Published On: Thu, Oct 26th, 2017

Is Cloud Mining Dead? Meet the Alternatives

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Cloud Mining is losing popularity in the cryptosphere. Meet three alternatives that are giving cloud mining companies a run for their money!
Cryptocurrency Mining Landscape & Cloud Mining
The introduction of ASICs has changed the mining industry and has priced out regular users who can’t access large mining facilities and specialized hardware. This change has led to a centralized ecosystem where mining can only be performed by certain companies, many of which are hedging their risk by selling mining power to users in the cryptosphere.
Cloud mining is a popular practice among entrant users in the cryptocurrency world. This is especially true for cryptocurrencies like Bitcoin and Litecoin which can only be mined profitably with a specialized ASIC miner.  Among these, the most popular are Genesis Mining and Hashflare.
Bitcoin Cryptomoney Cryptocurrency Btc Cryptography
While these companies have been able to gain popularity throughout the years, and especially during 2017, very few clients end up satisfied. This is because cloud mining companies sell contracts that often end up costing the user money, making them wonder why they didn’t just purchase and hold the coin instead.
These companies rely heavily on affiliate systems in order to …

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