IQmining – overview of the cloud-based crypto currency mining platform

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IQmining – overview of the cloud-based crypto currency miming platform

With the increasing popularity of crypto currency (especially after an unprecedented increase in the cost of military technical cooperation in 2020, as well as attempts by financiers to explain the mechanism for creating and developing alternative means of payment), most average users have reached a dead end. The new universal instrument of exchange does not work according to the traditional laws that existed before the Bretton Woods agreement (binding to the “gold standard”), but even less, it obeyed the modern rules of the world financial market. Created in this period, analytical articles, reviews of reputable economists, the conclusions of well-known journalists specializing in this subject can be conditionally divided into three categories:

в—ЏCrypto currency is quite a promising and convenient tool for exchange, but (according to experienced experts), unfortunately, it often becomes the object of a wide variety of fraudulent schemes;

в—Џ MTC and with them – saving the world economy, which will free the world from the “slavery” of the dollar (but it is immediately tried to “reject”);

в—Џ Bitcoin is a revolutionary new, universal mechanism for “resetting” international financial markets with a subsequent change in the world economy.

To give an accurate forecast of the development of the Crypto-currency for the next 1-2 decades, with direct / indirect influence on the world or even the main national economies, to date, no financier will risk. Therefore, we can only compare with the current situation, and in free time, amateurs can test theoretical assumptions empirically, giving a couple of hours to extract this unique electronic means of payment. Moreover, today, hundreds of proven web resources that have managed to win the reputation of respectable companies offer their services. For example, IQmining is a resource that provides its services for more than a year (registered in 2020), during this time gathered a group of real miners, its administration is quite “sober” looking at the current situation and does not promise its users “golden mountains”, for a short period of time. But what can a new user expect, who decided to start mining on this resource?

Key Performance Indicators

Experienced miners are well aware that most of the Internet platforms of this specialization, advertising their activities, try to avoid direct answers to the question of which bodies control their activities. In this case, the official website mentions that the management company is registered in the Seychelles, it has offices in China, Russia, Algeria, Canada, Georgia and Iceland.

No regulators, either on the company’s web resource, or on other advertising sites, could not be found. There is a sufficiently large user agreement, which must necessarily be studied by a potential client, who plans to invest a decent amount in this type of activity. But apart from a good command of English, you will need the help of a lawyer.

Technical issues

I do not need the resource user to download to the IQmining application or any other programs (especially for this you need to pay money). After a simple registration and verification of the account (the site administration strongly recommends doing this so that there are no force majors at the time of withdrawal), the user can proceed to “harvest” the cryptonym.

It should be noted that on IQmining login is registered quickly, the administration requests only the most necessary personal information, and also requests one of the available tariffs:

в—Џ Gold – minimum purchase of 3 GHz / s (1 MHz / s – $ 2.6);

в—Џ Silver – from 300 MHz / s (1 MHz / s – 2.8 dollars);

в—Џ Bronze – 1 MHz / s – 3 dollars *

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* The cost depends on the situation on the crypto-currency market. Based on the above rates, the profit of the miner is calculated. But do not forget about the consumption of electricity, which is necessary for the continuous operation of equipment that allows you to earn a crypto currency.

Today, there is a huge amount of training information that allows us to understand the mechanism for creating alternative coins whose value can change drastically, influenced not only by standard economic levers of influence, but also by additional factors that often play a secondary role. Studying on any specialized resource, including the IQmining demo version of the jumps in the value of the crypto currency, you can easily see a fairly complicated graph of the change in the value of electric coins.

IQmining: an overview of the rules and conditions of work on the resource

On the considered web resource registered users can work with: BTC, Litecoin, Dash, Ethereum or ZCash. The participants of the site can use a wide variety of strategies, the effectiveness of which depends not only on how much the potential investor is willing to contribute, but also on the huge number of the above factors. As the reviews of the miners prepared on the IQmining resource show, most clients get their money, that is, there are no grounds for accusing the site administration of fraud.

How to fund your account or withdraw money

Clients of the submitted resource can use the following methods for depositing funds or withdrawing earned money:

в—Џ plastic bank cards (Visa or Mastercard);

в—Џ Internet banking;

в—Џ a wide range of wallets, crypto currency;

The minimum amount for withdrawal is 0.001 PTS. Commission administration for the withdrawal of funds, the administration of the resource does not impose. You can withdraw money only to the purse that was used to replenish the balance.

Positive sides

Having studied all the reviews available on the IQmining resource, it can be concluded that users are attracted by the following indicators:

в—Џ A convenient site, which will be understood by any user of the PC;

в—Џ The availability of a calculator will help to easily identify promising areas of work;

в—Џ A large selection of both phiatic means and crypto currency will allow you to quickly convert funds into the desired currency without losing your own money on the exchange.

Among the shortcomings of the service in question it is necessary to single out: an insufficiently high level of trust in the resource, as well as high competition.

Bitcoin Cloud Mining

Want to find the best Bitcoin cloud mining contracts? This post has you covered.

