Is buying GH/S on CEX.IO worth it?

[AlextheBitcoiner]

The title says it all.
Is buying GH/S on CEX.IO worth it?

1). Is it a profitable investment?
2). How can CEX.IO charge only 1 cent for a GH/S?
3). Should I keep my GH/S for myself or should I sell them?

Please assist me in this decision
making progress. Thank you!

Best Regards,
- AlextheBitcoiner

[K0b1]

Unless you are trading it actively and enough experienced with the mechanism of trading in general I would say don't touch it.

As investment it is absolutely not worth it !!!

[beatljuice]

Yes, you can make money with CEX.IO hashing for you - especially if you want to try your hand at the trading end of it.

Is it the best way to make money cloud hashing? I don't think so. I moved my hashing power over to PBMining, had 2 weekly payouts so far so it seems legit to me. If you want to try it there is an affiliate link in my sig.

[CLOUDMINING.GURU]

We don't think it is worth to buy GHS on CEX.IO anymore.  Maintenance fee is way to high per GHS, currently: 0.00045฿ per GHS/Hour.
GHS price on CEX right now only knows one way - DOWN!.

With the new trading fee it is unlikely to make a profit even though you might be an advanced trader.

Check out our site for some cloud mining reviews, we also have an article about CEX.IO -> https://cloudmining.guru

[beatljuice]

It all depends on what you want. If you want to experience mining first hand buy a rig - it is probably the most profitable way to go. It should pay for itself in a few months and then all you have to pay for is power and a little time checking on it, or maybe restarting it if your internet or power goes down temporarily. You also have an asset that does go down in value very quickly but still an asset that you could sell in 6 months. It can heat your house in the winter too! Unless you're worried about the chemical out-gassing. Also, buying hardware has a waiting period. Even if you can find a good deal on one that is in stock (unlikely) you will probably wait a week for it and in the week the difficulty will likely increase and the money you could have made that week is just gone, and that's the best case scenario.

Cloud hashing cost more up front but you don't have to worry about anything, you can just let it sit and make you money, plus it starts making you money now, not next week, or 2-3 months down the road assuming the hardware company even delivers the product.

[R.g.rauschenbach]

My posts were deleted?

[cloverme]

To answer your questions...

1) No - People will say you can "profit" by selling your GHs as a commodity, but even then, with the rise in difficulty, your GHs decline in value quickly. It's not worth it, it's the equivalent of magic beans.

2) A single Ghs is not worth a lot of money to begin with, not much you can do with it.

3) If you purchased anything from CEX.io, sell and get as much as you can back. If you want to mine, buy an ASIC-based miner.


There's no value in cloud mining, about 6 months ago it provided a means to break into mining at a low cost point, but you're not mining, you are investing in someone else's infrastructure to mine and you're paid a share for your investment. The shares you are paid back won't give you a ROI over the time frame the cloud miners advertise because of the rise in difficulty and maintenance costs. Cloud miners are basically taking advantage of the newbies who don't anything about mining and hoping their lust for bitcoin keeps them from doing the due diliegence and research. My opinion is cloudmining is a lose-lose scenario.

[BigBoy89]

not worth at all
you'll never get ROI if you invest there.
a thread discuss about cex.io from last year :
[Not] Good price at CEX.io

[ajw7989]

People used to use CEX as a trading platform and it was safe to trade if you viewed the mining as an interest. Holding longterm was never profitable but now that their is a trading fee its going to be very hard to make a profit any sort of way

[beatljuice]

For reference I have my Bitcoin money invested at PBMining because it seems the best thing for what I want to achieve, but everyone has different goals.

People often don't take everything into consideration. And while I have hardly any money at CEX.IO any more, there are some benefits to their service.

First you own the GHz for life (or as long as CEX.IO is around) and can sell them to get some quick money together if you need to.

They have been around a long time (in crypto years) so you can expect that they will continue to be around a while. Not so with many of the other cloud mining services.

I believe CEX.IO will be lowering fees in the near future. Hashing can now be done at under a watt per GHz and I think we will see fees reflect that as CEX.IO adds/upgrades to newer equipment.

You can reinvest your earnings on an hourly basis if you want. This is pretty big. While I doubt it covers the higher fees that CEX.IO charge it makes a significant dent in them. Compounding is powerful. I have to wait a week to reinvest my earnings on PBMining which isn't as great.

You're actually mining 4 coins there. I don't know of any other cloud mining service that does that. If NameCoin takes off in value you have an extra asset.

Like I said, their service isn't where I have my money, but just saying "you can't make a profit on CEX.IO" is very uninformed and short sighted.