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Best mining GPU 2021: The best graphics card for mining Bitcoin and Ethereum

Cryptocurrency mining is a heavy process for the GPU, requiring the component (and your PC) to be running hard for prolonged periods of time. While it’s possible to choose the best graphics card and start mining, this may not be the best value route, especially when considering power draw and electricity tariffs. The RTX 3080 is an amazing GPU, but there are other cards worth considering for crypto mining. Here are our favorites.

The best GPU for crypto at a glance

  1. NVIDIA GeForce RTX 3060 Ti — Best overall: 60MH/s, 200W TDP, 8GB GDDR6 VRAM, $399 MSRP.
  2. AMD Radeon RX 5700 XT — Runner-up: 54MH/s, 225W TDP, 8GB GDDR6 VRAM, $399 MSRP.
  3. NVIDIA GeForce RTX 2070 — Best value: 36MH/s, 225W TDP, 8GB GDDR6 VRAM, $499 MSRP.
  4. NVIDIA GeForce RTX 3090 — Best performance: 121MH/s, 350W TDP, 24GB GDDR6X VRAM, $1,499 MSRP.
  5. AMD Radeon RX 580 — Best budget AMD: 28MH/s, 185W TDP, 8GB GDDR5 VRAM, $229 MSRP.
  6. NVIDIA GeForce GTX 1660 SUPER — Best budget NVIDIA: 26MH/s, 125W TDP, 6GB GDDR6 VRAM, $229 MSRP.

Best mining GPU 2021:

  • 1. NVIDIA GeForce RTX 3060 Ti
  • 2. AMD Radeon RX 5700 XT
  • 3. NVIDIA GeForce RTX 2070
  • 4. NVIDIA GeForce RTX 3090
  • 5. AMD Radeon RX 580
  • 6. NVIDIA GeForce GTX 1660 SUPER

What is the best GPU for crypto mining?

Choosing the best graphics card for crypto mining isn’t as simple as picking the absolute most expensive card you can locate and calling it a day. There are various factors to consider when shopping around for a new GPU to (hopefully) make some money with. The most important factor of any GPU for crypto mining is efficiency — you want a high hash rate for as little electricity as possible.

Take our highest recommendation here, for example. It’s the NVIDIA GeForce 3060 Ti, an incredible GPU for gaming, but it’s also excellent for crypto mining. It won’t win awards for the highest hash rate, but for the more affordable price, it’ll get you up and running without issue. If you wanted something a little cheaper without sacrificing too much in performance, the NVIDIA GeForce RTX 2070 is your guy.

But there are countless other GPUs that are worth considering and not only from NVIDIA. The AMD Radeon RX 5700 XT is our favorite GPU for value, offering an impressive hash rate for the asking price. Then there’s the AMD Radeon RX 580, which is perfect for those on a tight budget who wish to save a few Bitcoins or Ethereum to weather a financial storm.

You don’t have to spend much at all to make money mining cryptocurrency. So long as the hash rate will pull in coins for you to sell and make enough to cover electricity costs, you’re already in the green. Once you factor in a few months to pay off the GPU and you’re in profit —and that’s not taking into account the resell value of the card itself.

1. NVIDIA GeForce RTX 3060 Ti: Best overall GPU for crypto mining

Bottom line: It takes a lot for a GPU to be recommended as the best overall choice, but that’s precisely what the NVIDIA GeForce RTX 3060 Ti manages to achieve. It has a hashrate of around 60MH/s once you’ve optimized everything, and the low 200W TDP makes it easier to manage heat output, as well as enjoy a high level of efficiency.

Hashrate: 60MH/s | VRAM: 8GB GDDR6 | TDP: 200W | Power input: 1x 12-pin PCIe (FE only) or 1x 8-pin PCIe

Manufacturer Version Vendor
NVIDIA GeForce RTX 3060 Ti See at Amazon
NVIDIA GeForce RTX 3060 Ti See at Best Buy
NVIDIA GeForce RTX 3060 Ti See at Newegg

Pros:

  • 60MH/s hashrate
  • 8GB GDDR6 VRAM
  • 200W
  • 4,864 CUDA cores
  • Affordable RTX 30-series GPU

Cons:

  • Awkward 12-pin connector on FE cards

The NVIDIA GeForce RTX 3060 Ti is a monster of a graphics card. Usually, we’d class a $399 GPU as something reserved for budget PC builds or for those who want to enjoy games on a 1080p monitor. The 3060 Ti switches all that up, based on NVIDIA’s latest Ampere architecture. This card is wild for both gaming and mining.

Despite being priced at somewhat of a bargain, it bests the RTX 2080 SUPER in raw performance for 1080p and 1440p gaming. That’s mighty impressive, and it’s likely going to be extremely popular for anyone who’s not too interested in 4K gaming. The same goes for mining, besting the 2080 SUPER in performance and efficiency.

It won’t win awards for the highest earnings nor the fastest hashrate, but if you want a stable income per month with relatively low energy costs, this is about as good as you can get. Just watch out for the Founder’s Edition cards as they have awkward 12-pin PCIe connections.

NVIDIA GeForce RTX 3060 Ti GPU

NVIDIA’s GeForce RTX 3060 Ti is not the fastest graphics card in the company’s latest family of GPUs, but it offers fantastic potential returns for the initial investment. It’s also pretty good at gaming too!

  • See at Amazon
  • See at Best Buy
  • See at Newegg

When deciding on a GPU for crypto mining, you need to bear in mind a few factors. Do you want to pay more upfront now and potentially earn higher returns? Or do you feel as though the mining scene will dissipate slightly with lower returns and wish to spend only a small amount on a GPU to make a little extra on the side?

The cryptocurrency market is a financial one, and that means it’s extremely susceptible to media coverage and human emotion. Take the environmental damning reports about Bitcoin that coincided with the Chinese crackdown to send the price spiraling. If you’re about to spend $2,000 on a GPU to mine cryptocurrencies, you best be sure you can at least recuperate the initial purchase cost.

This is why we’re not only recommending the most powerful (and expensive) GPUs available today. That doesn’t make sense in the current climate, but it’s also outright bad advice for those who are new to the wonderful world of mining digital currency. Unlike gaming, where only the best GPU you can afford will do, choosing one for crypto mining is a little more challenging.


2. AMD Radeon RX 5700 XT: Best runner-up GPU for crypto mining

Bottom line: It’s not just NVIDIA GPUs that are worth buying for cryptocurrency mining. AMD makes some excellent graphics cards like the RX 5700 XT. While it’s not quite as good as our RTX 3060 Ti top pick, this card will still be able to push through a hashrate of 54MH/s with the same 8GB of GDDR6 VRAM.

Hashrate: 54MH/s | VRAM: 8GB GDDR6 | TDP: 225W | Power input: 2x 8-pin PCIe

Manufacturer Version Vendor
AMD Radeon RX 5700 XT See at Amazon
AMD Radeon RX 5700 XT See at Newegg

Pros:

  • 54MH/s hashrate
  • 8GB GGDR6 VRAM
  • 225W
  • Great value
  • Efficient performance

Cons:

  • Some instability issues
  • Lacks latest-gen AMD features

AMD made a large leap with the RDNA GPUs like the RX 5700 XT. It’s based on a 7nm manufacturing process and makes even the company’s own older Radeon cards look ancient and power-hungry. While, again, the RX 5700 XT isn’t the latest and greatest from AMD, it’s actually one of the best value propositions for crypto mining.

