Cloud mining or cloud hashing is a service, which allows users to buy cryptocurrency mining power of the hardware placed in remote data centers, without any offline hassle, such as electricity, hosting issues, or installation and upkeep trouble.
The currently yield of the cloud mining contracts is 0.2%-0.5% per day.
For investments in cloud mining you must only:
- Register on site of cloud mining provider.
- Deposit funds.
- Buy cloud mining contracts.
Here is what services I are currently using:
- HashFlare (promo code: 9DF4C60D-R) is more recent service apparently operated by a bit controversial Estonian Bitcoin ASIC manufacturer HashCoins Trade OU.
HashCoins officially launched HashFlare on April 23, 2015. HashFlare offers cloud mining for both Bitcoin and altcoins. For SHA-256 Bitcoin mining, they use a non-stock version of their Apollo miner. For Scrypt mining, HashFlare utilizes their Ares miner. All hardware used in their 2 Megawatt data center is provided by parent company HashCoins. HashCoins is based in Tallinn, Estonia, and was founded in 2013 by Sergei Potapenko.
You should be careful though as this may lead to more scams popping up, so do not trust new services without any history even if they seem very promising.
You can buy and sell bitcoins with LocalBitcoins.