Cloud Mining recommendations

[Rikafip]

Is it really true what you are saying? Minimum investment should be 5 bitcoins? I don't think this is serious. Or did I not understand the issue correctly?

I have no idea where he found that 5 bitcoin requirement. I just checked the link he shared and they only have explanation how to join mining pool, there's no mention of some minimum bitcoin investment.

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[yhiaali3]

Is it really true what you are saying? Minimum investment should be 5 bitcoins? I don't think this is serious. Or did I not understand the issue correctly?

I have no idea where he found that 5 bitcoin requirement. I just checked the link he shared and they only have explanation how to join mining pool, there's no mention of some minimum bitcoin investment.

Yes, I also checked the link. There are no details about the minimum investment. I expect there is something wrong because 5 Bitcoin is a large amount, equivalent to more than 270K$ currently!!! It is absolutely unreasonable for this to be the minimum.

The only possibility is that this is the maximum investment limit and not the minimum, or there is a misunderstanding.

[Z-tight]

Hello, I'm looking for recommendations (based on first-hand experience) for legitimate cloud mining companies.  I'd appreciate any input, thanks.

It is recommended that you stay away from cloud mining, i know you thought you could make returns from it, but no, you will either be scammed or you will just waste your time and lose money. If you want to mine, you have to buy mining gears, generate your own hashrate and either join a mining pool or solo mine. However, if you do not have the resources to mine, just buy BTC using the dca strategy and accumulate the amount of coins you can afford.

[stompix]

I still stand with my original line of that there is not such thing as a legitimate cloud mining operation. Maybe I would add the word profitable in that too.

Sorry but that wouldn't work either, you would need to add always profitable to exclude all services.
Bitdeer was quite profitable during both the uptick in early 2021 and the downturn in 2022, Binance would have been profitable if you would have invested at the start as contrary to what was expected the dif hit a flat spot then, so....Just because 99% of them are scams that doesn't mean all are, a legally and normally run cloud mining company would make no difference from a company building it's mining farms with investors money.

Bottom line, there are legit services also!

Is it really true what you are saying? Minimum investment should be 5 bitcoins? I don't think this is serious. Or did I not understand the issue correctly?

I have no idea where he found that 5 bitcoin requirement. I just checked the link he shared and they only have explanation how to join mining pool, there's no mention of some minimum bitcoin investment.

I have no idea why anyone would think kucoin even offers that since that page is just a tutorial.

[Uhwuchukwu53]

Good luck with that.

Most members here avoid cloud mining because of the amount of cloud mining scams and/or the very likely possibility that it's gonna be unprofitable.

I concur to this your opinion because cloud mining is of two sided allot of scan is associated to it beside one may not really know the outcome. In my opinion having five BTC and still seeking for cloud mining is not a good idea to follow, I believe if you can venture mining farm can look for one or two person who have interest to partner with.

[Rikafip]

I have no idea why anyone would think kucoin even offers that since that page is just a tutorial.

I guess we have to wait for @sheenshane to explain us where he saw cloud mining on that Kucoin pool mining tutorial page he shared.

[examplens]

I have no idea why anyone would think kucoin even offers that since that page is just a tutorial.

I guess we have to wait for @sheenshane to explain us where he saw cloud mining on that Kucoin pool mining tutorial page he shared.

Word mining is the biggest trick in this type ^{cloud mining} of fraud. Almost everyone knows that cryptocurrency mining exists and that many have made serious money through it. That's why it's easy to sell the story to the ignorant through cloud mining, even if you can make a parallel with big services like Binance or Kucoin, it can sound quite convincing.
I would not recommend any service that I have not personally tried. I also assume that shesha has never used Kucoin's mining service

[Rikafip]

I also assume that shesha has never used Kucoin's mining service

As far as I know (I checked their website and couldn't find anything of that sort, but maybe I missed it), Kucoin doesn't offer any type of mining, they merely have tutorials on it.

[Potato Chips]

As far as I know (I checked their website and couldn't find anything of that sort, but maybe I missed it), Kucoin doesn't offer any type of mining, they merely have tutorials on it.

Did some digging and found kucoin used to offer cloud mining -- emphasis on "used to" so perhaps there was some confusion on sheenshane's end? Minimum shouldn't be 5 BTC as well.

Their cloud mining biz was so fleeting so I'm not surprised this is my first time hearing about this. If I'm not wrong, the timeline started on 2022 and ended on 2023 lol because earliest stuff I could find were all on 2022 and then there was this 4 month old reddit post implying it's long gone, see: https://www.reddit.com/r/kucoin/comments/17ohffa/kucoin_screwed_bitcoin_cloud_mining/

[stompix]

Their cloud mining biz was so fleeting so I'm not surprised this is my first time hearing about this. If I'm not wrong, the timeline started on 2022 and ended on 2023 lol because earliest stuff I could find were all on 2022 and then there was this 4 month old reddit post implying it's long gone, see: https://www.reddit.com/r/kucoin/comments/17ohffa/kucoin_screwed_bitcoin_cloud_mining/

You've got to be ****** me:

As we explained before,If you bought cloud mining product, kindly note the capital will not return.

For real?

As for the timeline, maybe only 5 months in 2023?
https://www.kucoin.com/news/en-kucoin-pool-launches-the-cloud-mining-partner-recruitment-program

03/27/2023, 13:16:03

https://blockworks.co/news/kucoin-mining-pool-halt-operations

The pool will suspend operations on Aug. 15 at 12 pm ET

They closed it at the same time as Viabtc, June and July were terrible, the income dropped to some 6 cents/th, just for comparison one year before they were at 12 cents and in 2021 at over 30cents.

[Fredletter]

Thanks for the replies.