Safe, Not Sorry: How to Treat Cloud Mining Right
Cloud mining, according to some, is one of the most profitable ways of investing online. Many users are aware of such opportunity and actively use it. Others think that ‘making money from nothing’ is nothing more than fraud. As always, the truth lies somewhere in between. Cointelegraph has looked into the issue of trust to find out why is there such a distrust for cloud mining and how should one approach this technology in a safe way. Trust issues. Like any other investment area, cloud mining presents certain risks. To begin with, there’s no country where cloud mining is regulated by law.....
Related News
Cloud mining service providers have been facing hard times ever since the Bitcoin price dropped below $320. Whereas major Bitcoin cloud mining service providers had to shut down operations for an undisclosed amount of time, new companies started appearing all over the internet. XScrypt is one of those cloud mining companies, but it looks like the “company” has gone bust after multiple issues with payouts. Running a cloud mining company is not as easy as it may sound. Not only does a cloud mining operator need access to mining hardware — either self-hosted or remote — but there are tons of....
GAW & Zenminer Cloud mining operations have been 'indefinitely put on hold' [sic]. That is the message that greets the Zenminer cloud users while logging into their portal. Zenminer cloud informs the logged in users that this is a move to protect the user's value and to reduce risk. The reasons given are these two, as shown in the image on the right: Continued mining places customer's value at risk. Customers mining efforts at risk. Thanks to all of the factors mentioned below: Bitcoin Roller Coaster Price fluctuations. Unstable Market Conditions. Diminishing Bitcoin Value. Unbalanced Cost....
In the world of cloud-based bitcoin mining, you never know what you are going to get. Most operators should be scrutinized and researched thoroughly before signing up as there are definitely some legitimate operations. However, there are quite a bit of shady practices as well in the cloud mining space. Recently, a lot of discussions have been aimed at....
Cloud mining is the answer to risks associated with Bitcoin mining as it is no longer feasible to invest in a personal mining setup and risking it not to pay off. MinerGate, one of the oldest multi-currency mining pools, enters into a partnership with a BitFury associate Hashing24 to provide its clients true cloud mining experience. Cloud mining is the answer to risks associated with Bitcoin mining as it is no longer feasible to invest in a personal mining setup and risking it not to pay off. Cloud mining on the other hand lets one earn their first Bitcoins within a matter of days without....
CEX. IO, one of the leading bitcoin exchanges and cloud mining service providers, has announced the temporary suspension of its cloud mining services. They can attribute this policy change to the sudden and drastic drop in bitcoin value in the past weeks. The suspension is set to begin at the next bitcoin mining difficulty increase and it is unclear how long the suspension will continue. Jeffery Smilth, Chief Information Officer of CEX. IO, stated that this is a forced temporary measure, and. "...as soon as we get an opportunity to upgrade mining hardware, or come to more efficient terms....