LIMASSOL, Cyprus, Feb. 7, 2023 /PRNewswire/ — Many people want to mine Bitcoin, but not all of them have the initial investment amount to buy expensive mining equipment. TU experts selected the Best Bitcoin Mining Sites to use as an alternative.
Bitcoin confidently retains the status of one of the most popular coins to invest in. The cryptocurrency can be bought on popular exchanges, via a broker, or mine. Professional Bitcoin mining requires considerable investment for purchasing equipment, but traders can also mine the first cryptocurrency on specialized online platforms. Traders Union experts selected the Best Bitcoin Mining Sites and compared their conditions.
Things to know about Bitcoin cloud mining sites
By using the functionality of cloud mining sites, users can mine Bitcoin without purchasing the equipment. The mined coins can be withdrawn to a user’s wallet or invested in purchasing additional capacity to increase profitability of mining.
Bitcoin cloud mining offers many advantages:
- an opportunity to mine a popular cryptocurrency and grow one’s investment portfolio;
- the platforms project high level of personal data protection; the mining process is transparent and anonymous;
- Bitcoin is a high-liquidity asset; the coins can always be exchanged for traditional currencies or gold.
Users should also be aware of some disadvantages of this method, including the following:
- mining process on cloud sites is not sufficiently regulated and can be vulnerable to hacker attacks or other fraudulent actions;
- just like other cryptocurrencies, Bitcoin is subject to volatility: the asset’s price can rise and fall rapidly, influencing the size of the investment portfolio.
5 Best Bitcoin Mining Sites
TU experts recommend that users consider the following criteria when choosing a cloud mining site: minimum deposit, number of coins available for mining, daily payouts, and trading fees. The best BTC cloud mining sites according to Traders Union are:
- Genesis Mining
- IQ Mining
StormGain is one of the best platforms for mining Bitcoin. A user-friendly toolbar allows users to monitor asset prices in real-time mode. The platform also features a full range of chart-building tools and technical analysis of the market. The company offers a minimum deposit of $100 and 0.25% fee.
SOURCE Traders Union