Best Monero Cloud Mining
Monero formerly known as “BitMonero“ has been around since 2014 and just like Dash, transactions are encrypted. Meaning that every transaction is not transparent compared to other crypto currency that exists today. Monero is based on the CryptoNote protocol in which you can read more about here. In 2016, Monero raced through the charts and reached a market cap of 600 Million US Dollars, making it the 6th largest cryptocurrency being traded.
To get to know more about Monero, please click on this link.
If you are interested in mining Monero then you should put in mind the costs that would be involved. Of course you have calculated the cost of everything and even thought of using your computer to do the mining itself. There are two types of mining Monero, one would be through your computer’s GPU and the other would be cloud mining.
Mining with your own GPU has a lot of factors that you need to put into consideration. One would be the cost of electricity. Not to mention the mining difficulty in which you can view here. The higher the mining dificulty, the harder it is to get coins transfered into your wallet. That means that you need more GPU power and that also calculates to more money spent in buying new GPU’s. Meanwhile a infrastructure is built around Monero and the first movers in every niche, Casinos – are already supporting Monero.
This is the current difficulty level of Monero as per coinwarz.com. Why not look into Monero cloud mining?
Cloud Mining Monero
To cut the costs and get on with getting the crypto currency people want to get, they would rather cloud mine than having to spend thousands of dollars just to get the proper equipment setup. This all goes the same with mining Monero using your own hardware. Cloud Mining is becoming the solution when it comes to getting the coin that you want. This is especially true when you want to mine a coin that has proper a user base.
Just like FIAT, crypto currency value goes up when a lot of people use it. Since Monero is one of the “top dogs” in the crypto currency scene, mining with your own hardware now is not that profitable. I placed the current mining difficulty of Monero and with the adjustments added at 1000 H/s and I would be making $311.04 per year, that would be at $0.10 a day! With that amount of hashpower, it would take you a very long time before you would feel comfortable with what you are earning. Not to mention that the only loss for using cloud mining is that you need to continuously upgrade your contract in order for you to earn.
You can calculate your earnings through this link.
With a starting hashpower of 1000 H/s, which is really high, the ROI isn’t looking so good. But still, you are making an income, it’s not just that fast than expected. Is it worth the wait? Well, that decision would still be up to you.
Websites that offer Monero Cloud Mining
Here are websites that offer Monero cloud mining contracts. Read through them so that you may get an idea on how they operate. Just a reminer, before moving on with a cotnract make sure that you read through it and understand everything before you push for payment.