It’s good enough for 1440p gaming, just like the RTX 3060 Ti, and is very good at mining. While AMD cards miss out on some of the gamer-focused features like DLSS 2.0 and the same level of ray tracing like in NVIDIA GPUs, it’s mining where this GPU really takes off. Its average hashrate is just shy of 55MH/s, which isn’t far off the 3060 Ti, and these cards are found at considerably lower prices.

If you want to start mining, the RX 5700 XT is a worthwhile choice to consider.

Sapphire Nitro+ RX 5700 XT

AMD Radeon RX 5700 XT GPU

You could go for the RX 6800, which costs a little more but is capable of a higher frame rate, but the 5700 XT is just such a good value proposition. If you’re just starting, this is a good GPU to choose.


3. NVIDIA GeForce RTX 2070: Best GPU for value

Bottom line: The NVIDIA GeForce RTX 2070 may be from the previous generation of cards, but it’s still an excellent GPU for gaming and crypto mining. It’s possible to achieve a hashrate of 36MH/s, which isn’t too bad considering the lower cost of these older GPUs, as well as the low power draw.

Hashrate: 36MH/s | VRAM: 8GB GDDR6 | TDP: 225W | Power input: 2x 8-pin PCIe

Manufacturer Version Vendor
NVIDIA GeForce RTX 2070 See at Amazon
NVIDIA GeForce RTX 2070 See at Newegg

Pros:

  • 36MH/s hashrate
  • 8GB GDDR6 VRAM
  • 225W
  • 2,304 CUDA cores
  • Good value

Cons:

  • Older generation

The NVIDIA GeForce RTX 2070 is a great GPU for gaming, but it’s also a great option for value mining rigs. So long as you can locate one at a decent price, you’ll be enjoying anywhere up to 40MH/s for the hashrate, which should bring in considerable passive income with a power draw of around 225W.

The best part is should you choose to stop mining, this GPU can resell at a price that will recuperate your initial investment. But if you fancy building a gaming PC, it’ll also be able to handle even the more recent collection of PC games. Because it has been around for a while, you can even go one step further with your mining setup and add water cooling with blocks.

NVIDIA GeForce RTX 2070 GPU

If you can’t get your hands on the RTX 3060 Ti, the RTX 2070 is a great secondary option for value. It may be from an older generation of cards, but it’s still great for crypto mining.


4. NVIDIA GeForce RTX 3090: Best GPU for mining performance

Bottom line: This is it, the big one. The RTX 3090 is the most powerful GPU from NVIDIA’s RTX 30 series to date. It has everything you need to create one powerful mining rig. I’m talking a hash rate of 121MH/s, 24GB of GDDR6X VRAM, more than 10,000 CUDA cores for gaming. It’s a monster.

Hashrate: 121MH/s | VRAM: 24GB GDDR6X | TDP: 350W | Power input: 1x 12-pin PCIe (FE only) or 2x 8-pin PCIe

Manufacturer Version Vendor
NVIDIA GeForce RTX 3090 See at Amazon $3449 at Walmart
NVIDIA GeForce RTX 3090 See at Best Buy
NVIDIA GeForce RTX 3090 See at Newegg

Pros:

  • 121MH/s hashrate
  • 24GB GDDR6X VRAM
  • 350W
  • 10,496 CUDA cores
  • Great performance
  • Amazing for gaming too

Cons:

  • Expensive
  • Power-hungry

It’s an obvious choice for “best performance,” but the RTX 3090 from NVIDIA truly is in a class of its own. It’s incredible at gaming, pushing boundaries in 4K (and some even mention 8K if you can believe it), and crypto mining. While AMD has undoubtedly cut into NVIDIA’s claim to the GPU throne with its Radeon RX 6000 cards, the top-tier option still belongs to Team Green.

For gaming, DLSS 2.0 and 2.1 are perhaps some of the most impressive features that come standard with this GPU. It employs dedicated Tensor cores to run AI rendering in real-time, effectively boosting frame rates while also making frames come out at a much higher resolution. Because ray tracing can be detrimental to performance, DLSS is the perfect pairing.

The RTX 3090 has some beefy specs for mining, including a whopping 24GB of GDDR6X VRAM and 10,496 CUDA cores. You could easily pull well into the three digits each month, and that’s after taking into account electricity (depending on your area).

NVIDIA GeForce RTX 3090 GPU

This is about as good as you can get right now in terms of gaming performance. The same goes for GPU mining. You’ll struggle to find a better option for returns so long as you can afford the initial investment.


5. AMD Radeon RX 580: Best budget AMD GPU for crypto mining

Bottom line: If you don’t have much of a budget to spare on a GPU for crypto mining, fear not as there are some great cards out there for a low price. The Radeon RX 580 is an old GPU, but it’s still capable of hitting 28MH/s, which makes for a tidy profit. You’ll need a good few months to pay off the cost of the card, but then you’re set for a trickle of income.

Hashrate: 28MH/s | VRAM: 8GB GDDR5 | TDP: 185W | Power input: 1x 8-pin PCIe

Manufacturer Version Vendor
AMD Radeon RX 580 See at Amazon
AMD Radeon RX 580 See at Newegg

Pros:

  • 28MH/s hashrate
  • 8GB GDDR5 VRAM
  • 185W
  • Affordable

Cons:

  • Lower rate of return
  • Higher power draw

AMD’s Radeon RX 580 is a GPU that may not be near the top of mind for gamers and miners alike, but if you’re just wanting to earn a few pennies here and there, this graphics card will do just that without issue. Running an optimized configuration will see a hashrate of around 28MH/s, which isn’t too bad at 185W (that, like other GPUs, can be dropped considerably).

Crypto mining is all about memory and having 8GB of GDDR5 is great for running NiceHash and other mining solutions. The rate of return is slow, so don’t go buying a bunch of these if you have the expectation that mining earnings will continue at current levels well into the future.

AMD Radeon RX 580 GPU

Even something like an AMD Radeon RX 580 will be able to earn you some small change each day. It may not be the most capable mining (or gaming) GPU around, but this is a great choice if you’re only playing around with crypto.


6. NVIDIA GeForce GTX 1660 SUPER: Best budget NVIDIA GPU for crypto mining

Bottom line: You don’t need the most powerful GPU to make a little mining crypto, and the NVIDIA GTX 1660 SUPER is a fine example of this. It’s got 6GB of speedy GDDR6 VRAM, a TDP of just 125W, and can comfortably achieve a hash rate of 26MH/s, all for a low price tag.

Hashrate: 26MH/s | VRAM: 6GB GDDR6 | TDP: 125W | Power input: 1x 8-pin PCIe

Manufacturer Version Vendor
NVIDIA GeForce GTX 1660 SUPER See at Amazon
NVIDIA GeForce GTX 1660 SUPER See at Newegg

Pros:

  • 26MH/s hashrate
  • 6GB GDDR6 VRAM
  • 125W
  • 1,408 CUDA cores
  • Affordable
  • Low power draw

Cons:

  • Lower rate of return

NVIDIA’s GTX 1660 SUPER is an interesting, unique GPU. It’s built on the same Turing architecture as the RTX 20 series of GPUs, but it doesn’t have dedicated ray-tracing cores or fancy features like DLSS. It’s designed to be a budget-friendly graphics card with enough power to handle the latest games at 1080p.

