How many cloud companies are there who provide mining opportunities? How many of them are scammers? Unfortunately, more than a half. The review will help you to get a better idea of trustworthy companies.
IQ Mining: Review Of The Cloud Service And Basic Information
How many people in the world are working on supporting cryptocurrency? Did you know that they are formally volunteers who prevent the blockchain from attackers and gain the reward in bitcoins or other cryptocurrencies? It is how blockchain system works. On the other hand, this is a good way to earn money especially when one bitcoin costs around $7,000. In 2142 the limit of 21 million bitcoins will be reached, and no more coins will be awarded for mining. Though the blockchain will exist and support the system. What will happen during the next few years? It is important information to consider. After every 210,000 blocks, the reward in bitcoins is halved. Initial reward was 25 coins for a block; now we receive 12,5 coins, in around two years the reward will decrease to 6,25. This information is important if you consider a long-term investment.
What is IQ mining?
IQ is a company that provides equipment for mining. You as a client can rent it and use for gaining cryptocurrency. In practice, there are no efforts to invest. You buy a contract and receive a reward every month. The only thing that is highly recommended is previous research. Don’t be head over heels in love with the idea of easy money. Do the research, compare various services, check the equipment and if you want to go deeper, read the bitcoin whitelist published in 2008 which explains the concept and principle of blockchains. IQ is one of the cloud services that can rent you equipment. In addition, it has plenty of pleasant offers for clients. Investing in a cloud is simple and safe.
IQ Mining History
When we review the history of cloud mining technology, we discover that it I fresh. Though the appearance of pools was inevitable because this is an effective way to rich the desired power. The more power, the more reward. People are still buying GPU (graphics processing unit) ad ASIC equipment for mining coins at home, but the truth is every year the process becomes more and more complicated and needs more and more power. The GPU farms have almost lost their efficiency and ASIC equipment will constantly be becoming less and less efficient. It may be enough for a few years, but long-term perspective lays into cloud services. Review the basics of the principles before making a decision. Research is important.
IQ mining is a young service as any other pool on the market, but they have already achieved many goals. Representatives in Canada, Russia, Iceland, Georgia, Algeria, and China are working together to create a single powerful node which does not only support the idea of electronic cash but also help other people to join the system.
How does IQ mining work?
IQ mining review showed that this is a smart business that covers conversions and other services. While many are concentrated on bitcoins and only one SHA-256 algorithm, IQ offers script, ethereum, zcash, and dash mining. It means that the variety of cryptocurrencies are much wider. Withdrawal options though leave only money or bitcoins. On the other hand, the information on the website states that conversion is very reasonable and efficient. We always recommend doing personal research before making any decisions. Every promotional information sounds good, but sometimes it may significantly differ from the real facts.
Pricing
IQ mining reviews showed that it is pricing that attracts people invest in the cryptocurrency. Together with a simplicity of usage that feels like a passive income, people are attracted by small investments which can turn into a huge reward. For example for 3 TH/s you pay only $240 once and less than 50 cents monthly for the electricity. What will 3 TH/s or 3,000 GH/s bring you? It depends on the power. If you don’t know the power of the equipment you are renting, you will likely to lose money. It is not possible to predict an income without technical information about the power supply.
Before using any cloud mining service, check the information. No matter how small the initial investment is, you probably don’t want to invest in the development of scam. Pay attention to the option of iqmining.com promo code. It may grant you with a pleasant discount.
Trust rating
Trust is the most important issue that stops people investing money in cloud crypto business. You can buy a contract, but you can’t be assured that it will bring you money back. It is more or less similar to trading where you are playing in predicting the destiny of the financial world. To check if the service, not a scam you should:
- Talk to the support service paying attention to the English grammar and word choice;
- Request technical characteristics of the ASIC equipment, its power supply;
- Check the domain name and the owner of the domain or similar service;
- Check the location of the hardware and rates per electricity there;
- Review entries on the Internet.
If many people are using the service, it is likely to be safe. On the other hand, additional precautions won’t harm. If any of the points won’t satisfy your requirements, you should not invest in the service. Review of IQ mining scam check showed that the trust rating is enough to buy a contract and risk. You, as a customer, should do your research and compare it with other companies.
Coins
Miners acknowledge that each crypto coin type needs separate ASIC hardware. ASIC can proceed only one type of algorithm. The fact that the company proceeds various types of cryptocurrency is evidence for its trustworthy. No business would invest such amounts in hardware to proceed a scam business. At the moment the coins of the following algorithms are available:
The choose of coins is a hard question. Bitcoins will definitely lead the market in future, but maybe with mining other coins and converting it to BTC will bring you more income. You should always consider all options. Note that payout is possible only in BTC or money.
Services provided
The company, like any other type of business, offers you services together with 24/7 support, free consultation, and advisory service. You can find information about it on the webpage. There is an option to customize your contract. You can see your payouts every hour and withdraw it a very month. There are no other services, but cloud mining stated on the website. You can contact a support agent for getting information on the affiliate programs.
General conclusion
IQ is one of the many cloud services which allows people gain cryptocurrency without buying expensive equipment. It is trustworthy enough to invest in. The company offers various cryptocurrency with a payout in BTC. Mining with cloud service is simple. In addition to all the privileges is there an IQ mining referral code which can grant clients with a generous discount. On the other hand, people should always see the bigger picture.
Keep in mind that in two years the bitcoin mining will increase significantly because the reward for the block will decrease to BTC 6, 25. Keep in mind that equipment is constantly losing its efficiency as the process is constantly becoming more complex. Pools and clouds will take privilege in mining eventually. How much will cryptocurrency cost in future? Is it a long-term investment or easy money? Do your research and decide wisely.