Most Bitcoin Cloud Mining Companies are Scams

Like the heading says, most cloud mining contracts are scams. Why?

Because it’s easy for companies to take peoples’ money, and then not pay out. A company can claim to be a cloud mining company without any proof of actually owning any hardware.

So remember: 99% of cloud mining companies are scams.

Quick Tip

Mining is not the fastest way to buy bitcoins.

Which Companies Are Not Scams?

We can’t recommend any cloud mining companies at this time.

Note: If you do find one, you’ll need a wallet to receive payouts to. A secure hardware wallet like the Ledger Nano X is a good option.

Is Cloud Mining Profitable?

It depends what your goals are with cloud mining. If your goal is to obtain bitcoins, then there is really no reason to cloud mine or even mine at all.

You will get more bitcoins for your buck if you just buy bitcoins!

If you think mining is cool and want to try, then cloud mining still is not a good option. Grab a cheap USB miner and run it at home.

VPNs for Mining

As a Bitcoin miner, you may also want to look into getting a VPN.

You can never have enough security when it comes to bitcoin. Using a VPN adds an extra layer of security.

Bitcoin Cloud Mining Comparison

There is not much to compare, because we personally do not recommend buying any cloud mining contracts so we will not spend the time to compare the two companies above.

But check back in to see if we find any new, legit cloud mining companies.

Bitcoin Cloud Mining Scams History

The reason there are so many cloud mining scams is because it is very easy for anyone in the world to setup a website.

Once the website is setup it can claim that the company has a large mining facility.

The company can act legit by sending initial payments to its customers. But after that it can just keep the already received payments for hash power and then make no further payments.

In just the last few months, two cloud mining scams were uncovered: HashOcean and Bitcoin Cloud Services.

What Payment Methods do Cloud Mining Companies Accept?

Most cloud mining companies accept Bitcoin, PayPal, and credit cards. If a cloud mining company accepts bitcoins then there is a good chance it is a scam.

This is because Bitcoin payments cannot be reversed. Once the scam company receives your bitcoin payment you have no way to get your coins back.

Are there Free Cloud Mining Trials?

No company would give away free cloud mining; this is basically giving away free money.

Any company offering free trials, especially if they require payment information, is most likely a scam.

Quick Tip

Mining or buying bitcoins? You can’t do either without a Bitcoin wallet.

Our guide on the best bitcoin wallets will help you pick one. Read it here!

How does Bitcoin Cloud Mining Work?

Cloud mining means a host company owns Bitcoin mining hardware and runs it at a warehouse.

You pay the company and rent out some of the hardware. Based on the amount of hash power you rent, you will earn a share of payments from the cloud mining company for any revenue generated by the hash power you purchased.

Cloud Mining Viruses

There have been viruses that land on computers and then use the computers’ power to mine bitcoins.

Run a malware detector on your computer if you think you may have come under attack.

Is Mining Software the Same as Cloud Mining?

Mining software is something you download on your computer. It is required when you OWN mining hardware. Software connects your hardware to the internet so that it can make hashes and communicate with the network.

Just buy Bitcoins!

If you just want bitcoins, don’t bother with cloud mining. Just find an exchange in your country and buy some bitcoins.

Learn More

Best Bitcoin Mining Software

Best Bitcoin Mining Hardware

Best Bitcoin Mining Pools

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Cryptocurrency Mining Online Made Simple And Snap

Today, we often hear about cryptocurrencies. Bitcoin… Ethereum…Dash… We all want them so much, right? Taking a peek at the current Bitcoin price has become a regular matter for you? Feel like diving deep into the peculiarities of the cryptocurrency and the blockchain industries?

If that is all about you, consider cloud mining. Unlike typical mining schemes, requiring procurement, proper cooling and specific equipment maintenance and configuration of highly specialized hardware, cloud mining boasts a truly low cost of entry combined with minimal risks, losses, pitfalls, and expenses.

And guess what – there is a decent way to outsource your mining to the cloud. Never get caught buying expensive highly specialized mining hardware, wasting your time on setting this equipment up again. With a good mining pool, such as HashFlare, Genesis Mining, CryptoMiningFarm, or MinerGate, cryptocurrency mining made easily accessible to everyone regardless of his or her location, age, investment, and skills. What is more, to get started with crypto mining, no previous experience is required. Most notably, here is one more cool feature about cloud mining: the Hashrates begins at 10GH/s. In other words, newcomers are not required to invest a lot to become the member of the highly profitable cloud mining business.

Still hesitating? Get to know more about this way of earning cryptocurrencies.