For mining, the story is the same. You’ll find it far down on the earnings chart with a hashrate of just 26MH/s, but this is at a power draw of around 125W, which is great if you live in an area with high electricity costs. Leave this little puppy running continuously, and you’ll bag yourself some income to spend or save.

Other highlights of the GTX 1660 SUPER include 6GB of GDDR6 VRAM and high memory bandwidth at 336GB/s. Not bad if you can find one at a reasonable price!

NVIDIA GeForce GTX 1660 SUPER GPU

You can use an affordable, low-power GPU like the GTX 1660 SUPER and still make some profit each day. It won’t be anything near our other recommendations, but it’s great for starting out.


What about all other GPUs?

There are plenty of GPUs out there and many of them offer considerably high hashrates, making them ideal for cryptocurrency mining. We couldn’t include every graphics card here and so this collection only includes handpicked recommendations that cover multiple price ranges.

So long as the GPU you consider buying will make more money than the electrical cost to run the PC, you’re good to go. Leave it running for a few months and you’ll have accumulated enough to pay off the card. You could stop here and sell the card to recuperate some of the initial cost or continue with passive income.

What makes a good GPU for crypto mining?

Mining cryptocurrency requires different priorities in a GPU to gaming, and the most powerful cards on the market aren’t necessarily the most expensive. Going alone and mining cryptocurrencies yourself is a daunting task, which is why it’s better to be part of a mining pool.

Generally speaking, you’ll get the best all-around results with an NVIDIA GeForce RTX 3060 Ti, although the AMD RX 5700 XT is a worthy alternative if you’re on a tighter budget. That is if you can locate any GPU in stock. Both of these GPUs are great at solving the algorithms and earning some passive income.

How to make money mining crypto on your PC

We’ve written up a guide on how to mine cryptocurrency and earn passive income with your gaming PC. It’s an incredibly simple process if you simply wish to get set up and running in a matter of moments using software such as NiceHash.

Cloud Mining: Advantages and Disadvantages, How To Get Started

Now, it is possible to create cryptocurrency via cloud computing. However, what do you mean by cloud mining?

With the popularity of the cryptocurrency industry new opportunities for earning income have emerged that are exclusive to it. The most prominent of them is cryptocurrency mining. It gives participants the status of being stakeholders on various blockchains. They put their time, their computing power, and cash into the process of securing and validating their preferred cryptocurrency network.

There are a variety of ways to take part in the cryptocurrency mining industry. You can choose an approach that is hands-on or avoid the technical tasks necessary to make crypto mining successful. In this article, we will focus specifically on the second. In this guide, you’ll find all you should know about selecting a more relaxed approach to crypto mining or the more popularly known cloud mining. However, first, you must have an understanding of the way crypto mining generally works.

What Is Crypto Mining?

The process of mining crypto involves a series of steps designed to secure the decentralized nature of for a particular blockchain network. By their actions miners verify transactions, and in turn produce the new supply of the cryptocurrency.

A crypto miner should:

  • operate a node in the network known as a blockchain network.
  • Perform specific tasks in order to identify the next block
  • add new transactions to the block
  • make sure there is no duplicate spending of cryptocurrency.

After the completion of these steps The Blockchain network will pay successful miners with new coins. This is the main distribution mechanism employed for Proof-of-Work (PoW) blockchains (blockchains that allow mining). Be aware that the particular tasks assigned to miners is contingent on the kind of PoW mechanism used.

For instance it is for instance, the bitcoin network as well as other blockchains that utilize the SHA256 (secure hash algorithm 256 bits) system require miners to in solving extremely complicated mathematical problems before an entirely new block can be discovered. This process requires a significant amount of computing power, so miners who are determined to succeed should be capable of investing a certain amount of money in the right hardware that will give them the chance of running an efficient mining operation.

Additionally, be aware that blockchain networks are constructed in such a manner that they constantly alter the mining difficulty for new blocks to be created every day at a predetermined time.

So, when there is a growth in number of nodes mining within any given network and/or an expansion in computational capacity of the existing mining nodes in the network, its mining difficulty grows in line with the increase. If this isn’t the case the network adjusts itself to ease the burden of solving the equation SHA-256. In the majority of cases, prospective miners must invest in high-end and specialized mining equipment to be able to become profitable.

In this regard this in mind, the steps to be a successful cryptocurrency miner:

  • Investment in high-performing mining rigs. A quality piece of mining equipment could be as high as $8,000 and just one machine is not enough for miner looking to earn profits.
  • Acquiring the coding skills and technical knowledge required to run a complete node in a blockchain network.
  • The cost of electricity for operating and cooling mining equipment continuously can eat into the profits of miners. Therefore, miners should look for a low-cost power source or select locations with cooler environments to cut down on the amount of energy required to cool the mining equipment.

In short the term “independent” means that a cryptocurrency miner should possess the technical expertise as well as a strong dedication and capital to be able to achieve being successful. Because not all crypto miners are able to meet these criteria and scale up further in a hands-off manner, other alternatives can be considered. Cloud mining comes into play.

Cloud Mining: What Is It?

After you’ve grasped the fundamentals of crypto mining, it’ll be much easier to understand the concept the concept of cloud mining. It is, as the name suggests cloud mining involves the practice of using cloud computing to mine cryptocurrency. In this scenario you pay third-party companies to complete the task for you. In the end, you don’t require the purchase of or maintenance of special mining equipment and you don’t need to manage a blockchain node.

Cloud mining involves the use of typically lease mining rigs or lease hash power. This is a measure of the power output of mining rigs and is usually measured in terms of Gh/s or Th/s. Cloud mining providers own and operates a facility , or farm that is stocked with mining equipment and provides users with the possibility of purchasing or renting a part from the amount of hash energy generated by it.

Cloud mining companies need invest in the best mining equipment and located its farm in an area that has access to affordable electricity and a cooler temperature. This ensures that cost of operating the farm stay within a reasonable range.

This is a great option for people who aren’t keen on engaging in the technical aspect of cryptocurrency mining. Most of the time, users can monitor their hash rates and cloud mining earnings by using their mobile phones. Certain cloud mining configurations automatically shift created hashpower to the highest-profitable mining coin for a certain time.

Different Types of Cloud Mining Models

Host Mining

Host mining involves the purchasing lease or purchase of equipment at mining farms. In this case you could be required to cover the cost of setting up and upkeep of the equipment. The advantage of this type of model is that it usually reduces the costs of running a business that come with having access to electric power. Furthermore, you’ll have more control over the leased rig(s) and the option to divert your generated mining power to increase your chances of finding a fresh block. Additionally, you are in complete control over the rewards you earn and only have to pay for maintenance and set-up costs towards the cloud mining company.

Lease Hash Power

Contrary hosting mining leasing hash power, leasing is the lease of a percentage of the power generated by mining farms. In this case, you do not have to be charged for the cost of maintenance or setting up. All you have to do is sign up to a program to share a portion of the farm’s profits. When the farm locates an undiscovered block and pays crypto as a reward The profits earned are divided among the users based on the proportion of the hash power they control.

What Are the Benefits and Drawbacks of Cloud Mining?

Cloud mining is a good option for those who wish to reap the benefits of mining without having to meet the hardware and technical requirements that were previously discussed in this guide. Cloud mining could also assist in cutting down on the cost of operating a mining equipment.

