Cloud Mining Contracts – Is It a Good Investment?

As readers of my blog know, I will only promote products and / or services that I use or invest in. I wanted to provide an update to the cloud mining contracts I recently received. Cloud culture works differently than traditional mining where you do not buy any equipment for mining. This means that you will have to pay a high price for having your own car. Everything is done by others and you just buy a pool. When I opened them on May 23, I wasn't sure what I was expecting.

Two weeks later I thought I could give you some good information. The first contract I started was with Hashing24. Only Bitcoin mining offers. The way to work with them is to buy the hashing power you want (see my "mine" section for more info). They have plans of up to 100 GHz and cost up to $ 18, and they pay a small daily repair fee of $ 0.03 per 100 GH / s because they offer indefinite contracts.

Hashing24 & # 39; The disadvantage of the model is that you can collect your daily payments forever after paying the down payment. This is like getting an annuity immediately.

For full disclosure, I received 4,500 GHz ($ 800). I make $ 7 a day depending on the daily payments and the cost of Bitcoin. If we extrapolate it, it would be about $ 210 a month with a break in just four months. This is not a bad investment, because in four months everything will be a net gain. And don't forget that in the future, your mining profit will increase.

On May 25, I wanted to sign a contract for Ethereum culture. Ethereum blockchain technology is mastered by all major cryptocurrencies and I really believe Bitcoin's value will be gone one day. It is currently about half of Bitcoin's market value of $ 20,505,000,000, compared to $ 41,888,000,000.

I got Ethereum cloud mining contracts through Hashflare.io. First I bought 35MH / s and then decided to add another 15MH / s. The contracts are one year. Hashflare also allows you to change the percentage of hash power you want in each pool. If you see a pool doing better, a higher percentage can be imposed.

The 50MH / s cost was $ 1,090, but I paid for Bitcoins and got more bang for the buck as the value of my Bitcoin purchase was assessed. This meant that my Bitcoins went even further and it cost me $ 900. Let's be conservative and get $ 1090 higher.

The calculator on their site predicts that I will earn $ 2358 from my current $ 1,090 investment at Ethereum's current price ($ 223). This kind of turn makes me risk it.

Again, since I'm a long-term investor in both Bitcoin and Ethereum, I see this as a solid opportunity to diversify your portfolio and at the same time generate some passive income. Remember that cryptocurrencies are extremely volatile and can have a devastating effect on your potential profit. Do your homework first. If you are a long-term investor in Cryptocurrency, it seems like a worthwhile game.