By Joe Megan
As a blog reader I know, I will only promote the product and / or service that I use or invest. I want to give updates to the cloud mining contract that I recently bought. Cloud Mining works differently from traditional mining because you don’t buy hardware to do mining for you. This means you don’t spend large electricity associated with having your own machine. It’s all done by someone else and you just buy to the pool. When I started on May 23, I wasn’t too sure what to expect.
Because two weeks have graduated, I think I have a good amount of data and info to provide a solid report. The first contract I started was with hashing24. They only offer mining bitcoin. The way it works with them is that you buy nohing power whatever you want (for more to see my post “mining”). They have plans as low as 100 GH / s and the cost is as little as $ 18. Because they offer an unlimited contract, you pay a $ 0.033 daily care fee per 100 GH / S.
The upside down model for the results24 is that once you pay your upfront amount, you can theoretically collect daily payments forever. That way is similar to buying direct annuities.
For the sake of full disclosure, I bought 4500 GH / S ($ 800). After daily costs are reduced and, depending on the value of Bitcoin, I produce around $ 7 per day. If we extralatinate it, it will be around $ 210 per month with a break-even point for four months. It’s not too bad investment because everything after the four months will become a pure profit. One thing to remember is that mining difficulties will increase in the future that will take your profits.
On May 25, I decided to start a contract to mine Ethereum. Ethereum Blockchain technology is being embraced by all major Crypto companies and I truly believe that one day will pass the Bitcoin value. At present about half the size of the market close $ 20.505,000,000 compared to Bitcoin $ 41,888,000,000.
I bought the Ethereum Cloud Mining contract through Hashflare.io. At first I bought 35MH / s and then to decide to add another 15MH / s. His contract for one year. Hashflare also allows you to change the percentage of the power hash you want in each pool. If you see a better performance pool, you can put a higher percentage into it.
The cost for 50MH / s is $ 1.090, but I got more for my money because I paid in Bitcoin and my bitcoin purchase value was appreciated. This means that my bitcoin goes further and, in fact, cost effectively around $ 900. Let’s go conservative and take a higher amount of $ 1,090.
Calculator on the site they predict that at the current Ethereum price ($ 223) I will get $ 2,358 from my $ 1,090 investment. Such returns make it worth the risk for me.
Again, because I am a long-term investor in Bitcoin and Ethereum, I see this as a solid opportunity to diversify your portfolio and at the same time trying to generate passive income. Keep in mind that cryptocurrency is very fluctuating and wildly can have an impact on your profit potential. Do your homework first. If you are a long-term investor in Cryptocurrency, this seems to be a valuable game.
