The reward for mining Bitcoins halves around every four years or so (every 210,000 blocks). With these ever-diminishing returns in mind, you have to consider which Bitcoin mining app will serve your needs best.
Yet, there are so many Bitcoin mining options on the table these days, how do you know which one will provide you with the best return on investment? We’ve pondered this question for some time now. The result of all this thinking is we’ve come up with a surefire list of the potentially most profitable bitcoin mining apps available today.
If you want to know how you can mine bitcoin efficiently to make the most gains from your investment, read on.
What Is Cloud Mining?
When you consider all the equipment you need to mine, cloud mining is a more simple alternative that anyone can do with a smartphone, laptop, or other similar devices.
With cloud mining, you tend to “rent” the equipment you need to mine. The equipment will already be set up by a mining company in one of their data centers around the world. Your equipment then gets to work mining crypto which you can keep.
Cloud mining is very profitable for many people these days. It’s a great way of getting a passive income stream with minimal effort.
Bogus Bitcoin Mining Apps
The first thing you have to be aware of is whether you dealing with a real Bitcoin mining app, or something rather different. Some apps claim that you can mine Bitcoin with them, but in reality, you might end up being led down a garden path that’s nothing to with mining.
Since there is an increasing number of people interested in mining these days, scammers are cashing in on this demand by preying on people who don’t understand the industry. Such apps often ask you to invest money so that you can contribute to their “mining efforts,” when in reality they provide nothing in return. They may also make you watch video advertisements which they can cash in on, with nothing in it other than time wasted for you!
How To Know if a Bitcoin Mining App Is Legit
The best advice here is to never part with any cash until you’ve thoroughly researched the company you are dealing with. You can do this pretty fast by doing a Google search and typing in extra words like “review” or “scam” along with the app name.
The Trustpilot website is an excellent website for finding verified reviews. Most Bitcoin mining apps that are legit should be listed on there and have positive reviews.
Is There a Free Bitcoin Mining App?
There is an abundance of free Bitcoin mining apps to choose from these days. You can simply download many of these apps onto your smartphone and then start mining.
One of the most common free crypto mining methods is pool mining. This is when many phone users contribute computing power from their devices to crack crypto transactions.
It makes sense to be part of a pool, rather than go it alone with a smartphone. This is because your device will have very limited power and it would probably take many years to make any headway in the mining game!
Larger pools will crack transactions more often since there is plenty of computing power to do so. However, because you are sharing the rewards between a massive number of people then you shouldn’t expect to get much in return. Smaller pools may take longer to crack transactions but you can expect to get higher rewards when they then come through.
The Best Bitcoin Cloud Mining App
Why choose a cloud-based mining app? Well, for a beginner, a cloud-based app makes a lot of sense because you don’t need to buy any equipment.
So let’s now take a look at some of the best bitcoin cloud mining apps on the market today:
ECOS
ECOS was set up in 2017 in Armenia of all places! Why Armenia? It’s because there is a free economic zone there for the company to take advantage of.
The company is legit and has hundreds of thousands of users interacting with the platform from all around the world. It has an easy-to-use mining calculator that makes it simple for you to estimate your returns from crypto mining.
Beginners will love that they can gain access to hosted equipment and mining contracts. What’s more, you can customize aspects of those contracts. For instance, you can alter the duration of the contracts and change hash rate amounts.
Furthermore, you can invest in crypto indexes. These indexes include the NFT index, Top 10 index, Elon Musk index, and Defi Protocols index to name a few!
Another great thing about this crypto mining application is that you can receive daily payments and there are both Android and iOS options. The minimum withdrawal you can make is 0,001 BTC. If you are interested in using this app, you can start with a free mining contract for one month to test out the platform.
LetMeCloud
LetMeCloud is a UK-based cloud mining and investing app for cryptos. They have data centers set up in cold and windy northern countries which are well suited for crypto mining. We’re talking about countries like Canada, Iceland, and Norway.
If you are wary of cryptocurrency scams, you shouldn’t have any issues with this company. Since they have their head office in London, they follow UK laws and regulations, which is a very good thing.
If you choose to use this app, you can get daily payouts and they offer excellent 24/7 customer support service in many languages. The interface with this app is intuitive and easy to navigate.
Right now, LetMeCloud offers three one-year mining contracts to consider. Their “Start Bonus” contract is popular with beginners. For more advanced users, they might want to think about the FT Bonus option.
