Bitcoin mining farm: 3 new cloud mining projects in 2022
The last few years have seen a new wave of cloud mining projects with unique value propositions and compelling returns. They widely vary in features, functionalities, and mechanics; it is hard to choose the best. We have done the work for you.In this article, we take a detailed look at the three best cloud mining projects of 2022 and how you can use them to make a side income. But before that, let’s go back to the basics.
What is cloud mining?
Cloud mining is a type of cryptocurrency mining using rented cloud computing power. It doesn’t require cost-intensive mining hardware and software to get started. Instead, it allows you to earn income from leased mining hardware or hash power located in a miner's facility.
Since cloud mining is offered at a relatively lower cost when compared to large-scale crypto mining, it has a lower entry barrier. Cloud mining decentralises crypto mining in its real sense, by opening it up to retail investors without adequate resources or technical knowledge.
T op 3 new cloud mining projects in 2022 Copium Protocol — The best new crypto mining investment ecosystem StormGain — Top Bitcoin cloud miner Zionodes — Top marketplace for Bitcoin mining
A closer look at the best cloud mining projects of 2022
1. Copium Protocol — The best new crypto mining investment ecosystem
We begin this list with the easiest way to earn returns from crypto mining. Copium Protocol is one of the leading projects that bring passive income opportunities in crypto mining to the masses. Even if you’re not familiar with the technicalities of mining, you can still make a profit with Copium Protocol.
Spotlight WireThe project is centered around Copium Mining, a cryptocurrency mining company registered in New Zealand. The large-scale mining facility is completely powered by a surplus supply of green hydroelectricity. As the company expands and upgrades its mining infrastructure, it introduces some excellent investment opportunities to the public.
This is made possible through Copium Coin and Copium Investor Pass, the core assets of the Copium Protocol ecosystem. Let’s take a closer look at them and how they play a key role in delivering Copium Protocol’s goal to lower the technical and financial barriers to crypto mining.
C opium Coin (ERC-20 token)
Copium Coin is an ERC-20 token that powers the Copium Protocol ecosystem by facilitating different use cases. It can be staked for locked and unlocked periods in exchange for attractive interest. The rate of interest will be proportional to the locked period of the selected staking contract.
The longer you hold your Copium Coins in the Copium Staking Protocol, the higher the rate of interest. Once the staking contract expires, the Interest accrued during each locked staking period will be paid to you in Copium Coin.
The token has a total supply of 1B. You can use any wallet that supports the Ethereum blockchain to store your Copium Coin holdings.
Copium Investor Pass (NFT)
Copium Investor Pass, on the other hand, is an Ethereum-based NFT collection. Each Investor Pass gives you a wide range of perks and privileges in the Copium Protocol ecosystem in exchange for your early support of the project. The Investor Pass, too, can be staked to earn rewards.
These are some of the compelling benefits that each Copium Investor Pass comes with:
Exclusive one-off airdrop of 10,000 Copium Coins via a gas-only transaction Exclusive rates when staking Copium Coin holdings Eligibility for the draw to win 1 of 2 Bitcoin giveaways Automatic entry into monthly Copium giveaways
Spotlight WireCopium Protocol will use the funds collected from the sale of the Copium Protocol Investor Pass to buy wholesale quantities of the latest and most power-efficient mining equipment. Additionally, the funds will go towards upgrading infrastructure and capacity at the existing Copium Mining facility.
Thus, when you’re buying Copium Coins and Copium Investor Pass, you’re investing in crypto mining. The project returns the benefits of the new infrastructure to investors through different mechanisms. Let’s see how that works.
Copium Coin Burn Protocol
The platform uses a share of the daily revenue generated from the crypto mining facility to buy Copium Coins from the open market. The purchased tokens are then burned to reduce their total supply. The value of the token is expected to increase as its supply in the market gradually declines.
The deflationary mechanism also goes a long way in supporting the token price during crypto winters. It empowers users to confidently invest in the ecosystem without worrying about the steep ups and downs the crypto market is notorious for.
Visit Copium Protocol
Copium Staking Platform
Investors will be able to stake their Copium Coins and Investor Pass in the Copium Staking Platform at various staking rates. It will be a noncustodial platform where you retain ownership of your staked tokens. They are locked within your wallet during the staking period.
Before staking, you can estimate the potential earnings by selecting and adjusting interest rates and time period sliders on the platform. There is no penalty for premature unstaking. However, you will be required to forfeit the interest accrued in your time-locked staking contracts if you exit early.
Spotlight WireThe staking rates for Investor Pass holders will be substantially higher than the public. For example, they get a one-time-only, initial staking rate of 38% APY for a locked 36-month period. They can also stake their Investor Pass for daily Copium Coin earnings. The protocol distributes ten Copium Coins per staked Investor Pass for a guaranteed period of 24 months.
The staking platform will go live following the launch of the Investor Pass NFT collection and Copium Coins.
How to buy Copium Coins and Copium Investor Pass?
