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Free Cloud Mining: A Comprehensive Guide

If we take one single look at the crypto world today, we’ll quickly notice that cloud mining is a really hot topic within certain cryptocurrency mining circles. Progressively more and more people want to know various things about cloud mining - how it works, who are the service providers, what are the costs, etc. Naturally, a lot of people gravitate towards free cloud mining, for it seems to be the most attractive option out there.

In this tutorial, we’re gonna talk about all things related to cloud mining. We’ll cover both the basic definitions and the more in-depth stuff. Along the way, I’ll give you some examples of the best cloud mining providers out there, both paid and free. I can give you a hint, though - paid cloud mining is usually going to be a much better alternative.

Since the debate of which one is better - paid or free cloud mining - seems to be an ongoing issue, I’ll also talk about some of the pros and cons that both of those options possess.

By the way, even free cloud mining is an option, you can also choose to invest in cryptocurrencies and start trading instantly by choosing reliable cryptocurrency exchanges, such as Binance, Coinbase, KuCoin, and Kraken.

Main score based on expert evaluations & real user reviews.

For which purpose or what kind of people is the crypto exchange most useful.

The countries in which the cryptocurrency exchange is available for operation.

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Final crypto exchange evaluation conclusion based on research, expert opinions & user feedback.

BINANCE KUCOIN

Overall Score

9.8
8.6

Best For

Buying, trading, and holding a wide variety of cryptocurrencies Best for Buying & Selling Crypto with Small Fees

Operating Countries

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Latest Coupons

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Verdict

One of the leading crypto exchange platforms in the industry. A reliable and well-established cryptocurrency exchange platform.
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Table: Some general information about the Binance and KuCoin cryptocurrency exchanges

Now, let's find out more about cloud mining.

Matthew MeĹžinskis

Corporate Finance Professional at ArchInvest

Is the increasing popularity and adoption of cryptocurrencies a positive development for the global economy?

Unquestionably we’re on the right path with decentralized money. The global economy for decades has been trending toward a more centralized model with huge, state-favored corporations, high state (fiscal) spending, increasing debt levels, a military-industrial complex, and exploding monetary stimulus to cover the shortfall that tax revenue doesn’t meet. Decisions on local levels in government and companies seem to be less impactful. Cryptocurrency advancement is a key instrument to bring agency and autonomy back to families and local communities.

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What is Cloud Mining?

To develop a full-circle type of conversation and understanding, let’s take it from the top and define cloud mining.

Cloud mining is usually defined simply as a remote cryptocurrency mining service. This service is provided by hosts (people who own and sell the cloud mining service) who have farms (huge collections of mining rigs, usually held in big, designated facilities).

Free Cloud Mining: A Comprehensive Guide

The hosts are usually big corporations that specialize in cloud mining. These corporations buy excessive amounts of mining rig hardware (GPUs, motherboards, processors, etc.) and build hundreds of rigs. Naturally, they are located in respectively sized buildings - huge garages, warehouses and so on. The type of building doesn’t matter - the only conditions are cheap electricity bills and good cooling and air conditioning.

Cloud mining is becoming more and more popular for a couple of reasons.

First of all, it’s very accessible. The average person usually hasn’t got a lot of space or resources required for a successful mining operation. However, with the help of cloud mining, almost everyone can “have” their designated mining rigs that produce revenue over time.

Another popular reason is the cost (or a lack of one). Sure, you could pay someone for their hosting services. However, free cloud mining is also a thing - with this option, you eliminate any possible spendings. Many people don’t have thousands of dollars to spend on their rigs and their maintenance. In such scenarios, free cloud mining becomes a very tempting option.

Since Bitcoin seems to be the most popular cryptocurrency of choice when it comes to cloud mining, that’s the coin I’ll be using and referring to from this point onwards.

Free Cloud Mining: A Comprehensive Guide

The debate about which one of the two (paid and free cloud mining) is better and more worthwhile is an ongoing topic in the crypto community. While there are arguments that the more you play - the more you earn, free cloud miners emphasize the lack of initial payment as the outweighing factor. Let’s take a closer look at these two types of Bitcoin cloud mining options.

What you should know, though, is that paid options tend to be better than free ones. The same applies to cryptocurrency wallets. It's better to pay for a secure and reliable hardware wallet, such as the Ledger Nano X and Trezor Model T, than choose an online option. 

Paid cloud mining comes in different plans. You, as the customer, pick a plan that suits you the most (some sites and companies even offer custom plans). Then you simply decide on a timeline, unless one is already given beforehand.

Different types of Bitcoin cloud mining plans offer different hash rates. A hash rate is simply the indicator of how powerful the rig is or, in other words, how much Bitcoin it can mine at any given point in time.

Paid cloud miners agree that the initial cost for a contract can be somewhat (or very) expensive. However, they do stress that it all depends on what type of hash rate you prefer. The bigger the upfront payment, the faster the hash rate you will receive and, in turn, the sooner you’ll start noticing profitable results.

