Alexander Petersons, crypto-enthusiast and a product director of cloud mining service Hashtoro.com, explains how to start earning crypto eliminating high market entry threshold.
Of course, you may have heard some stories about how people got extremely rich in November 2017- January 2018. At these dates, BTC and many other cryptos experienced a massive increase in value, allowing their holders to multiply their savings by 20-50 times. While everyone is awaiting the second wave, when it will be possible to get rich effortlessly again, I’m going to get you acquainted with probably the cheapest opportunity on the market to start earning crypto.
Cloud Mining Service
Hashtoro offers Bitcoin cloud mining, Litecoin cloud mining and Ethereum cloud mining contracts for its customers. The cheapest option is to purchase a one-year BTC contract for 25$. At Hashtoro, at the current exchange rate and network difficulty, you would be able to earn 50$ in a year (excluding service costs), meaning you are doubling your investment in just 12 months.
That’s 100% annually, which is better than any other alternative investment option. Keep in mind that this calculation is based on constancy, which is never the case in the dynamic cryptocurrency world. Moreover, technical specialists of Hashtoro spin up their Bitmain Antminers which gives a hash rate increase of 10-20%. That spin-up consequently accounts for an additional 10-20% of the customer’s profit.
As a rule of thumb, history tends to repeat itself. On August 20th, 2017 the price of BTC was just 4100$. This year, it is more than 30% more expensive and worth 6400$. Even though its rate has been falling consistently since its peak in December 2017, BTC is still worth more this year than the last.
Let’s suppose that a similar situation takes place this year, and Bitcoin will reach its highest peak of 20 000$ by December and maybe even surpass it. In case of such a scenario, the profit will also be tripled. This means that as a whole you will receive around 150$. Considering that your initial investment was just 25$, this is a six times increase. A more than profitable result, considering today’s unstable market environment.
It is also relatively risk-less, as your hash rate is guaranteed to you by the contract and cannot be affected by any means. In the worst-case scenario, you will be able to double your money, and with service cost included you will be able to break-even in 12 months period.
Another beautiful feature about Hashtoro is that they mine all three cryptocurrencies, LTC, BTC, and Ethereum, in equal proportions, to spread out risks. For instance, early in the year, it was very profitable to mine Ethereum and Litecoin, but when their prices fell, it became more lucrative to mine Bitcoin.
Their system determines which currency is the most profitable to mine at the current moment and dynamically switches to mine that particular currency. At the end of the day, the currency is exchanged for the one the client chose to mine. Tests have shown that this allows the client to generate up to 10% more profit.
As you might notice, there is a number of perks that make this cloud mining company stand out. 10-20% increased profits from the equipment spin-up and another 10% from the dynamic switch system. That is already potentially 1/3 more additional profits.
And don’t forget about other bonuses such as instant activation. Normally, you would need to wait a long time until the equipment is delivered. Shipment and customs might take a while. Whereas with Hashtoro you start getting your profits straightaway, after payment for a contract is made. The service also features daily pay-outs, so you can always reinvest your earnings to purchase more hash rate or just hold them at your Hashtoro wallet, waiting for the price of your crypto to go up, thus maximizing the profits.
From the article above it is evident that there is no cheaper and more natural way to engage the world of cryptocurrency than by purchasing a cloud mining contract. There are several big players available in the market. However, not a single one of them offers the minimum threshold at just 25$. Moreover, no company is offering up to 30% more profit based on their neural network technologies advantages and equipment acceleration.
Any other means of entering the crypto world will cost a fortune. The price of ASIC nowadays is between 500$ and 1500$, according to Amazon. Therefore, the cheapest and the most risk-less option to earn crypto is through a cloud mining contract.
Alexander Petersons, crypto-enthusiast, author of articles on IT and blockchain, is a product director of cloud mining service Hashtoro.com. Having graduated from Riga Technical University and Cass business school (The UK) taking MSc in Corporate Finance, he started his professional career in small IT companies in Europe, then moved to USA, where he worked on the development of mobile processors in Telecommunications equipment company Qualcomm. Since 2012, with a team of like-minded people Alexander has been working towards creating their own cryptocurrency.