The customer support on this platform is second to none! You can contact them seven days a week, 24 hours a day. Plus, the sign-up procedure is a breeze. All you have to do is run through a few clicks, get yourself verified, and then you can start mining!
Bitdeer
If you want a bitcoin mining app that thousands of people trust, then Bitdeer is a go-to option. You get a multi-brand hashrate market along with cloud hash mining contracts. You also gain the benefit of various cloud hosting services.
Since 2018, Bitdeer has been providing digital assets to thousands of people in over 200 countries around the world. You access some of the most renowned mining pools in the world and top brand mining equipment.
Bitdeer has data centers in places like Norway and the US. Although, there have many other centers around the world in colder climate regions.
Some of the benefits of Bitdeer include an income and profitability calculator and the ability to make direct deposits from some of the world’s top mining pools. There are also plenty of third-party providers to check out on the hashrate marketplace.
We should mention they do loads of specials and bonuses to take advantage of. And, the real-time currency charts they offer are super-helpful at times.
You can choose to opt for their smaller plans as a beginner. These smaller plans are 180-day contracts that are self-run. You will need to invest a minimum of $540. But it’s good to know that you can take daily payouts if you wish.
Genesis Mining
For anyone with a more Asia-centric mindset, Genesis Mining is a great mining platform based in Hong Kong. The company came online in 2013 and now serves millions of users with Bitcoin mining capabilities. And it’s quite amazing to learn that Genesis mining created the first Bitcoin mining farm out in eastern Europe!
With Genesis Mining, you can mine several altcoins alongside Bitcoin. They provide rapid payouts and daily output. You can even pay by credit card if want with this company, and you shouldn’t expect any additional fees with Genesis.
The minimum amount you need to invest with this company to start mining is $500. Then you have options of mining Litecoin, Ethereum, Dash, Bitcoin, and other cryptos.
Since the platform is becoming so popular, sometimes you may have issues getting some of the more in-demand contracts. In some cases, you will see contracts being “out of stock.” However, if you do manage to get one of the more desired contracts, the rewards can be plentiful!
IQMining
Many people consider IQMining as one of the best providers of global hash. It began in 2016 with a team of Fintech, crypto, and blockchain experts behind it.
The company has data centers spanning across the globe. For example, it has data centers in Georgia, China, Iceland, and Canada to name a few. However, the company chose to have its headquarters in the United Kingdom.
For anyone that wants a large variety of crypto to mine, IQMining is an excellent option. You can get daily payouts included and there is 24/7 live support from IQMining. Plus, for those with a small budget, you will be pleased to know that you can start with a mining contract for just $108!
There are different contract length options on the table too. You can either purchase a 1-year, 2-year, or 5-year contract. And we have to say that the general predicted payout rates on this platform look to be very profitable.
StormGain
If you’re after an all-in-one crypto solution for mining and trading, then StormGain is a solid option. It includes both a mobile and web app to make use of and they have a special loyalty program you can benefit from. Plus, they have a referral program where you can earn some extra money.
One of the best features of this app is that you have access to excellent multi-currency wallets where you can change and store crypto assets. StormGain has also made sure that withdrawals on its platform are rapid and super secure.
If you carry your mining in the EU or UK, you can withdraw funds directly to your bank account. As well, it’s great to know you can get started with as little as $50.
How To Withdraw Your Mined Cryptos?
So once you’ve bought a crypto mining contract, you can expect to see daily payouts. This is when you need to figure out how you withdraw your cryptocurrency if that’s what you wish to do regularly.
One way of withdrawing Bitcoin and other cryptos is to use a Bitcoin ATM! There are now thousands of Bitcoin ATMs around the country that you can use to gain easy access to your money.
For instance, you might withdraw some Ethereum (ETH) from your cloud mining app into your crypto wallet. If you want to get “hard cash” dollars, you can head to a Bitcoin ATM and change your ETH into dollars and then withdraw it on the spot to spend on whatever you like. You can learn more about how this can work for you if you view this page.
Find the Right Bitcoin Mining App for Your Needs
The most important thing you need to do when choosing a Bitcoin mining app is to check reviews to see if they are legit. After that, compare different apps’ features to figure out which will serve your needs best. It’s also a good idea to use the free calculators they offer to figure out how much you could potentially make with a mining contract.
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