▌What are the advantages?

There is no need to purchase mining machines and maintenance, no need to pay electricity and other miscellaneous fees, only contract fees.

Compared with the thrilling roller coaster that goes through big ups and downs in the currency market every day, the investment return ratio of cloud mining is relatively stable, which is equivalent to a long-term small rated investment, and will not affect daily investment decisions due to large currency price fluctuations.

▌What are the disadvantages?

Some platforms may involve scams or runaways. Keep your eyes open and choose a platform that is reliable and endorsed.

Unverifiable or suspicious Bitcoin cloud mining operations are risky, but the risk is much lower than speculation.

Profits may not be as high as direct investment or moving bricks.

▌Currently popular and easy-to-use cloud mining platforms on the market

◑ Hashflare (https://hashflare.io/)

It provides SCRYPT cloud mining algorithm and SHA-256 cloud mining algorithm, which are currently cost-effective. To automatically pay in Bitcoin, customers must purchase at least 10 GH/s and the contract period is one year. In addition to Bitcoin, it also provides cloud mining services for Ethereum, ZCASH and DASH.

◑ Genesis Mining (https://www.genesis-mining.hk/)

Claimed to be the largest Bitcoin and scrypt cloud mining provider. Genesis Mining offers four Bitcoin cloud plans at reasonable prices. It also provides cloud mining contracts for Zcash, Litecoin, Dash, Litecoin and Monero.

Hashing24 has been engaged in Bitcoin mining since 2012. They have factories in Iceland and Georgia, using BitFury's modern ASIC chips to provide the highest performance and efficiency.

◑ MVU Cloud Mining (https://mvu.com/)

MVU cloud mining (mvu.com) has a global deployment of mining farms around the world, and has invested in several large-scale mining farms and IDC computer rooms in Asia, which is mainly distributed in Sichuan/Yunnan/Xinjiang/Inner Mongolia in China that have access to abundant power resources, as well as Kazakhstan/Russia.

◑ Minergate (https://minergate.com/)

MinerGate is a set of mining pools created by cryptocurrency enthusiasts. It is the first mining pool to provide services for combined mining. This means that when mining in our pool, you can mine different currencies at the same time without reducing the hash rate of the main currency. More than a dozen cryptocurrencies such as BTC, BTG, Zasch, ETH, and Ethereum Classic can be mined.

◑ Hashnest (https://www.hashnest.com/)

Hashnest is operated by Bitmain, which is the manufacturer of the Antminer production line for miners. In addition to the AntL3, AntS9 and AntS7 cloud computing power, the platform also launched an accelerated return to cloud computing power contract (PACMiC). There is no maintenance fee, and the maintenance fee is paid by Bitmain. Before the buyer pays back, the outstanding capital Gold will also receive profits.

◑ Bitcoin Cloud Mining (https://btc-extractor.com/home/)

It is said that Bitcoin mining has been going on since mid-2013. All Bitcoin miners are located in Australia's most advanced data center and have direct access to high-quality equipment and 24/7 support.

◑ NiceHash (https://www.nicehash.com/)

Today, one of the largest cryptocurrency computing power markets in the world provides mining services for Bitcoin, Zcash, Monero, Ethereum, Dash, etc. The minimum contract order is 0.005BTC, and more than 20 different computing powers such as Scrypt, SHA256, ScryptNf, X11, etc. can be provided to buyers at any time.

◑ Eobot (https://www.eobot.com/)

Claimed to be the simplest, cheapest, and best cloud mining solution. The minimum investment is $10, and you can use PayPal to pay. You can choose 20 cryptocurrencies such as BTC, Eth, LTC, BCH, Ripple, Dash, NEM, and Zcash.

Fake websites

 If we are not careful, we can easily ignore the warning signs on fake webssites. Once a user enter a malicious webssite, everything may seem normal, but in fact, these webssites are specifically designed to steal your cryptocurrency. In the field of encryption, there have been many such cases where users enter malicious webssites from developers who pretended to be large encryption companies. In this case, if the user recharges or pays according to the given wallet, the money will be sent to the fraudster’s address. Once the funds are transferred, there is no button that can be withdrawn.

