Is cloud mining safe?

[Bee Leb07]

I have heard and also read in various threads that mining is too risky. The invested money can all be gone with a blink of eye. Actually i am not sure wither i should do it or not. If i invest, then is there any chance to loss all the money?

If i invest, then what should be the amount first?

And in which sites would be better to do mining?

[mocacinno]

I have heard and also read in various threads that mining is too risky. The invested money can all be gone with a blink of eye. Actually i am not sure wither i should do it or not. If i invest, then is there any chance to loss all the money?

If i invest, then what should be the amount first?

And in which sites would be better to do mining?

You are talking about cloud mining... In this case, yes, 99% of the cloud mining companies are scams. The rest sell you all their risk for a small part of the profits...

Actual mining is completely different: if you do all calculations and risk assesements beforehand, you're reasonably safe

[Bee Leb07]

I have heard and also read in various threads that mining is too risky. The invested money can all be gone with a blink of eye. Actually i am not sure wither i should do it or not. If i invest, then is there any chance to loss all the money?

If i invest, then what should be the amount first?

And in which sites would be better to do mining?

You are talking about cloud mining... In this case, yes, 99% of the cloud mining companies are scams. The rest sell you all their risk for a small part of the profits...

Actual mining is completely different: if you do all calculations and risk assesements beforehand, you're reasonably safe

Thanks for your suggestion. But can you tell me that from which sites i should start safe mining?

[fusion0389]

I have heard and also read in various threads that mining is too risky. The invested money can all be gone with a blink of eye. Actually i am not sure wither i should do it or not. If i invest, then is there any chance to loss all the money?

If i invest, then what should be the amount first?

And in which sites would be better to do mining?

If you dont own the hardware, then its basically a scam. I've known some folks to have good luck with Hashnest, but they barely broke even.

[xbugitox]

If you're talking about cloud mining then investing your money in ANY cloud mining site is risky. Yes, there are some cloud minings that pays but they're still sketchy if you ask me because anytime at any day, they can close their site and run away with your money. So if you're interested in mining, i suggest that just build your own mining rig.

[pawanjain]

Whatever my friends said above is true. Most of the cloud mining websites have been made just to scam people and your money might vanish overnight and you could do nothing for that. If you want to try how cloud mining works you can join Eobot at www.eobot.com . Its a free site but pays very little unless you invest in it. I wont recommend you to invest in it but you can just try it out without investment. Dont mine any coin, build your GHS by mining GHS and get faucet rewards daily. It will take you 1 month to build 1 GHS after that you can diversify and mine any coin besides you GHS.

[sulendra12]

Thanks for your suggestion. But can you tell me that from which sites i should start safe mining?

Cloud mining or for more precise mining on the cloud (web) is 100% scam and even they are legit it takes forever to pass ROI. If you would like to mining, better to buy your own mining rig and make a setup by yourself with your management and community from here than risk your money with cloud mining.

[frowsiter]

This is really been asked at least hundred times in this section and in the mining section too.

There is no such thing like cloud mining because they don't really exists. They pose like they are mining but there are no hardware in the background and you just see numbers and calculators on the website which makes you feel like you are mining something. The idea is ponzi kind of and must not be trusted.

Recently seen pictures of hashflare rigs, the team working on it but I don't believe in pictures too. So just be aware while investing, rather go for trading or simply do campaigns.

[yndye]

I have joined "cloud mining" before because there are so many people who recommended it in the social media that says it pays everyday, a big percentage of up to 10% of your capital and it's really enticing so I joined being only a newbie who wanted to earn. Yes I got back what I invested but being greedy I reinvested it again so I can earn more. After a few days, their site cannot be accessed anymore and so many people have been scam! Yes it is a scam so don't believe any cloud mining or HYIP sites cause more often than not they are scam. They will just pay at first then later on when they got enough coins, they will be gone.

[Tyrantt]

There were a few ones that were legit, cex.io and some russian cloud mining service and I've made ROI on both of them. Tho today, the cex.io has seized it's hashrate selling because of the fees and maintenance,etc..  Today cloud mining services aren't viable at all.

[harizen]

I have heard and also read in various threads that mining is too risky. The invested money can all be gone with a blink of eye. Actually i am not sure wither i should do it or not. If i invest, then is there any chance to loss all the money?

If i invest, then what should be the amount first?

And in which sites would be better to do mining?

With the response you received above Im pretty sure you have gained some idea now.

