Bitcoin Forum

Greetings! I'm on a quest to find some ethereum & bitcoin cash mining sites/apps that have a considerably lower threshold for minimum withdrawal My plan is to reach whatever the would-be minimum payout thresholds, add it all up and then sell the crypto. I'm looking to setup as many as I can to get ideally $4,500 - $6000 in Crypto as quick as possible; then sell the crypto. The money I received then will go towards groceries and anything else beyond. Such as investing in the best paid online traffic methods in efforts to make money online via online content creation. I've recently been spending some time devising strategies and formulating plans to make money working smart rather than hard.

If not, could I in any way make this work with any other cryptocurrencies? Thanks!

Sadly, most of the cloud mining websites today are likely scams. That's why if you ever to invest into them, expect that it's not going to be good on your end.

Like the gig economy, you can look for clients and have them worked by someone else which is called outsourcing. Yeah, that's working smartly.

There's no other way than these; trading, staking, and real mining through GPU and ASIC.

Cloud mining has been always a waste of time and money. If you setup a large number of smartphones to mine on those apps you are probably going to lose money due to expensive electricity and devices' detrition, when compared to the income paid by the apps. Paid online traffic is another thing you should be careful. I'm sure ads won't pay fake traffic. They want organic traffic, and once you are caught cheating payment is going to be denied and your account is going to blocked. You can create crypto content, that is legit, but you also need legit audience to your website.

i hope the OP is reading the posts here. because for me, don't invest on these cloud mining sites. instead of gaining, you will lose money on this type of investment. the target amount of the OP is also big, don't know if he can ever achieve such amount. also, don't be tempted by the offer of the site, like high ROI at a short period of time, more then likely, you will end up rekt by this site. there's no easy money on this market.

You are very late to the party, for many years the members of this forum have known that cloud mining is just a Ponzi scheme and nothing more, in the best case scenario you could find a company which actually has mining equipment and you buy some hash power out of them, but when we add all the costs it is almost impossible you make any money, in the worst case scenario, which is also the most common, nothing like that exist and whatever money you believe you are earning comes from the next people that decided to invest in the scam, however as it has been demonstrated over and over again this is not a stable model and eventually collapses.

Cloudmining is mostly a scam, lots are scam sites but there are still legit ones.
https://www.softwaretestinghelp.com/bitcoin-cloud-mining-sites/

Genesis mining
Hashnest

These are the two are long time running.I dont know and i havent checked out on how long would
be the ROI.It would be better to buy those funds into bitcoin and simply hold off for long term.

unfortunately, you will not benefit from what you plan. cloud mining will take all the money you have deposited to the site. instead of marketing a pretty high return, but that you'll never get.
It would be better for you to put the money you have into the casino and play with your luck than for you to deposit it into cloud mining. or maybe you prefer staking on the exchange, although that is also quite risky.

Yes, years ago fake cloud mining sites were very popular and offered high interest rates. They were in fact ponzi schemes. The greediest ones used to last few days or weeks, the humblest ones used to last a month or few months, depending the rates proposed by the scammers. The systems were elaborated and showed real time results, that is, the coins being hypothetically mined directly to your balance every second.

This concept incentivized and tempted many enthusiasts to invest and watch the coins coming in to their wallets.

Some people achieved ROI, but without any doubts, for most investors it was a complete loss.

When I read this, it's not cloud mining as a concern but your mindset in getting quick profits.

For let's say there are legit cloud mining nowadays, I doubt you can achieve that target profits quickly.

Unfortunately, most cloud mining service is a crap today. And even if there are legit, as I said, what you are expecting is insane.

As others have said, cloud mining is dead, specially in this bear market, I don't think that you will make a profit and you don't want to fall for scam cloud mining as there have been a lot in recent years.

So the best thing to do is to stay away from cloud mining, it's no longer profitable as when in 2018.

Might be better for you to just invest your money on solid altcoins and then hold for the long term. At least the risk is that that huge as compare to looking for cloud mining as passive income, in my opinion.

Cloud mining is not a good method nowadays to earn crypto or bitcoin. Maybe in 2016-2017, I can still say that somehow it is possible to earn cryptocurrency, but now it is not effective because it usually ends up being a scam dude.

Now, if you want to make money doing almost nothing but you will earn bitcoin, it is better to just buy your mining rigs as long as your electricity consumption is low in the area or country you are in because it is necessary that the mining rigs are in a cold place or else if it's hot it's sure that its electricity consumption is high.

Or if you don't have enough to buy mining, you can also trade every day and just check 3x a day, it depends on you what time you check to see if it's sold or when you buy crypto, that's the only way you see it.

I am not sure of genesis mining is still running till date but I am sure hashnet still functions but cloud mining is not profitable for the companies themselves so they quit, that's what I heard.

Any new project or company promising returns are scammers, they have no equipment they using for crypto mining, they are simply running a Ponzi scheme.

