There are a number of people who are making money through mining cryptocurrencies in the cloud. You need to find a reliable Crypto currency cloud mining site in order to make money. There are many scam centers. That means picking the best solution is the only thing that will help you make money.

Most Profitable Crypto Currency Mining Companies

There are a number of things that we often look at before we recommend a site to our readers. If you are constantly following our articles, you will notice that we hardly recommend a cloud mining site to our readers. 95% of sites fail terribly in passing our test and we cannot recommend them as a reliable place for mining Crypto currencies.

There are few cloud mining service worth talking about since most of them tend to fold up within a few months of launching their services. These companies proved to be an exception:

Approved Cloudmining sites

  • IQ Mining – Most profitable cloud mining company
  • Hash power factory
  • CCG Mining

Personally, I am of the belief that; everyone on the blockchain/cryptocurrency train is out here to make some cash. Except for Satoshi Nakamoto of course.

I know quite alright that some claim to do it for the betterment of humanity and whatnot. The question is are they making money? A simple yes or no answer really. However, you will find out that 99% of the time the answer is YES.

Anyways the point I am trying to prove is that making money is a major driver of the cryptocurrency industry.

Anyone used to cryptocurrency knows that the best way to earn yourself some solid cash is to mine crypto-coins or launch your own cryptocurrency. Mining has however been the most popular option.

Going by the basic definition of mining, the process does seem like an easy one. I mean its all about buying some hardware install some software, set things up and sit back and watch the coins roll in. Going by this alone, anyone who can set up a sounds system should be able to set up a mining farm.

In reality, the opposite of this is true. Mining involves some use of sophisticated software, and also when the troubleshooting starts, you need to have enough technical experience to handle it. There is also the issue of electricity and country regulations. Putting all these together makes mining crypto without truly taking the time to invest in it nearly impossible.

However, as the saying goes, where there is a will, there is a way. If you know how web hosting platforms operate. You must have heard the term cloud hosting. The basic definition of this is that, instead of having your data hosted in one single fixed location, with a cloud hosting account, you will be having access to use a huge connection of system servers, which are interconnected to form a single usable resource.

Now bringing the idea of this to mining. Apart from Bitcoin and some other coins, it is no news that a common CPU/GPU is capable of letting you mine some cool coins. Also, the more the hardware power working together, the more the chances of mining the right block and making more money in the process.

This connection of multiple mining tools, cutting across several locations is what forms a cloud. So when you hear the term cloud mining, just know that you are renting a space on this huge network, connected together.

One mining services we have come to notice over time (2year!) is IQ mining. Since its inception, the mining service has grown exponentially and has garnered itself some excellent reviews. In this IQ mining Review we will be taking you through all that is to be known about this mining service.

A Brief Introduction to IQMining

IQ mining is a crypto mining investment platform which came into existence in 2016. Since its launch, the platform has grown into something worth talking about.

For those who got scammed online before, one thing you will always look out for in your consequent investment is a name.

Going through the IQMining page, we discovered two names from the website are: George Virsky, IQMining Engineer and Brad, a tech support.

IQMining is said to have about 50,000 active users, who have rented about 857101 Total power (scrypt), MH/s and a total payout of $4974424 within a period of two short years. While using the platform you can mine more than 100 popular cryptos.

How to know a Crypto currency mining scam

Now, you don’t have to scratch your head very hard to know that a Crypto currency cloud mining site is a scam or worse still a ponzi scheme. Scam crypto cloud mining sites promise hourly returns which is typically not a common thing to find in genuine Crypto currency cloud mining websites.

Hourly returns are mostly found in ponzi sites which only accept money for the purposes of paying a small portion to members who joined earlier and keeping the rest to sustain the scam until they exit the market. Also, a genuine Crypto currency cloud mining site should provide the specific details that are related to their mining plans instead of providing vague information which does not let an investor know how much hash power they are buying for the amount invested.

While some Crypto currency cloud mining sites claim that their maintenance fees is quite low, meaning that their data centers are not costing them a lot of money to maintain, nobody can say for sure that this is the truth. Perhaps this is just a trick to market the site effectively. We have seen hundreds of sites before claiming that they have lowest maintenance fees when they are actually not even mining any Crypto currency in the first place.

Also, you should beware of Crypto currency cloud mining sites selling you fake calculator for pricing hash power. Their mining calculator are therefore far off the mark and you have to understand that this is a method which scam websites use to misrepresent facts and trick investors into sending them funds. You will get something different. In fact, in most cases there is no mining at all because the calculator does not represent what happens in the real world.

Getting started with Cryptocurrency Cloud Mining

In Crypto currency mining, you cannot generate stable returns in the long run because mining difficulty also rises. You either make your returns now and think of mining with a company that has invested in more hash power which they can sell to users who want to generate more Bitcoin.

Nothing is for sure. Therefore, before you sign up for a site, you will need to understand that it is like gambling and you cannot expect the best to happen if you have not received your profits yet.

The best course of action is to take precautions when investing with Crypto currency cloud mining sites. But if you are not fully confident or are not willing to take the risk, the best thing to do is to invest in reliable Crypto currency cloud mining sites that have been around for a while. There are a quite a few with social proof. These sites have been proven to generate returns for their investors although returns from Crypto currency cloud mining have been diminishing.

For you to make returns in Crypto currency mining, you should invest with companies that have invested in modern technology with regards to data centers. You should put your money where there is up to date data centers which are well maintained and are situated in a low temperature environment. Some of those Crypto currency cloud mining sites have been covered here.

