What is Cloud Mining?
If you have an underpowered PC offering low hash rates then Cloud Mining offers the route to much higher mining power at affordable levels. You are therefore effectively buying hardware for an un-limited time unless the price of either of the two coins drops by between 50-60% after purchasing a contract.
Bitcoin (BTC) and Monero (XMR) are the two coins offered with a possible addition to come. BTC starts at 20 GH/s for 0.000312 BTC and a maximum 1000000 GH/s at 15.6 BTC. XMR begins at 10 H/s for 0.0287267420 XMR with a maximum of 361.9569492 XMR. The maintenance fee for all contracts are pegged and remain at the same level for the duration of the contract term.
Example Contract Set Up
Setting up a 1,000 GH/s contract
Click the Cloud Mining menu option to begin the process and you will find yourself on the BUY page – click to select BUY on the Blue Button
You will now see the GH/s selector screen for BTC use the slider or put the cursor into the numeric entry box to specify a 1,000 GH/s purchase. Click BUY again.
You will then see confirmation of the contract price, maintenance fee and the wallet address for sending funds to. Once confirmation is received your account status will reflect on the page to provide your Reward commencement date in 24-48 hours from the receipt of funds.
If you feel that the amount is greater than you would like simply click to cancel the order and start over with a smaller amount. With the 1,000 GH/s contract the maintenance fee is equivalent to 60% of the profit and so at .33 per day the profit at current values is around .22 per day meaning every 30 days you could purchase an additional 40 GH/s from earnings. This is the method of building your account to maximize the earning potential of your contract.
Strategy
I have calculated the projected cost of the following contracts giving the current values at the date of publication
Hash Rate GH/s Contract Cost Earnings Maintenance
2000 $288 $0.44 $0.66
3000 $433 $0.66 $0.99
5000 $722 $1.10 $1.65
10000 $1446 $2.20 $3.30
Earnings will vary as per the market value of BTC
Benefits
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No equipment to set up and maintain.
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Daily Payout to your account
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Runs 24/7
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Lifetime contract
Drawbacks
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Up front payment
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Contract Terminates if profit isn't enough to pay maintenance fee.
As with all types of financial projects never risk money you cannot afford to lose.
Posted from my blog with SteemPress : https://www.private-locker.com/cryptocurrency/how-to-profit-from-cloud-mining-with-minergate/