Bitcoin mining is a costly and time-consuming activity. Not only do you need to have a lot of know-how to even know where to start but you also need the right hardware, a reliable supply of cheap electricity, decent bandwidth, powerful ventilation and air conditioning, and other things.
For these and other reasons, more people than ever are turning to bitcoin cloud mining services such as Genesis, HashFlare, and Hashing24. You probably wouldn’t set up your own home web server and pay for an enterprise-grade Internet connection just to host a single website on the web, so why pay for bitcoin mining infrastructure when you can rent it from a cloud mining company?
Interested in investing in Bitcoins or other Altcoins?
Cloud mining services own and operate huge bitcoin mining operations, renting their hardware based on hash power. For any amount of hash power you purchased from a bitcoin cloud mining service, you earn a share of payments for any revenue generated. With bitcoin cloud mining, you can start earning instantly, reliably, and without any hassle.
Before you embark on your bitcoin cloud mining journey, you should know that most bitcoin cloud mining services are run by scammers whose only goal is to rob you of your hard-earned money.
Anyone can set up a professional website in a day and pretend to own powerful mining hardware and offer it for rent. Most scammers even initially send payments to their customers to attract even more victims. After a while, they start having “unexpected technical issues,” which is usually an early sign that they’re about to run away with their customers’ money.
Fortunately, reputable cloud mining services do exist, and they include Genesis Mining, HashFlare, and Hashing24. Let’s take a closer look at these three services to see what they have to offer and to understand what are some of the major differences between them.