Bitcoin Cloud Mining is a topic that´s discussed quite a lot and you might get many different and diverse opinions on the topic as well as on the companies offering those services. I´m one of those who are invested in Cloud Mining but nonetheless I urge everyone to be careful while getting involved as there exist many scams within this field.
So far I´ve came across two companies I trusted with my money, which were Genesis-Mining and Hashflare. I haven´t experienced any issues with their services yet, Payouts got processed smoothly and the profitability is sweet so far 😊
Why I´m Invested In Cloud Mining
So what´s the reason why I´ve put some money into cloud mining? Well that´s actually explained quite quickly and easily. In my opinion it´s already profitable these days but the BTC you get from it will be worth even more in future due to rising prices.
That being said a profitability of just a few percent today due to e.g. an increased difficulty or any other reasons could be outrun by those mentioned price increases. Let´s make it simple and say you invest 100$ and get about 0.01 BTC in the end. That´d be a profit of about 50$ at todays prices but eventually 0.01 BTC will be worth 1000$ in future, who knows 😉
I admit there´s a certain risk behind an investment into a cloud mining service but the profit potential is huge as well if you ask me!
A Glimpse On Potential Profitability
Let´s take a look at the currently offered Bitcoin mining contracts from Hashflare.io, which are running for a full year and are definitely still profitable at the time being. (I like Genesis-Mining as well but they are unfortunately out of stock right now.)
Initial Investment: $220 USD
Purchased Hashpower: 1 TH/s or 1000 GH/s
Contract Duration: 1 Year
Time to break even: 120 Days
So leaving facts like difficulty adjustments out of the equation you should break even on your investment after about 4 months and end up with 200% in Profits after all. Now one could argue that this is just the case whenever the Difficulty doesn´t get adjusted and no other bad things happen and I tend to agree on this perspective. Anyways I believe in significant rise in the price of BTC as well, so that any small fraction of it might end up being worth a small fortune one day!
There´s never a guarantee in life but I´m willing to take those risks to eventually get rewarded with some high profits in the end 😉 Nonetheless this is no investment advise and I urge you to do your own research before investing into anything within the cryptosphere!
In case you´re interested to start your own small mining project now, check out Hashflare.io! (Affiliate Link) 💰
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