Best Cloud Mining Companies with Profitable contracts to Invest In and Earn Passive Income (2020 Updated)

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Hello BitInvestor, It's been a while and today I'd like us to put together the best Cryptocurrency cloud Mining Companies and Investments that you can invest funds with and get good returns in real time.

Cryptocurrency Mining

I know a lot of gurus will consider cloud Mining not to be a very mouth watering investment opportunity but it's 101% better than keeping your money in your bank account (Savings account or fixed deposit).
Because earning a 3% anually on your normal savings account can't be compared to 20% to 100% or more earned Anually from cloud Mining providers.

Now things can get really tricky here because over 99% of companies on the internet claiming to be cloud Mining providers are actually SCAMS in real time.

To help you get started in investing online and earning passive income from cloud Mining without stress we've taken time to list out the best and most profitable companies which offers cloud Mining contracts to investors.

So without much Ado I'll quickly peruse through the list, but before then for the sake of newbies and people who just wants to get started investing online and earning passive income but have not much know lets look at what mining is and what cloud Mining really means.

WHAT IS MINING?

According to Webopedia: Cryptocurrency mining, or cryptomining, Also known as cryptocoin mining, altcoin mining, or Bitcoin mining (for the most popular form of cryptocurrency, Bitcoin),  is a process in which transactions for various forms of cryptocurrency are verified and added to the blockchain digital ledger.

Each time a cryptocurrency transaction is made, a cryptocurrency miner is responsible for ensuring the authenticity of information and updating the blockchain with the transaction. The mining process itself involves competing with other cryptominers to solve complicated mathematical problems with cryptographic hash functions that are associated with a block containing the transaction data.

The first cryptocurrency miner to crack the code is rewarded by being able to authorize the transaction, and in return for the service provided, cryptominers earn small amounts of cryptocurrency of their own. In order to be competitive with other cryptominers, though, a cryptocurrency miner needs a computer with specialized hardware.

While cryptomining can generate a small income for a cryptocurrency miner, in most cases only in the amount of a dollar or two per day for an individual using their own dedicated computer hardware. Expenses like electricity, internet connection, and computing hardware also impact the net revenue generated by cryptocurrency mining.

In order to get started mining, cryptocurrency miners will need dedicated computer hardware with a specialized graphical processing unit (GPU) chip or application-specific integrated circuit (ASIC), sufficient cooling means for the hardware, an always-on internet connection, a legitimate cryptocurrency mining software package, and membership in both an online cryptocurrency exchange as well as an online mining pool.

Aspiring cryptominers should also know that as cryptocurrencies have risen in both popularity and value, competition has increased substantially as well and now includes organizations and enterprises with more extensive resources than most individuals can compete with.

Crypto mining machines/Rigs

Now, That's according to Webopedia and it's pretty much complicated for some newbies to understand.
What all this meant was the network requires machines to do some sort of mathematical work in form of confirming transactions within that Cryptocurrency network so the miners earns that Cryptocurrency as reward.

Now, this is way too technical and too much for wanting to earn passive income so you're not considering buying your own machines or maintaining some sort of hardware or Looking for a mining pool and blah blah blah.
So this is the best option for us as investors who wants passive income; Cloud Mining!!
So this brings us to our new sub topic, which is: What is Cloud Mining? 👇👇

WHAT IS CLOUD MINING?

According to Wikipedia: Cloud Mining is the process mining utilizing a remote datacenter with shared processing power. This type of cloud mining enables users to mine bitcoin or alternative cryptocurrencies without managing the hardware.

The mining rigs are housed and maintained in a facility owned by mining company and the customer simply needs to register and purchase mining contracts or shares.

Since Cloud Mining is provided as a service there is generally some cost and this can result in lower returns for the miner.

So, That's a lot easier to comprehend, A company doing all the work and paying you a percentage so you do nothing and careless about the miners and maintenance and electricity bills and more....
But if you have enough capital and can get a good location at low electricity cost and of course YES, have enough technical knowledge about this, then it's way better to host your own miners and manage them but that makes things not too passive in the long run and you put in little efforts from Time to time.

Understanding all this brings us to our next question which is: is it worth it or worth investing on?

HOW PROFITABLE IS CLOUD MINING?

Now, this is when things gets a bit tricky.
There is something we didn't

BEST CLOUD MINING PROVIDERS


  1. Dualmine
  2. IQ Mining
  3. CCG Mining
  4. Cryptonoras
  5. Hashshiny
  6. Genesis Mining


1. DUALMINE

Legit cloud mining company that pays upto 25% monthly for 2 years contracts. Around since 2018

2. IQ MINING

Legit cloud mining company that pays upto 18% monthly for 1 Year contracts. Around since 2016.

3. CCG MINING

Legit cloud mining company that pays upto 18% monthly for 1 Year contracts. Around since 2016.

4. CRYPTONORAS

Legit Cloud mining company that pays upto 20% monthly for 1 year contracts. Around since 2018.

5. GENESIS MINING

The King of cloud mining companies, Around Since 2013. Pays up to 10% monthly for contracts up to 5 years.

6. HASHSHINY

Since 2016 - Legit cloud mining company that pays upto 15% monthly for 1 year contracts.


CONCLUSION

Thanks for reading this brief article