Buy Cloud Mining with PayPal

Cloud Mining Paypal
Cloud Mining Paypal

Buy Cloud Mining with PayPal

Nov 30, 2017 • 14:42

This cloud mining PayPal review aims to provide ways to get cloud mining programs using PayPal as a payment getaway. We go over the platforms that would allow you to use PayPal as a medium to get contracts. The article reviews their verification requirements, fees, regional availability. We also compare the PayPal with other payment options, such as bank wire transfers and credit cards.

Buying Contracts with PayPal

Unlike with credit cards and wire transfers, it is quite difficult to get contracts from cloud mining providers sing PayPal. Even regular exchanges do not offer the method as often as other two options. The reason for such development lies in the fact that PayPal does not allow transactions that involve the exchange of currencies. Since bitcoin and other cryptos are viewed as one, the platform would ban the accounts dung the transfer.

PayPal also charges relatively high fees of 2.9% + $0.3 for each transaction, making it quite expensive. Compared to credit cards (up to 1.9%) and bank transfers (1%), PayPal is the most costly option. That is why many platforms, cloud mining companies included, bypass the method, even though it is quite popular.

So, if there are no cloud mining providers accepting PayPal as a payment method, what should investors do? You can buy contracts indirectly, by purchasing bitcoins first using PayPal and then use them to get contracts. We go over several of the most popular options in the industry, them being LocalBitcoins, VirWox, and Paxful.

LocalBitcoins

LocalBitcoins is a peer-to-peer (P2P) platform that allows users to buy and sell bitcoins between each other. Acting as a single marketplace, you can work with bitcoins only in this website as other altcoins can be used only a medium for BTC payment.

If you are looking for a way to get Ethereum for cloud contracts, then LocalBitcoins should not be your choice. Bitcoin traders have 1% fee for escrow services, which we recommend wholeheartedly due to numerous scams reported in the past. Verification depends on your personal preferences, while the speed of transactions relies on seller’s adherence to trade agreement.

The service is available globally, with anyone able to set buy and sell ads, as seen in the snapshot below.

Buy Cloud Mining with PayPal LocalBitcoins buy and sell services

PayPal is a popular option to receive funds in several countries, USA especially. Thus, there is no lack of supply when it comes to PayPal option at LocalBitcoins.

VirWox

Apart from P2P marketplaces, you can also purchase coins with the help of PayPal in VirWox. The platform offers a private environment for transactions to take place since o verification demands are made. You can log in and trade using your password and username only, without the need to provide personal details.

However, VirWox has two distinct disadvantages when compared to rivals in the market. Firstly, it is not predominantly a place to get BTCs. They work Second Life Lindens (SLLs) for a virtual world called Second Life. You have to buy them first and then swap them with bitcoins. This roundabout method carries three transactions, with each carrying a fee of 3.5%.

Add to that PayPal expenses as well and you have a total of 14% of costs at the end of the day. The second issue is the lack of available cryptocurrencies, as you can get only bitcoins at VirWox. You might exchange SLLs but these are not available for cloud mining.

Paxful

Paxful is a crypto exchange platform that has many similarities with LocalBitcoins. The platform offers bitcoins only through many payment methods, PayPal included. Traders from around the globe buy and sell cryptos from each other, bypassing middleman in the process. The fee structure is similar to LocalBitcoins with the only difference being that 1% is paid by sellers only.

Verification demands are left to buyers and sellers to agree on thought the platform itself does not offer identity checks. For each trade, you might be required to provide a scanned copy of your ID. You can check these requirements by sifting through different ads, as seen below.

Buy Cloud Mining with PayPal Paxful ID requirements

Usually, a small amount of coins is available on individual ads while differences in price can vary greatly. PayPal is a popular option but also more costly than bank transfers for example.

Platforms that Accept PayPal

At this very moment, there are no cloud mining providers that offer PayPal as a method of program purchase. Well, those that are reliable anyway, as we would recommend only those platforms that have proven history.

Genesis Mining, Hashflare, and hashing24 all do not offer PayPal due to the large fees and lack of support by the payment system for cryptocurrencies. You need to undergo indirectly while using the PayPal, meaning more costs on your end. Credit cards and bank transfers are more present in the industry.

Step-by-Step Guide

In this guide, we provide you with step-by-step guide on how to purchase bitcoins using PayPal at Paxful platform. Registering an account at this website is usual business – it takes less than 5 minutes with only email needed for verification.

