So if you can't afford mining equipment for whatever reason, one of the best alternatives for you could be cloud mining. Basically a company will loan out hashing power for you to use and you get the mining rewards. There are many companies that do this, including Genesis mining, Hashing24, Hashflare, and NiceHash(who I will not be covering today but you should defiantly check out). For the purposes of time I will only be comparing the standard lifetime Bitcoin contracts using the standard of a 100 GH plan cost plus additional maintenance fees to mark each ones profitability.
1. Genesis Mining
I thought I would start with the most well known company for cloud mining contracts, genesis mining. So lets start by looking at their prices. If you want a good balance of cheaper fees and rates for putting slightly more trust in the company and their financial situation, this is the option for you.
It cost $30 for 200 GH meaning that 100 GH would cost 15 dollars.
Their additional maintenance fee is $0.00028 every day, which is the cheapest of all 3 options.
It is worth noting that at the current time of making this Genesis has been having significant issues with a recent hack and as a result they have not been payout every day, this could effect your decision.
2. Hashing24
Hashing24 is owned by Bitfury, a mining company which makes ASIC chips. They are by far the most expensive of the 3 main options. But as they are owned by a large trustworthy company with multiple different streams of income, you can be fairly sure they are not going anywhere. If you will pay higher premiums for knowledge that your investment is in good hands, this is the option for you.
The price of a 100 GH contract on Hashing24 is $26, almost twice that of Genesis
Their maintenance fee is also significantly higher than Genesis's fee as $0.00033 a day
One of the things that does arguably set Hashing24 above Genesis is that they payout to a balance area on their website, meaning that transaction fees do not build up over time and it its a lot easier to reinvest back into a contract.
3. Hashflare
Hashflare is of the lesser known options on the network which offers very cheap immediate prices, in exchange for much higher long term fees. If you are on a willing to sacrifice long term profit for short term savings this is the best option for you.
100 GH on Hashflare will cost about $12.50, more than half of Hashing24's rates
The maintenance fee on Hashflare is $0.0035 per every 10 GH, making this the most expensive maintenance fee of all the cloud mining companies
One of noteworthy features of Hashflare is their unique pricing system where you can pay as little as 10 GH for a plan. This allows for much more custom plans to be made without bending to the services pricing limitations.
Conclusion
Thank you for reading and hopefully now you have a better idea of your options on cloud mining, and if you found any of there options appealing to you, feel free to use one of my affiliate links down below to join my team on any of these sites and if you liked the content and want to help me out you can donate. Thanks for reading, have a good day, and good bye.
Genesis: https://www.genesis-mining.com/ (Use this code for 3% off your purchase: SWBjqo)
Hashing24: https://hashing24.com/?rid=53616c7465645f5f293d677870b2092e0551f49f2bc5fad8
Hashflare: https://hashflare.io/r/862A60A7
Donations Gratefully accepted
Bitcoin: 17CnwKFT5tamNG4vHCNxRKotzjnH1ay2V7
Ethereum(and other ERC-20 Tokens): 0x69BD6a0F7222368f51cCCE98D6DbdAAfBEc019c0