In this guidewe analyze the profitability of ScryptCube Cloud Mining . Is it convenient or scam?
We tried it for you and we give you our opinion after 2 months of use.
How the Cloud Mining Profitability is calculated
There is an important premise to make when analyzing the profitability and earnings of Cloud Mining services.
Profit is related to two factors:
- The difficulty of Bitcoin Mining
- The value of the mined crypto.
- Bitcoin Mining over the years has become really complex. You’ve probably heard of the first Bitcoin miners who managed to mine Bitcoin with an home computer and little more than an ADSL internet connection. Today Bitcoin Mining is really different and complex, the difficulty of mining over the years has increased: this is the reason why many people buy Bitcoin Cloud Mining contracts.
- Regarding the value of the crypto, this varies according to the periods. Let’s take a practical example: in the middle of March 2020, Bitcoin hit an annual low of around $ 4000. So the suggestion in this case is to evaluate the average price of bitcoin over a certain period of time (which is the one linked to the investment you have chosen).
In addition to this, it must be considered that the cloud mining company obviously works for you … so a part of your income will be used to pay for its activity.Start Bitcoin Cloud Mining Now →Buy BTC NOW with PAYBIS! →
How much do you earn with Scryptcube Cloud Mining
Having made this necessary premise, let’s start from the purchase price of 1TH / S in cloud mining on ScryptCube .
$ 4.90 for a 1 year contract for 100 GH / S.
Trying 1TH / S for a total cost of $ 49 for an annual contract we had these results.
Investment 49 usd
≈ $ 76.97
By investing 49 dollars, with the Bitcoin price of around 33,000 dollars, after 1 year we will get 0.00231218 bitcoins, equivalent to around 76.97 dollars.
The profit would therefore be 28 dollars.
This is a profitability of around 60%. Not bad!Start Bitcoin Cloud Mining Now →Buy BTC NOW with PAYBIS! →
How much does the Price of Bitcoin affect Cloud Mining Profitability
As written above, the profit deriving from cloud mining on ScryptCube depends on the price, in any case by analyzing the previous histories of the price of Bitcoin, whenever the price has exceeded its all-time high (in the last case 20,000 dollars) it is not deeper below that threshold.
So let’s try to figure out what would happen with the Bitcoin price at $ 20,000. Would ScryptCube still be profitable?
Considering that a decrease in price would lead to a potential decrease in mining difficulty, but also a decrease in profit, even with Bitcoin at $ 20,000 ScryptCube would be profitable even if only slightly…. With $ 49 invested, you would get about $ 50 after one year.
And what would happen with the price of Bitcoin at 100 thousand dollars. How much would you earn with ScryptCube?
Considering an increase in the difficulty of mining, such an increase in the price would produce a revenue of about $ 200, which is a revenue of about 300%. Buying Bitcoin at $ 30,000 would result in a revenue of 200%. Therefore a + 100% compared to the direct purchase of Bitcoin.
ScryptCube or Genesis Mining? Which is the most affordable cloud mining?
Currently the contracts on Genesis-Mining are firm, in any case the latest Bitcoin Mining prices on Genesis-Mining provided for a cost of about 80 dollars for 1TH / S so at that price buying a Bitcoin Cloud Mining contract on Genesis Mining is totally inconvenient.
If you are also interested in Mining Bitcoin in the Cloud, we definitely recommend ScryptCube , considered by our team the most profitable service at the time of writing.Start Bitcoin Cloud Mining Now →Buy BTC NOW with PAYBIS! →