Cloud Mining Review: Should You Really Do It or Avoid It?

Not all cloud mining companies are created equal and there are even manyscams on this subject as the vein is good to exploit; some are more profitable than others depending on the price that is set.

If you are looking for more information about cloud mining and we remind you of its definition in this article here.

😎 If you do not want (for the moment) to buy equipment to mine at home due to lack of space or simply lack of financial means (yes, rigs or bitcoin generators are expensive!), you can opt for the Cloud Mining solution.

The choice can indeed be difficult. But above all, we wanted to know if cloud mining was an opportunity worth seizing. What are the advantages and disadvantages of cloud mining?

We remind you that cloud mining consists of mining bitcoin through a company that owns mining farms and rents its computing power. So you can get bitcoins every day without having to buy hardware at home.

Here are the advantages of doing cloud mining:

You have no equipment to purchase or maintenance costs
There is no noise or need for space
No electricity costs. Everything is included in the price.
Possibility of having coins passively (once a month, you collect your winnings)
Long-term contracts and therefore the possibility of winning in hold.

And what about the desantages you would tell me?

Regarding the disadvantages of cloud mining, these are mainly equipment costs. It will indeed be cheaper for you to mine at home. In fact, you will not have to pay commissions or fees to a company. Additionally, the other downside to using cloud mining is that some companies may close your contract. This can happen if the price of the mined crypto is not profitable after a certain time.

This was the case, for example, for Genesis Mining for certain contracts.

Mining with Genesis Mining

However, rest assured, this remains rare. Typically, companies change cryptocurrencies and notify you of possible changes.

So here is this quick little article to give you our opinion on cloud mining. You must of course do your own research on the subject because it will depend on several parameters.

Do not hesitate to give us feedback or suggestions and give us your opinions on cloud mining!

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Note: No financial advice is given in this or any other article on zonebitcoin. This is information of which you are the sole judge and master. Be responsible with your investments and only invest as much as you are willing to lose.

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