But, there are some possible drawbacks be aware of before deciding on cloud mining. One of them is the high number of fraud in the cloud mining industry. Since its inception this sector has turned into an ideal place for scams. Because investors don’t be able to evaluate the mining farms personally It can be difficult to confirm the claims that are made by cloud mining providers.

Some cloud mining companies have pyramid schemes which allow early investors to be paid by depositing money from investors who are new. Being aware that this is not sustainable it is inevitable that the companies will carry out exit frauds. So, it for you is to do your due diligence prior to choosing the cloud mining service you are considering. It is recommended to read reviews, look into the credibility of the company in crypto-related forums. You should also look into the withdrawal limitations and stay clear of promises of incredibly lucrative deals.

Another aspect be aware of is the possibility of profit for the offer. If the cost you pay to lease, purchase or maintain cloud-based rigs doesn’t coincide with the hash capacity that is offered, you may suffer losses. Take a careful look at the mining capital and the potential revenues before going all in by accepting a cloud mining deal.

Beware of cloud computing platforms that offer the complete control over the earnings you earn. It is best to select one that offers a certain degree of independence regarding your cryptocurrency wallet.

Conclusion

Cloud mining is an effective method of earning cryptocurrency income that is passive. But, as we’ve discussed in this article it has particular risks. Therefore, it is essential to conduct extensive study and have solid knowledge of core mining concepts prior to beginning the field.

15 BEST Cloud Mining Sites For Mining Bitcoin, Ethereum and other Cryptocurrencies

loud Mining is the process of cryptocurrency mining that utilizes a remote data center with shared processing power. Cloud mining helps users mine Bitcoins or other cryptocurrencies without the need to manage the hardware. The mining rigs are housed in a facility owned by the mining company. The user needs to register and purchase mining contracts to run the mining process on the cloud.

Following is a handpicked list of Top Cloud mining companies with their popular features and website links. The list contains both open source (free) and commercial (paid) software.

Best Trusted (Legit) Cloud Crypto Mining Sites [Free/Paid]

Name Founding Year Supported Coins Fraud risk Link
ECOS 2017 Bitcoin, Ethereum, Ripple, Bitcoin Cash, Tether, Litecoin. Low Learn More
ChickenFast 2015 Bitcoin, Ethereum and Bitcoin cash Low Learn More
Trustcloudmining 2017 Bitcoin, Ethereum, Zen and more Low Learn More
BeMine 2018 Bitcoin, Ethereum, Zcash. Low Learn More
Shamining 2018 Bitcoin Low Learn More
USDminer 2016 BTC, ETH, USDT, LTC, USDC, XRP, DASH, DOGE Low Learn More

1) ECOS

ECOS is the best cloud mining provider in the industry. It was established in 2017 in the Free Economic Zone. It is the first cloud mining provider that is operating with legal status. ECOS has more than 100 000 users from all over the world. ECOS is more than cloud mining. It is the first cryptocurrency investment platform with all digital asset products and tools in one ecosystem.

ECOS

Features:

  • The minimum price for a mining contract is $50
  • Convenient calculator on the website for choosing a mining contract
  • Daily payments and detailed transaction history
  • Withdrawals from 0.001 BTC
  • ECOS is a full-fledged investment platform. It includes not only cloud mining but also wallet, exchange, investing portfolios, savings.
  • ECOS has a convenient mobile app. It is available in App Store and Google Play
  • Get a free mining contract for 1 month after registration

Key Statistics:

Founded: 2017
Supported Coins: Bitcoin, Ethereum, Ripple, Bitcoin Cash, Tether, Litecoin.
Fraud Risk: Low
Price: Starting From $50


2) ChickenFast

ChickenFast is a specially simplified cloud mining platform that provides exceptional service and cryptocurrency mining to customers without skills or hardware.

ChickenFast

Features:

  • Automatic AI guided selection of most profitable algorithm
  • The most straightforward mining process on the market
  • Unique high-tech design
  • Environmentally friendly mining
  • Customer support is available 24/7

Key Statistics:

Founded: 2015
Supported Coins: Bitcoin, Ethereum, and Bitcoin cash
Fraud Risk: Low
Price: Starting From $250


3) Trustcloudmining

Trustcloudmining is one of the most efficient cloud mining companies in the world.

A proven brand, state-of-the-art equipment, and maximum profit.

Trustcloudmining

Features:

  • Reliable and proven brand.
  • Easy to use platform.
  • You can choose the power of the equipment.
  • Support service 24/7.
  • Company uses solar energy for mining.
  • Maximum profit among other companies.

Pros:

  • Daily payments.
  • Flexible contracts.
  • BTC, ETH, Zcash mining contracts.

Cons:

  • Only 30% of green energy usage

Key Statistics:

Founding Year: 2017
Supported Coins: Bitcoin, Ethereum, Zen and more
Fraud Risk: Low
Price: Starting From $0.01 per 1 GH/s


4) BeMine

BeMine has been providing its services worldwide since 2018. Customers are invited to store their equipment in partnered data-centers, and users can purchase and store mining equipment without the need for personal presence during the purchase, transportation, installation, configuration and maintenance of ASIC-miners.

BeMine

Features:

  • Lowest prices on services in the world (lower than that of China and Mongolia).
  • Minimum purchase: $52 dollars and with the advent of new models of miners this price is gradually reduced
  • The option to buy the miner and cloud contracts
  • The ability over time, to purchase shares of ASIC-miner to the whole and to arrange the delivery of the miner to the door
  • Many partners hotels worldwide

Key Statistics:

Founded: 2018
Supported Coins: Bitcoin, Ethereum, Zcash.
Fraud Risk: Low
Price: 3-days Free Trial + Paid Plans


5) Shamining

Shamining is a cloud mining platform that enables you to mine cryptocurrencies without any hardware and skills.

Shamining

Features:

  • Currently the most promising investment platform
  • It enables you to control your miners from any device.
  • You can calculate your income.
  • Using this platform is very easy
  • Environmentally friendly infrastructure.
  • Mining farms use green energy from wind and solar power plants.
  • Good technical support is offered on a 24/7 basis.
  • Compatible with all computer systems.

Key Statistics:

Founded: 2018
Supported Coins: Bitcoin
Fraud Risk: Low
Price: Starting From $0.0120 per 1 GH/S


6) USDminer

USDminer is an innovative platform for mining, storing and multiplying your investments.whose team is working on making money from the volatility of cryptocurrencies and offer great returns to clients.This cloud mining service allows you to select the amount of withdrawal and receive it.

Features:

  • New users get $10 bonus for signing up
  • Maximum profit among other companies.
  • Provides 24/7 live support.
  • You can withdraw your funds on a daily basis and detailed transaction history.
  • Helps you to trade currency without any maintenance fee.
  • It offers a moneymaker mode that helps you to quickly start mining without learning new stuff.

Key Statistics:

Founded: 2016
Supported Coins: BTC, ETH, USDT, LTC, USDC, XRP, DASH, DOGE
Fraud Risk: Low
Price: Starting From $10


7) CCG Mining

CCG Mining is a cloud mining application that enables you to trade a wide range of digital currencies like Bitcoin, Eterium, Zcash, and more. This software helps you to achieve the highest level of hash rate to boost your income.

