Risk vs reward When engaging in any type bitcoin cryptocurrency mining there are risks, but profitability is possible if you make the right choices. This post has you covered.

Which Companies Are Not Scams?

If a cloud mining company accepts bitcoins then there is a good chance it is a scam. Risk of fraud Less fun if you’re a geek mining likes system building! This is done by dividing not multiplying the monthly running cost by the 0. One only needs a home computer for communications, optional local bitcoin wallets and so on. Investigate social media channels, speak with former customers and ask pointed questions of operators prior to investing.

Just because they are not scams, however, does not mean that cloud will make a profit by buying contracts.

Most Bitcoin Cloud Mining Companies are Scams

This is because Bitcoin payments cannot be reversed. Join Us at Consensus: A company can claim to be a cloud mining company without any proof of actually owning any hardware. Leased hashing power Lease an amount of hashing power, without having a dedicated deposit or virtual computer. Even so, you can still use these calculators by thinking clearly about the costs involved. You can read more about Genesis Mining on their about page. In the case of hardware miners, you can work out the monthly running cost by multiplying your electricity charge ie:.