Bitcoin has been on a bull run for a long time, backed by a large inflow of so-called “old money.”
Both retail and institutional investors are seeking exposure to this new class of asset due to its incremental yet determined expansion into a wider clientele.
The overwhelming attention from the traditional world is a blessing, but also an added obstacle for retail investors to purchase a Bitcoin – more than $62,000 each, it is very safe to call a high entry barrier. With the fluctuations still vibrant, buyers continue to suffer the risks of bidding too high or missing out on the price dents.
Henceforth, Bitcoin mining has gathered its proteges for its hard-to-miss advantages: 1) to get Bitcoin at a lower cost over a longer period; 2) stable production of Bitcoin help releases the pressure of trading, making it easier for investors to bag a big fortune. Cloud mining, an increasing way of participating in Bitcoin mining, is gaining more and more retail clients due to its platform advantages over solo mining, bringing even more stable Bitcoin output
Despite the upsides, cloud mining has its dark time when many foul players disturbed the market, which calls for a review for retail investors to hand-pick ones for themselves!
1. Bitdeer
Born in late 2018, with its inexplicit ties with Bitmain, Bitdeer swept the market with its large-sum cloud mining products linked to then latest mining machines.
The products of Bitdeer are more or less standard: clients can make an order of hashrate based on the machine model, their desired duration, and amount of investment. For example, the client can choose to buy the hashrate of Antminer S19, then there are 360 days and 1080 days of two plan for the client to choose, and there are four types of amount: 50 Th/s, 100 Th/s, 200 Th/s, and 500 Th/s. Three parameters in total to finalize an order.
After the purchase, clients can check on their active hashrate on their dashboards, which details the daily output of Bitcoin mining, in addition to the order bills.
In all, Bitdeer is a standard cloud mining platform which provides clients with a variety of cloud mining plans, correlated to Bitmain’s new machine models of S19. The good thing about Bitdeer is its sole function as a mining investment, but its limitation also lies here – clients can do nothing other than investing in mining.
In term of customer services, Bitdeer drafts a long list of frequently asked questions, but it fails to offer real-time CS, which might come as handy when new investors need some professional insights. Also, Bitdeer can strive to do a better job at offering some on-site profit calculation for new clients to develop an idea about the ROIs. But if clients are no stranger to this type of investment, Bitdeer is by no means a bad choice.
2. Metapsis
If there is only one thing to differentiate Metapsis from Bitdeer, that would be the 1:1 ratio pegged to real-world running machines, as promised by Metapsis.
Mining investors can buy the mining machine in its entirety on the platform, which delivers the ownership of the physical machine to the client. This is not a small change to the cloud mining market – users can mine Bitcoin until the expiry date of the machine, which can serve 2-4 years, even in the extreme case of the Antminer S9 generation, up to 5 fives or more.
Since clients actually “own” the mining machines, and hence, the risks of Ponzi scheme or Black Box are reduced.
Due to this signature, Metapsis boasts its feature as transparency, shown in its product functions as income calculation, detailed daily bills, and so on.
Before the purchase, clients can use the income calculation to estimate their ROIs, a must-have for new investors. After placing an order, clients can access their mining machine asset on their mobile phones.
With the due services fees deducted, the output per Th/s of a Metapsis product is in alignment with the network-wide output, which can be verified in a third-party statistics website. Also, it has an innate wallet where you can do the conversion between coins, offering clients a good way out.
On top of the features of transparency and solidity, Metapsis provides an instant Customer Service response, which can be found in the “Me – Help” session.
All in all, Metapsis is newbie-friendly and also has its features to attract veteran mining investors.
3. Genesis Mining
Genesis Mining is by all means one of the longest-surviving cloud mining platform. Maybe its seniority gives it credits, but in the meantime, limits the innovation.
The product is even more simple than Bitdeer. Clients only need to choose between two types of cloud mining plans: one to pay the maintenance fee all in once, and another to pay the fee daily. Then the clients just type in the amount of hashrate they wish to purchase, the deal is done.
No machine model to choose, no electricity fee to disclose, and it seems a highly economized object of investment, which also gives leeway to Black Box, one may argue.
Other than the inarticulate product design, one killing spot is the constant lack in stock, especially for Bitcoin mining. The only available mining product is ETH mining, and clients with this type of needs can take a good look into it.
At last, a huge plus for Genesis Mining may be its soon-to-support payment via credit cards, significantly lowering the barriers for future participants.