The ability to create custom plans also plays a big part in this. A custom plan means that you can choose how much you want to pay or how fast you want the rig to mine. Some companies even offer the option to pick the time of your cloud mining process - you might want to mine for a month or two just to see what it’s like, or perhaps even jump into a lifelong contract.

Prices

When it comes to the cons of paid cloud mining, the first and obvious one would probably have to be the price. Paid cloud mining tends to get quite expensive. Depending on the amount of money you’ve decided to invest in cloud mining, even the entry plans could seem too expensive to tackle.

Free Cloud Mining: A Comprehensive Guide

Paid cloud mining entry plans usually start from around $200 - $300. Considering the usual price increases for the following levels of plans, this is a decent price to start with. With an entry plan, you get the minimum hash rate speed, while the time of the plan could vary. These entry-level cloud mining plans are mostly designed for people who have never had any previous experience with cloud mining, and simply want to get a feel for it.

Others who are serious and determined that cloud mining is the future of their financial income tend to invest a lot more from the very beginning. This isn’t a problem in itself, but such investors should be aware and do their research!

There are a lot of ill intent-driven companies out there who might let the lower levels of contracts pass. This would happen simply because they would hope that the person would eventually upgrade their contract to a more expensive one. However, they will jump to an opportunity to scam bigger investors.

Free Cloud Mining - Pros and Cons

When it comes to free Bitcoin cloud mining, the biggest debate is whether it’s worth it or not.

Free cloud mining offers people the ability to pitch into the world of cryptocurrency mining without having to need to invest any initial fees. When you search for “Bitcoin cloud mining free” on Google, hundreds of sites pop up offering their expertise and services in the free cloud mining area.

How free cloud mining works is that while hosts don’t require any initial fees, they take certain portions of your monthly revenue, in addition to the electricity costs and maintenance fees. When you’re talking about cloud Bitcoin mining, this becomes an even bigger issue.

Bitcoin is known for being one of the slowest (if not the slowest) crypto coins to mine. This is due to its popularity and market cap. A lot of people want to own at least a tiny amount of Bitcoin. Some of them want it simply for the sentiment, others - to show off in front of friends and colleagues.

Because of this, Bitcoin cloud mining (free) becomes an almost eternal process. The fact that it’s free already means that it’s going to be slow, so when you add Bitcoin (as slow crypto to mine) into the equation, any profits seem almost non-existent.

Scamming Problem

Another issue with free cloud mining is that this area is saturated with scammers and fraudsters. These hosts usually don’t see a need to provide any proof of work (or simply provide fake ones). That is because they market their services to be “*FREE*!”.

These guys will have nice and shiny homepages and “a lot of positive reviews”. However, as soon as you type in some sort of personal information, you can be sure that it’s gone for good.

If you’re looking for Bitcoin cloud mining (free) service providers, always do your research and look into more than one place. Forums and online chat rooms are a great place to start. Here, people usually offer good advice and tips on how to avoid the above-mentioned scammers.

Free Cloud Mining Sites

Now that you have a general idea of what paid and free Bitcoin cloud mining is (and the pros and cons of the two types of mining), we can talk about some of the more notable free cloud mining companies and sites.

MinerFarm

MinerFarm is one of the more well-known free cloud mining sites. It has an established reputation for being trustworthy and being approachable and easy to use.

Free Cloud Mining: A Comprehensive Guide

How MinerFarm works are that they offer you a free 100Gh/s for simply registering to their site. If this seems too low, you can always upgrade your plan to earn more. Withdrawals are easy and quick, and they also offer customer support.

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Multimining

While being paid to cloud mining providers, Multimining has their version of free cloud mining. They offer you 30 GH/s as a lifetime plan for just registering to their site.

What’s cool about Multimining is that they also have a referral program - if you bring more people to their site, you start earning more crypto. The company is an established free cloud mining site, so check them out!

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EOBOT

EOBOT is a bit less known than the other free Bitcoin cloud mining sites on this list. Nonetheless, the site is worth covering and checking out.

While not being inherently free, EOBOT offers decent cloud mining plans for almost unnoticeable fees. The above-given example shows one of their plans (if you choose to pay in USD).

Free Cloud Mining: A Comprehensive Guide

Even though EOBOT isn’t that well-known, they have been mentioned in more than a few articles talking about free Bitcoin cloud mining, so don’t hesitate to visit them yourself!

A Short Summary

With the rise of cryptocurrencies, it was just a matter of time when innovative people think of various business plans to earn money from them. Cloud mining is one of the results of such ideas.

With cryptos slowly but surely taking over the world, more and more people want to get involved. Some choose to become blockchain developers, others simply read every single bit of information they find online. Cloud Bitcoin mining is just a way for people to not only join the community of crypto enthusiasts but to also make some passive profit on the side.

When it comes to paid cloud Bitcoin mining services, everything’s pretty much straightforward. You simply pick a plan and see how the service works. The trickiest part here is probably to pick the right host.

Always check the host’s background - observe their website (or websites), read all of the reviews you can find. Also, check if they have some sort of proof of work statistics (and if they do, double-check them through other different sites).