CCG Mining

Features:

  • It enables you to create your own mining rig.
  • This cloud application keeps your digital money secure using SSL.
  • Helps you to trade currency without any maintenance fee.
  • It does not have any purchase limit.
  • Friendly customer support via Skype and email.

Key Statistics:

Founded: 2016
Supported Coins: Bitcoin, Ethereum, Monero, Zcash, Litecoin, BCH
Fraud Risk: Low


8) Freemining

Freemining is a Bitcoin mining platform that is accessible for everyone. This cloud mining service allows you to select the amount of withdrawal and receive it instantly.

Freemining

Features:

  • This is one of the best mining tool starts immediately after registration.
  • Offers instant withdrawal facility.
  • No hidden fees. Every single transaction is visible to you.
  • You can earn more by playing games.

Key Statistics:

Founded: 2014.
Supported Coins: Bitcoin, Litecoin, Dogecoin, BCH, XMR & TRX.
Fraud Risk: Low
Link: https://www.freemining.club/


9) Genesis

Genesis Mining is a tool that offers cryptocurrency mining functionality. This application provides a variety of mining-related solutions. It also offers an effortless way to mine digital currencies. To use this Cloud mining provider, you do not need any prior experience in mining or trading in cryptocurrencies.

Genesis

Features:

  • It is one of the best cloud mining company offers the fastest Bitcoin mining hardware at data centers.
  • You can easily mine any cryptocurrency mentioned in the catalog.
  • It provides periodic mining output to your wallet.
  • This Altcoins mining software allows you to mine multiple cryptocurrencies, including Ethereum and Bitcoin.
  • Offers a user-friendly interface.

Key Statistics:

Founded: 2013
Supported Coins: Bitcoin, Dash, Ethereum, Zcash, Litecoin, Monero.
Fraud Risk: Low
Link: https://www.genesis-mining.com/


10) IQ Mining

IQ Mining is a Bitcoin mining software that supports various payment methods, including credit cards, Yandex money, etc. Its profit calculations are based on the most efficient mining hardware, with minimal contract maintenance costs.

IQ Mining

Features:

  • Option for auto reinvest.
  • Offers flexible leverage.
  • This application automatically distributes funds using smart contracts.
  • IQ mining offers Bitcoin payments daily that depending on your purchased MH/s power.
  • You can withdraw your funds on a daily basis.
  • It enables you to purchase your contact with ease.
  • Provides 24/7 live support.

Key Statistics:

Founded: 2016
Supported Coins: Bitcoin, BCH, LTC, ETH, XRP, XMR, DASH, etc.
Fraud Risk: Low Risk


11) Hashnest

Hashnest is a cloud mining website that provides cheap cloud mining services. It is extremely advantageous for users who want to mine long-term.

Hashnest

Features:

  • Allows uses to buy or sell hash rates freely on HashNest market from 1THS to 100 PHS.
  • You can host multiple brands of miners, like AntiMiner S17, S15, Z11, WhatsMiner M21S, M20S, etc.
  • The cloud mining contracts in HashNest can last a lifetime, as long as the market persists.

Key Statistics:

Founded: 2013
Supported Coins: Bitcoin, Litecoin, Zcash, Dash, and Altcoin.
Fraud Risk: Low
Link: https://www.hashnest.com/


12) Cryptoplace

Cryptoplace is a cloud mining platform that allows you to mine the presented cryptocurrencies, such as Bitcoin, Litecoin, Dogecoin, etc. This Bitcoin cloud mining software offers free as well as paid cloud mining plans to mine Bitcoin.

Cryptoplace

Features:

  • Offers bonus of 2500 Gh/s after registration.
  • It helps you to mine Bitcoin, Litecoin, Dogecoin, BCH, XMR & TRX.
  • It offers a random bonus depending on the level.

Key Statistics:

Founded: 2017
Supported Coins: Bitcoin, Litecoin, Dogecoin & Altcoins.
Fraud Risk: Medium
Link: https://cryptoplace.cloud/


13) Cryptouniverse

CryptoUniverse.io is a cloud mining provider that enables you to mine Bitcoin easily. This trusted cloud mining site allows adding more people to Blockchain and cryptocurrency mining.

Cryptouniverse

Features:

  • You will get daily rewards in your account.
  • Their mining equipment’s are maintained and updated 24/7.
  • CryptoUniverse provides good cloud mining services to mine Bitcoin and Litecoin.
  • Users can earn BTC by sharing the mining equipment.

Key Statistics:

Founded: 2017
Supported Coins: Bitcoin, Litecoin.
Fraud risk: Low
Link: https://cryptouniverse.io/en/cloudmining


14) Awesomeminer

AwesomeMiner is a cloud mining service that offers a comprehensive dashboard to monitor the status and temperature of all your ASIC and FPGA devices from one location. This cloud mining site monitors GPU properties, including clock speed, fan speed, temperature, and hashing power.

Awesomeminer

Features:

  • It helps you to maximize profit and minimize downtime.
  • You can start this one of the best mining contract in less time.
  • Provides support for more than 50 mining software.
  • You can set up mining pools with just one mouse click.
  • It can work with all ASIC devices.

Key Statistics:

Founded: 2014
Supported Coins: Bitcoin, Litecoin, Ethereum, etc.
Fraud Risk: Low


15) Hashing24

Hashing24 is one of the best cloud mining providers for individuals to easily access Bitcoin mining technology. This Bitcoin cloud mining software is easy to use, and it provides 24/7 customer support.

Hashing24

Features:

  • It provides a convenient calculator on the website for choosing the best mining contract.
  • It offers daily payments.
  • It provides weekly promotions and auctions for registered users.
  • Get a free mining contract for 1 month after registration.

Key Statistics:

Founded: 2015
Supported Coins: ZCash, Dash, Ethereum (ETH), Litecoin (LTC), Bitcoin (BTC), Altcoins.
Fraud Risk: Low


16) Easyminer

EasyMiner is an open-source cloud mining platform that provides a GUI-based monitoring system. It is one of the best cloud mining services that consume less CPU and GPU resources. This cloud mining platform is highly optimized for x86, x86-64 machines and offers the best hashing power.

Easyminer

Features:

  • This crypto miner has a chat system that helps beginner miners to connect with experienced users.
  • Supports crypto coins like Litecoin and Bitcoin.
  • It offers a moneymaker mode that helps you to quickly start mining without learning new stuff.
  • It provides ASIC mining for Bitcoins.
  • This free Bitcoin mining software enables you to choose your own pool with a custom hash algorithm.

Key Statistics:

Founded: 2018
Supported Coins: Litecoin, Bitcoin, and Altcoins.
Fraud Risk: Low
Link: https://www.easyminer.net/

FAQ:

❓ What is Cloud Mining? How does it work?

Cloud mining is the process of cryptocurrency mining that utilizes a remote data center with shared processing power. This kind of mining helps users mine Bitcoins or other cryptocurrencies without managing the hardware. The mining rigs are housed in a facility owned by the mining company. The customer needs to register for mining contracts.

Cloud mining is a process in which the latest Bitcoins are entered into circulation. With the help of cloud mining, you can earn money without investing. However, you need an Application-Specific Integrated Circuit (ASIC) or GPU to set up a mining rig.

In a cloud mining network, a miner’s goal is to add individual blocks to the Blockchain by solving complex mathematical problems. It demands a large amount of computational and electrical power. While many miners compete to add each block, the miner who solves the problem will add the block along with its approved transactions to the Blockchain. This miner receives the reward in the account.

