Cryptocurrencies whether Bitcoins or altcoins are gaining recognition in mainstream financial systems. New products and concepts are introduced in crypto markets to improve the experience of the crypto community. “Ethereum Cloud Mining” is one of the latest concepts which we are going to discuss in this article. Along with it, a list of some paid and free websites associated with cloud mining will be reviewed for your convenience.
What Is Ethereum Cloud Mining?
Let us first try to understand cloud mining. As its name suggests, you must be imagining that some of the people are there on the cloud with a mining tool in their hand and digging deep. Oops! Sorry for the intended pun. This was just to relax your mind before starting to learn a new concept.
Cloud mining is a process to transfer or share technical power to mine cryptocurrency. If a crypto enthusiast is looking to enter into the mining community without investing much of funds, then cloud mining can be the best option to become a part of the mining process of crypto coins. Ethereum cloud mining can be understood as the process of producing ETH by sharing power consumption with minimal requirement of Bitcoin mining hardware. In a way, you pay somebody to rent out their crypto mining devices, electricity, and also for the mining process.
How To Start Cloud Mining Ethereum?
After getting fascinated with the concept of Ethereum cloud mining, if you wanted to start cloud mining Ethereum, you need to follow simple steps:
- Find a host means somebody who is willing to sell their Ethereum cloud services to you.
- As Ethereum facilitates smart contracts on their network, you need to agree upon terms and conditions of Ethereum mining contracts(which could be “minor investment-minor profit” to “huge investment-major profit”) set upon by the host.
- After some time, when you find the service legit and you are satisfied with services; you can upgrade the contract at any given time and gain from crypto mining.
You can start with cloud mining by finding a website facilitating the service of Ethereum cloud mining which could be free or paid. Let us give you both options in brief.
Paid Ethereum Cloud Mining Sites
Paid Ethereum cloud mining websites means you have to pay the initial fees to host or websites to initiate cloud mining. In addition to high hash speed, paid services grants you permission to control some of the decisions. Also, some of the rich mining fam rigs let customers tune in with the help of cameras and monitor the quality of work. Some of the websites which are popular in crypto space are:
Hash Flare
Genesis Mining
HashGains
Free Ethereum Cloud Mining Sites
Another way to start the cloud mining of Ether is to find the cloud mining websites which do not ask for the initial fees or free Ethereum cloud mining sites. If you don’t have to deposit, then anyone can use it! But that is not the case, services are like free trial periods where the small percentage of earned profits is paid as rent to host websites (through smart contracts)
Swiss Gold Global
Nice-Miner
Ethereum Miner (ethrun.net)
Thus, both paid and free hosts captivate the attention of the crypto miners. We cannot advocate that due to free Ethereum mining websites, crypto miners are attracted more towards it. Experienced and advanced traders generally go for the paid services due to their extra appealing features. It can be concluded that the best Ethereum cloud mining pool would be that, which fulfills your requirements and is affordable to you.