The Most Typical Cryptocurrencies To Mine in the Cloud

Just for the record, most of us want to mine Bitcoin, but do you know that there are other altcoins that are possible to cloud mine via online mining services? When it comes to cloud crypto mining options, currently these are the most popular cryptocurrencies:

  1. SHA-256 CLOUD MINING. Yes, that is the tool to get Bitcoin. The min. required Hashrate is 10 GH/s. In the majority of mining online services, you will need to pay 0.0035 $ / 10 GH/s / 24h to maintain your money. The hardware, which is used is the HashCoins SHA-256.
  2. CLOUD MINING of SCRYPT. Use this cloud mining solution if you are interested in earning Litecoin, a great alternative to Bitcoin. The min. Hashrate here is as little as 1 MH/s. Please note that to maintain the mined coins in the cloud mining pools, you will need to pay the fee: 0.005 $ / 1 MH/s / 24h. When it comes to Hardware, to mine scypt, the HashCoins SCRYPT hardware is used.
  3. CLOUD MINING of ETHEREUM. Another alternative to Bitcoin is Ethereum, the cryptocurrency, which was launched in 2020 but has been recently growing Today, it’s among the top 3 cryptocurrencies and we have to admit it still has a potential to grow. The min. Hashrate is 100 KH/s. The other adorable aspect about mining Ethereum is that there is no fee to maintain it. The GPU Rigs hardware is used to mine it.
  4. CLOUD MINING of ZCASH. Zcash is another cryptocurrency, which is well worth mining. The min. Hashrate here is as little as 1 H/s. GPU Rigs hardware mines this cryptocurrency.
  5. CLOUD MINING of DASH. The fifth popular cryptocurrency, DASH, has a huge potential. The min. Hashrate is 1 MH/s. To mine DASH, the Multi-Factor hardware is needed. Similar to Ethereum and ZCash, no maintenance fee for this cryptocoin is supposed.

Of course, it’s up to you which one to choose. No matter which cloud mining solution you choose, you may count all benefits online mining platforms can offer to its customers, achieving maximum efficiency. Let’s take a closer look at the main ones, which are definitely worth mentioning.

Finding Your Ideal Cloud Mining Vendor: Basic Issues to Remember

To benefit from cloud mining, the very first thing, is without any doubts, to choose a reliable vendor. Make sure that the chosen cloud-mining provider is not new on the market and has gained an excellent reputation. The platform should be a real expert in cutting-edge blockchain solutions and mining hardware. Choosing one of the best Bitcoin miner providers is highly recommended, don’t parent with the little known platforms or at least carefully read their reviews.

By the way, you can always reveal the latest information from the mining renovation sphere at specific cryptocurrency related sites. Plus, you can check the accurate statistics for today, yesterday, and tomorrow.

Major Features To Look For

Besides, as it was stated before, there are multiple benefits the cloud mining solution should offer to its clients. The most appealing features include the following:

  • Really cheap entry level. You can start mining Bitcoin or other currencies with as little as $1.20. Please check the Pricing page to get comprehensive information regarding all cloud mining options and their rates.
  • Fast, smooth and easy getting started. The mining starts immediately after confirmed payment. Needless to note, the first payouts are possible within 24 hours.
  • Instant, easy, and straightforward withdrawal opportunities. Simply specify the amount you need to withdraw, select the preferred withdrawal method and get it in seconds. By the way, you will highly appreciate the fact that there’s a pretty solid choice of withdrawal possibilities: Bitcoin, credit cards, and wire transfers.
  • Unlimited contract length for most cryptocurrencies.That means that your contract is valid till you need it. No need to sign up the contract again and again. Please note that the things are different for Ethereum and Zcash, the length of the contract for these two is 1 year maximum.
  • GoodPartner program.Take full advantage of the 10% commission on every single purchase your referral user makes. Please visit the main site’s Partner program page for more information.
  • 24/7 your secure access to your ultimate account. Go to your Personal mining account to check how things go from any smart device, any time of the day or night, no matter where you happen to be. Browsing detailed, real-time statistics about your cloud mining activity is easy and consistent.
  • No hidden fees or additional commissions. Every single transaction is visible to you.
  • Special Promo codes and regular customer discounts. Benefit from special bonuses and hot deals, which help you earn even more, spending less.

Already thrilled? Here what you need to go to get started, all 5 different algorithms covered.

  • Find your vendor. Choose which cloud mining vendors fulfills the above-mentioned requirements and choose the one that suits you the best.
  • Register an account. Upon registration, you will be asked for your country of residence, the birth date and, of course, your user name and password. Don’t be afraid, the service keeps your private information secured and protected, this is needed should your account be compromised.
  • Cryptocurrency and Hashpower. Decide upon the desired cryptocurrency you wish to mine and the needed hashpower.
    Here is atip for you: Before choosing the particular option, try to understand the main principles of its functionality.
  • Pay (in most cases, wire transfers in USD and EUR are accepted) and read the contract and sign it.
  • Get paid. Different cloud services that mine cryptocurrencies offer varying first earning time. As we can see from the HashFlare review, for example, you can get your first payment if you use this platform within 24 hours.

Please note: in most cases, to receive any cloud-mining payouts, you need to open a crypto wallet depending on the currency you choose. These days, there are dozens of crypto wallet services, but make sure to choose a secure and reliable one.

Anyway, if you do wish to regularly earn Bitcoin or any other digital currency, be the first of your friends to benefit from the state of the art cloud mining service. Definitely, cloud mining is a better alternative to real mining. Start generating revenue right away!

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