There are now plenty of fake websites masquerading as similar to original, effective startups. If no instructions safe little lock icon near the URL bar, and no “HTTPS” in the site address, even if the site looks and what do you think is on a visit to the site, the same can also be an elaborate hoax, users will find himself are directed to another platform, obviously, the platform will not bring you true feasible encryption monetary investment. To avoid this, be careful to enter the exact URL in your browser. You should learn to spot the telltale signs of fake websites before opening an account. 

Legitimate website recommendation

Xfaucets.com

At present, Xfaucets has ten kinds of cryptocurrencies, including BTC, ETH, and Dogecoin. If you are interested in other cryptocurrencies, you can also collect them synchronously, because it can be obtained every ten minutes. In addition, Xfaucets has two levels of invitation rewards. The first level receives 25% of the rewards from the users who register and click on your invitation link, and the second level receives 10% of the rewards from the friends you invite and then invite them. This is different from other platforms and more profitable. If you are interested, you can click my invitation link to view it.

Faucet.Asia

Faucet.Asia is a special faucet station that provides dog money. If you are only interested in dog money, you might as well try this website, faucet.Asia. You can get 0.001 Doge in 30 minutes. Of course, faucet.Asia also has a recommendation reward. You can get 25% of the recommendation reward by inviting your friends to register through your invitation link. If you want to get a lot of free dog money from the faucet and add some fun, Faucet. Asia is definitely worth a try.

Fraudulent Initial Coin Offerings

An initial coin offering (ICO) is the cryptocurrency industry’s equivalent to an initial public offering (IPO). From the beginning of ICO, it has developed to the present. The financing objects of ICO have begun to penetrate from the niche to the mass market. A large number of retail investors who do not have the risk tolerance and do not understand the blockchain technology have swarmed in. Therefore, ICO has been transformed from an efficient tool that helped blockchain start-ups to raise funds into a means for a large number of scammers to raise funds illegally. All ICO fraud cases can be summarized in the words of Yavin (the founder and CEO of the cryptocurrency rating website Cointelligence). 8 ways to identify ICO scams: ① abnormal, poorly done, or plagiarized websites; ② false teams Introduction; ③Suspicious or non-original white paper; ④The company's goal is not clear; ⑤The code base is not maintained; ⑥No Pre-ICO stage; ⑦The use of funds is opaque; ⑧No legal entity or registered company

Ponzi Scheme for Cryptocurrency

In a Ponzi scheme, you may hear that a certain investment can make money (this is the first red flag!). Usually, this scam is disguised as a portfolio management service. In fact, there is no magic formula at work, the "profit" you get is nothing more than other investors' funds.

The organizer adds newly collected investor funds to the cash pool, and the only cash inflow comes from new entrants, and previous investors will receive funds from new entrants. With the addition of new entrants, this cycle will continue, and when there is no more cash to maintain investor income, the scam will quickly disintegrate.

For example, if an organization promises to get a 10% return on revenue within a month, after you invest $100, the organizer invites another client to invest $100. The controller uses this newly acquired funds to pay you $110 at the end of the month. Then he needs to attract another customer to join and pay the second customer at the same time. The cycle goes back and forth until the scam falls apart one day.

Conclusion

Investors looking for returns in new technologies are increasingly turning to blockchain and cryptocurrencies. But we must not lose sight of the fact that they are complex systems, new even to the people who operate and sell them. Newcomers often fall victim to scams. In an environment like the current cryptocurrency market, potential investors should be very careful about where they put their money and be sure to find out who is involved and what is involved.

What is Xfaucets.com?

Xfaucets (https://www.xfaucets.com/) is a global cryptocurrency faucet website, where users just need to associate the wallet address in iCoinPay to obtain a certain amount of cryptocurrency for free. The users can select a faucet and earn free cryptocurrencies with just a few clicks but not complicated Internet access, and the second earning type is to level up referral commission. Xfaucet is a legal project that allows you to gain free cryptocurrencies and referral commission without investments in a simple way. The associated iCoinPay wallet is also legal and verified.

