So I went into crypto cloud mining..
I have been interested in cryptocurrencies, mainly Bitcoin, since around 2010. A friend of mine was talking about Bitcoin at that point of time and we got some. I put mine on MtGox, and some of you might know what happened to MtGox in february 2014.. I lost all my Bitcoins.. Never again, I said.
So in the beginning of 2017 I was thinking about Bitcoin again, it was still there and had proven it self. I bought some and stored into a software wallet. No more cloud wallets for me. During this summer I realized I had quite an amount of value in my software wallet, so I started to look for a hardware wallet. I finally ordered a Trezor hardware wallet, where I now have all my assets in.
A month ago I was thinking about mining. I searched for a mining rig to start with and I found one for 3600 USD online. But those kind of rigs uses alot of power and makes alot of noise. I had to make it simplier for me. Cloud mining! That must be it.
I invested in cloud mining with Genesis Mining, Hashing24 and Hashflare. I took 1000 USD and spread across those three cloud mining sites.
On Genesis Mining I got 10 MH/s of Ethereum mining and 60 H/s of Monero mining. Those options was the only ones available when I invested. This costed me 372 USD. The first two weeks it have given me 0.00125027 XMR and 0.00192715 ETH. No payouts yet, as the amount is too small.
On Hashing24 I bought a contract for 1 TH/s Bitcoin mining for 229.50 EUR. Two weeks later it have generated 0.00476593 BTC (or 18.47 EUR). No payouts so far as the balance is low.
On Hashflare I bought 2.5TH/s of SHA-256 (Bitcoin) mining and 15 MH/s of Scrypt mining. This was totally 502.50 USD of investment. About a week after I bought my contracts on Hashflare, they changed the contract from lifetime (as long as mining was profitable) to one year. If I am lucky I might get my investment back and reach break-even. Currently my balance is 0.00669974 BTC . No payouts here either, as balance is low.
So my investments is 807.50 USD + 229.50 EUR. I think I will do a profit on it, as long as the value of crypto currency is going up my cloud mined coins will increase in value.
As for now I keep on buying Litecoin (LTC) on Coinbase daily. I think LTC is going up soon.
Are you invested in cloud mining? What's your experience? Leave a comment.
- Genesis Mining, https://www.genesis-mining.com/a/1378900 use code 8gNu0l to get 3% discount on your buy.
- Hashing24 - https://hashing24.com/
- Hashflare - https://hashflare.io/r/85082A25
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STOPI am in similar position as you. Just started August 2017 and really wish I started sooner. I bought into hash flare and stinks seeing they changed the contracts out of no where. Investing in crypto as a noob now is difficult without large capital. Still the excitement of searching for the next Bitcoin keeps me interested. So many people are into litecoin but +80 a coin is way over my budget :/ anyways I look forward to watching your progress. Best of luck to you.
I am not buying one coin at a time. I buy fractions of it. Today was not a good day for Litecoin, nor Bitcoin thou..
Nice sharing. It was such a waste with your initial foray into Bitcoin. But everything happens for a reason. At least now you are wiser and I wish you all the luck this time round in your investments with Cryptocurreny.
One question though, why do you think that LTC would go up soon? There are just so many coins out there and every one of them is claiming how great their potential is. Would love to hear from you some simple things you consider when reviewing a particular cryptocurrency. Thanks! :)
"I got a feeling". But that feeling was of no use today. Everything went down. I've been listening to some cryptopeople on Youtube channels, whom is invested a lot more than me in cloud mining. They seem to share the idea of Litecoin being the next "rocket". Also, it's what I can buy at Coinbase (Bitcoin, Litecoin, Ethereum is available there). A week ago I was looking after marketplace for NEO, I thought "China, they have a lot of people so NEO must go up". I am so happy today that I didn't find a simple marketplace for NEO.. :)
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