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Best Cloud Mining Services in 2024

11 mins
Fact Checked
by Ish Bautista
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Crypto mining doesn’t have to cost an arm and a leg to get going. Plug your computer into the best cloud mining data centers and share their processing power to onboard the Bitcoin train. This article curates the best cloud mining services available to crypto users.

And if you’re still interested in cloud mining services by the end of this article, then head on over to  our Telegram community! Join BeInCrypto Trading Community on Telegram where you can: discuss crypto topics, enjoy a basic trading course, and ask pro traders technical analysis questions.

What is cloud mining?

China Digital Yuan CBDC cloud mining

Following China’s banning of crypto activities, including mining, bitcoin mining has shifted towards the United States, with Kazakhstan and Russia also popular hubs.

As the world’s largest cryptocurrency, bitcoin holds the highest number of miners as well. This results in stiff competition, rendering individual mining with your own CPUs or GPUs far less profitable than it was before.

Under pressure from both governments and more streamlined miners, an alternative solution comes into play — cloud mining. The best cloud mining services allow users to mine cryptocurrencies without having to own the necessary hardware. More importantly, it allows them to participate in mining regardless of how much or how little they can contribute.

“Mining is a perfect cash flow business for financial industries to start playing with and start creating interesting derivative products off of that, especially in a low or zero or negative interest rate world.”

Ben Gagnon of Bitfarms: Bitvo

If you are averse to risk or heavy initial investments, cloud mining provides a superior crypto engagement than trading cryptocurrencies, as there is little risk of experiencing great loss.

Best cloud mining services

We cannot stress enough how important it is to only work with reputable cloud mining companies. If you are interested in a specific firm, do your research and background check, as the number of scams in the crypto industry is sky-high, and it is all too easy to lose your money.

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Luckily, there are still plenty of real, reputable mining firms, such as:

YouHodler Cloud Mining

Best for Multi-HODL rewards
Availability
Europe
Supported coins
BTC
Price
Dynamically adjusted
Risk of fraud
low
Payout period
Hourly
Mobile app
Yes

Binance Cloud Mining

Best for Multiple Payment Models
Availability
Global
Supported coins
BTC, LTC, ZCASH, and 4+
Price
1%-3%
Risk of fraud
Low
Payout period
Daily
Mobile app
Yes

Hashfrog Cloud Mining

Availability
100+ countries
Supported coins
BTC, KDA, and LTC
Price
$10.98 – $99.48
Risk of fraud
Low
Payout perios
Daily
Mobile app
No

BitFuFu Cloud Mining

Availability
E.U. and 100+ countries
Supported coins
Bitcoin
Price
$131.1 – $275.13
Fraud risk
Low
Payout period
Daily
Mobile app
Android and IOS

StormGain Cloud Mining

Best for Leverage
Availability
U.K. and E.U.
Supported coins
BTC
Price
Free
Risk of fraud
Low
Payout period
30-40 minutes
Mobile app
Yes

ECOS Cloud Mining

Best for ease of use
Availability
Global
Supported coins
BTC
Price
$100 minimum
Risk of fraud
low
Payout period
Daily
Mobile app
Yes

ECOS is a full-fledged investment platform. It includes not only cloud mining but also wallet, exchange, investing portfolios, and savings. Read more about the company in our review.

Kucoin Cloud Mining

Best for merged mining
Availability
Global except for US
Supported coins
BTC and LTC
Price
0%-2%
Risk of fraud
Low
Payout period
Daily
Mobile app
Yes

Nicehash Cloud Mining

Best for mining software
Availability
U.S. and E.U.
Supported coins
BTC, BCH, LTC, and 2+
Price
0.5%-2%
Risk of fraud
Low
Payout period
Every 4 hours
Mobile app
Yes

Hashing24 Cloud Mining

Best for customer support
Availability
Global except for U.S.
Supported coins
BTC
Price
$50-$125
Risk of fraud
Low
Payout period
Based on hashrate
Mobile app
Yes

Is cloud mining profitable?

An evolution of mining pools, cloud mining means that you rent a data center’s hash power. Given that this emerging crypto mining niche is riddled with bad actors, choosing the right one is key. With that in mind, cutting out the initial investment for buying a mining rig makes it profitable alone.

Likewise, one could free up time needed for navigating through technical hurdles of mining. Cloud mining eliminates that too. Most importantly, those who live in regions of the world with high electricity costs can finally partake in crypto mining with a simple cloud account.

Cloud mining continues to flourish in 2024

By just viewing these best cloud mining services, it gives you a pretty good idea of how it works and what to expect. While all of them are legitimate and profitable, StormGain’s approach to cloud mining seems to be the most streamlined. And when you are done, you can seamlessly use the platforms’ own wallet and exchange.

If you find other cloud mining services, make sure to vet them thoroughly, including not solely relying on user reviews, as those too could be faked. If you play your cards right and choose the right combination of contracts, you can start seeing profits in only a few months.

Disclaimer: All the information in this article is published for general information purpose only. Any action you take upon the information you find on this website is strictly at your own risk. We encourage you to do your own research and take extra care to protect yourself from scammers. 

Frequently asked questions

What is cloud mining?

Is cloud mining for everyone?

Is cloud mining safe?

What is the most profitable cloud mining service in 2024?

Which crypto should you mine in 2024?

How do I withdraw money from cloud mining?

Does cloud mining damage your phone?

Does cloud mining really pay?

Top crypto platforms in the US | March 2024

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photo_Ali_Raza_circle.jpg
Ali is a journalist with experience in web journalism and marketing. Ali holds a Master's Degree in Finance and enjoys writing about cryptocurrencies and fintech. His work has been published on a number of cryptocurrency publications.
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