Very often it so happens that the process of choosing a cloud mining contract turns out to be quite difficult. In particular, there start to arise various questions concerning the price of a contract, its length and legibility. That’s why we’ve decided that there is a need to provide our users with an article that tells a person in details how to avoid scam projects and successfully choose a good contract.
We recommend buying contracts from the following 2 companies – Hashflare or Genesis Mining. They are the most trustworthy companies in the cloud mining industry nowadays.
- Compare the contract you’re interested in with other Litecoin, ETH or BTC contracts offered.
On our website, you can easily find the most up-to-date information concerning the types of contracts mentioned. We never lie to our users. We firmly believe that every person who is planning to invest into a cloud mining contract should be well informed so that not to waste his/her money for nothing. If we come to the conclusion that a certain contract isn’t profitable, we’ll find a way to inform you. If we assume that a certain contract is fake, informing you will also be our first priority.
When looking for your ideal contract, you can rank and filter by companies, the days it takes to get the money you invested back, how long a contract lasts etc. All in all, we make the process of searching for a contract as easy as possible.
- Profit you’ll get from a contract you want to buy.
When choosing a contract, it’ important to know how profitable it is. Is there any sense in buying a cloud mining contract that won’t let you earn some extra money apart from the money you invest in it. When calculating the profitability of a contract, we take a number of factors into account. For example, we provide information on how much time it takes for a miner to get his/her money back (we figure out the daily return rate that’s based on the hashrate implied by a contract, the hashrate of your network and the fee you’re to pay (if there is any)). Be sure to pay attention to the figures at the bottom of the page (below there is a picture provided).
We are inclined to think that every miner should have as much information as possible if he/she is going to invest in a cloud mining contract. That’s why we let you see the return rate per year that you’re to expect from a contract. Let’s say, the return rate amounts to 174%. For you it means that you’ll get the price of the contract back ($899) and will earn 74% from the sum on top. You’ll also see the cost per MH/s and the return rates per week and month. We encourage you to keep in mind that these factors depend on the network hashrate and exchange rate. Due to this fact they can vary.
As a rule, each contract exists for a certain amount of time. At the same time, there are contracts to avoid. We are talking about the contracts the payback period of which isn’t specified (you’ll see that it says “never”). These are the contracts that you’re not to buy because you’ll never earn any money with them. In fact, you’ll never even get the money you spend on buying them because the fee you’re to pay is higher than the sum of money you get per day. Alternatively, you may see that the payback period lasts longer than the contract itself.
Since you see the profit ratio per day, you can compare it to the fee you’re to pay each day. For example, if you’re using the Genesis mining ET contract (shown on the picture), your everyday revenue amounts to 100% since there is no fee you’re obliged to pay. If you decide to but the 15 TH bitcoin mining contract (shown on a picture below), be ready to get the revenue of 81% on a daily basis since there is a fee you should pay every day.
- Scam Projects.
There are cloud mining contracts that are created with the only aim – to get money from potential miners. They may seem to be good. Yet, all of a sudden you stop receiving your cryptocurrency all of a sudden. We carry out a thorough investigation in order to ensure that you’ll never become a victim of such like contracts. If we believe that a certain company offering you a contract to buy isn’t trustworthy, we post a corresponding warning at the top of the page. As a rule, in order to find out that a contract isn’t a scam, we require a company to contact us via Skype and give us a guided tour on the way their system works. If a company refuses to do so, we come to the conclusion that there is something to hide. There is a different article telling you in details about how to determine scam offers.
We also believe that it’s important for you to be able to see the opinion of other miners who already use certain contracts in order to make the right decision. That’s why we give you an opportunity to read through the feedbacks of other miners.
- Details to pay attention to (terms that come together with the contracts offered).
Sometimes it so happens that a contract gets terminated once it becomes unprofitable. That’s why we encourage you to take your time reading the terms that come with the contract you decide to buy. This way you’ll be able to avoid unpleasant situations. For example, a situation when you stop receiving profit from the contract you invested in. (Pay close attention to the terms written in fine print!)
Do not forget that the industry of cloud mining contracts is characterized by a high level of volatility. That’s why some companies can disappear one day even if they seem to be rather reliable.