Note: Most profitable Crypto currency cloud mining site is IQ Mining.

More details about IQMining

IQMining is basically a pay as you go form of  Leased hashing power clouding mining platform. While on the platform, you will have access to a wide network of data centres, which you will be able to tap into for Mining, depending on your Hash Power. So the more the network size you are looking to employ for Mining purpose, the more the Hashing power you will have to pay for. Also, the higher the Hashing power you have paid for, the more profit you should be looking forward to.

While on the platform, you will be provided with access to tools that mine a large range of crypto coins and token. For now, the IQMining platform offers to mine for about 100-150 altcoins, depending on the plan selected.

The most popular altcoins on the platform right now are: Zcash, Dash, Ethereum, Litecoin and Monero. These altcoins are considered to be the most profitable ones to invest in right now, so for avid miners on the network, this is a good list.

Once the altcoins are fully mined, the platform helps with exchanging them into bitcoins, which are then sent to the attached wallet address.

IQMining made it known that in order to reduce cost, the profits, income and investments are being secured making use of smart contracts. Massive data centres are also being used. They also claim to mine using their hardware (no rent) also power consumption and delivery time frames are protected by smart contracts.

As a result of this, you can rest assured that your return on investment will be three times more than other cloud mining services.

So far, a simple break down of how IQ Mining operates is all follows.

A. The IQMining service owns its data centres, and mining tools, which it rents out in exchange for hashing powers.

B.  The power owned by IQMining is now being used to mine a selection of the most profitable altcoins.

C. The mined altcoins are then traded for bitcoins which in turn get transferred to users personal wallets.

So once you decide to buy into any of the five listed plans, you have nothing to worry about. IQMining does all the heavy lifting for you while you sit back and count your coins.

Available Plans

Currently, IQMining has five plans which can be bought into.

  • Scrypt plan

Mining strategy:10 major coins

Minimum Hashrate:1 MH/s

Maintenance fee:0.005 $1 MH/s / 24h

Hardware:IQ mining SCRYPT

Payout:every day in LTC

Availability:In Stock

Contract duration:lifetime

Contract price:from $1.6 per 1 MH/s

Historical profit:47% a year

  • SCRYPT PRO

Mining strategy:100-150 altcoins

Minimum Hashrate:1 MH/s

Maintenance fee:0.005 $1 MH/s / 24h

Hardware:IQ mining SCRYPT

Payout:every day in LTC

Availability:In Stock

Contract duration:lifetime

Contract price:from $1.6 per 1 MH/s

  • SHA-256

Mining strategy:10 major coins

Minimum Hashrate:10 GH/s

Maintenance fee: 0.0019 $10 GH/s / 24h

Hardware: IQ mining SHA-256

Payout: every day in BTC

Availability: In Stock

Contract duration: lifetime

Contract price: from $0.6 per 10 GH/s

Historical profit:73% a year

  • SHA-256 PRO

Mining strategy:100-150 altcoins

Minimum Hashrate:10 GH/s

Contract duration: lifetime

Maintenance fee:0.0019 $10 GH/s / 24h

Hardware:IQ mining SHA-256

Contract duration: lifetime

Payout:every day in BTC

Contract duration: lifetime

Availability: In Stock

Contract duration: lifetime

Contract price:from $0.6 per 10 GH/s

Historical gain:128 percent per annum

  • ETHEREUM MINING

Mining strategy: ETH mining

Minimum Hashrate: 0.1 MH/s

Availability: In Stock

Maintenance fee: Nil

Contract duration: lifetime

Hardware: GPU Rigs

Minimum Hashrate: 0.1 MH/s

Payout: every day in ETH

Availability: In Stock

Contract duration: lifetime

Contract price: from $1.6 per 0.1 MH/s

Historical gain: 60 percent  a year

Payment Methods 

BTC, LTC, Zcash, Paypal, Webmoney,  Perfect Money, Credit/Debit Cards, kiwi, wire transfer etc.

How to get started

To get started on IQMining, you need to visit the home page located at IQMining.com.

On the home screen, you will find the “START MINING NOW” button.

Once you click on this button, you will be sent to a form page. Here you will input all your personal information.

Since IQMining does not provide its services to the Non-US resident, you are required to check a box at the bottom of the form to make sure of this.

Once you have filled the form, the next thing to do is visit your email and verify the email sent to you. After that, you can login to the platform.

Buying your first mining power on the platform is quite straightforward.

At the top of the dashboard, you will be presented with a list of plans to select from as well as the amount you will be making per day in USD on every MH/s you buy (hash rate).

The option to buy is located on the left side of the dashboard.

Once you click on the “BUY MORE MH/s” button you will be transferred to another page where you will make your payments.

Conclusion

Although IQMining is taking some negative heat on some major review platforms. So far all negative reviews we have gone through are based on logic and no actual proof of them being a scam has been presented so far.

Generally, cloud mining has a history of not performing well. Taking into consideration the drastic drop in price major coins have been experiencing since the start of the year, crypto mining might not be the right call at the moment.

However, if IQMining claims to deliver a profit factor which is three time what you will get elsewhere. This makes them the perfect choice for anyone looking opt-in for cloud mining.

Bottom line

They approved Crypo currency cloud mining firms on these page have proved to be quite reliable. Most of our readers who have used them claim that they have performed a few withdrawals ever since they signed up. There are also a lot of positive customer feedback out there. We do believe that these sites are currently the best.