Ethereum blockchain technology and I really hope it will 1 day pass on Bitcoin. At the present time, it is about half large and has a $20,505,000,000 market cap, compared with $41,888,000,000 for Bitcoin.

 

Via Hashflare.io, I bought my Ethereum mining contracts. I bought 35MH/s at first and wanted to add another 15MH/s later. The contracts are one year in duration. In any pool, Hashflare also enables you to adjust the amount of hash power that you want. If you see a single pool that fits even better, you can put a greater share in it.

To know more : Buy Innosilicon A10 Pro+ ETHMiner (720Mh)

The cost for 50MH/s was $1.090, but I was banging a lot more because I paid in Bitcoins as well as appreciating the importance of my Bitcoin purchase. This meant that my Bitcoins went deeper and ultimately cost me about $900. Take the more $1.090, let’s go conservatively.

 

The calculator on your website forecasts that I would make $2,358 off my $1,090 investment at the current cost of Ethereum ($223). The kind of return is worth the risk for me.

 

Once again, since I’m an Ethereum and Bitcoin long-term investor, I see that as a good opportunity to diversify the investments and try to produce some passive income exactly at the same time. Note, cryptocurrencies are highly volatile and can have a huge effect on your future benefit. First make your homework. If you could be a long-term crypto-monetary investor, this might seem like a valuable game.

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