Then, login and select PayPal as a payment method as shown in picture below. Specify the amount and price of bitcoins you wish to purchase. Once done, click “Buy bitcoin now” to start the process.

Buy Cloud Mining with PayPal step-by-step

You will get a list of available offers in the market, with best deals listed at the top of the page. Select the ad that suits your needs in terms of BTC price and available volume for purchase.

You will get a list of available offers in the market, with best deals listed at the top of the page. Select the ad that suits your needs in terms of BTC price and available volume for purchase.

Buy Cloud Mining with PayPal buy now

In the case of PayPal, seller would then simply provide you with their PayPal account’s ID on which you should send money. Once done, make screenshot of the payment confirmation as a proof of purchase. Seller would then release bitcoins through escrow service provide by Paxful.

Conclusion

Overall, in this cloud mining PayPal review, we touched upon fees and platforms that accept the method of payment. We deem PayPal as the least favorable when compared to credit cards and bank transfers. Many sites that have been proven as scams use the method. Legit cloud mining platforms, on the other hand, avoid it due to its high fee structure.

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Lending as option to cloud mining

Lending as option to cloud mining

Lending as an option to Cloud Mining

Nov 30, 2017 • 14:42

Right now Genesis Mining and Hashflare are sold out on many of their cloud mining contracts. We will therefore go through crypto lending as an alternative way to get passive income.

There are many ways to earn cryptocurrencies nowadays, lending being one of the most popular choices. Thus, in this quick review, we will show you how use lending as option to cloud mining. We go over what crypto lending is and how it can substitute cloud mining.

We provide important indicators on what platform to choose, them being the security of the company, its liquidity, and interest rates. We also investigate several websites on which you can start lending operations, as well as their pros and cons.

The platforms we go over are Bitfinex, Quione, Poloniex, Bitbond, SALT, Unchained Capital, and EthLend. We conclude with the best platform in terms of volume, interest rates, and security.

What is Crypto Lending?

Before we start, there are several important factors that make lending similar and yet very different from cloud mining. Lending at the crypto industry is much the same as with fiat money markets. You have coins which you do not need at the moment and there are people who need them right now.

Reasons can vary, them being needed for larger trading power, margin trading, leveraging, consistent supply for exchanges and other. As you can see, both individuals and businesses both use lending as a mean of acquiring additional volumes needed for their operations.

It is similar to cloud mining, as you are paid interest, with very similar rates as cloud mining payouts. Unlike with mining difficulty, interest rates depend on market trends and what you are willing to accept. You also get to choose the period on which coins are borrowed, as well as their future value. Thus, lending contracts are made, to ensure all parties are satisfied with the lending terms.

Bitfinex

Bitfinex is one of the largest UD to BTC trade centers in the world. Its daily volume in circulation stands over $500 million in worth, meaning it has very deep liquidity. And with liquidity, the lending market grows. The lending market at Bitfinex is called “Funding”, where you can provide and/or borrow 17 cryptocurrencies, BTC included, and 2 fiats, EUR, and USD.

Lending as option to cloud mining bitfinex screen shot

At Bitfinex, you get to choose your own daily interest rate, volume and time you wish to borrow out coins. We suggest using market values since you are dealing with peer-to-peer (P2P) market, where bets offers get accepted the fastest. The cost of participating in the market stands at 15% of the interest earned. For full review of Bitfinex we recommend our other platform Cryptocoinzone.

Quione

Quione is one of the leading Japanese cryptocurrency blockchain platforms, with headquarters based in Tokyo. The company offers several services, them being exchange and lending markets. The latter supports bitcoins only, together with all fiat currencies with JPY being the exception due to regulations. Much like Bitfinex, the lending market is P2P oriented, where traders provide liquidity for other users.

You decide on interest rates, a period of the loan and currency used, leaving free space for you to participate. Fees stand at 50% of the interest earned at Quione.

Poloniex

Poloniex is an American platform, found by Tristan D’Agosta in 2014, with headquarters based in Wilmington, Delaware. The platform offers exchange and lending markets. The loan marketplace offers 12 cryptocurrencies, organized into the P2P market, where investors borrow and provide liquidity for each other.

Lending as option to cloud mining poloniex screen shot

Poloniex is an American platform, found by Tristan D’Agosta in 2014, with headquarters based in Wilmington, Delaware. The platform offers exchange and lending markets. The loan marketplace offers 12 cryptocurrencies, organized into the P2P market, where investors borrow and provide liquidity for each other. For full review of Poloniex we recommend our other platform Cryptocoinzone.

