Bitdeer is the cloud mining machine sharing platform of Bitmain, a company founded in 2013 and headquartered in Beijing-China. Bitmain manufactures Bitcoin mining hardware under the brand name Antminer and pioneered the creation of specialized chips called ASICs. The company also operates the largest cryptocurrency mining pools worldwide, Antpool and BTC.com.
At Bitdeer all the hassles of purchasing and maintaining your own mining machine is taken off you. Purchasing a contract allows you mine digital currencies and earn revenue.
It should take about 5 mins to sign up for an account on BitDeer.com. Upon hitting the signup button you’ll get redirected to utilize the Bitmain login service from which you’ll follow a 4-stage account opening process.
You’ll be required to enter your email address, and input your preferred password as shown on the image below.
The second Stage requires you to verify your email address by clicking on the link send to your email.
This stage requires you to link your phone number before you login. An SMS code will be sent to your phone number for you to input it into the required field.
Upon completing the registration process, you will be required to visit the security center to review your settings. From this point, you can visit the login page and enter your login details to access your dashboard as shown below.
Once logged in, you get to view your dashboard where you get insights on your total computing power, Total revenue, Revenue by date and Pool Allocation among other stats. At the left panel, you can perform functions such as purchase computing power, View your orders, Referrals, settings and customer service.
We extract data from our own contracts to calculate Bitdeer profitability. As you can see in the dashboard above.
We bought 10 TH/s for $66.
We have received about $1.32 after 2 days = $0.66 per day
The contract will run for 121 days. This brings us 121*0.66 = $79,86 (21% Return on investment on 4 months)
However, there are some limitations in the calculations as you know if you are familiar with cloud mining or bitcoin mining. The calculations are done with a static electricity price, coin price and mining difficulty.
You’ll also observe that the increase in mining difficulty lasts from January to October 2018. The network started showing a reduction in difficulty around November to end of December an indication that miners suffered huge loss throughout 2018 considering the price decline
At Bitdeer, your mined crypto is automatically delivered on a daily basis directly to your digital wallet.
There are many stories and rumors about cloud mining schemes going around and such schemes totally exist.
However, if you do the required research, make sure you read other people’s reviews like you are right now. You may eventually come across reputable companies that offer cloud mining services at okay prices.
You may also want to consider some of the points we mentioned in this review in order to make a decent revenue from cloud mining at a reasonable overhead. Endeavor to time Bitcoin price reversals here on our website as increasing your hash rate in a falling market may be suicidal.