Have you been thinking about cloud mining?
Investing in cryptos is a minefield for the uninitiated. Buy, but buy what? Hold, but for how long? How the hell do I buy a bit coin anyway!!
One common argument is why pay for a cloud service when you can just buy the coin? Well if you buy one coin you have one coin, but if you buy shares in a cloud mining service then you will have 3 or 4 coins, but after two years. If you are playing the long game, then this is good, if you want to day trade then this is not for you. Below are the pros and cons of cloud mining.
The Pros
You are buying hashpower so it is not reflective of the price of coins - if the coin prices are up then you still have the same hashpower
Generate coins immediately
No investment in machines necessary - even if you want to get an ASIC miner they are sold out almost everywhere - seriously it is nuts
Credit cards accepted - big bonus considering the heft fees charged by companies like Bitstamp and Coinmama to buy BTC
The Cons
You are buying hashpower so it is not reflective of the price of coins - if the coin prices are down then you still have the same hashpower
Earning decrease over time due to the increase in difficulty of mining
Some contracts are limited - Hashflare has one year and Genesis two year contracts
Read the fine print many contracts include maintenance or electricity fees like the lifetime Bitcoin contracts with Hashflare and Genesis.
To cloudmine or not to cloudmine, that is the question.
If, yes, then check out the links below to Genesis and Hashflare.
Currently the best deal are
Genesis - two year Dash contract - no maintenance fees and good return
Hashflare - Scypt contract - lifetime - electricity fees apply but the numbers are solid
If you use Genesis then please use my code when making a purchase to get a 3% discount it would really be appreciated.