Bitbond

The platform bases its operations in Berlin, Germany, and orients towards lending market solely. Bitbond offers a marketplace for small businesses to borrow and lend cryptocurrencies, with daily volume surpassing $8 million. As a lender, you can provide liquidity expressed in bitcoins only and you get to choose borrowers. Lenders watch different ads from borrows and decide on which offer to take up.

This means, you do no get to choose a date and interest rate as borrower chooses to do so. Fees stand at 50% of the interest rate earned. For full review of Bitbond we recommend our other platform Cryptocoinzone.

Salt

The SALT lending project was conceived in 2016, with ICO going through in 2017. In 2018, the company finally opened its operations, providing a marketplace for lenders and borrowers to work. Like Bitbond, it is primarily and lending market where borrowers have to purchase rights to participate. Although you pay for membership, the platform is still P2P-based and SALT is only a marketplace for bitcoins.

Apart from membership costs, there are no other costs associated with the lending market at this time. You get to choose the period, interest rate and amount of the loan to take place. At this point, only US citizens can purchase a membership and get loans through the platform.

Unchained Capital

The platform established its operations in 2016 (a year in beta till late 2017) with headquarters located in Austin, Texas. Unchained capital is a little bit different from other platforms represented by this guide. At its platform, you provide coins for their use and receive cash as a loan. That means you can participate at Unchained Capital as borrower only, with the company being the lender.

There are two types of loans, one being personal and another business loan, although they both carry same conditions. Their usage is different, as you apply for the program, you simply state reasons why you need the aid loan. You then provide coins for an interest rate that can range from 12% to 18% for a period you choose and you have a contract.

ETHLend

Based in Estonia, ETHLend is closer to Bitbond and SALT, as it is a P2P lending platform where users work with each other. The lending process is secured and carried out through smart contracts using Ethereum and LEND coins. Using reputation score, each account has a history for borrowers/lenders to inspect.

Thus, security through smart contracts guarantees safe environment through ETH system. The funding request carries a fee of 0.01 ETH while all other activities do not have any costs.

Conclusion

In this guide about lending as option to cloud mining, we went over several platforms for you. There are numerous services out there when it comes to crypto lending, with exchanges and lending sites both being present. If you wish to trade and lend at the same time, Bitfinex and Poloniex are good choices. However, do take care as both were hacked in the past.

For pure lending sites, if you wish to concentrate your assets there, Bitbond, SALT, and ETHland all work the same. P2P platforms can be the best way to work around when it comes to low costs.

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Is Cloud Mining Profitable?

Is cloud mining profitable

Is Cloud Mining Profitable?

Nov 30, 2017 • 14:42

How is Cloud Mining Profitable for both sellers and buyers?

In this article we will answer the question if cloud mining is profitable. If cloud is profitable, how can it be that for both the sellers and buyers?

Cloud mining generally refers to the process of ‘mining’ cryptocurrencies by utilizing a remote data center with a shared processing power. This whole endeavor is profitable for both the customer and the provider. As a customer, you get to earn bitcoins without the hassle of having to buy and maintain mining hardware, software and bandwidth. This also means no excess heat to endure, no electricity costs, and no dealing with suppliers who fail to deliver in good time.

Cloud mining providers, on the other hand, benefit in the sense that they charge a fee for the service they provide. A transparent, reliable and easy-to-use platform can build trust easily and attract many customers. This means that trustworthy providers have a chance of having a huge customer base and profit greatly. Many people ask themselves why cloud mining companies sell their mining equipment instead of mining instead. The answer is that they want to scale fast and need secure money to buy new equipment that they can sell. Cloud mining is a stable income which a company needs with employees. Their business idea is to run mining equipment for others and not do the risky mining business themselves. They let the customers take a higher risk but also with a potential to get a greater return on investment. We recommend Genesis Mining, Hashflare, and ViaBTC. Read about them more in our reviews and get a discount code on the main page.

How much is the Cloud Mining Fee?

The price range of cloud mining is quite broad. Prices of most bitcoin cloud mining contracts are around $150. However, you must also compare the contract length and the cloud mining fee. While some cloud mining providers charge bigger contracts just like smaller contracts, there are those providers that offer better unit prices in cases where more hashing power is purchased. You should note that a higher price doesn’t necessarily equate to a better cloud mining service. Therefore, it’s important to assess the services provided thoroughly, not just the prices.

