Ethereum is also a cryptocurrency like the Bitcoin and had been released in 2015. Like in case of other cryptocurrencies, people have begun to understand that mining Ethereum can turn out to be highly rewarding. Just like in the real world we would need to mine materials like gold to earn profits, in cryptocurrencies too we need to solve mathematics problems to get payments in cryptocurrencies. When you choose to sign up for cloud mining services you can outsource this task of mining to a third party.
In order to be able to get the best Ethereum cloud mining pool, you need to first understand your requirements and thereafter focus on cloud mining techniques and tools. You will come across companies like HashGains, Genesis Mining, NiceHash and Hashing24 which are popular and highly rated Ethereum cloud mining services.
How you can get the best Ethereum cloud mining companies:
- When you are looking for Ethereum cloud mining companies, you need to look out for transparency. That means only if this services offers adequate information about how it works and the services it provides should you consider signing up for it. When you do not have access to this information, it may be unsafe to choose the company.
- Before you sign up for any Ethereum cloud mining services, you must make sure it is reliable and trustworthy. Reliability is highly dependent upon factors like the nature of equipments being used, performance and stability of the mining farm, uptime guarantees between 99%-100%. You also need to make sure that this cloud mining company offers timely payouts and abides by the terms agreed upon. There should not be any kind of issue which can negatively impact your profits and success.
- You must also calculate their potential profitability by taking into account the factor of mining difficulties. To make sure your Ethereum mining brings profits, contracts must be reasonably priced. So, it is better to trust companies which will not charge you maintenance and electricity fees for mining and will never try to extract a large share of the profits through deposit and withdrawals. So, if there are any hidden fees, you need to be aware of them and you must stay away from such companies at all times.
- Another important factor to look into when choosing the best Ethereum cloud mining service is privacy and security. So, you should assess measures for protecting private information and financial data. You must only choose those services which deploy the latest encryption techniques and security measures for guaranteeing the highest safety level.
- Last but not the least; you will need to assess the ease of use of the contracts and responsiveness of the company staff before taking a final decision. The plans should ideally have bonus features which will help to improve the overall quality of services and expand the range of services. The overall performance should not be adversely affected by downtimes and technical malfunctions and such other issues.
The companies which meet all these above-mentioned criteria are well suited for Ethereum mining.
- HashFlare: The HashFlare allows individuals to start with very low investments and this is possible when the user accesses mining regardless of his age or location of investment. This company is perfect for both experts and amateurs; it is an efficient and quick cloud mining company which lets its customers choose among five algorithms.
- Genesis Mining: This is perhaps the world’s most transparent and leading hosted provider company which was established in 2013. It offers three 2-year plans to do Ethereum mining and these have been designed to cater to various client profiles. So, one can even design customized Ethereum mining plan. This company offers the smartest ideas to invest money in a safe way.
- Eobot: Eobot is also a cloud mining company which offers user-friendly plans and highly affordable solutions. You are free to mine any cryptocurrency based upon the Scrypt algorithm and this includes Ethereum.
- OXBTC also provides both Bitcoin deposit investing and cloud hash power trading. This has 3 mining farms and provides cloud mining solutions for Bitcoin, Ethereum, ZCash and Litecoin. It also charges nominal prices.
- NiceHash happens to be a rather versatile company which offers hash rental and cloud mining services. it can support 20 algorithms and many pools, allowing users to mine a variety of cryptocurrencies, including the Ethereum.
Before you start mining Ethereum with cloud mining services, you need to understand that you will have to purchase online shares and thereafter they must pay for these. When the purchase is over, the mining can begin. When you have signed in for these cloud mining services, you can safely relax and let the providers take care of the rest. You will not need to worry about any extra costs like electricity costs or get anxious about program installations. Therefore, cloud mining is undoubtedly the safest and most effective option for mining this digital currency.