Archive for the ‘Cloud Mining’ Category

scryptcc-scrypt-cloud-mining-service

Scryptcc is a new Scrypt-based Cloud Mining Service where you can purchase KHS and they will start mining alternative crypto currencies for you in the cloud right away. This service is really new and very similar to what CEX.io is for Bitcoin cloud mining, however here you re purchasing Scrypt processing power and not SHA-256 like with CEX. It seems that the service is just a few days old and although there is some polishing that needs to be made it seems fully operational and working with thousands of KHS already available for purchase. scryptcc offers both cloud mining and exchange for trading KHS, just like you can do on CEX.io with GHS and BTC.

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In this exchange you can purchase KHS for scrypt-based cloud mining in a private pool, and the earnings you get are also calculated in BTC. There is no detailed information yet or ability to control what alternative crypto currencies the pool mines for you, but it should mine based on profitability such as DOGE or LTC for example (in the future there should be an option for the user to choose specific coin to be mined). The current lowest exchange rate for a 1 KHS is 0.00144390 BTC and according to the calculator that the service provides for checking your profitability you should be able to get a return of investment for about 180 days or half a year if you purchase KHS at that price. The good thing about Scrypt mining is that there are not yet serious ASIC devices on the market and there are already a lot of alternative cryptos to mine, so longer term investment in Scrypt could mining seems more reasonable than in SHA-256 cloud mining power.

scryptcc-scrypt-cloud-mining-our-hashrate

We just started testing the scryptcc cloud based Scrypt mining service by purchasing a few KHS to test with, so we’ll keep you updated to what is happening and how things are going. Hopefully we are seeing something that will give some good alternative options for people that want to have access to higher Scrypt hashrate without having to deal directly with the hardware themselves. After you transfer some BTC to the service (only 3 network confirmations are required), you can purchase some Scrypt cloud hashrate on the exchange and the KHS you purchase are credited to your account and should start earning mining rewards every 10 minutes shortly. We just got our first small mining reward in BTC as you can see on the screenshot above that we reinvested into KHS. So we advice you to give the service a try with some small amount at first to see for yourself how things will be going as we decided to do. Have in mind that the service is still in Beta, so there could be some hiccups at first, but these will probably be dealt with quickly.

For more information and to try out the scryptcc cloud mining service yourself…

cex-io-cloud-mining-and-exchange

We’ve been using the CEX.io services for a while already and have decided to share some of our experience and tips and tricks in order to help you get the best out of the service if you are using it or plan to use it at some point. The idea behind CEX is that you can purchase BTC ASIC hashrate in the cloud, so that the purchased GHS will start mining Bitcoins immediately for you. CEX.io also has an exchange where you actually buy and sell hashrate – GHS for BTC or NMC, and also can trade LTC/BTC and NMC/BTC. The service also includes the Ghash.io BTC mining pool where your cloud hashrate is mining for you, and if yuo have physical Bitcoin miners you can also point them to that pool to mine coins for you – the pool fee is 0% and currently this is the largest of the BTC mining pools.

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The fact that you don’t actually buy GHS at a fixed price, but instead you can purchase hashrate at the current market price is both a good and a bad thing. Due to the fact that there is an exchange available you need to trade BTC or NMC for GHS in order to get some hasrate to mine for you, so you can expect the price you will have to pay for 1 GHS to be 2-3 times higher than what you would pay for a physical Bitcoin ASIC. The good thing with cloud mining at CEX.io is that you can easily and quickly sell your hashrate at the exchange at any time. The bad thing is that there is a very high chance that in a few days or weeks of time the exchange rate per GHS will most likely be lower than the rate at you purchased. This is happening because of the constantly increasing difficulty of the Bitcoin network, and as a result the rate at which your cloud hashrate is mining coins for you will also drop in time. This makes it not worthwhile to invest in GHS on the long run expecting that you will end up with profit from what you have mined with the purchased hasrate after you sell the gigahashes you purchased on the exchange in a while.

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What you should consider to do if you plan on using CEX.io effectively is to trade GHS on the exchange (there is a 0% fee for trades on that exchange) and while you are trading them the purchased hasrate will generate you some extra profit as it will mine for Bitcoins. This is simply the best and most profitable option that will give you the chance to make some extra profit, though it will require you to have some trading knowledge and experience in order to do the right decisions on the exchange. It is not a wise idea to look for automated trading solution to help you in trading such as the Cryptotrader platform that we’ve reviewed recently unless you really know what you are going to do with it. On the other hand the use of some sort of market indicators such as EMA can help you in making the right decisions at the right time. You can find a good source for technical analysis of the GHS market at Bitcoinwisdom, but be careful with these indicators as well as they can only help you identify the market trends and not guarantee you anything.

For more information about the CEX.io Bitcoin cloud mining and exchange…

cexio-bitcoin-commodity-exchange-test

The Bitcoin Cloud Hashing service CEX.IO is currently down for an hour for a scheduled maintenance (3PM-4PM GMT). This downtime includes only the CEX cloud mining services that should be restored and the miners with cloud hashrate should be compensated with brief higher hashrate than they actually have purchased as the CEX does normally when there is downtime. The maintenance mode should continue for an hour and after that everything should be back to normal. The Ghash.io mining pool is fully operational and you can use it with dedicated miners if you have any during the maintenance period.

Update: Everything is back to normal now and you should’ve received slight boost for a bit in your hashrate to be compensated for the downtime.

For more information about the cloud service and to try Bitcoin Cloud Mining at CEX.IO…


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