For bitcoin cloud mining prices and discount codes from out top rated cloud mining providers, visit main page.

What are the Cloud Mining Fees?

You are required to pay an upfront fee, which is usually for the hardware equipment. Then there’s the maintenance fee, which you have to pay so that the cloud mining provider can run the equipment for you. There are those providers who include electricity fee in the maintenance fee, and there are those that charge this fee separately. Current maintenance fee for Genesis Mining is 0.00028 USD per GH/s per day. Hashflare charge 0.00035 USD per GH/s per day.

What Return can I as a User Expect from a Cloud Mining Contract?

It’s not always possible to predict the outcome, but cloud miners try to be as transparent as possible, going as far as publishing the payouts from their own contracts. Additionally, providers work out the number of days it would take to break even if you bought the same contract on that particular day. Nevertheless, you must consider that the payouts will probably decline over time since the mining probably increases. Without a doubt, cloud mining is not only a fun way to obtain cryptocurrencies, but it’s also a great way to earn some extra income. Read our cloud mining calculation page to find out more about returns.

Conclusion

The cloud mining process is quite technical in nature, making it a difficult endeavor to partake in, especially if you are a new investor. The good thing is that cloud mining providers are to simplify the whole process for you. Once you sign a cloud mining contract, the provider will ease your decision making by providing you with comprehensive guides on their services. This will give you an opportunity to earn without having to experience the hassles and bustles involved in the mining process.

We have discount codes for Genesis Mining and Hashflare at Allcloudminers.

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Cloud Mining Risks

Cloud Mining Risks

Cloud Mining Risks

Nov 30, 2017 • 14:42

Cloud Mining Risks as cloud mining scams, price volatility, terms of contracts and mining difficulty.

Cloud Mining Risks


Bitcoin has not only been a trendsetter, but it is still the de factor standard for cryptocurrencies. Of all the cryptocurrencies available today, Bitcoin continues to lead. Bitcoin still has the greatest popularity, user base and market capitalization. All Bitcoin transactions must be authenticated by miners in a process referred to as ‘mining’. Unlike with traditional mining, cloud mining allows users to buy mining power of hardware placed in remote data centers, instead of using their own machines. This allows all Bitcoin mining to be carried-out in the cloud, eliminating all offline hassles that come with installation, upkeep, and hosting.

Even so, there are some risks involved with Bitcoin cloud mining, just like it is with other types of investments. Here are the major cloud mining risks that every user must be aware of. The risks apply to Ethereum cloud miningScrypt cloud miningDash cloud miningZcash cloud mining and Monero cloud mining as well.

Cloud Mining Scams


The vast majority of cloud mining services available online are actually scams. Most scammers use a fraudulent investment operation known as ‘Ponzi scheme’, whereby old investors get paid with funds made by new investors. Not only does cloud mining provide an easy way for fraudulent entities to transfer money with limited ability to trace them, but it also limits the users’ ability to reserve those transactions. We evaluate each cloud mining company before we list them in terms of history, reliability, transparency, customer ratings, forum ratings, our own experience and our own payout charts. We have had best experience with Genesis MiningHashflare and ViaBTC. Example of large scams are Hashocean, Biteminer, CLDmine and there is a complete list on our cloud miningpage.

Bitcoin price is volatile


The cryptocurrency market is quite volatile, where the market capitalization of a Bitcoin can be divided or multiplied by a factor of 2 in a few days. This means that the value of your Bitcoins can increase or decrease significantly in a matter of a few hours. When the Bitcoin value plunges too much, the cloud mining equipment can run out of profitability, forcing the company to shut it down. This translates to an investment loss to a user. We did experience this ourselves with Mining Sweden and Zeusminer.

Mining contracts can change


We have seen cloud mining contracts changed the terms during the course of a contract. This is a potential risk among all cloud mining risks. Even though cloud mining contracts rarely undergo frequent changes or modifications, it doesn’t necessarily mean that changes can’t occur. Once they do, it can be extremely damaging. Hashflare did this in September 2017 when they changed their Bitcoin cloud mining contracts from lite-time contracts into 1-year contracts. Hashflare even changed already sold cloud mining contracts. Genesis Mining did at the same time claimed that they would never do such a thing as to their customers.