With a sizable amount of money that you want to get as quickly as possible, you also have to prepare big funds for initial capital too, but unfortunately in cloud mining you will only end up losing because all cloud mining is a scam, they don't run mining companies, they just run ponzi schemes like HYIPs, new members who register and deposit money will use the money to pay old members and so on and when no one is making deposits they will come out as a scam.
Don't waste your money, if you have capital it would be better to make your own mining setup if it doesn't go according to the target the equipment can be sold and you only experience a small loss.

The only legit cloud mining out there can only give you a small profit and it takes really long time to generate those unless you gonna pay a huge amount of money buying hashrates but this is risky because you never know if they gonna turn out to be scams in the future without getting back your capital. It's better to learn to trade than invest in this so-called passive income which has been red-tagged throughout the bitcoin years as scams and frauds.

I haven't seen any cloud mining site that would be profitable or if it claims to be, it's always a scam. And i have looked.
And the reason for it is obvious:
If cloud mining would be profitable, they wouldn't sell that service but just keep the mining profits for themselves. Otherwise they would be making loss

Even every cloud mining icos that have been looking for investors to build server farms have been scams or failed, so that should tell you something.
Only way for you to get profits by minining is either renting your own mining rig or find something that's profitable to mine.

Investing in cloud mining is very risky. It is less risky to invest in uniswap pools, for example, in a pool with pairs of stablecoins USDT, USDC, DAI.
But here you run the risk of scamming one of the stablecloins or hacking a smart contract. Profit up to 15% per annum.

I saw your thread on the Mining board, Cloud mining for bitcoin (https://bitcointalk.org/index.php?topic=5421382.msg61301790#msg61301790).

As how that thread goes, the answer is, it is very unlikely that you found such platforms to meet your goal. Cloud mining is generally shady, and expecting a fast profit makes your goal likely impossible. You can't mine on ETH since it has already been merged into PoS, and BCH has no future.

Bear in mind, the motive to earn quick cash is where many people fall down in this space, and what you are seeking is unreasonable since the current cryptocurrency mining profitability is in a low season.

@OP, have you seen this news? HashFlare founders arrested in ‘astounding’ $575M crypto fraud scheme (https://cointelegraph.com/news/hashflare-founders-arrested-in-astounding-575m-crypto-fraud-scheme)

If you haven't, hashflare is a cloud mining that has been there for a long time. But they've just been arrested recently, the problem is despite that they've been operating for long and there has been call outs from the community that people shouldn't invest on them.

The authorities were quite late on arresting them.

How did I get stuck in cloud mining, basically I didn't know anything and just looked at the ROI that was given, while we didn't know the risk was big enough to lose everything, so it's better to stay away from cloud mining many people have warned here.

That's not a good suggestion either if you enter the casino just looking for luck whereas how he doesn't want to lose his money, so it's better to trade or invest in bitcoin, it's quite safe than cloud mining.

Haha, I remember when I'm using their service and never find a way to makes a withdrawal since they are always change the minimum terms to request a withdrawal. Until i they are turn as a scam i never get my money  ;D

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@OP with your current money, you don't need to use cloud mining to get BTC, just trade it, with trading skill you can increase your BTC. if you don't have a skill to trade, just hold it and save your BTC to your own wallet (electrum or Bitcoin wallet). If you wants to buy an altcoin, and wants to increase your holding, try to find altcoin with staking feature. such as Cardano, Uniswap, Pancakeswap. But same as using cloud mining, if you wants higher rewards, you need to invest more.always DYOR and DWYOR before you make a decision.

Cash mining? This isn't the good old days anymore unfortunately, OP. Even faucets which is another way to get some Bitcoin are not worth it anymore unlike back in the days. You would be better off day trading or long term holding rather than pursuing these sort of "generators".
Maybe start your "online content creation" in Youtube first, monetize it, then invest those earnings in crypto or possible a mining rig if you are after mining by your own. Can't give you further advice in Mining since I have not done that yet by my own.

You probably missed the news Binance just recently launched a cloud mining service, but all packages were sold in just a few hours.If you are interested, then monitor their website and maybe you will find what you are looking for.

I think its all are fake because in the start they will say start your mining and they write a number which you reach then withdraw your amount and you will reach the given figure so they say need a fee if you send fee so they can't give you your reward so according to my experience is that stay away these type website they can't give him profit.

It seems that your wish is the same as mine.  I also have always been looking for eth and btc mining sites that give results quickly.  However, it seems that it is very difficult to find it, especially if the site we are referring to is without making a deposit first

How much was your money there? So, there's already that change of terms that they do frequently. That's already a red flag and yet they haven't been taken down too early during that time.

Well, that has brought them down and they're in jail now. Hopefully, that they wouldn't be granted any bail on this case and that's going to be the payment for the people that they've done wrong.

Not much, I invested less than $100. So it's not so painful even if they become a scam. However, as long as I am a member, I have earned around $100 from mining excluding capital. But it is only nominal as there is no way to make withdrawals.


ETH has moved to the stake method, if anyone offers ETH mining, it's 100% a scam. BTC mining, you should buy your own mining hardware, don't use the cloud, because cloud mining will only lead you to become a scam victim too. There are no quick results, every mining service if offering you instant/quick/fast ROI 100% i'm sure its a scam.

