What coin and service to use for cloud mining

[Tjaabba]

Hello guys I want to start cloud mining but I have some trouble to chose what coin and service I should choose. Could you guys give me any suggestions which service to use and what coin type. I have just $60 on paypal to start with so not a too expensive service

[Tjaabba]

I have seen https://www.genesis-mining.com but they only have Bitcoin lifetime mining servers left

[Amph]

hashnest is pretty good, choose the hash based on the machine(s7) and let them running everything, don't order the machine, and anyway not the pacmic

roi is possible but is a very long way to go

[achow101]

I would not recommend doing any cloud mining since the vast majority of cloud mining sites are scams. They claim to be cloud mining but are really just ponzi scams and at some point will run away with your money. There are a few legitimate ones, one of which is hashnest, which I have heard is one of the best.

[Mickeyb]

Yes, I second this about Hashnest. I have heard that they are legit. I also second this part about not doing cloudmining at all, since even with Hashnest, you won't be making much money, if barely any.

Problem with cloudmining sites is that they all eventually go bust. They all pay up to a certain point and then when they see they are not profitable anymore, they will not just admit it and refund your money but they will screw you up. They just stop paying. So beware!

[Ceizer54]

as you said you have $60 in paypal,i don't think any cloud mining site will accept paypal as it is easy to reverse

[achow101]

as you said you have $60 in paypal,i don't think any cloud mining site will accept paypal as it is easy to reverse

eobot does, but I question their legitimacy. If you use paypal, they don't allow you to withdraw any earnings for 180 days.

[Ceizer54]

as you said you have $60 in paypal,i don't think any cloud mining site will accept paypal as it is easy to reverse

eobot does, but I question their legitimacy. If you use paypal, they don't allow you to withdraw any earnings for 180 days.

yes that's may be because paypal transactions can be charged back upto 45 days but i don't understand why they have 180 days for withdraw..Is eobot really a legit site mate?

[Tjaabba]

well do you know if genesis mining is legit?

[achow101]

as you said you have $60 in paypal,i don't think any cloud mining site will accept paypal as it is easy to reverse

eobot does, but I question their legitimacy. If you use paypal, they don't allow you to withdraw any earnings for 180 days.

yes that's may be because paypal transactions can be charged back upto 45 days but i don't understand why they have 180 days for withdraw..Is eobot really a legit site mate?

Eobot has been around for a long time, so it may be legit. However, it is hard to tell since they are not very transparent. It is possible that they could turn out to be a scam like several other sites that were around for a while did.

[Tjaabba]

but guys anyone know if genesis-mining.com is scam? It seems a bit suspicious with lifetime plan

[achow101]

but guys anyone know if genesis-mining.com is scam? It seems a bit suspicious with lifetime plan

This thread should help https://bitcointalk.org/index.php?topic=878387.0. You should use some of the stuff in it to help you determine whether cloud mining sites are legit. It says that genesis-mining is probably legit. But again, you can't know for sure, so please be careful with your money.

[ranochigo]

but guys anyone know if genesis-mining.com is scam? It seems a bit suspicious with lifetime plan

Genesis mining have an on going scam accusation.
I don't recommend you to use cloudmining as they are either scam or their fees is too high, hence the profit is close to impossible. If you really want, try hashnest.com, backed by bitmain. I have a contract with them it isn't likely to ROI but I have got more than half of my invested amount back.

but guys anyone know if genesis-mining.com is scam? It seems a bit suspicious with lifetime plan

This thread should help https://bitcointalk.org/index.php?topic=878387.0. You should use some of the stuff in it to help you determine whether cloud mining sites are legit. It says that genesis-mining is probably legit. But again, you can't know for sure, so please be careful with your money.

It wasn't very accurate as it listed AMHash as legit before and it turned scam. It wasn't updated for a long time too.

[VirosaGITS]

well do you know if genesis mining is legit?

I would probably stick to Hashnest since that's Bitmain's if you really want to help a 3rd party make money. Cloud mining by default mean you're helping someone make money over you making money yourself.

If you want to make money but not have your miner at home, look at miner hosting service. The maintenance fee in Cloud mining services are way too high and you'll generally barely break even and then make marginal profit, if you're lucky.

[vendetahome]

i dont recommend using any cryptos for cloud mining as its nearly not profitable and its a high risk to loose money as such companies really often turn to a scam and steal money

[Bitcoinless]

Mostly Hashnest.
There's exit strategy and they're very transparent.