Variation of mining difficulty


Another risk, among all cloud mining risks, is the mining difficulty that will greatly vary depending on the number of miners that join and or leave the network. This can can a negative impact on the payouts. It can make it difficult for user to predict or evaluate the profitability of the return on their cloud mining investment.

Just like with other online investments, investing in cloud mining is a pretty risky operation. To minimize the risks, it’s imperative for you to understand all the terms of your cloud mining contract before signing it. Be sure to check the flexibility of the contract and verify beforehand. For example, Genesis Mining let you the liberty to switch between different cryptocurrencies. Most cloud mining companies display electricity and management costs on their pricing page. Take them into account when you compare contracts.

Minimize Risk


You can read more about how to minimize risk and general cloud mining tips in our cloud miningpage.

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Genesis Mining Allocation

Genesis Mining Allocation

Genesis Mining Allocation

Nov 30, 2017 • 14:42

Genesis Mining Allocation


You can´t mine all coins with same equipment but with Genesis Mining you will have the option for mining allocation within a hashing algorithm. To understand what this means we will explain what a hashing algorithm is. After this, we will describe what Genesis Mining auto allocation is and how you can use this to your advantage.

Genesis Mining Algorithms


Gensis Mining gives you the opportunity to cloud mine different cryptocurrency algorithms. Within each cryptocurrency algorithm, you can also mine different cryptocurrencies. See which cryptocurrency you can mine with each algorithm. With this option its possible to do Zetacoin, DOGE and Startcoin cloud mining.

SHA 256 Algorithm (BTC and ZET)

Scrypt Algorithm (LTC and DOGE)

X11 (Dash and Start)

Cryptonight (Monero)

Equihash (Zcash)

Eth Hash (Ether)

What is Genesis Mining Auto Allocation?


The other coins that were not mentioned in the previous section are marked with AUTO. These coins are not mined directly. In other words, payouts will be traded automatically from the mined coins to the AUTO ones at the exchange rate of the day. An example is if you select Mining Allocation and then go to Ethash. Within Ethash, select REP(AUTO). This means that you will mine Ether but they will be traded instantly to REP and you receive payouts in REP.

How to use Cloud Mining Allocation?


In your login area, you have the option to select “Mining Allocation” in the menu to the left. Here you select which mining algorithm (SHA 256, Scrypt, X11, Cryptonight, Equihahs, Ethash) you want to allocate. You must first buy hash power to enable this feature. You can always go to Coinwarz to see which cryptocurrency is most profitable to mine at any moment.

Go to Genesis Mining

Genesis Mining Review

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Best Zcash Cloud Mining 2017

Best Zcash Cloud Mining 2017

Best Zcash Cloud Mining

Nov 30, 2017 • 14:42

Best Zcash Cloud Mining 2017


We will announce the best Zcash cloud mining contract 2017 in this article. We have over 3 years of experience in the cloud mining business from the investor side. We have experienced all different types of cloud mining business. We have followed Zcash cloud mining since it was launched in October 2016 from Genesis Mining. Hashflare also launched Zcash cloud mining contracts a few weeks after.

Zcash


Zcash (ZEC) is cryptocurrency based on a decentralized blockchain just like Bitcoin. However, it differs from Bitcoin since it allows for anonymity behind transaction amounts and parties involved. Zcash is based on proof of construction algorithm to secure the network.By doing this, Zcash allows the network to maintain a secure ledger of balances without disclosing parties or amounts involved in transactions. Anonymity is the main advantage of Zcash. The famous whistleblower Edward Snowden about Zcash: Zcash Is ‘Most Interesting Bitcoin Alternative’

Zcash Cloud Mining ROI


We have followed Zcash cloud since its launched and the ROI has never looked better than now. Especially at Genesis Mining since they recently changed the terms of the contract from 1 year to 2 years contract.

Genesis Mining Zcash


Genesis Mining offers 2 years Z cash cloud mining contracts. There is no maintenance fee on the contracts. Use discount code “allcloud” to get 3% off.

Price: $1.92 per H/s

Break-even days 2017-10-01: 460 days (Full calculations at front page)

Read Genesis Mining Review

Go to Genesis Mining

Hashflare Zcash


Hashflare offers 1-year Zcash cloud mining contracts. There is no maintenance fee on the contracts. We have a discount code available at our front page which will give you a 4% discount.

