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  • Writer's pictureRodney Alkins

Cloud Mining on Binance

Binance Cloud Mining enables users that don’t have access to mining equipment to earn mining rewards from the Binance Pool. You can purchase hashrates from the Cloud Mining products and start accumulating rewards in your Funding Wallet.

I was wondering when Binance would get around to mining and how they would implement it. Well, I like what I see. If you are accustomed to the Binance website then you wouldn't need an introduction but I will still give you a short one. Binance is the most popular and possibly the largest crypto exchange in the world although being closely challenged by Coinbase. If you don't have a Binance account as yet then you are missing out on plenty of opportunities to earn some sweet income.

For those people living in the United States you will have to use www.Binance.US Cloud mining may not be available to US IP addresses.

Binance Smart Pool

On to today's opportunity! Cloud Mining on Binance is very much welcome in today's very scam filled environment. I too have been fooled by some very legitimate looking platforms. However, with very little reservation I will say that you can literally shut one eye and invest in the cloud mining opportunity on Binance. Binance's Smart Pool is a service that enables the user to get higher profit by auto-switching hash rate to mine different currencies with the same algorithm. Binance Smart Pool is supporting the SHA256 algorithm and the hash rate of users can be switched among BTC, BCH, and BSV automatically. So it is keeps switching amongst the most profitable coin at each time.

Binance has stated that clients will receive a guaranteed minimum income. Due to the real-time hedging of the Smart Pool, "we will guarantee the final mining income of users will be higher than the general income of the FPPS payment method". Once there is a circumstance that the final actual income is lower than the FPPS income, Binance Pool will guarantee to compensate for users’ loss. Really, I can't argue with that approach, good on you, Changpeng Zhao

Binance Cloud Mining

If you have a Binance account already then all you have to do is go to the Earn tab and look for Binance Pool, click and then it will take you to:

Once you click Cloud Mining then it will take you here:

Once you click buy now you will be taken to another section where you must pay in USDT

as that is what is currently being accepted at this time. In the buy now section you will also see a calculator displaying your potential earnings. The only thing I was concerned about was the electricity rate. However, this comes with the territory. I wouldn't be able to to afford to purchase one of the Bitmain miners and then pay to set it up and maintain it. So all things being considered a cloud mining contract from a trustworthy company is the more profitable way to earn cryptocurrency outside of trading which is inherently more risk.

Once you have USDT on your account or crypto that may be exchanged for USDT. Then you pay. That is it. Once subscribed, your Cloud Mining order will be connected to the Binance Pool before 04:00 (UTC) on the Thursday of the following week. You can check the watcher link in My Orders to monitor the real-time operation status of your hashrate. To view the revenue and runtime of a specific order, go to Earnings History. Enjoy your earnings!

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