⚡ Which are the Best Cloud Mining websites?

Following are some of the best Bitcoin Mining Pools/Cloud Mining websites:

  • ECOS
  • ChickenFast
  • Trustcloudmining
  • BeMine
  • Shamining
  • USDminer
  • CCG Mining

🏅 What are the advantages of Cloud Mining?

Here are some pros of Cloud Mining:

  • No technical knowledge for mining is required.
  • You do not need to purchase any hardware equipment.
  • You do not have to bear any operating costs.
  • You can start right away.

🚀 What are the disadvantages of Cloud Mining?

Here are the drawbacks/ cons of Cloud Mining:

  • Some cloud mining services might commit fraud.
  • No control and flexibility in cloud mining.

🔒 Is Cloud Mining safe?

You cannot guarantee when you do not have control over your mining gear. Therefore, it is advisable to invest only in trusted mining sites.

👉 Is Cloud Mining a scam or legit?

Yes, it is legit and not a scam. It depends on the company you choose to invest in and abiding by your country’s law. Therefore, you should be careful while selecting a cloud mining service.

💲 How do you make money by Mining Bitcoin?

You can earn money mining Bitcoin by finishing blocks of verified transactions added to the Blockchain. In exchange for mining, you will get a small portion of Bitcoin as a reward. Nowadays, overall hash rates are very high, so it is not easy to profit from mining Bitcoin for an individual.

❗ Which Countries Mine the most Bitcoins?

Here are countries that mine the most Bitcoins:

  • China: This country mines approximately 60% of all new Bitcoins.
  • Georgia: It mines about 15% of all Bitcoins.
  • US: This country mines about 3% of all Bitcoins.
  • Other countries: These countries mine the rest of Bitcoins.

💥 Why are Miners Important?

Bitcoin mining is a process of digitally adding transaction records to the Blockchain. Crypto mining is a record-keeping process that is executed through enormous computing power.

Each Bitcoin miner contributes to a decentralized P2P (Peer-to-Peer) network to ensure the payment network remains secure and trustworthy.

The Blockchain network is a decentralized P2P network that contains a shared ledger. The network has no central authority, so the transactions are recorded, processed, and validated in the miner’s network. The data shared over in the network is completely transparent, but the personal data is always anonymous.

Here, the miners require validating blocks of transactions to access their blocked rewards. New crypto is introduced in the network whenever a new transaction block is added to the system.

So, not only do they work to secure the network but also to verify the transactions. For the Blockchain network to operate properly, miners need to work continuously on the Blockchain network.

🏅 How to convert Bitcoin to Cash?

You can convert your Bitcoins into cash by using the below methods:

  • Using cryptocurrency exchanges
  • Sell Bitcoins using LocalBitcoins.
  • Use Bitcoin ATMs
  • Spend your Bitcoins using Bitcoin Debit cards

⚡ How to mine Bitcoin at home?

Yes, you can technically mine Bitcoin at home. Considering the complexity of mining Bitcoin, you must invest in the right type of hardware. If you are mining Bitcoin at home, you need to consider hardware electricity consumption also. The success rate will be very less. Because nowadays, cryptocurrency is so popular that even a kindergarten kid is mining Bitcoins by using home electricity. You need dedicated mining hardware to start Bitcoin mining and see any reasonable success.

❓ What is Hash Rate?

Hash Rate is a unit that measures the processing power of the Bitcoin network. For example, when your network reaches a hash rate of 5 Th/s, it could make 5 trillion calculations per second.

What is Cryptocurrency Cloud Mining?

With the increasing number of users of cryptocurrencies such as Bitcoin businesses must think about accepting cryptocurrency payments from their customers. Here’s how to do it.

In the last few years, cryptocurrency has exploded on the scene, and currencies like Bitcoin, Ethereum, Polkadot, and Litecoin all increased in size. Bitcoin’s market capitalization has, for instance, has surpassed $1 trillion in February 2021.

It is not a surprise that a lot of the biggest companies in the world have started accepting cryptocurrency to pay for their products and services. Businesses as diverse as AT&T and The Dallas Mavericks, Microsoft, Overstock, Tesla, and Twitch all accept Bitcoin as well as other digital currencies starting in 2021.

Smaller businesses also can benefit from the crypto trend and effortlessly accept digital payments through internet-based payment processors. They typically charge one percent or less transaction cost, which is lower than the fees charged by the majority of credit cards.

These are six companies that will assist you in accepting Bitcoin and other cryptocurrency payments.

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BitPay

One of the biggest companies worldwide that allow companies to accept cryptocurrency as a payment option is located in Atlanta, BitPay, which is based in Atlanta. It offers a variety of tools to make accepting cryptocurrency payments easy, such as payment buttons, hosted checkout for invoicing, Quickbooks along Shopify integrations. Payments can be accepted through online channels, via mail, or in person. Another unique feature of BitPay is it shields businesses from the volatility of crypto prices. BitPay only charges an 1% transaction fee on nearly every transaction and permits customers to pay their bills in local currency.

CoinBase Commerce

Silicon Valley-based CoinBase is most likely to be considered to be one of the most popular marketplaces for selling and buying Bitcoins and other cryptocurrencies. It also offers a Commerce service that makes it simpler for companies to accept digital payment. CoinBase Commerce has the necessary tools that any business that wishes to accept crypto payments must-have for hosting checkout pages, which include hosted checkout pages as well as payment buttons, invoicing and e-commerce integrations like Shopify or WooCommerce. However, in contrast to similar offerings, CoinBase Commerce encourages companies to “be your own bank,” and the platform grants the company complete control over its assets.

PayPal is one of the most popular worldwide online payments firms has recently announced that users can now pay merchants within the PayPal network using cryptocurrency.

CoinPayments

One of the most long-running solutions for crypto payments includes CoinPayments which has been helping businesses around the world since. CoinPayments is a payment processor for both in-person transactions as well as online platforms. It is compatible with a variety of cryptocurrencies. The plugins offered by the company are compatible with virtually all major online stores that including Magento, Shopify, OpenCart, and WooCommerce. Additionally, with a processing charge of only 0.5 percent, it provides a great value for the digital dollar.

GoCoin

Another processor for cryptocurrency which has been helping businesses manage payments using crypto for years includes GoCoin It was created in 2013. The company can assist merchants to use Bitcoin, Bitcoin Cash, EOS, Ethereum, Dash, and Litecoin as payment options. GoCoin has a 1% transaction processing fee and is compatible with the majority of online shopping platforms, such as Magento, OpenCart, OSCommerce, Prestashop, Shopify, UberCart, WooCommerce, and ZenCart.

PayPal

PayPal is one of the most popular worldwide online payments firms, recently announced that users will be able to pay for merchants on the PayPal network using cryptocurrency. Over 29 million online merchants make use of PayPal and this latest move will make it easier to accept cryptocurrency payment. Customers who have PayPal wallets can exchange Bitcoin, Bitcoin Cash, Ether, and Litecoin to fiat currencies such as dollars or euros when making purchases through a reputable PayPal merchant. As an online merchant, you will not take crypto on the spot, but it can allow buyers to buy your goods and services with Bitcoin and other currencies that are digital.