Price: $2 per H/s

Break-even days 2017-10-01: 485 days (Full calculations at front page)

Read Hashflare Review

Go to Hashflare

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Cloud Mining Calculator October 2017

Cloud Mining Claculator October 2017

Cloud Mining Calculator 2017

Nov 30, 2017 • 14:42

Cloud Mining Calculator October 2017


A cloud mining calculator for October 2017 is presented. All available contracts from Genesis Mining and Hashflare are included. Those include Bitcoin, Dash, Ethereum, Litecoin, Zcash and Monero cloud mining contracts. The current best available cloud mining contract is Hashflare Bitcoin SHA256 1year cloud mining contracts. The overall best cloud mining contract is Genesis Mining Bitcoin SHA 256 cloud mining contract. However, those are out of stock. Zcash and Monero 2 years contract are the best current contracts that also are available at Genesis Mining. Go to Genesis Mining and buy some cloud mining contracts or read or Genesis Mining review.

Bitcoin Best Cloud Mining October 2017


As stated above, Bitcoin is the best current cloud mining contract. Genesis Mining has the longest lifetime, best price (actually same as Hashflare), lowest maintenance fee and the highest payout. Go to Hashflare and but Bitcoin cloud mining contracts or read our Hashflare review and find a 4% discount code.

Litecoin Cloud Mining Oct 2017


Litecoin, or Scrypt, has the second shortest break-even time after Bitcoin. However, at Genesis Mining those contracts are out of stock and at Hashflare they only run for 1 year. Therefore, those contracts should be compared to Genesis Mining Zcash and Monero cloud mining contracts that also has a decent break-even time and run for 2 years. Read more below.

Zcash and Monero cloud mining Oct 2017


Both Zcash and Monero(Genesis Mining) cloud mining contract runs for 2 years and has a current break-even time of around 460 days.

Genesis Mining vs Hashflare


All Hashflare contracts is running for only 1 year. Genesis Mining cloud mining contracts are 2 years but for Bitcoin is the contract running as long as profitable, also called lifetime contract.

Go to Genesis Mining

Genesis Mining Review

Go to Hashflare

Hashflare Review

All Calculations in PDF


Here you find all calculations for Cloud Mining Calculator October 2017.

Cloud mining calculator October 2017

Read more about cloud mining calculations on our cloud mining calculation 2017 page.

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Best Bitcoin Cloud Mining 2017

Best Bitcoin Cloud Mining 2017
Best Bitcoin Cloud Mining 2017

Best Bitcoin Cloud Mining 2017

Nov 30, 2017 • 14:42

Best Bitcoin Cloud Mining 2017


We have tested all cloud mining companies during 2017 and will announce the best one. We have tried to choose only legit cloud mining companies. The main focus will be payouts per contract and contract length. In addition, we will take into account customer support, the number of unexpected problems, changes in terms of the contracts, transparency and so on. Of course, there are two major companies in the cloud mining business Genesis Mining and Hashflare. ViaBTC is out of stock on cloud mining contracts. Many cloud mining operators have increased the hardware price a lot during 2017. See all our cloud mining calculations in PDF format on the front page.

  1. Genesis Mining

    Genesis Mining definitely has the number one position as the best Bitcoin cloud mining 2017. The Bitcoin cloud mining contracts are lifetime and the break-even time during 2017 has been around 150-250 days. Genesis Mining has also kept the transparency of the company. They experienced some delays in a few payouts, that´s all. While other companies changed their terms and got out of stock, Genesis Mining arranged a preorder sale. Read more about Genesis Mining in our Genesis Mining review or go direct to Genesis Mining and buy some contracts. Don´t forget to use our discount code “allcloud” which will give you 3% discount.

  2. Hashflare

    Hashflare has had incredibly good payouts on their Bitcoin cloud mining contracts during 2017. Since they were so good Hashflare run out of stock in late August. Because of this, Hashflare changes the terms of the contracts from lifetime to a 1-year contract and doubled the price. However, they did later reduce the price. Hashflare is a top player in the cloud mining industry and they are a part of the ASIC manufacturer Hashcoins. Read more about Hashflare in our Hashflare review or go directly to Hashflare and buy some contracts. Use our promo code you find on the first page for 4% discount.

  3. ViaBTC

    ViaBTC had a really good ROI in the beginning of 2017 on their Bitcoin cloud mining contracts. However, they got out of stock of cloud mining contract quite early and have never launched any new ones. Read our ViaBTC Review.

