Full Guide about Cloud Mining, Bitcoin - and Crypto Mining
What is Bitcoin mining and how does it work
Mining is the process of confirming a valid transaction through a cryptographic algorithm called SHA-256. Since this algorithm is very complex and difficult to solve, there are special Bitcoin mining, so-called ASIC mining devices, that have been built only to do this cryptographic algorithm efficiently and quickly to hope for a payout from the network. There are two different ways, one is solo mining and the other is pool mining, where the latter makes more sense for Bitcoin. The mining pools have a very high hashrate and are much more likely to find blocks than a solo miner. In the early years of Bitcoin, you could do solo mining 24/7 with a cheap laptop and you would earn hundreds of Bitcoins a day because first of all the difficulty to find blocks was very easy compared to today and the block reward was 50 BTC per block (10 minutes).
Litecoin and Dogecoin mining work similar to Bitcoin mining but it is a different algorithm (SCRYPT) which means that you need different ASIC mining devices to mine all cryptocurrencies. Again, you can mine Ethereum both with again special ASIC devices but you can also mine Ethereum with graphics cards by connecting multiple GPUs in series on a mining rig and thus achieving a higher hashrate but even with a single graphics card such as gtx 1070 for mining ethereum you would make a profit. With the ethereum mining calculator from whattomine.com, you can calculate what you can earn but mainly which Coin you should mine with your Hardware.
What is Cloud Mining
Cloud Mining has a long history in the Bitcoin and Crypto Community and there are many ways to earn Bitcoin and Cryptocurrencies with cloud mining contracts but we do not advise it as it's Investing in Bitcoin Mining without control after the contract expires. The cloud mining industry is also blessed with a lot of scams, so you really have to be careful here. From websites that provide a free cloud mining hash rate for registration is generally not recommended because these providers go offline very quickly and you can lose your money under certain circumstances! There are many different companies for Litecoin, Ethereum, and Dogecoin cloud mining, but the same applies here.
Is free cloud mining legit?
Yes, in most of the cases you’ll have a great experience but there also will be cases here and there where you won't get your money. This is why we recommend research on Portals like this btc-sites.com!
Can you earn free crypto while cloud mining for free?
Yes, you can earn different Cryptocurrencies like Monero, Litecoin, Ethereum, Dogecoin, and even Tron or Dash but cloud mining bitcoin is also possible with cloud mining websites. But it is also necessary to be lucky to get Bitcoins quickly and of course, everything depends on how much hashrate you have available!
Our Top Cloud Mining & Companies
🥇 #1 - NiceHash - Mining Dogecoin | Mining Ethereum | Own Mining Software
Nicehash is one of the largest crypto companies fully dedicated to mining and it shows! We are very fond of Nicehash as it is the best tool to start mining. On Nicehash you can register real mining rigs and mine easily through the Nicehash Pool. You can mine Ethereum here but get paid in Bitcoin or other cryptocurrencies. Why we also list Nicehash in the cloud mining category is because it is possible to buy hashrate from others and then it's "cloud mining" with real purchased hashrate because as mentioned in the beginning, there are also many black sharps here who pretend to sell Hashrate but behind most cloud mining websites is just hot air. That's why Nicehash is number 1 for us because here you can be sure and buy Hashrate in good conscience or even connect your own rigs.
🥈 #2 - Stromgain - Mining Dogecoin | Mining Ethereum | Cloud Mining
Stormgain is a real all-rounder! You have a lot of options available here and recently also a free mining app. Free dogecoin cloud mining but also bitcoin, ethereum, and other coins becomes a reality here! Among other things, you can do crypto day trading here as well as Bitcoin, Litecoin, Ethereum, Ripple and BitcoinCash margin trading. A crypto swap allows you to exchange cryptocurrencies quickly and more securely. We highly recommend this crypto trading + mining platform! Register with Stormgain now and we'll give you $3.00 free when you try the bitcoin mining app!
🥉 #3 - BitDeer - Cryptocurrency Mining | Cloud Mining
BitDeer is one of the largest but also one of the most secure cloud mining companies by far. BitDeer offers contracts in different volumes and cryptocurrencies. From Bitcoin, BitcoinCash, Ethereum, Litecoin, Dogecoin, ZCash to Dash, there is really a lot at the start. BitDeer has even its own Institutional Investor Service area which shows us that the Company is here to stay! Cloud hosting and a dedicated hashrate market round out the whole offer very nicely.
