Is cloud mining site profitable ?

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With a lot of crypto currency in the world ranging from the most popular Bitcoin to meme coin like Doge ....Cloud mining has helped people who couldn't buy to have coins in their wallet.. so there are few sites and apps such as pi ,bee,etc...Do you think cloud mining is a good way to earn coin?
 

sincerem

VIP Contributor
Majority of cloud mining sites are red flagged this days cos of their malicious and suspicious ways of running their platform. They claim to offer large sum of ROI when you deposit some amount of coins via their cloud mining site that isn't regulated. Such kind of investment doesn't yield anything, it's risky type cos they aren't mining any genuine crypto.
 
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Chibson

VIP Contributor
There are so many websites that allows you to mine cryptocurrency but the problem I have with many of them is that they are not genuine and are holy trying to scam people. It is better for you to invest in cryptocurrency and learn how to trade rather than trying to mine it because mining requires a lot of energy and of course some computer configurations
 
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Destinyfejiro

Destinyfejiro

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There are so many websites that allows you to mine cryptocurrency but the problem I have with many of them is that they are not genuine and are holy trying to scam people. It is better for you to invest in cryptocurrency and learn how to trade rather than trying to mine it because mining requires a lot of energy and of course some computer configurations
I have few minings that are legit though and you don't need to invest anything you just have to sign up and start earning . Well I don't know how to trade can you teach me
 
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Destinyfejiro

Destinyfejiro

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Majority of cloud mining sites are red flagged this days cos of their malicious and suspicious ways of running their platform. They claim to offer large sum of ROI when you deposit some amount of coins via their cloud mining site that isn't regulated. Such kind of investment doesn't yield anything, it's risky type cos they aren't mining any genuine crypto.
Well one should do enough research before depositing in any mining site .....I do alot of mining and all of them are basically free.....it's risky but then it's free what have you got to lose ..nothing
 
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sincerem

VIP Contributor
Well one should do enough research before depositing in any mining site .....I do alot of mining and all of them are basically free.....it's risky but then it's free what have you got to lose ..nothing
Its better that way, since you didn't invest your funds just ON your miner and let it mine isn't bad. If you aren't opportune to earn from it, you move on, knowing too well you lost only data and time and not using a three things. Data, time, and money as start up capital. The only free mining I'm doing now is PI node which isn't out yet, i wonder when it will become tradable.
 
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Destinyfejiro

Destinyfejiro

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Its better that way, since you didn't invest your funds just ON your miner and let it mine isn't bad. If you aren't opportune to earn from it, you move on, knowing too well you lost only data and time and not using a three things. Data, time, and money as start up capital. The only free mining I'm doing now is PI node which isn't out yet, i wonder when it will become tradable.
Same too I'm doing eagle mining,btc mining, pi mining,Eth mining all are free pi and eagle not yet tradable if anything happens I only wasted time and data .... to me it's safer that way
 
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sincerem

VIP Contributor
Same too I'm doing eagle mining,btc mining, pi mining,Eth mining all are free pi and eagle not yet tradable if anything happens I only wasted time and data .... to me it's safer that way.
Its quite safe that way since their is no funds invested into. Its just data, and time invested into. It will be devastating that, at last it never worked out. And money was invested, together with time and data. I'm not praying that the negative should happen, we're both optimistic that the best will come in front from those airdrop coins.
 
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Destinyfejiro

Destinyfejiro

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Its quite safe that way since their is no funds invested into. Its just data, and time invested into. It will be devastating that, at last it never worked out. And money was invested, together with time and data. I'm not praying that the negative should happen, we're both optimistic that the best will come in front from those airdrop coins.
Yeah positivity us the key...cause to me it will be terrible for they (the coins) like pi, eagel to get listed on top exchanges and their price starts at as 0.5$ and you don't have any ..that's really bad that's why even though the coins are still progressing it's better you have and hope it gets listed it's free soooo there's nothing to lose ...but when funds are involved the risk is high
 
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sincerem

VIP Contributor
Yeah positivity us the key...cause to me it will be terrible for they (the coins) like pi, eagel to get listed on top exchanges and their price starts at as 0.5$ and you don't have any ..that's really bad that's why even though the coins are still progressing it's better you have and hope it gets listed it's free soooo there's nothing to lose ...but when funds are involved the risk is high
I got your points when it comes to free cloud mining sites without investment still on its beta days. It will be kinda promising to have some of this coins through free mining to have realistic chance of gaining through it when it eventually comes live. I have been mining PI node for long time now, I've mined reasonable amount too. It will be nice if the coin starts at $0.5 when it is tradable.
 