  4. Hashing24

    Hashing24 have had a decent ROI throughout 2017. However, they did also run out of contracts. Anyway, they did relaunch the contracts a bit more expensive than earlier. Now they have contracts for sale. Read our Hashing24 review or go directly to Hashing24 to buy some contracts. Don´t forget the discount code on the front page.

  5. Hashnest

    Hashnest has an open market the price changes all the time. They also have fixed price contracts which are limited in risk but also limited in return on investment. Read our Hashnest review or go direct to Hashnest to buy some contracts.

  6. Eobot

    Eobot has always had a very high price on contracts low payouts. They are barely worth mentioning. Read our Eobot review or go directly to Eobot.

Other services


Nicehash and MiningRigRentals were not included in this ranking. We are planning a big review update on Nicehash since they have launched a completely new website. We have not even managed to login to MiningRigRentals for a while so we will wait with this company.

© Copyright Allcloudminers   | [email protected]

Buy Cloud Mining Bank Wire

Buy Cloud Mining Bank Wire
Buy Cloud Mining Bank Wire

Buy Cloud Mining Bank Wire

Nov 30, 2017 • 14:42

In this cloud mining bank wire review, we investigate available platforms that accept bank wire transfers. We also analyze fees, the speed of transaction, security issues, and privacy features provided by exchanges where you can use a bank account to get BTC. We also provide a step-by-step guidance on how to buy contracts using bank transfers at Hashing24. If you are interested of buying cloud mining with other payment methods, see Buy Cloud Mining PayPal or Cloud Mining Credit Card.

Bank Wire Transfers

If we are talking about the most popular method of purchase, one might say that credit cards come in the first place. Bank wires, however, are a close second, but in terms of crypto exchange platforms, it definitely beats the competition. On the other hand, rare are cloud mining companies that indulge in this option due to its slowness.

Bank transfers can take between two to even 7 business days to complete. Banks take security and AML policies quite seriously. Due to various checks from multiple participants in the transfer, account transfers take a long time to complete. On the other hand, bank transfers are the cheapest option out there in the industry. In some cases, it is completely free to deposit funds using wires.

Indirect Providers

As mentioned before, most cloud mining providers do not accept bank wires as methods of payment. Only Hashing24 does, alongside with credit cards. Others use either cryptocurrencies only or bank cards. Thus, we made a review on several exchanges form which you can get coins through bank wires. In this article, you will read about Coinbase, CEX.IO, and Bitstamp.

Coinbase

Coinbase is one of the largest USD to BTC trade centers in the world, even though it has limited service globally. Only 32 countries are supported, with new ones not added for some time now. Apart from credit cards, you can also purchase cryptos using bank transfer.

The method is free to use when purchasing bitcoins since deposits made through SEPA and Wire transfers do not carry costs. ACH and American bank payments have 1.49% fees and verification of your identity is a must.

At Coinbase, you can get bitcoins, Ethereum, Bitcoin Cash and Litecoin for your cloud mining operations. Withdrawing cryptos to external wallet accompanies only miner fees, which change on day-to-day basis.

CEX.IO

Whereas Coinbase is limited in countries it supports, CEX.IO is a different story. The platform is available from almost anyone around the globe through credit cards and bank wire transfers. Moreover, it supports USD, EUR, GBP and RUB payments, providing more verity in terms of fiats.

Privacy is low since you need to provide scanned ID and utility bill. Wire transfers work for all currencies with the exception of RUB and are free of charge. CEX.IO also offers a greater number of cryptos than Coinbase and Bitstamp, as shown in the picture below.

buy cloud mining bankwire cex.io

Bitstamp

Bitstamp is a UK-based online exchange where you can get several cryptocurrencies using USD and EUR. Coins that are available for you on this platform are bitcoin, Ripple, Litecoin, Ethereum and Bitcoin Cash. The bank transfer is available for both fiats, either through SEPA if you are using Euros or international wire transfer for USD.

You have to complete verification process should you wish to fund your trade operations with EUR or USD. International wire transfers carry a fee of 0.09% with the minimum being $15. SEPA transfers are free of charge.

Direct Bank Transfer Contracting: How to do It?

At this point, only Hashing24 offers the service of wire transfer when buying their contracts. Others use either credit cards or cryptocurrencies when purchasing hash power. Withdrawals are not possible when your bank account is in question but you can sell coins in any of the above-mentioned exchanges.

You do need to pass through KYC and AML process by verifying your identity with scanned ID if you plan to make a large purchase. This step can last up to an hour or a day, depending on the traffic and only in case you are asked directly by the customer support.

