Bitcoin Forum

IS mining on CEX.io is profitable for small scale?

 I am currently mining on cex.io with 4 GH/s only is this worth

any other site which is providing lifetime validity

or investing in new coins is profitable

Well you can also trade and mine.

I would recommend watching the price of GH/s while you mine and see if you can profit on both sides.

CEX.io isn't a cloud mining site, it's actually a trading site.

Buying small scale GH/s won't net you any profit at all.

What you have to do is buy a decent chunk of GH/s when the price is low, then after a significant price increase, trade in your GH/s.  You'll profit on the price per GH/s difference.

But just straight cloud mining for profit, no way in hell.

No way you can profit in cloud mining, there is only profit for those, who sells you those gh/s.

Sell your GH/s in Cex, move the BTC to an exchange - trade BTC/fiat - the worst case scenario is that you lose out on jump in price or possibly the exchange runs with your money.  Trading on a cloud mining platform only adds to the risks one is exposed to and doesn't offer any major increase in profit for that risk.

ok thanks friends for telling me thanks again i am getting 0.01 btc profit now in some site daily

This might be true for some sites but I've run the numbers on the site that's in my signature.  If profitability is less than 17% this coming increase then you will profit.  Plus they seem legit unlike a bunch of cloud mining sites.

The issue with mining contracts is you can't resell the GH/s, so you're stuck whether or not it is profitable.

At least with CEX you can sell back the GH/s. There are even some trade bots that will automatically buy and sell based on the price swings. There's definitely opportunity there, but with contracts your BTC is gone.

If you're holding mining contracts for that length of time you're doing it wrong.  Mining contracts can make you a lot of money if you use them correctly - targeting pump and dump new coins.

I was about to rent a mining rig but didn't know about cex.io and the possibility to sell the mining power, I'll try this one.

Not worth it with 4ghs

Doesnt matter if it small scale or big scale it is still not worth it to buy hash from cex.io..

Look at it from both points of view:

Trading - GHS' depreciate.  This much should be obvious, as new more efficient mining hardware comes to market, and the hashrate of the network grows, yours is worth less.  Good rule of thumb is don't buy assets that are nearly guaranteed to depreciate.

Mining - currently BTC0.0046/GHS.  Need I say more?

People were running the numbers on the site in my sig and apparently if the diff increase is less than 17% you'll make a profit, so I'd check them out.  They seem fair and have everything laid out in their thread, with costs and fees so that you can judge for yourself.