Mining bitcoin requires a lot of energy and a unique system of computers that solve problematic math problems. Then miners get rewarded with bitcoin for each math problem they solve. There are large bitcoin mining farms around the globe. They look like some kind of sophisticated bitcoin factory. Someone that wonders about bitcoin and is new to it would be surprised when seeing them.
But there is another way of mining bitcoin, called cloud mining, which does not require a lot of energy, and equipment. Cloud mining offers the mechanism to mine bitcoin or other cryptocurrencies without needing to install the hardware to do it. Basically, cloud mining, which is also known as cloud hashing, is a service that enables users to lease mining capacity (hashing power) of hardware in remote data centers and earn bitcoins as the miners generate them.
There are many bitcoin cloud mining websites out there, but many of them are scammers. You must be careful when picking one so you have to choose a reliable site. If you want to know more, here is a free guide to best bitcoin cloud mining sites in 2020.
Now, let’s take a quick look at the three most trustworthy bitcoin cloud mining sites in 2020!
Stormgain is undoubtedly one of the most prestigious and reliable cryptocurrency trading platforms. They have a large number of customers and it is a great solution for those who want to profit from day trading or from long term investments in crypto assets. If you want to use Stormgain you can find it anywhere as it is available in any device.
Hashflare was founded in 2013. Then it started providing cloud services in 2015. Their services are very fast, and it has an updated panel every 24 hours. They have very low prices for mining Ethereum. Except for Bitcoin and Ethereum, the company offers mining also for Zcash, Dash, and Scrypt. They offer various payment methods, including bitcoin, credit cards, bank transfer, Payeer, etc. Hashflare currently has suspended the signing of new contracts.
Hashin 24 began its operations in 2012. They have mining farms in Georgia and Iceland. The company also claims to utilize present-day ASIC chips made by BitFury to ensure the best execution and productivity. Hashing 24 offers a three-year contract in which you pay $34.90. The downsides of Hashing 24 is their website is not so intuitive, and they offer only bitcoin mining.
Should I use bitcoin cloud mining?
It is all up to you. Many people prefer bitcoin trading rather than mining bitcoin. But, mining could also be the right choice of investment to generate income. Starting is not complicated. Just pick one of those top cloud mining sites and start your investment.