Tutorial to Get Free Bitcoin

Step 1– Sign up Xfaucets.com and login to the mailbox for authentication.

Step 2– Sign in Xfaucets.com. Before claiming free BTC, you need to bind your iCoinPay User ID first so that your balance can be withdrawn to your iCoinPay wallet. Click sign up iCoinPay.com.

Or click “Setting Your iCoinPay User ID” on the “FREE BITCOIN FAUCET” page, you will be direct to the “Account Info Setting” Page, in which you can bind or change your iCoinPay User ID after registering iCoinPay successfully. Click iCoinPay.com

Step 3-Go to the claim cryptocurrencies page, Click Claim, and pass the robot captcha, you can get up to 40 satoshi Bitcoins every 10 mins.

Step 4-Go back to Xfaucets.com, and go to the affiliate page. You can find your referral link, share your referral with your friends and earn commissions on all their earnings for a lifetime.

Level 1 – Direct Referrals: 25% each time your Level 1 Users Claim earnings

Level 2 – Invited by your friends: 10% each time your Level 2 Users Claim earnings

Xfaucets Payment Proof

Register now at Xfaucets. https://www.xfaucets.com/?ref=21b899fc

Cointiply

Features:

• LOYALTY BONUS
  Log in each day to boost your loyalty bonus all the way to 100%.

• REWARD POINTS

  Earn reward points by completing tasks and boosting your level. Cash in reward points for real prizes.

• EARN INTEREST

  Earn 5% interest on your Coin balance when you reach 35,000 Coins

• 25% FOR REFERRALS

  Earn 25% of all your referrals' faucet claims and 10% of their offer earnings.

Coinpayu

 

Features:

• Earn Cryptocurrency    
  Collect up to 200 satoshis per hour, but you need at least 35,000 satoshis to withdraw.
• Various Modes  
  offers surveys, offers walls, games, watches ads, and applies promo codes to keep you active on the platform. 

• FAST PAYMENTS

  Withdraw your Coins any time to your Bitcoin, Dogecoin, Dash, or LTC wallet.

FaucetCrypto

• WAYS OF EARNINGS     

        Ptc Advertisements/Offerwalls & Surveys/Faucet Claim

• DIRECT WITHDRAWAL
  Withdraw your earnings straight to your wallet. We pay directly via the blockchain. The owner of your money must be you and not a third-party micro-wallet service.
• REFERRAL COMMISSION
  Share your referral link with your friends and earn 20% + Items of all their earnings for lifetime. Track your earnings on our advanced referral statistics panel.

FreeBitcoin

• FREE BITCOINS EVERY HOUR
  Try your luck every hour playing our simple game and you could win up to $200 in free bitcoins.
• REFERRAL CONTEST
  Join our referral program and bring your friends over to FreeBitco.in. Rank in the top 10 by combined wagering volume of your referrals to win the contest and up to $10,900 in BTC every month.
• EARN INTEREST ON YOUR DEPOSITS
  Deposit BTC in your FreeBitcoin wallet and we'll give you 4.08% annual interest on your balance, compounded daily.
• GENEROUS REFERRAL PROGRAM
  Refer your friends after signing up, and get 50% of whatever they win in addition to getting free lottery tickets every time they play.

Xfaucets

•  TEN CRYPTOCURRENCY

         Claim 10 Free Coins in Spare Time (BTC, LTC, Dogecoin, ETH, BNB...)

• HIGH PAYMENTS

       Earn 40 satoshi Bitcoins in 10 minutes

• 25%+10% REFERRAL COMMISSIONS   

       Share your referral link with your friends and earn commissions on all their earnings for a lifetime. 

       Level 1 - Direct Referrals: 25% each time your Level 1 Users Claim earnings

       Level 2 - Invited by your friends: 10% each time your Level 2 Users Claim earnings

Faucet.Asia

• HIGH PAYMENTS

• 25% REFERRAL COMMISSIONS