Cloudminer: Is there any free cloud mining?
Cloudminer: Is there any free cloud mining?
The profession of the cloudminer has been quite popular lately. And it’s related to the great popularity of the crypto market and its lucrativity. It’s a fresh new profession that computer professionals can exercise. Is cloud mining profitable? Surely it is. Otherwise, there won’t be much interest in cloud mining apps and cloud mining services. The interest in cloud mining services is growing along with the growing crypto market.
Cloudminer and cloud mining – what is it?
Whether in the trade press or not, everyone has heard of cloud services. Seemingly magical term, actually it only refers to someone else’s computer. As a result, cloud mining is nothing more than mining cryptocurrency with someone else’s computer. The most mined cryptocurrency thanks to cloud mining is Bitcoin, of course!
But what is a cloudminer? How does it work? Does cloud mining bring anything positive? And above all, does it bring in money?
Operating principles of cloudminer
Cloud mining is straightforward: rather than doing all of this work on their own, people pay a company to mine for them. In exchange, they get the crypto-assets produced by the mining. So this is a classic case of renting a thing. In this case, it’s computing power.
The logic to follow is the same as for classic mining, with an investment to be made and potential gains once the process is completed. There is no hardware to manage, no monitoring to make sure everything is running smoothly…
Because all of this is done by the company, and therefore billed to the customer, generally with small amounts withdrawn each day, reaching huge sums at the end of the year, which reduces the operation’s profitability.
In theory, the transaction’s result can be less profitable for the customer.
Free cloud mining providers versus paid providers
A cloud mining service provider allows you to invest funds in a mining operation.
The money you invest is earmarked for specific parts of the transaction, allowing you to get rewards for participating. The more you invest, the more you are rewarded.
The platform takes care of the drudgery of sorts, benefiting from established mining farms that are ready to go. These vendors need funding to pay for maintenance and other operational costs.
While you read this, you might be asking yourself, “is cloud mining really free?” It is true that many mining vendors charge upfront fees or subscriptions for you to participate in their activities.
While this may seem like a bad deal at first, it represents the possibility of getting more rewards faster. Free cloud mining services are available for you who don’t have the funds to invest.
Some of these free services provide you with the initial funds to get started.
By laying the foundation for your cloud mining operation, these funds provide a great starting point that you can supplement, reinvest, and earn more over time. These platforms usually also offer you options to invest and increase your earning potential. The final decision is up to you, of course.
Free cloud mining sites
For all the future cloudminers, here is a list of free cloud mining service providers. Some are free, and some also have premium options. You can get started without any investment. Take a sneak peek at each option and see which one works best for your financial situation.
1. Stormgain (free option)
StormGain offers free cloud mining apps for your Android or iOS device.
No equipment is needed, and the website says the service doesn’t even drain your battery or use any CPU. As proof of trust, the platform claims to be a member of the Financial Commission blockchain association. This verifies that the group is legitimate.
It takes four hours to get a reward from mining. You can withdraw the rewards when they exceed 10 USDT in Bitcoin.
From there, just click on the cashout button, and the assets will appear in your mining account within 72 hours. And it will be credited as a trading bonus.
You can benefit from faster mining speeds depending on your trading volume. So the higher it is, the faster you can mine, which creates a loop that constantly stimulates the second factor.
Benefits of Stormgain:
- Free cloud mining app
- Does not discharge your battery or central unit
- A company that seems legitimate
Disadvantages of Stormgain:
- Can only speed up mining with a high volume of transactions
- A high reward threshold
Freemining.co (free and premium offers)
It offers Tiers starting at 0.002 BTC and going up to 0.35 BTC. Also, there is a free tier, but it doesn’t provide much and requires you to meet a minimum threshold first to be able to withdraw.
The platform does offer instant mining and withdrawals after confirmed payment. It also tells you all the fees before you invest, so there are no hidden transaction fees. You can also earn up to five affiliations.
Interestingly, Freemining.co has a “game of chance” where you can spin “a wheel” to earn small amounts of BTC.
These rewards can then be used for your mining payments, allowing you to earn more in the long run. However, you cannot change the address of your bitcoin deposit for some reason after signing up. If you end up changing your wallet, you will need to keep this one.
Benefits of Freemining.co:
- A free level for testing. “Lucky Game” game of chance to win free bitcoins
- Instant withdrawals
- Transparent fees
Cons of Freemining.co:
- The free tier isn’t great after a while
- Lots of negative reviews from former customers
3. Bitland.pro (free and premium offers)
Bitland.pro offers you a bonus worth 1 USD when you register. For that, you need an email address and a password.
Then you need to click on the start button of your favorite cryptocurrency, with the options Bitcoin, Dogecoin, Litecoin, Tron, and Tether. You can add funds to the platform to get faster rewards if you want.
Bitland enables you to withdraw funds every 15 minutes and can offer bonuses if you mine between 5 and 50 GH / s of hashrate.
The platform allows a minimum deposit of only 0.1 USD. It also offers instant messaging services for support and referral bonuses.
This cloud mining service also offers several subscription levels, ranging from $ 1 to $ 450. The higher you subscribe, the more bonuses you will receive.
Benefits of Bitland.pro:
- Supports multiple cryptocurrencies
- A correct free level
- Several levels possible for additional rewards
Is free cloud mining reliable?
Yes, although there are a lot of scam sites. Make sure you do your research and don’t donate money to Ponzi schemes and other questionable platforms. See what other users have to say about a service, and double-check everything before making an investment decision.
How to earn 1 BTC for free?
By signing up for a free cloud mining service, it is possible to get 1 full BTC for free. The time it takes to earn it will depend on the service’s hardware, the hash rate it offers you, and how difficult it is to mine BTC at that time.
Cloud mining returns – Is cloud mining profitable?
Cloud mining in practice, is it profitable? On average, it can amount to approximately $3.4 – $8 daily or to $100 – $200 monthly.
The existing cloud mining companies all offer more or less the same scheme: a reasonably high base investment paid in advance and used to finance a contract for several years.
The specifics change depending on the company: duration of contracts, prices, clauses relating to sudden price reductions, etc. It is extremely difficult, if not impossible, to compare all cloud mining companies.
Many companies have ended up being sued in any country or have simply disappeared. Others have used clauses allowing them to unilaterally suspend the service, such as Hashflare in 2018, leaving users in the dark and in deficit.
It should also be noted that almost all cloud mining companies are established in inaccessible foreign countries or opaque tax havens, from which they are entirely untouchable. Local law usually allows them to act as they wish without offering any guarantees to the customer… When these companies are not simply illegal and underground.
Furthermore, when these contracts are compared to the investments made by amateur cloudminer, we see that the latter are much more profitable if they are done well. Not only is the breakeven point reached faster, but in addition, the equipment remains in the hands of the cloudminer, who can choose to resell it to mitigate losses if necessary. Since cloud mining contracts are neither salable nor bought by the issuing companies, they have no advantage over a good old homemade mining platform.
And the worst part of all of this is that mining contracts do not consider changing hash rates, which keep going up. Therefore, the real long-term profitability is even lower than what is announced, the latter already not famous. Many users paid the price and found that buying crypto and keeping it for the long term was immensely more profitable than a cloud mining contract.
Cloudminer: Conclusion
You are now a little more informed about free cloud mining and some free services.
These options are one of the only ways to get started in free bitcoin mining with no investment. Otherwise, most methods will cost you dearly if you don’t already have a powerful PC to start with. Good luck, and be careful. Don’t fall for the scam!
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