Cryptocurrency miners are one of the main figures in the crypto economy. They mint new coins that are more often than not sold on the market so they can keep their operations running. Miners help secure the network and are rewarded for doing so.
Most cryptocurrencies – including bitcoin, ether, and litecoin – reward miners with a specific amount of coins per block found, plus the amount of collected fees included in the transactions in the block they found.
When blockchains get clogged over large transaction volumes, miners make a profit as users start competing with each other to get their transactions included in the next block. This competition sees them bid on higher fees, that go directly to the miners that find the right blocks.
Earlier this year, when the decentralized finance (DeFi) space started booming, Ethereum miners’ revenues hit a two-year high of $602,000 per day. While the figure is split amongst all of the miners on the network, it’s clear from the chart below how much more miners started earning.
📈 #Ethereum $ETH Miner Revenue (1d MA) just reached a 2-year high of $602,139.48— glassnode alerts (@glassnodealerts) September 1, 2020
Previous 2-year high of $599,529.97 was observed on 13 August 2020
View metric:https://t.co/Wr0bMKQqt8 pic.twitter.com/9oOOHTm4Yy
Getting into cryptocurrency mining can, however, be challenging for newcomers to the space. Finding the right hardware to buy to make a profit is a challenge, and setting it up properly with the right cooling system and finding the right energy prices to keep healthy margins may be reserved for larger operations only.
To tackle these challenges cloud mining was created. Cloud mining lets users mine cryptoassets using rented cloud computing power without having to buy, install, and run the hardware themselves. The service makes mining accessible to more people, but often cloud mining providers charge hidden maintenance and energy fees that cut away investors’ profits.
Enter ScryptCube, the first cloud cryptocurrency mining firm that puts accessibly and ease-of-use ahead of fees. With ScryptCube, users can contribute to the security of their favorite cryptocurrency network, while earning passive income through the firm’s affordable cloud mining contracts.
How to Mine Crypto With ScryptCube
ScryptCube offers users affordable cloud mining contracts, starting from 100 GH/s. This means users can start mining with a very low initial investment and take their time to decide whether the service is the right one for them.
The firm keeps prices low by using the proper equipment and hiring experts to configure it properly. Mining using favorable energy prices also helps it keep down cryptocurrency cloud mining contract costs. ScryptCube’s data centers host hundreds of miners and the firm charges no maintenance fees.
To start mining cryptocurrency with ScryptCube you just need to follow three simple steps:
- Register for an account – You need an account to both pay for the hashrate and to withdraw your funds later on. Your account will also give you access to the dashboard where you can monitor performance.
- Choose a mining plan – ScryptCube offers various mining plans on the Bitcoin network, but will soon launch ETHASH to mine Ethereum, and Beam Hash to mine Beam.
- Buy the hashrate you want – Finally, you just need to choose how much hashrate you’re looking for and pay using Visa, Mastercard, or Bitcoin. After the payment is confirmed, mining begins immediately.
That’s it – you are now contributing to the security of the cryptocurrency network you chose, and making a passive income doing so. Before you start mining, it’s worth pointing out you should evaluate whether your investment will be profitable. You can do so using the mining calculator offered by ScryptCube.
To assist users the firm offers a detailed FAQ question and has a support team available around the clock, ready to answer users’ queries. ScryptCube guarantees uptime, no maintenance fees, and detailed states on contracted hashrate performance.
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