TripleA

One of the most recent worldwide crypto processors is TripleA established in the year 2018 in Singapore by serial businessman Eric Barbier. TripleA provides a developer-focused approach to accept cryptocurrency payments with lots of flexibility, such as accepting payments for e-commerce and point-of-sale as well as invoicing and remittance. On the eCommerce front, TripleA integrates with Shopify, WooCommerce, and OpenCart, and provides a straightforward merchant dashboard to keep track of payments and orders and reconcile accounts, as well as perform refunds in one location.

Cloud Mining: What Is It? How Does It Work?

What Is Cloud Mining?

Cloud mining allows you to mine the value of a cryptocurrency like bitcoin by renting cloud computing power, without the need to install or operate the hardware or software.

Cloud mining firms permit users to create an account and then participate remotely in cryptocurrency mining at a cost that is minimal, making mining accessible to more people around the world. Because this type of mining takes place in the cloud computing, it eliminates problems like maintenance of equipment and directly incurred energy costs.

Cloud miners are participants in mining pools, in which the users buy an quantity of “hash power.” Each participant gets a proportional portion of the profits in proportion to the hashing capacity they rent.

KEY TAKEAWAYS

  • Cloud mining is the process of mining cryptocurrency by leasing or buying mining equipment through a third-party cloud service and is responsible for the upkeep of the equipment.
  • Cloud mining models that are popular include hosted mining as well as lease hash power.
  • Cloud mining’s advantages is that they lower costs for mining, and permit investors of all ages with limited technical expertise to mine cryptocurrency.
  • Cloud mining’s disadvantages are that it centralizes mining and leaves the farms in charge, and profits are subject to the demand.

Understanding Cloud Mining

Cloud mining makes use of cloud computing to achieve the goal of creating blockchain-based cryptocurrency.

Cloud computing, as a whole is one of the most rapidly growing technology trends. computing services like processing servers, database services software, as well as storage of files are accessible via the cloud, via the Internet. These companies cost on a basis of usage similar to how we pay for electric or water usage.

On the other hand, mining forms the core of cryptocurrency models, including bitcoin. It is the method by the transactions are vetted and are added to the general ledger called the blockchain. It is also the way by which new coins are created.

Combining the two allows mining to people in distant areas with any technical expertise and no hardware infrastructure.

Cloud Mining Models

Hosted mining can be described as the most favored type that cloud mining is. In this form the user acquires or leases mining equipment that is located at a miner’s location. The miner is accountable to maintain the equipment and making sure that it is operating as it should.

By using this model, the customers can control their currency. In addition, the economies of scale in mining farms make sure that the cost of mining, including storage and electricity, become feasible. However, there is a significant initial cost to this kind of mining.

A lease-based hashpower model is yet another option that is utilized to power cloud mining. This model the hash power, or the computing power that is related to a cryptocurrency is contracted from mining farms.

Customers receive a portion of the farm’s earnings from mining cryptocurrency. According to some reports, leasing hash power is a well-known option for mining cryptocurrency called altcoins (i.e. cryptocurrency that are not bitcoin).

It is necessary for a person to sign up for accounts with the cloud mining business through its website, and then select specific things such as the duration of the contract and hashing capacity.

Although there are many advantages for cloud mining, like lower hardware investment and ongoing costs however, it also comes with numerous negatives. For instance, frauds within the industry have risen rapidly due to the growing popularity of cryptocurrency.

Also, there is the risk of declining profits. Altcoins particularly are more vulnerable to demand and a decline in their hash power may cause a decrease in profit for mining companies. The cloud mining model can support centralization of cryptocurrency and, in the absence of decentralization, a distributed ecosystem.

How Cryptocurrency Mining Works

Mining for cryptocurrency like bitcoin, whether through either the cloud, or local doesn’t actually require any mining. Although this process does create new cryptocurrency tokens that are distributed to miners the mining process has an even more important purpose to safeguard an open ledger, such as the blockchain.

Bitcoin mining is conducted by computers with high-powered processors that can solve complicated mathematical problems that require computation. the problems are so intricate that they are impossible to solve manually, and they are difficult enough to strain even powerful computers.

When cryptocurrency miners create a new blocks of transaction data to blockchains, a portion of their task is to confirm that those transactions are correct. Particularly bitcoin miners check that bitcoin isn’t duplicated, which is a peculiar feature of digital currencies referred to as ” double spend.”

When it comes to printed currency there is always a counterfeiting issue. In general, once you’ve spent $20 at the shop, that cash is on the counter of the cashier. However, with digital currency it’s a completely different scenario.

Miners make use of their computing capabilities to solve cryptographic challenges that stop double spending in a distributed manner.

How To Accept Bitcoin and Cryptocurrency Payments For Your Business

With the number of people who use cryptocurrencies such as Bitcoin and Ethereum, businesses ought to think about accepting payments made via crypto from customers. Here’s how to accomplish this.

Over the past several years, cryptocurrency has exploded on the scene, and currencies like Bitcoin, Ethereum, Polkadot, and Litecoin are all growing significantly. Bitcoin’s market capitalization is an example. It exceeded $1 trillion in February 2021.

Therefore, it is not a surprise that a lot of the biggest companies in the world have started accepting cryptocurrency as a means of payment for services and goods. Businesses as diverse as AT&T and Twitch, the Dallas Mavericks, Microsoft, Overstock, Tesla, and Twitch all accept Bitcoin as well as other digital currencies by 2021.

Small-scale businesses can also benefit from the crypto trend and can take payments via digital channels using online processors for payments. They typically charge a 1percent or less transaction cost, that’s less than fees charged by the majority of credit cards.

These are six companies that can assist you in accepting Bitcoin as well as other cryptocurrency payments.

BitPay

One of the biggest companies worldwide that allow companies to accept cryptocurrency as a payment option is located in Atlanta, BitPay, which is based in Atlanta. The company provides a range of tools that make accepting crypto payment simple, including hosted checkout and payment buttons, as well as invoicing, Quickbooks as well as Shopify integrations. Payments can be accepted through online channels, via email, or in person. Another great feature provided by BitPay is it safeguards companies from price volatility in crypto. BitPay charges only one cent transaction fee for almost all transactions, and also allows customers to settle their transactions in local currency.

CoinBase Commerce

Silicon Valley-based CoinBase is most likely to be recognized as one of the most popular marketplaces to buy and sell Bitcoin and another cryptocurrency. It also has a commercial product that makes it simpler for companies to accept digital payment. CoinBase Commerce has the necessary tools that every business looking to accept crypto payments must-have for hosting checkout pages, which include hosted checkout pages as well as payment buttons, invoices, and integrations with e-commerce like Shopify as well as WooCommerce. But, unlike other solutions, CoinBase Commerce encourages companies to “be your own bank,” and the platform offers the business complete control over assets.

PayPal is one of the biggest worldwide online payment providers has recently announced that users can now pay merchants on the PayPal network using cryptocurrencies.

CoinPayments

One of the oldest services that support cryptocurrency transactions can be found in CoinPayments that has been helping businesses around the world since 2013. CoinPayments is a payment processor, both for in-person transactions as well as online platforms. It is compatible with a variety of cryptocurrencies. The plugins offered by the company are compatible with almost all major online stores such as Magento, Shopify, OpenCart, and WooCommerce. With a processing cost of only 0.5 percent, it gives a good value for the digital bucks.

