One of the ways to earn cryptocurrencies is to mine them. Once upon a time, it was easy for anyone to just mine crypto using their laptops. Alas, not anymore. The process has become more cumbersome and expensive, making it reserved for the rich.
The cost of buying equipment can be overwhelming, and you need to have some technical knowledge to do it profitably. Indeed, the chance of profiting has also reduced drastically as there’s a lot of competition from other miners.
However, all hope is not lost. Miners have come up with a way to let anyone benefit from the process. As the saying goes, where there’s a will, there’s a way. This way is known as cloud mining.
Ethereum happens to be one of the mineable cryptocurrencies, even though it has migrated to a Proof-of-Stake consensus. If you have neither technical skills nor money to spend on equipment, cloud mining is your best bet.
The good thing about cloud mining is that it is affordable and you only need to pay for a package you can afford. After that, those in charge of the mining do it, and you get your cut based on your contribution at the end of the day.
There are many Ethereum cloud mining platforms, but we have curated the best ones in this guide to help you easily pick one.
Genesis Mining
Genesis mining is one of the most reputable and oldest crypto cloud mining platforms. You can use it to mine Ethereum, but also other Proof-of-Work cryptocurrencies like Bitcoin and Dogecoin. You can simply register and buy a mining contract to start mining immediately.
The cost of Ethereum cloud mining contracts starts from $525 for a 12 month contract giving off 17.50 mega hashes/second to $4,498.50 for a 150mH/s year mining contract, at an average cost of $29 per mega H/s.
Established in 2013, the platform has its headquarters in Hong Kong, one of the biggest crypto hubs in the world. Over two million customers use this platform from over 100 countries around the world.
Hashgains
Hashgains is another top platform to mine Ethereum. The cost of mining starts from 125 for 5 MH/s mining hash rate up to $1,250 for 50 mH/s and the contracts last for 24 months. This is more affordable compared to Genesis Mining, but provides about the same value in hash rate. It also offers a wider range of packages, making if available for a wider range of customers.
Interestingly, Hashgains also uses green energy, with mining farms in China and India. The only downside is that mining doesn’t start immediately, it commences 24-72 hours after payment is confirmed. The minimum payout for Ethereum mined is 0.5 Eth or $250.
IQ Mining
IQ Mining offers low-cost cloud mining contracts, as well as loans. It also incorporates cryptocurrency and options trading with margins, which enables users to earn from mining and earn more by trading them.
The website offers daily payouts in BTC and ETH miners. There is also pro-mining contracts that pay an extra 20% per annum. A contract costs $0.709 per 0.1 mH/s for Ethereum mining, and this is also the lowest investment.
There’s also a maintenance fee of $0.00013 per 0.1mH/s per day, with a potential income of $1,515. This platform is run by IT specialists and engineers who are familiar with cryptocurrencies, making it a reliable one to use.
You can also trade cryptocurrencies by copying pro traders on IQ Mining, making it more than just a cloud mining platform. If you’re looking for an all-inclusive crypto platform, try IQ Mining.
Conclusion
Cloud mining makes it possible for you to earn from mining no matter what. If this is something you wish to do, any of these platforms is a good choice to use and earn some money from Ethereum mining.
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