#4 - MinerGate - Dogecoin Mining Calculator | Cloud Mining
MinerGate is a mining hub with many functions as well as some mining pools where you can mine coins like Bitcoin, Grin, Monero, Ethereum, Ethereum Classic, Litecoin, Bitcoin Gold, and ZCash. A mining profitability calculator makes it easy to see how much you can earn. Pool statistics and a dedicated blockchain explorer for all cryptocurrencies you can mine on Minergate.
ASIC vs GPU Mining
It is quite clear that GPU mining is currently very difficult because in 2021 by COVID all graphics cards have increased enormously in price which is no wonder with high demand. In fact, it's so bad that gamers are cursing the mining industry. But if we go back then ETH mining with GPUs has been more worthwhile. You can set up a mining rig with GPUs without problems in the basement with external fans that have no more than 2500 revolutions per second because of the noise. ASIC miners use most fans with 6000-8000 revolutions and therefore the devices sound like turbines and are very loud. What also speaks against an ASIC is the incredible price because when the devices come out you get them mostly only from 20,000 USD + and then you have to be careful where you buy because there are many mining websites that are simply scams! In addition, the manufacturers inflate the market through sales so strongly that the ASIC miners earn less and less over time, which is also the case with GPUs but not as extreme as with ASIC miners.
What is the best Mining Software
To be honest, it all depends on which coin you want to mine. The best dogecoin mining software is CPUminer, but you can also mine many other cryptocurrencies with it. The best crypto mining software, in general, is T-REX miner which we have been using for years both on Windows and via SimpleMining on Linux. T-REX has shown in many tests that it finds among the most shares!
What is the best Dogecoin Mining Pool
The best Dogecoin Mining Pool for beginners is the NiceHash Pool. It's easy to set up and from my own experience, it's also amazing to learn and try out! Mining Dogecoin Software which they recommend is the Awesome Miner mining software. An alternative would be zergpool.com. Mining Dogecoin in 2021 got a lot more difficult because of the massive +300x price increase and Elon Musk on Twitter with Crypto Mining Reddit groups was a big reason for this increase.
What is the best Ravencoin Mining Pool
The best Ravencoin Mining Pool is by far 2miners.com. You will get paid once you collect 10 RVN like clock-work. I Mine Ravencoin there every night with my Gaming PC! An alternative would be the Ravenpool or Wollypooly.
What is the best Ethereum Mining Pool
The best Ethereum Mining Pool is Ethermine.org where we have mined with 5 Ethereum mining rigs for over 2 years now. There were never problems and if one was reimbursed with more earnings or 0% fee. Even where Ethereum fees have gone very high, they have never charged a withdrawal fee, which many other pools can't say about themselves.
How to build a mining rig?
Building an ethereum mining rig is not that easy as it sounds as there are many main factors like what hardware and components you use must be considered from the beginning. I recommend using Hardware that is made for Mining like the ASRock h110 pro-BTC+ Motherboard for example which supports up to 13 GPUs for cryptocurrency but especially Ethereum Mining. Also, a very important point is the Power Supplies which should always have some room left to avoid short circuits. Where you can save some budget for your mining rig is the Frame which can easily be built from wood. We don't recommend searching for bitcoin mining rigs on amazon as all you will find is too expensive!
How to start mining ethereum?
Actually, it's more than easy because for ether mining you only need a graphics card (Gefore1070+), PC, and the latest T-Rex Miner version. When you open the T-Rex folder, select ETH-ethermine, and right-click + edit to enter and save your Ethereum address. If you now start the miner with left-click you can follow everything you earn live on ethermine.org/miners/ETH-ADDRESS in a short time.
How to start mining ADA (Cardano)?
Cardano is a Proof of Stake currency and so not minable! The Mining on the Cardano Network is called Staking and means as much as, the more ADA you own the bigger your Stake of Share gets. Voting rights and more features make Proof of Stake (POS) really attractive lately. While the Voting feature is pretty new we are pretty sure that it will have a huge impact on the decentralization of Proof of Stake Coins!
No matter if Cloud Mining or Crypto Mining with rigs or ASICs everything has its pros and cons but all in all Mining is a really nice profitable opportunity to everyone with low electricity costs and the money to buy the needed hardware of course.
If you are just a simple Cloud Mining enthusiast then I can recommend not to Invest a lot in Mining contracts like many of the contracts will never profit because of the simple fact the overtime the difficulty to get Blocks rises as more and more miners connect to the network and try exactly what you are trying while the Block Rewards shrink over time because of the halving on Proof of Work (POW) algorithm like Bitcoin uses.
When it comes to real mining with real hardware I can just say to better get the GPUs as they have a use case even if the Mining experiment fails since you can build Gaming PCs for example and sell them while millions of AISCs go to waste year after year because they are no longer profitable.