The rise of cryptocurrency – as traditional currencies and as platforms for other much more complex financial products – has been quite stunning and with it comes the opportunity for investment. However, the volatile nature of cryptocurrencies means that investing and making a profit in cryptocurrency is subject to crypto volatility.
1 Bitcoin was worth about $7000 in Autumn 2017 and rose to an all-time high mark of $20k, representing a 300% ROI on investment for investors who bought at $7k. However, crypto volatility set in at the beginning of 2018, seeing BTC crash to a lowly $6000, representing a portfolio-wrecking deal for investors who bought at $20k with the expectancy of a sizeable profit.
Cryptocurrency investment is not all ‘high risk, high reward’ though, there is a way to earn steady, passive income. Interesting, yes?
Cloud mining as an investment option is a much more assured way to invest in cryptocurrency and earn steady passive income.
First Things First, What’s Cloud Mining?
Essentially, mining refers to the computational process of creating more of the finite number of Bitcoins or other altcoins like Ethereum and Litecoin. Miners get rewarded with these coins when they successfully show proof of completing the complex calculations in Blockchain algorithms ahead of others.
However, as the value of cryptos began to increase, the process of creating them also became more difficult. Sadly, though, the energy and computing power requirements of operating a sustainable mining operation was soon to put it beyond individual effort, especially for those who were into it as one of their multiple streams of income drives.
Why Cloud Mining Is the Way to Go for Earning Passive income
The key reasons therefore are:
- Ease of investment: Earning passive income shouldn’t involve the hassles of buying and managing expensive equipment to run a data center for a mining project. With cloud mining, all you have to do is leverage on the services of cloud mining sites, and you’re on your way to earning appreciable returns on your investment
- Open to both crypto enthusiasts and non-tech savvy people: Cloud mining means you no longer have to worry with dealing with technical equipment or environments. What’s more, even the non-tech savvy individual who knows nothing about Blockchain algorithms but is interested in the money-making dimension can earn here by simply subscribing to proxy mining services offered by several cryptocurrency cloud mining sites
- Flexible investment options: Cloud mining investment offers you options with regards to which crypto you should invest in. You could choose any one of Bitcoin, Ethereum, and Litecoin or decide to split your investment among them to avoid putting all your eggs in one basket.
- A better sense of security through binding contracts: Cloud mining contracts give both the crypto-savvy investor and the non-tech savvy one a sense of security because it makes them have an idea of minimum expectations from each investment in buying different hashing power rates and tenure.
How Much Can You Earn via a Cloud Mining Company?
Going by currently available data by blockchaininfo.org, about 1,800 Bitcoins are mined daily. If we multiply that by a hypothetical exchange rate of 1 Bitcoin to $8,500, we’ll be looking at a daily cloud bitcoin mining returns of $15,000,000.
Let’s calculate our profit on the example of a cloud mining platform Hashtoro.com. If you purchase an annual contract for 75 TH and invest 3.000 euro, you can rest assured that after all operating costs get settled, you would have earned over 1.7 bitcoin. And that excludes the appreciation effect of a rising crypto market.
While there are a variety of crypto investments that you could choose from, most are ‘high risk, high reward’ in nature and you could as well make a massive profit as you could hit rock bottom.
However, if you are looking at a legitimate source of steady, passive income via cryptocurrency investment, then you should leverage the services of cloud mining companies. So, Hashtoro is a top cloud mining company that helps you get steady, passive income while essentially doing nothing.
ABOUT THE AUTHOR
Alexander Petersons, product director of cloud mining service Hashtoro.com. IT specialist, serial entrepreneur. Started his professional career in small IT companies in Europe, then moved to America for several years. Worked on the development of mobile processors in Telecommunications equipment company Qualcomm (USA).