Best Cloud Mining Services in 2024

  • Available coins
    BTC, ETH, etc.
  • Payments
    Daily
  • Year of founded
    2017
  • Country of registration
    China
  • Available coins
    BTC, ETH, etc.
  • Payments
    Daily
  • Year of founded
    2017
  • Country of registration
    Seychelles
  • Available coins
    BTC, ETH, etc.
  • Payments
    Daily
  • Year of founded
    2013
  • Country of registration
    Germany
  • Available coins
    Various cryptocurrencies
  • Payments
    On demand
  • Year of founded
    2014
  • Country of registration
    Slovenia
  • Available coins
    BTC, ETH, etc.
  • Payments
    Daily
  • Year of founded
    2018
  • Country of registration
    Hong Kong
  • Available coins
    BTC, ETH, etc.
  • Payments
    Daily
  • Year of founded
    2016
  • Country of registration
    United Kingdom
  • Available coins
    BTC, ETH, etc.
  • Payments
    Daily
  • Year of founded
    2019
  • Country of registration
    China
  • Available coins
    BTC, ETH, etc.
  • Payments
    Daily
  • Year of founded
    2018
  • Country of registration
    Singapore
  • Available coins
    BTC
  • Payments
    Daily
  • Year of founded
    2015
  • Country of registration
    United Kingdom
  • Available coins
    BTC, ETH, etc.
  • Payments
    Daily
  • Year of founded
    2017
  • Country of registration
    Armenia
  • Available coins
    BTC, ETH, etc.
  • Payments
    Daily
  • Year of founded
    2018
  • Country of registration
    Kazakhstan
  • Available coins
    BTC, ETH, etc.
  • Payments
    Daily
  • Year of founded
    2016
  • Country of registration
    Switzerland
  • Available coins
    BTC, ETH, etc.
  • Payments
    Daily
  • Year of founded
    2018
  • Country of registration
    United Kingdom
  • Available coins
    BTC, ETH, etc.
  • Payments
    Daily
  • Year of founded
    2017
  • Country of registration
    Russia
Advantages and disadvantages

Cryptocurrency mining is one of the new types of activities with excellent prospects if all processes are properly organized. The main idea is that a miner needs a device with a corresponding amount of computing power to mine new blocks in the cryptocurrency system. Rewards are granted for these blocks. The problem is that the complexity of computational processes is already quite high today, especially for popular cryptocurrencies like Bitcoin and Ethereum. It will continue to increase. Consequently, more computing power is required for the equipment to be profitable. Buying and upgrading equipment entails constant substantial expenses. The solution to this problem is cloud mining, the features, pros, and cons of which are worth exploring.

How Cloud Mining Differs from Traditional Mining

The standard scheme for cryptocurrency mining involves buying suitable equipment. Mining can be done on graphics cards, but today, mining on Application-Specific Integrated Circuits (ASIC) is considered more promising and efficient. ASICs are not cheap, and neither are the other components of the equipment complex, including the cooling system. Typically, for high profitability, multiple components are required, creating complete mining farms, preferably in a separate facility. In other words, classical cryptocurrency mining initially assumes significant financial investments, and the result may not always meet expectations.

To simplify the task, one can connect to cloud mining. The essence of all processes remains the same. The difference is that the user does not need to independently select and purchase the equipment. Through the internet and specialized software, computational power is leased from companies that have sufficient equipment. These services are usually provided on a paid contractual basis. Thus, one needs to choose a service, register, install the application on their device, sign a contract, and then connect to the mining process. Rewards for each found block are distributed proportionally among all participants.

Advantages of Using Cloud Mining

The advantages of this method of cryptocurrency mining through the best cloud mining sites include the following aspects:

  • Possibility to organize a primary or additional passive income on a regular basis.
  • No need for significant financial investments at the start.
  • No need to purchase and install expensive equipment.
  • No high requirements for technical knowledge and skills for connecting and configuring equipment and mining software.
  • Quick entry into mining – registration and connection to cryptocurrency mining can be done in just a few minutes.
  • Cloud mining can be used via smartphone, laptop, or PC, provided it is a relatively new model with optimal characteristics.
  • No costs for electricity, a significant expense in traditional mining when installing powerful equipment.
  • No discomfort from the noise produced by high-performance equipment during calculations.

Additionally, one can start cloud mining without initial investments, as many services offer genuinely profitable bonus programs. It is also possible to generate additional income from a referral program.


How Profitable is Cloud Mining — Drawbacks and Risks

Certainly, when joining online services for cryptocurrency mining, novice miners immediately solve a range of problems and reduce their startup costs. However, before that, it is necessary to carefully analyze and assess all the risks and drawbacks of this method. They include:

  • Risk of Involvement in Scam Projects or Fake Platforms:

The possibility of falling victim to scam projects or fake platforms where mining is presented merely as entertaining content, or rewards are not paid.

  • Risk of Personal Data Compromise:

The risk of personal data falling into the hands of fraudsters if the service experiences a successful hacking attack with a database leak.

  • Legal Aspects:

Questions regarding the legal aspects; in many countries, such activity is illegal or not regulated at the state level.

In terms of profitability, it is essential to understand that cloud mining can be profitable, but the returns are likely to be much lower than if one were to invest in equipment at the start and join a reliable mining pool. The profitability indicators are directly influenced by the dynamic changes in the value of any cryptocurrency asset, which can be both positive and negative.

