All About BTC, LTC, ETH mining as well as other alternative crypto currencies
If you were looking for the Litecoin alternative of the CEX.io Bitcoin cloud mining and trading service then you may not have to wait much more. We have just found out about a new service that looks and functions very much like CEX, however it is designed only for LTC cloud mining. This new service that has launched just a few days ago is called Markets CX and has started just about a week ago with a month before that for closed beta testing according to the available information. It seems that the service is based somewhere in Asia and to be more precise in mainland China according to the not so man details published about the operation. Furthermore the cloud mining hashrate being offered is apparently provided by 5-chip Gridseed ASIC devices and there is even an option to redeem your cloud mining hashrate for actual hardware (300 KHS per device).
Of course we have decided to give the service a try as something new and interesting in our search for a good Litecoin cloud mining service. It seems like the most promising and well made from what we have tried for mining Litecoin, so we have decided to start by depositing 5 LTCs and purchasing Scrypt mining hashrate with them. We started with 1 LTC initially just to test and soon after that moved another ~4 Litecoins and the total hashrate we have purchased with them was about 120 KHS. We liked that the deposit confirmations require only 3 confirmations on the network, so you can quickly have the LTCs available on the exchange to buy hashrate with. The current price per 1 KHS is 0.0410 LTC with already over 40000 KHS (40 MHS) available on the exchange, so there is plenty of hashrate available for sale at the moment. We however do recommend to start small as we did and we usually do with new services that we are trying out and if everything works well out for you you can later on buy more hashrate. The good news is that we already got a few hourly earnings credited to our account and we can withdraw them, though we’ll probably reinvest them for more hashrate. We expect that soon the exchange rate will start to get higher as currently the available on the market KHS are probably offered by the service provider at a lower rate and with more demand the price will start to get high. This will allow you to buy now cheaper and sell more expensive later on to get some extra profit if you do not want to invest on the long run.
And while this new service for LTC cloud mining does seem to look very similar to CEX.io the two are not run by the same people. This new Litecoin cloud mining platform does not yet have a public mining pool where you can mine with your own hardware, or even some real time information about what and how your purchased cloud mining hashrate is performing. For the moment you can only see every hour what your earnings are on the account Balance page, so there is more to be desired here, especially considering that this piece of information is not well described and you need to figure it out by yourself.
Markets CX does offer a Mining Profit calculator that can give you an idea about when you can expect to break even in. The average return of investment according to the profit calculator is 6-7 months and that does sound pretty good, but the time required to get your invested LTC back can vary. The maintenance fee for the cloud mining hashrate you purchase is currently 7.5% and you can see how much from your earnings are deducted each hour when you get your mining profit credited to your account. So far we are excited by the potential we see in this Litecoin cloud mining service, so we do recommend to take a look at it if you are interested in LTC cloud mining. You can try it out with just a few KHS like we did and we’ll keep you updated on our experience and results from using this new Litecoin cloud mining and trading service. Note that we do recommend to proceed with caution though and not invest a lot of coins initially and give the service some time to prove itself first!