Free cloud mining is a bit trickier. When compared to paid cloud mining, you should do a lot more research. Only then you'll be able to end up in a long-lasting business relationship with your cloud mining service provider.

There's one thing that's nice about free cloud mining, though. You get the opportunity to test the site out before deciding on investing anything into it. If the customer support, security or hash rate choices don’t suit you, you can always just turn away and go look for a new cloud mining host.

Conclusion

Whether it be free or paid cloud mining, always take your time in picking a decent host. One of the ways to do this is to look at their security measurements. Some companies offer poor security or even have a reputation of being broken into or hacked in the past.

In such cases, it doesn’t matter if those companies' hash rates are through the roof or if it offers the prettiest interfaces - they're not trustworthy.

If all of your profits and earnings get stolen, it doesn’t matter what the site looks like, right? Well, imagine if you had paid for a cloud mining service. In this case, you would risk not only losing your cryptocurrency, but also your credit card being hacked!

Some of the best paid cloud mining solutions are thought to be platforms such as CCG Mining and Genesis Mining. On the flip side, if you're looking for some parts for your mining device at home, make sure to check out Parallel Miner, too!

Keep in mind that if you want to protect your cryptocurrencies, you should choose reliable hardware wallets, such as the Ledger Nano X and Trezor Model T.

All in all, hopefully now you have a wider understanding of free cloud mining. There are a lot of options in the market - understandably, it might be difficult to pick just one. Do your research, have a critical mindset and you should be set!

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

About Article's Experts & Analysts

By Matthew MeĹžinskis

Corporate Finance Professional at ArchInvest

Matthew is a corporate finance professional. Since 2017 he has hosted the Crypto Voices podcast, and since 2023 he has created macro and money educational videos on his channel, Porkopolis Economics. Since 2018 he has tracked the global basic mone...

By Aaron S.

Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era. W...
Aaron S. , Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
Matthew MeĹžinskis , Corporate Finance Professional at ArchInvest
Matthew is a corporate finance professional. Since 2017 he has hosted the Crypto Voices podcast, and since 2023 he has created macro and money educational videos on his channel, Porkopolis Economics. Since 2018 he has tracked the global basic money supply worldwide, the only fiat money supply that is economically comparable with Bitcoin, gold, and silver.

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Recent User Reviews

Caius Glenn

Jun 15, 2024

nothing is free

Read the article and you will see that there is no free cloud mining

ImaginaryPersona

Jun 10, 2024

Yes for free

It's also free for a bit, then you have to pay for it

Alphahere

May 11, 2024

You can understand it right away

Articles for beginners to learn

MoistRixta

Apr 22, 2024

Logic

Love the logical in each parts of this tutorial

a long

Jun 13, 2024

Beware of scams

I almost got scammed by the free ad :(

Killian Harpo

Jun 11, 2024

EOBOT good price!

Really very affordable

Pier

Apr 18, 2024

Great BitDegree

Every guide is very complete and accessible

Marek Slowski

Jun 27, 2024

easy to understand

The easiest to understand in the cloud mining tutorials I've ever read

ImaginaryPerson

Jun 25, 2024

Use the cloud

I'm learning about mining virtual money, please help me!

FinalBlackberry

May 24, 2024

It is very difficult to find BTC mining service

BTC is too hard to mine now

FAQ

Can I earn Bitcoin for free?

There are ways to earn Bitcoin for free online. What you can do is become a part of different reward programs, become an affiliate marketer, shop online & get Bitcoins as a reward, or start crypto mining.

What is the best free cloud miner?

If you're looking for the best free cloud miner, you should check out these options:

  • MinerFarm
  • Multimining
  • EOBOT
When choosing a free cloud mining platform, you should be extremely careful - there are many scammers online. If you'd like to acquire crypto in a different manner, you should check out a top-rated exchange, instead - Binance is a great example.

How to pick the best crypto exchange for yourself?

Picking out the best crypto exchange for yourself, you should always focus on maintaining a balance between the essential features that all top crypto exchanges should have, and those that are important to you, personally. For example, all of the best exchanges should possess top-tier security features, but if you're looking to trade only the main cryptocurrencies, you probably don't really care too much about the variety of coins available on the exchange. It's all a case-by-case scenario!

Which cryptocurrency exchange is best for beginners?

Reading through various best crypto exchange reviews online, you're bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn't encounter any difficulties with either of the top-rated exchanges. That said, many users believe that KuCoin is one of the simpler exchanges on the current market.

What is the difference between a crypto exchange and a brokerage?

In layman's terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman - it connects you (your offer or request) with that other person (the seller or the buyer). With a brokerage, however, there is no “other person” - you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term - exchange. This is done for the sake of simplicity.

Are all the top cryptocurrency exchanges based in the United States?

No, definitely not! While some of the top cryptocurrency exchanges are, indeed, based in the United States (i.e. KuCoin or Kraken), there are other very well-known industry leaders that are located all over the world. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. While there are many reasons for why an exchange would prefer to be based in one location over another, most of them boil down to business intricacies, and usually have no effect on the user of the platform.

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