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btaliat

VIP Contributor
Ever since coin pot has closed, I don't take cloud mining serious. I have been on pi since it was introduced around last year March and up till now, I don't know its purpose. Those many people have claimed to have gained from these mining of a thing but I have not succeed in getting coins through them.
 
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Good-Guy

VIP Contributor
Almost all of the cloud mining sites are a scam. Cloud mining platforms are actually ponzi scheme that have a little or nothing to do with mining cryptocurrencies in reality. There have been instances where even many reliable cloud mining sites became a scam a year or two years after getting launched. I would recommend you to stay away from such sites.
 
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Destinyfejiro

Destinyfejiro

Member
Wow that's cool, but I opened an account 2 years ago and abadoned it just started recently .....just got to 100 pi yesterday, so I am hoping before it becomes tradeable I have a good amount of pi in my account
I got your points when it comes to free cloud mining sites without investment still on its beta days. It will be kinda promising to have some of this coins through free mining to have realistic chance of gaining through it when it eventually comes live. I have been mining PI node for long time now, I've mined reasonable amount too. It will be nice if the coin starts at $0.5 when it is tradable.
 
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sincerem

VIP Contributor
Wow that's cool, but I opened an account 2 years ago and abadoned it just started recently .....just got to 100 pi yesterday, so I am hoping before it becomes tradeable I have a good amount of pi in my account
Hmm, its really long you created PI wallet, i was thinking PI came into existence last year. I never knew they've been in operation since two or more years ago. I just don't know what's holding them back, not to get going with their coin coming live. I don't know if they're building coin that will be greater than BTC in value, only them knows.
 
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Destinyfejiro

Destinyfejiro

Member
Hmm, its really long you created PI wallet, i was thinking PI came into existence last year. I never knew they've been in operation since two or more years ago. I just don't know what's holding them back, not to get going with their coin coming live. I don't know if they're building coin that will be greater than BTC in value, only them knows.
Yeah I wonder what's taking them so long to make their coin tradeable .....building a coin greater than BTC in value hmm that's sorta hard in my opinion...but who knows I just hope when it's finally out , it starts with a good value
 
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sincerem

VIP Contributor
Yeah I wonder what's taking them so long to make their coin tradeable .....building a coin greater than BTC in value hmm that's sorta hard in my opinion...but who knows I just hope when it's finally out , it starts with a good value
Who knows, maybe they're planning to build something better that might battle BTC in the future. But at least they should come live and stop keeping us waiting too long. No one love a long lasting project that doesn't come live. That's why lots of PI users are simply growing infuriated not seeing the coin list on coinmarketcap.
 
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lamia5765

Verified member
Cloud mining in reality is a new generation of HYIP websites.
So in cloud mining you are buying virtual antiminer or virtual hashpower however webmaster is not buying no antiminer or hashpower.
If you buy an antiminer for 499 $ and getting 4,99 $ return per day for 1 year like 1 % for 365 days it is same like HYIP if you buy 100 hashpower for 29 $ to increase from 4,99 $ to 5,99 $ per day it is same story so virtual cloud mining is using old users investment to pay new users investment up to one day deposits are bit far greater than cashout then cloud mining is closed.
 
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Lens1000

VIP Contributor
Not all the mining sites are scam
I have used one and I have make withdrawal once , It's 100%legit . If you want, I can send you a link to the site for registration. It's a wonderful sites and it's very common now. People are investing on it and it's bringing in cool money but very slow if you do not buy the mining speed by increasing the hash rate.
 
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Sherman198

VIP Contributor
Literally, most cloud mining are scam this days. When cloud mining first came out, you can easily make money through mining the major cryptocurrencies, you just need to buy hashrates. But now many of them are on the internet now. If you invested with them by buying their hashrates you will not make your money back or profits before they will crash.
 
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Mertayasa

Valued Contributor
The answer is depend on the cloud mining site you working on. Because based on my experience most of cloud mining sites are scam. Usually they are paying their members only at the first withdrawal, when we ask for second cash out the site will not give you your money. But it's not all the cloud mining site is scam, you should do a deep research before decide to join them
 
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