Cloud mining bitcoin worth it

They are basically paying you back what you paid them slowly. However, if the price of BTC does rise significantly you can make a profit doing cloud mining. My advice if you want to get into mining as a "hobby" just get a usb miner you can find on ebay.

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No it is not. The value of Bitcoin fluctuates over time. Cloud mining takes years, not months, to be profitable. By then, you've missed out on profit from the price fluctuations, which is much higher than the profit from cloud mining. Cloud mining is only profitable if you assume the value of Bitcoin will not increase during these years. Case study: Dash was the most profitable contract in June , with a payback time of 1.

Is Bitcoin Mining Still Profitable?

Around then, Asic miners were introduced. If you look at the price, it appears to have been pumped, and now is in the dumps despite IMO it being a good technology. Bottom line, if you were to pay for a contract in the crypto in question, the chance that you will make back the same amount of coin is very small. You could make money in dollar terms, but that is not the metric that you should look at, you should look at return in terms of the crypto. It may look profitable on paper, but this is very deceiving as the numbers ALWAYS change in time against you and are typically calculated in dollar terms.

If you get back half, you will be lucky. That is why people say it is better to hold the coin. Sign up to join this community. The best answers are voted up and rise to the top. Stack Overflow for Teams — Collaborate and share knowledge with a private group. Create a free Team What is Teams? Learn more. Is a cloud mining subscription worth it? Ask Question. Asked 4 years ago.

Active 3 years ago. Viewed 19k times. Is this a good option for beginners to invest or get an idea of how Bitcoin works? Improve this question. Taimoor Ali Taimoor Ali 71 1 1 gold badge 1 1 silver badge 2 2 bronze badges. Think, if it was profitable, wouldn't they be mining themselves instead of renting their equipment and dealing with customer service issues? I did this last year and the year before for our children and nephews.

Whereas the bitcoin value at it's original price never made a positive return I spent Euro, and taking the bitcoin price of this time after a year, the return would have been in the 90 Euro. But with the growth of bitcoin price it makes sense, cause during the last 2 years it went times ten. So this is a question of willingness to trust in further price growth of bitcoin Add a comment. Active Oldest Votes.

This includes the duration of the contract that can range from 12 months to 50 months, and the service fee. Bitmain also operates one of the juggernauts of mining pools in existence: Antpool.

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This, combined with photos of a handful of data centers on the Hashnest website, along with a claim of zero security incidents offers some proof that this company is legitimate. While Bitmain is based primarily in China, Hashnest has mining farms around the world, in locations that benefit from low cost electricity. Do note that if your daily payout is lower than the maintenance fee for a period of 10 continuous days, Hashnest will terminate your contract. Also unfavorable is the fact that in the HashNest agreement terms, once orders are placed they cannot be cancelled or refunded.

Hashflare , created in , is a subsidiary of Hashcoins, another manufacturer of Bitcoin mining equipment which has been around since You're also free to choose your own mining pool. Hashflare is open about its maintenance fees, and varies with the coin mined. Ethereum, ZCash and Dash contracts are not subject to any maintenance fees. Your total pay-out will depend on the mining pool you've chosen and how much hash power you've allocated to it. The Shamining team claims to have been involved in Bitcoin mining since , making them a relatively newcomer to the space.

They also claim to use mostly green energy derived from solar and wind energy sources. This is a good way to help you understand some of the concepts behind cloud mining, but won't necessarily accurately project future profits, as mining difficulty and BTC price will vary over time naturally.

The first step is to register, and create the account.

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With that done, miners can then be controlled from any device, even from a smartphone. As profits accrue, they can be withdrawn instantly.

TOP 5 FREE Bitcoin Mining Sites -- World's Best Bitcoin Mining Site - No Investment - 0.005 BTC/min

While it is currently available, it is not offered for US residents. Eobot has been around since and is registered in California. Its owners have decided to remain anonymous, so there are no photos or office addresses on the main website, which is hardly reassuring.

Eobot's site did not play nicely with our ad-blocker on registration, forcing us to use another browser. Eobot previously offered mining contracts either for 24 hours or ten years.

Bitcoin cloud mining, is it worth it and is it safe?

The website is neatly laid out and also offers a fee estimator to allow you to calculate daily profits in exchange for the hashpower you purchase. Its main page is very clear that most investments will take around 52 months to break even. Unlike some other cloud mining websites we've reviewed, Eobot also offers an easy to understand explanation of how maintenance fees work. Contracts are available for a wide range of cryptocurrencies.