I once joined many cloud mining programs from 2014, even I knew cryptocurrencies because I was originally interested in investing in cloud mining that gave ROI's promise in just 3 months, initially it was proven even after getting a referral I got a lot of profit, but this made me add investment but eventually becomes a scam.

After reading your title itself I was like - NOPE. You might know this but cloud mining is oldest scam you can ever find in the crypto community. Before 2017-18 it was really on the boom and many peeps got looted for their investment. That is get quick rich scheme and it’s better to stay away from it.

Experience- Swiss Alps Mining company. They literally gone so far that they sat up real mining blocks in Greenland and shown their logos, peeps working around and what not. It was so trustworthy project but slowly it turned out to be scam. Better think 100 times before joining.

Yeah, cloud mining is one of the oldest scams in the crypto community. There are lots of developers and companies that took advantage of cloudmining scheme to scam people.  If anyone of you remember PBmining, Hashflare and more.  If anyon is not convinced that cloudmining often exploted by scammers, you can refer to this articles:

Crypto Scam Continues, 31 Duped In A Cloud Mining Scam (https://inc42.com/buzz/crypto-scam-continues-31-duped-in-a-cloud-mining-scam/#:~:text=INR%2045%20Lakh.-,The%20victims%20allegedly%20invested%20their%20money%20via%20a%20cryptocurrency%20cloud,maintaining%20expensive%20crypto%20mining%20equipment.)
Seeking Victims in the HashFlare Investigation (https://www.fbi.gov/how-we-can-help-you/victim-services/seeking-victim-information/seeking-victims-in-the-hashflare-investigation)
Two Estonian Citizens Arrested in $575 Million Cryptocurrency Fraud and Money Laundering Scheme (https://www.justice.gov/opa/pr/two-estonian-citizens-arrested-575-million-cryptocurrency-fraud-and-money-laundering-scheme)
and many more


It is a good thing for CEX.io to change its service before they are forced to turn scam.  CEX.io is possibly the largest cloudmining service during that time, even though the largest they still unable to sustain the service reason why it changed from cloudmining to bitcoin and crypto exchange services.

People are just finding an easier way to earn profit. Mining is indeed profitable but it won't be cheap such as with cloud mining. Building your own rig would be the best if you are really interested with mining but considering the value of Gpu's for sure it would cost you not only dimes. Another factor is electricity wherein it is also expesinve to some countries such as with mine. A friend of mine living on the same country tried to do so. Well he now manage to get procit from ASIC and GPU mining but it cost him a lot. He needed to buy many in order to cope up with the money he used for resources and equipments. In short, cloud mining it too ideal and unrealistic especially nowadays.

After I was exposed to several cloud mining sites, I was no longer investing in cloud mining, and I suggest not to invest in cloud mining because of the huge scam potential, if at first they paid then when they got a deposit from investors then they immediately became a scam, Beware.

If you think cloud mining will make you to earn daily profit without doing anything except initial investment, you're wrong since there's no such free money in this world. If you have money and want to mine, it's better for you to earn about cryptocurrency especially Bitcoin and then learn how to mine, how to take care your mining rigs, how to calculate the profit etc. You can also earn if you live in cheap electricity cost and know what you're doing, without using scam cloud mining.

Most people here are right, it's now too late to invest in cloud mining or use service like that as it would most likely a scam or otherwise not a good investment. If I can remember some people invested $300 or something like that and he earns I think lower than that or just $5-10 monthly profit. If you would like to have passive income I suggest to stake on Binance, that's way more safer than investing to cloud mining (just my opinion). But still, consider the platform on where you're going to invest to avoid getting scammed.

This is just another example of people which are not willing to leave behind the convenience of the fiat system but still want to earn money in this market, if people want to mine bitcoin or any other coin then they need to buy the equipment necessary to do it, this idea that they can rent the hash power from other miners to get profits is ridiculous, and yet newbies want something like this so scammers give to them the illusion this is possible only to scam them in the end.

From the very beginning days of cloud mining it isn't possible to find a single cloud mining platform to be trusted. Every platform gives attractive earning chart and the same mesmerise the beginners into the market without understanding the reality behind cloud mining.

First everyone should understand about mining. There are hosting services provided at specific terms and conditions. Some of the trusted members of our forum is doing it with perfect data shared at specific time interval. Such kind of services can be believed against the cloud mining which is a scam approach from the beginning. It was at its peak during the year 2018.

In my opinion OP's biggest mistake if you invest in a cloud mining site. I understand that you want to make money fast, but investing in a cloud mining site is a bad idea.

The reason is quite simple: it is difficult to actually make large amounts of money in cloud mining within a target of say $5000-$6000. I think, unrealistic target.

Basically, rivalry cloud mining is trying to cut costs and sell more hashrate than their competitors, and profit margins, so it's impossible to achieve big targets. If you have money to spend on these sites, instead of losing it, why not buy some altcoins from an exchange and keep them for a few months or take profits in small increments. Especially now that the market is on the rise.

If you believe that you will get huge Profit to invest in Cloud mining site but you are wrong you will lost all you money because Cloud mining site almost all site will be fake and scam. They don't pay if you invest in these site.