GoCoin

Another processor for cryptocurrency that has helped businesses manage payments using crypto for years includes GoCoin It was created in 2013. The company can assist merchants to use Bitcoin, Bitcoin Cash, EOS, Ethereum, Dash, and Litecoin payments. GoCoin has a 1percent transaction processing fee and is compatible with all eCommerce services, including Magento, OpenCart, OSCommerce, Prestashop, Shopify, UberCart, WooCommerce, and ZenCart.

PayPal

PayPal is one of the most popular global online payment companies, recently announced that users will be able to pay merchants on the PayPal network using cryptocurrencies. There are more than 29 million merchants making use of PayPal which is why this new move will make it easier to accept cryptocurrency payment. Customers who have PayPal wallets can change Bitcoin, Bitcoin Cash, Ether, and Litecoin to fiat currencies such as dollars and euros when making purchases through a reputable PayPal merchant. As an online merchant, you will not accept cryptocurrency directly, however it can allow for customers to purchase your goods and services with Bitcoin as well as other cryptocurrencies.

TripleA

One of the latest international processing companies for cryptocurrency is TripleA established in the year 2018 in Singapore by serial businessman Eric Barbier. TripleA is a developer-focused solution to accept cryptocurrency payments with plenty of flexibility, such as accepting payment for e-commerce, point of sale as well as invoicing, and remittance. On the eCommerce front, TripleA integrates with Shopify, WooCommerce, and OpenCart, and offers a simple merchant dashboard to keep track of payments and orders as well as reconcile accounts and make refunds in one location.

Bitcoin Merchant Account: What You Need To Know

Buyers want to purchase bitcoins using credit cards and debit cards. Actually, those seeking all sorts of digital currency want to buy cryptocurrency using debit and credit cards.

Various crypto and fintech platforms secure offers bitcoin merchant services and merchant accounts for dealers, cryptocurrency exchanges, and other companies which sell virtual currencies. Selling digital currency is simpler to do than it has ever been before as you provide an easy way to purchase cryptocurrency using credit cards and debit cards.

What Is Bitcoin Merchant Account?

When we talk about” bitcoin” on this page, we also include other cryptocurrency options that are built on digital coins or tokens. Bitcoin is now facing significant competition from other cryptocurrencies that were created using blockchain technology.

Bitcoin has become a bit of a generic term because of its inception as the very first digital currency created on a decentralized, peer-to-peer system. Bitcoin is still the most popular in terms of market capitalization and popularity. But, competition among the various cryptocurrency platforms is fierce.

A merchant account with bitcoin gives users of bitcoin exchanges and other businesses that deal with crypto the option of buying cryptocurrency using credit cards, or purchasing bitcoins using debit cards.

Bitcoin Merchant Services Get You More Customers

Offering your customers a simple method to purchase bitcoins using credit cards in a matter of minutes is essential in boosting sales. Merchant accounts that use Bitcoin or cryptocurrency make it simpler to make it easier for your customers to purchase from you.

Let’s admit it. Although cryptocurrency is gaining popularity, no matter how popular they are being, a lot of consumers prefer online shopping which includes buying bitcoins using credit and debit cards.

Check out your competition. There are many that provide customers with the option to purchase cryptocurrency with debit or credit cards. Don’t be afraid of losing sales to your rival just because you don’t provide customers with the option to purchase bitcoins using debit or credit cards.

Bitcoin Merchant Account Acquiring Banks

Merchant services for cryptocurrency are viewed as high-risk by banks that are acquiring them mostly due to the lack of understanding of the business and the price volatility in the bitcoin market.

Since the market is relatively new, many banks that acquire aren’t aware of how to evaluate and assess risks associated with bitcoin-based merchant accounts. Instead of maximizing the opportunities that cryptocurrency merchant services offer certain banks refuse to take on crypto merchant accounts.

However, there are many outstanding bitcoin merchant services at competitive prices.

The best way to achieve success is to partner with banks who are open to the industry and know how to handle the dangers. Benefit from our connections with acquirer banks who are keen to accept cryptocurrency payments and we’re happy to open cryptocurrency merchant accounts for you.

Applying for Your Cryptocurrency Merchant Account

Of course, having a co-signer of the account with a good credit score is essential. If your credit score isn’t satisfactory, you should include a co-signer in the application form with excellent personal credit.

The exchanges that sell cryptocurrency sell on secured websites. Be sure to ensure that all pages on your website load fast and are displayed correctly. Privacy, refunds, and other pertinent policies should be clearly displayed.

It is important to make it easy to locate customer service emails or phone numbers. Underwriters frequently “cold call” or email customer service to assess the quality for your service. If the calls are routed to an automated voice message, leave an email stating who you are as a business and the time when customers can anticipate receiving a response. If autoresponders on emails are employed ensure the receipt of the email and information that the author when a reply is expected. Make sure to respond in the manner promised.

The websites that use cryptocurrency require usernames and passwords for signing in. Thus, you should provide a demo or test login for the underwriting team so they can review what customers see.

Processing statements are scrutinized to verify the processing volume and to determine the chargeback ratio. If the ratio of chargebacks is rising, be sure to include an explanation of the reasons for this and what steps are being taken to bring the chargeback ratios to a manageable level.

The bank statements are scrutinized to determine if there are enough funds in the bank account to run the company. Documents for business are scrutinized. The remaining supporting documents are inspected.

When the account is accepted the merchant ID number (MID) will be assigned. Your login credentials for the bitcoin payment gateway will be securely sent to you. Then you can start taking payments as soon as you are able.

Bitcoin Merchant Services Special Requirements

The most important factor to consider when banks are considering applications for merchant accounts for cryptocurrency is to prevent money laundering. So, when you apply for a bank account, make sure that in your dossier, include all the details regarding your anti-money laundering and compliance policy. The majority of cryptocurrency sellers have this information available.

Knowing who your customer is particularly important for bitcoin-based companies. The standard due diligence documentation required from clients prior to the purchase of cryptocurrency must be part of an application’s application pack.

Other details to include are the steps you can take to stop fraudulent transactions and the way your computer’s blockchain monitoring security system operates.

Rates for Bitcoin Merchant Account

Final rates for processing cryptocurrency merchant services depend on the strengths of the application. Our aim is to help you save money when it comes to payment processing while offering top-of-the-line technology and services.

Each transaction on a bitcoin-based merchant is a bit distinct. However, there are some fees that are standard across all accounts. They include discount rates, plus an additional fee per transaction and established rates for chargebacks, refunds along with monthly bills.

Reserves are a common feature of merchant accounts that use cryptocurrency. But, the terms for reserves can be agreed upon to ensure that reserves don’t negatively impact your business’s activities.

What is Cryptocurrency?

Bitcoin along with other cryptocurrencies are like cash transactions. Transactions using crypto currencies are not identifiable. However, by purchasing bitcoins online, the bitcoin exchange knows who the purchasers are and identification is required to get the bitcoins.

The cryptocurrency coins are basically computer files that are saved in digital wallets, which are accessible on smartphones or computers. Users can transfer coins to one another. They can also be used to buy items with merchants that accept cryptocurrency.

Every cryptocurrency transaction is documented on a publicly accessible list known as the blockchain. This means that virtual currency is not able to be duplicated. The transactions cannot be reversed. Transactions made with cryptocurrency are similar to cash transactions in the sense that sales are usually final.

There are over 1600 virtual currencies that exist all over the world, but only fewer than 20 are actually being used by the public. In addition, more cryptocurrency-based coins are coming up constantly.