Cryptocurrency mining, also called Cryptomining is a process of validating transactions for a different form of cryptocurrency and adding them to the blockchain digital registry. Cryptomining has many different names such as Cryptocoin mining, Bitcoin mining, Altcoin mining. Cryptocurrency is one of the most popular topics that has grown more rapidly in the past few years.
Each time a cryptocurrency transaction is done, a cryptocurrency miner is in charge of ensuring the genuineness of information and updating the blockchain with the transaction. The process of mining involves playing with other crypto miners to solve complex mathematical problems with cryptographic hash functions. These functions are associated with a block containing the transaction data.
For people who want to join the cryptocurrency mining business and don’t want all the headaches and maintenance involved in the process that mining hardware can cause, then cloud mining is the best source or platform to enjoy the benefits of participating in mining. Here raises the question that ‘what are the best cryptocurrency exchange platforms?’ So we searched for the best platforms and made a list. The platforms listed here are NOT an endorsement but serve just as a cloud mining comparison.
1. Hashflare Mining:
Hashflare is owned by Hashcoins company which develops software for cloud mining and maintains equipment in data centers. Its official website gives detailed information of the firm’s data center with pictures. It is a popular company with affordable prices. Hashflare offers you to purchase profitable SHA-256 coins such as Bitcoin and Litecoin. But customers must buy at least 10 GH/s.
As of now, Hashflare offers Hashrate for Bitcoin and Litecoin mining for 1 year, but earlier mining contracts were unlimited. From January 2018, Hashflare has temporarily suspended new Bitcoin withdrawals due to many unverified transactions. The company then said that they will plan to resume withdrawals once this is resolved.
2. Genesis Mining:
Genesis Mining is the largest Bitcoin and script cloud mining provider and is the safest. So, this is the best place to begin your business. The company sells bitcoin mining contracts and it is now one of the largest cloud mining companies in the world. It offers the possibility of mining various cryptocurrencies such as Bitcoin, Ethereum, Zcash, etc, that are priced sensibly.
It also offers a live feed on the website. The mining contracts are available for all major cryptocurrencies and its users can visit online 24/7 to reallocate their purchased ‘hash power’. The price of different cryptocurrencies vary at any time and we suggest you make your own research. The website also has a payouts section where a user can monitor how much he/she has mined. Because of high transaction fees, your mined coins must have to reach a minimum threshold before the funds are transferred to your wallet.
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3. Hashing 24 Mining:
Hashing 24 is the best place who want to mine Bitcoin. It uses modern ASIC chips to deliver the utmost performance and efficiency possible. The user has to simply pick his/her plan, pay for it and collect freshly baked Bitcoins. People can start Bitcoin mining here in five minutes by following few steps.
Hashing 24 appears to have no data centers of its own, but it has united with big name providers such as BitFury to lease hash power to customers. People do not need to worry about maintenance, equipment, power outages or bad weather, the company takes care of everything for you and you need to focus on mining itself.
4. Hashnest Mining:
Hashnest is a cloud hashing platform where a user can participate in Bitcoin mining without maintaining the hardware equipment. It has a parent company which is one of the world’s leading Bitcoin mining rig developer, BitMain Technologies.
BitMain is a renowned manufacturer of ASIC mining hardware and best known for their Antminer series and Antpool mining pool. Hashnest website always updates the pricing and availability. Hashnest seems to be frightening, but if you are OK with cloud mining, then it is one of the best choices.
5. Eobot Mining:
Eobot allows trading between Bitcoin, Litecoin, Ethereum, Bitcoin Cash, etc. Here, a user can start cloud mining Bitcoin with a very little amount and offers mining contracts either for 24 hours or five years. The Eobot website offers a fee estimator that allows you to calculate daily profits in exchange for the hashpower you purchase. The main page of the website clearly shows most investments will take around 52 months to break even.
So, these are the best Cryptocurrency Mining Services we have identified. Pick the right one according to your purpose.