Cloud Mining Services — List of Top Platforms

Given the increasing popularity of cloud mining, there are many scammers online who launch fake platforms and fail to pay profits. Therefore, selecting a service requires careful consideration to ensure that cloud mining delivers the expected income. The current ranking of the best platforms is as follows:

Binance Cloud Mining

A service created by the globally recognized cryptocurrency exchange, allowing users to mine bitcoins. Contracts can be signed for various durations:

  • 30 days;
  • 60 days;
  • 90 days.

After a specific collaboration period, miners gain access not only to bitcoins but also other supported cryptocurrencies on the Binance. Registration with personal data verification is required.

ByBit Cloud Mining

Another popular and reliable cryptocurrency exchange operating for over 5 years, offering cloud mining services. The company has its own P2P exchange service for instant crypto-to-fiat withdrawals or purchases for trading or staking. Users can choose indefinite contracts, and futures trading is available.

Gate Cloud Mining

One of the oldest and most reliable exchanges launched in China in 2013, supporting new trends and providing cloud mining services. The platform ensures high-level security, and users can trade a wide range of cryptocurrencies. The company offers its service both as a web platform and a smartphone app, catering to users with any operating system.

KuCoin Cloud Mining

KuCoin started its operations in 2017 and has since provided cloud mining services. Users can enter contracts for 180 or 365 days, with an overall estimated annual return of 160%. The platform has a multi-language format for convenience.

BitDeer Cloud Mining

This cloud mining service allows users to mine not only bitcoins but also:

  • Filecoin,
  • Zcash,
  • SKY (utility token),
  • Bitcoin Cash,
  • Ethereum Classic.

Operating for 6 years, the platform is trustworthy, maintaining a high level of security and reliability. An intelligent computing power management system is implemented, and users can connect via a smartphone app.

BitFuFu Cloud Mining

A popular cloud mining service offering the mining of:

  • Bitcoin,
  • FIL,
  • BCH,
  • DASH.

The average contract duration is 90 days, costing $152. Users have the option to try a trial version before opting for a paid collaboration. Customer support is available 24/7, and the company has released its own app for various smartphone operating systems.

It's crucial for users to conduct thorough research and due diligence before choosing a cloud mining service to ensure a reliable and profitable experience.

HashShiny Cloud Mining

A noteworthy cloud mining platform that offers the opportunity to mine not only bitcoins but also a wide variety of other cryptocurrencies. The platform has successfully implemented top-notch and highly efficient algorithms for block mining. Potential earnings can be pre-calculated by clients using a convenient online calculator. An important advantage is that users have full control over the mining process, allowing them to start and pause it at their discretion. Contract prices are among the lowest.

Ecos Cloud Mining

Ecos belongs to a company from Armenia operating in a free economic zone. It offers profitable cloud mining, providing free hash daily for 30 days just for registering in the system. Paid contracts are available for various durations, allowing users to sign up for 15 days or 3 months. With over 6 years in operation, the platform's contract cost for 150 TH/s is $150 USD. Free versions are also available, and the primary currency for mining is bitcoin.

IQ Cloud Mining

Popular cloud mining services offer various conditions. This platform stands out with:

  • Affordable contract prices.
  • High reliability.
  • Smart mining option, improving profitability prospects in autonomous mode without additional user actions.
  • Profit is paid from the first day of connecting to the mining service.

Payouts are made not only in bitcoins but also in altcoins and stablecoins. Contracts can be signed for 1, 2, or 5 years, or indefinitely.

Hashmart Cloud Mining

Completing the ranking, this is an excellent choice for reliable cloud mining in Russia, as the data centers are located in Siberia. Cryptocurrencies available for mining include:

  • Bitcoin,
  • Ethereum.

The platform features an automatic profit forecasting function, providing statistics on power, profitability, and transactions for selected periods. Contracts are offered for both one year and indefinitely, and payments are accepted in both cryptocurrencies and fiat money via card transfer. The contract cost is $52 USD for 500 TH/s.

How to Choose Cloud Mining?

The top cloud minings are an excellent way to find out where to connect for additional passive income from cryptocurrency mining. However, it is essential to conduct your research, considering criteria such as:

  • Service Lifespan: While longevity can be an indicator of platform durability, it shouldn't be the sole priority, as data can be manipulated.
  • Transparency: Reliable platforms operate openly and transparently, maintaining a blog and actively participating in discussions on forums.
  • Cryptocurrency Variety: Top cloud mining platforms offer multiple digital coin options, allowing effective risk diversification.
  • Functionality and Interface: Cloud mining platforms should be user-friendly, especially for newcomers, offering easy-to-understand interfaces and comprehensive statistics gathering.

Additionally, considering services that offer a trial period for free can provide insights into the potential without initial investments.

Cloud Mining - Blacklist of Scam Projects

To ensure a reliable service and trouble-free cloud mining according to stated conditions, confirm that the chosen platform is not a scam project already blacklisted by miners. Some platforms deemed unsuitable for selection include:

  • Shansis,
  • Cryptomining.cc,
  • Wizory.cc,
  • Desmine.cc,
  • MineCloud.io,
  • HashCoin.io,
  • Faxtar.com.

Conclusions

Cloud mining is an excellent opportunity to personally try and determine whether this method is suitable for earning extra income. Connecting to the process via remote servers eliminates concerns about the invested money not yielding profits from expensive equipment purchases. Moreover, organizing such activities is faster and simpler, freeing up time for other ways to earn money.