Unlike credit cards, bank wire transfers do not carry any additional costs apart from what you pay for hash power. Both USD and EUR currencies are available for wires.

Purchase Process

To start, register your account and then verify your email address. Since you are planning to use your bank account, it would be adequate to protect your account by adding two-factor authentication (2FA) as a measure of safety. You access your security settings by clicking “My Account” and then “Security” as seen below.

buy cloud mining bankwire hashing24 2 step verification

Next in line is the purchase itself. Click “New Contract” and specify the amount of hash power you want and the fiat currency you wish to use to buy hash. Once ready, click “Buy” to proceed.

You will be redirected to the purchase page, where you review your order once again. Click “Next Step” as to proceed toward payment methods window.

buy cloud mining bankwire hashing24 bank transfer

Choose “Bank Transfer” and check the trade agreement before proceeding towards next step.

buy cloud mining bankwire hashing24 account details

IIn the last page, you will get the information regarding the Hashing24’s bank account details that you should use when transferring money. Head over to your bank or use online banking service to make payment. Once you have made the said purchase, keep the receipt that you have received and scan it. You need to upload the picture as a proof of payment in order to get hash power.

buy cloud mining bankwire hashing24 payment details

As soon as the relevant figure form sales team checks your document, your contract will start automatically. It usually takes up to 24 hours for someone to check your payment status.

Conclusion

In this cloud mining bank wire article, we went over the method’s ability to turn hash power into a profitable business. The option is not popular with cloud mining providers but the abundance of exchanges accepts the payment channel. Thus, it is possible to buy cryptocurrencies first using bank account and then use them to buy cloud mining contracts.

Credit cards are popular but also come with a lot higher fees, as wire transfers are conducted for free in most cases.

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Recognize a cloud mining scam

Recognize a cloud mining scam
Recognize a cloud mining scam

Recognize a cloud mining scam

Nov 30, 2017 • 14:42

Recognize a cloud mining scam


There are a few things that are common for almost all cloud mining scams or HYIP (High yield investment program) or Ponzi Schemes. We will try to explain how you can recognize a scam and avoid to invest in them. We, ourselves, invested in many different scams and Ponzi schemes in 2013-2015. All these scams are listed on our front page. However, now we will present what was common in all these cases.

  • Guarantee profit
  • Very high profit compare to other cloud mining
  • Free cloud mining (especially at first purchase)
  • Fast support but not professional
  • No evidence of equipment
  • Bad looking website
  • Not listed at any review sites

Guarantee profit


There is no real cloud mining company that guarantees a profit. This is an easy way to recognize a scam since there is actually not a single company that can guarantee a profit from any investment. Don´t invest in any company that guarantees a profit, especially not a company that guarantees a daily profit of 0.1-1%.

Very high profit


Always invest a small amount and check that everything is working as expected. Control that you receive payouts before you invest anymore. Calculate your daily profit and compare to other cloud mining companies. If the payouts are double or triple compare to any other company it´s probably a Ponzi Scheme or a scam.

Free cloud mining


All companies that have offered any type of free cloud mining has turned out to be non-profitable or Ponzi Schemes. Be careful with companies that offer free cloud mining. We have discount codes which are a bit different.

Fast support


All cloud mining scams we have invested in has actually had a very fast support. However, they are not very professional. Ask some technical questions about their cloud mining equipment and see what they answer. Also, check what kind of email they use, some even use a Gmail account. Most legit companies have a professional look at their emails with a company address and a title on the person who sends the email.

No evidence of equipment


No cloud mining scam has ever proved they have the real equipment. Check if there are any videos or photos from their cloud mining farm. Of course, this is very easy to make by Photoshop (As Bitcoin cloud mining services did). However, such work takes time and it´s not for sure a scam will offer such a time.Bad looking homepage

Bad looking website


A cloud mining scam doesn´t spend much money on a homepage. All they want to do is to launch a decent website where they can accept payments. Check if they have to spend a lot of money to make an expensive and trustful website.

Review Sites


Check other review sites and forums to see what other people think of the suspect cloud mining company before you invest.

Summary


Don´t trust a single indicator to 100%. For example, there is legit cloud mining site that doesn´t have videos or pictures from their farms. There might be legit cloud mining companies that offer free cloud mining in the future. Also, some review sites actually list scams because they give good affiliate commission. Remember, start small and grow your investments by time.

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