The collection of 10,000 Investor Pass NFTs is scheduled for launch on the Ethereum blockchain in early-mid October. The launch will be via a Dutch auction at a starting price of 3.5 ETH. If you are among the first 2000 people to register for the event using the pre-mint link available on the Copium Protocol website, you can get the NFTs for a lower fixed price of 3 ETH.
Copium Coins will be launched around the same time the Dutch auction opens. The public sale of the token will begin on Uniswap. However, you can get them early at a discounted price from the presale that is scheduled to run for 60 days (or till the tokens sell out) before the official public launch.
Pros
Large crypto mining investment ecosystem Innovative new concept Easy way into crypto mining Attractive staking rewards Green mining
Cons
Relatively new to the market
2. StormGain — Top Bitcoin cloud miner
StormGain is another interesting platform that helps you get into crypto through a variety of different means. The most prominent of these is, of course, cloud mining. Although Stormgain is basically a cryptocurrency trading platform, its cloud mining feature allows you to earn a decent passive income.
Spotlight Wire
How does it work?
You don’t need to be equipped with crypto mining hardware or software to get started on StormGain. Instead, you just need to sign up on the platform. Every time you want to join the cloud mining feature, you should click on the [Activate] button, and you’re good to go. The method is similar to how most cloud mining platforms work.
But make sure that you log in and activate the button multiple times a day. This is because the platform stops mining after every four hours. So, you can’t just turn on your computer and leave it in a room for days. It requires your vigilance. To reduce energy consumption, you can close the browser if you’re not using it. This feature gives StormGain a competitive edge in a crowded market.
StormGain mines Bitcoin primarily. When you begin your journey on the platform, you get a specific (lower) rate for mining Bitcoins. As you move forward, you can increase the rate.
How do you do that?
You can increase your mining speed on StormGain by increasing your trading level. While you begin with a lower rate, you can jump up to six more levels and increase the speed consistently. You can reach the highest level if you have 75,000,000 USDT trading volume per calendar month. It gives you an income of up to 16,000 USDT per month.
Spotlight Wire
Refer and earn crypto
StormGain also offers other methods to earn some extra bucks. The most interesting of these is to participate in their referral program. For this, you just need to invite other people to join the platform by sharing an invitation link with them.
If they click the link and sign up on the platform, you become eligible for the referral rewards. The referral rewards vary based on the activity of the new user. Usually, the platform gives you 15% of the cryptocurrency the user withdraws. Additionally, the invited party gets three USDT for registering using the referral link. In essence, it rewards both parties, incentivising more people to join the platform.
Mobile application
If logging into the platform every four hours to activate mining sounds like too much work, there is an alternative. The StormGain mobile app allows you to activate the button from your mobile device so that you can mine crypto on the go.
Pros
One-click mining process Limited energy consumption Buy, sell, trade, exchange, and mine crypto Android and iOS native applications
Cons
The 4-hour shift requires you to activate the miner multiple times a day The mining speed rate is very slow unless you’re a large-scale trader Withdrawal fees are high
3. Zionodes — Top marketplace for Bitcoin mining
We wrap up this list of the top three cloud mining projects with Zionodes, one of the most user-friendly bitcoin mining farms. It allows you to choose from pre-installed equipment and start mining within minutes.
Spotlight WireThe key factor that drew us to Zionodes is its impressive UI, designed factoring in people from a non-technical background. The sign-up process on Zionodes is easy, and you can start mining on the platform in a few clicks. The dynamic dashboard allows you to see your income every few minutes.
The platform has partnered with many top names in the mining industry, including ViaBTC. This helps it bring attractive income opportunities in crypto mining to users.
Another key advantage of Zionodes is that the availability of computing power is not an issue once you’ve purchased their hardware. It has data centers across North America, South Africa, Europe, and Russia. The platform supports payments in multiple cryptocurrencies, including BUSD, USDT, and USDC across different networks like Ethereum, Binance Smart Chain, and TRON.
Spotlight WireHowever, you need to be acquainted with the basics of crypto mining to understand how the platform works. If you’re looking for a completely passive method of earning income from crypto mining, Zionodes is not for you.
Pros
Dynamic dashboard Pre-installed equipment Data centers across the globe
Cons
High technical barrier
Conclusion
In this article, we took you through the best cloud mining and bitcoin farming projects for 2022. While Zionodes is best suited for users who are already well acquainted with the basics of crypto mining, StormGain works well for large-scale crypto traders.
Copium Protocol, on the other hand, excels in terms of both usability and returns. Copium Coins and Copium Investor Pass NFTs take the concept of cloud mining a notch up using a creative staking reward system. The ecosystem ensures that your investment accrues reliable returns over time. Moreover, the protocol is based on green mining. This essentially means that you can invest in Copium Protocol without worrying about your carbon footprint.
Visit Copium Protocol
Disclaimer - The above content is non-editorial, and Economic Times hereby disclaims any and all warranties, expressed or implied, relating to it, and does not guarantee, vouch for or necessarily endorse any of the content. Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.
This story originally appeared on: Muscle & Fitness - Author:Tax Cognition
