got $400, can't buy a miner, is cloud mining worth it?
Considering Cloud Mining with a $400 Budget
20 replies 429 views
most cloud mining sites are scams, just saying. better to avoid them and not lose your cash.
its_walletMember
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#3Sep 20, 2021, 07:14 PM
yeah, most cloud mining looks like a ponzi scheme. I’d only trust Nicehash but be careful and research the risks first.
tony_4tl4sMember
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#4Sep 22, 2021, 04:14 PM
Bitdeer is from Bitmain, seems okay, but their plans are often way over budget. Honestly, you'd be better off just buying Bitcoin and holding rather than risking it.
ryansatoshiMember
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#5Sep 22, 2021, 08:38 PM
don’t even think about mining with that much cash, just buy BTC.
cloud mining is a mess, you’re basically betting that BTC and difficulty won’t screw you over.
yeah, 99% of cloud mining is a joke. stick to trading or something. DeFi is way better.
tried CEX.IO years ago, fees got crazy and profits disappeared. just hodl your crypto instead.
silentsigmaMember
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#9Sep 23, 2021, 04:11 PM
check out DeFi projects! I keep seeing you mention that $400.
ledger_2019Full Member
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#10Sep 23, 2021, 06:53 PM
just buy Bitcoin and wait for it to double, then you could think about a used miner.
buying Bitcoin is obviously the easiest and safest option. but keep in mind that mining gets harder over time.
om3g4_2019Hero Member
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#12Sep 25, 2021, 12:11 AM
$400? just buy BTC, it’s way smarter.
ever wondered if cloud mining is even worth it? like, if prices drop, who’s gonna mine at a loss?
wallet_2018Member
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#14Sep 25, 2021, 06:26 AM
so, are there any legit cloud mining sites? or should we just assume all are scams?
cloud mining is risky. if they go under, you’re left with nothing. better to own a miner you can sell later.
can’t name any legit sites, it's been ages since I saw one that wasn't a scam. but some could be okay.
tony_4tl4sMember
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#17Sep 26, 2021, 04:32 PM
you could still profit in a bear market if the other miners drop out before you start losing. big gamble though.
totally skeptical about cloud mining. it always sounds shady to me. if I were to mine again, I’d want my own hardware.
cipher_sageMember
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#19Sep 26, 2021, 10:24 PM
is there even one cloud mining site that’s lasted over three years? highly doubtful.
Bitdeer has been around for a bit, but honestly it’s not a great investment historically.