But you know there is "real cloudmining" but considering the current bitcoin mining difficulty and rewards, even we have lots of legit cloudmining operation around, it's really not profitable to invest on those today. And how much you will invest; BTC0.01, BTC0.05, BTC0.1? That's not enough.

Better find other method to earn bitcoin and forget passive income for now. Work for it actively than rely on other services that will automatically gained you profits.

[giveen]

It's not safe at all you may say that genesis and hashflare is online for few years i agree with you but if you just make a search of hashocean that was a cloud mining service giving roi in 3 months it ran for 2 years running a ponzi , genesis mining doesn't claim to have a fixed period for a roi but from the past history of cloud mining it's all scam and imagine it will take a year to get your money back then what's the use of mining you can earn 2-10 times your funds in a year if you concentrate on trading.

[el kaka22]

If you want a straightforward answer, of course cloud mining is safe, but most of the cloud mining websites are fake. I would advice that before making a decision to invest in mining, you keep reading about how it works in the forum, understand every bit of it and then proceed.

If you just ask for websites, there are many paid posters and paid accounts, which will suggest a particular website or a group of websites. Then there is the risk of people posting something random just to increase their post count and activity.

[savioroshan]

Genesis mining is a good site. I have tried that site. I reached my roi with this site. But I think it's better to get btc from any exchange  and keep it in your wallet if you have money. Because you won't get much or any profit if you invest in cloud mining sites and it may take a year to reach roi. But if you buy some btc and keep in your wallet , after one year you may get double or triple profit.

[mrcash02]

If you want to invest a large sum of money to earn passive income I suggest FreeBitco.in site. It's a hybrid faucet with Dice game and some extra features. Site working since 2013 and since some months ago they started paying interest over your balance there (0.01% daily).

It's much better than cloud mining sites, and why? Because you hit ROI since the beginning of the investment, after the first day the profit is already positive, different from cloud mining sites where you wait forever to hit ROI (to recover the same amount of coins you invested).

[iram1011]

I have heard and also read in various threads that mining is too risky. The invested money can all be gone with a blink of eye. Actually i am not sure wither i should do it or not. If i invest, then is there any chance to loss all the money?

If i invest, then what should be the amount first?

And in which sites would be better to do mining?

Most of the cloud mining companies are scam. Some which aren't, it is never profitable to invest in them. You will just keep on waiting for your returns. With all that huge fees they will rob you of your money. Stay safe and instead buy some Bitcoin and hold. You will enjoy better ROI.

[Ultegra134]

Nope, I would advise against investing any money in cloud mining, many of these "companies" keep popping up with their Ponzi schemes offering high ROI and so on, there might be a fee legit ones which you could potentially check, but I am not really into that, it's similar to gambling.

[piloder]

I have heard and also read in various threads that mining is too risky. The invested money can all be gone with a blink of eye. Actually i am not sure wither i should do it or not. If i invest, then is there any chance to loss all the money?

- Yes it is very risky
- If those cloud mining services don't have any mining hardware than they are just hyip so they might go offline overnight just like hyips.
- You shouldn't invest in cloud mining (fake/virtual mining), buy real mining hardware and mine it yourself.
- You might have to wait for more than a year to get back your initial investment even if the site where you have invested are providing legit service.

[jossiel]

I have heard and also read in various threads that mining is too risky.

You heard it right and mining (legit) is risky today if you don't have your rigs to mine for and you just suddenly think that it's a profitable one. But if you are referring to cloud mining, 100% it's risky and not recommended.

The invested money can all be gone with a blink of eye. Actually i am not sure wither i should do it or not. If i invest, then is there any chance to loss all the money?

You had already said the answer on your question 

If i invest, then what should be the amount first?

Go for trading instead and not for cloud mining.

And in which sites would be better to do mining?

Cloud miners are trusting genesis mining but just like hash ocean it can runaway anytime.

[ethereumhunter]

If i invest, then is there any chance to loss all the money?

yes there is a chance for you to get loss all the money so if you want to invest in cloud mining better you search first before you invest.

If i invest, then what should be the amount first?

the amount is depend on how much you are ready if one day the cloud mining site is scam so you don't regret for investing in that site.

And in which sites would be better to do mining?

in my opinion, genesis mining, hashnest is still legit but i don't know about their future, they can scam you too because there no company that will stay forever and you should know. at least, i get ROI in that site.

from all of this, i think its better for you to learning trading like above me said or you can buy bitcoin and altcoin and then hold it for a year. but for me, i'd better to do trading because this is my chance to increase my bitcoin.