How to Mine Bitcoin in the Cloud

Mining Bitcoin in the cloud is great for beginners, because you don't have to deal with any hardware or electricity costs. In most cases, the server connects directly to a mining pool, so you begin to earn Bitcoins instantly.

With the mad rush of newbies trying to capitalize on Bitcoin comes the scammers. I have personally calculated the mining yield of several cloud hosted mining companies. For the vast majority of them, you won't ever get your money back. The reason being is that mining gets more and more difficult overtime, requiring more and more computer power to earn the same amount of Bitcoins. Therefore your earnings will decay significantly per month, unless you up your computing power.Don't forget that you can always earn free bitcoins online.

When you buy a mining contract, you buy a certain number of gigahashes per second (Gh/s) for a certain duration of time. I use this Bitcoin Mining Calculator to calculate how much I will earn. Simply input the hash rate (Gh/s) and you will see how much you will earn this month and the next month, assuming Bitcoin stays the same price.

Currently, the cheapest cloud hosted mining contracts out there are from PB Mining. I estimate that from PB mining, I will recover my principal in roughly 3 months and continue to earn passive income for 5 years.

PB Mining contracts are 5 years long, verses the typical 12 month term. I don't anticipate that I will make that much money after 12 months, since the mining difficulty will go up so much. But it is nice to know that my mining contract will still be trickling Bitcoins for 5 years.

Before you buy any mining contract, make sure you calculate your yield so you don't get scammed. If you don't want to buy and install expensive mining equipment, Bitcoin cloud mining is the way to go.

Here we have a list of most trusted cloud mining websites, hope that will help any user who want to start mining in the cloud !

From here you can buy the cheapest KHS from the market to mine the most protitable Scrypt coins  http://bit.ly/bitcoin-mine

Here you can buy KHS and GBS to mine coins from Scrypt, SHA-256 and X11

http://bit.ly/bitcoin-mining-free

On of the fist website which provide cloud mining service with thousands of members ! http://bit.ly/multiply-your-bitcoins

If you have any question do not hesitate to let us one comment! Happy mining.

Sending and Receiving Money With Bitcoin

The bitcoin system is one of the first types of crypto-currency which has existed in the market since January 2009. What makes bitcoin different from regular currencies is the fact that bitcoin uses cryptography to monitor and control the creation and transfer of the currency between different parties. Bitcoins are generated over time at a diminishing rate, and the maximum amount of bitcoins in the market at one time is 21 million units. The usage of bitcoin eliminates the need of a third party when it comes to completing online transactions.

What makes bitcoin different from other online currency systems like Paypal is that the currency is decentralized. This means that no group or organization has a control over it. This is unlike real currency that is monitored by central authorities. Real currency is controlled in terms of the printing and distribution of coins and notes to the public. And compared to other online payment systems, there are little to zero charges to transfer bitcoins. Using bitcoins will be especially useful for businesses which carry out a majority of its transactions online.

To start using bitcoins, all you need is a bitcoin wallet. Since bitcoin is a virtual currency, you cannot hold it physically, unless you exchange it for goods and services. Your e-wallet is where your bitcoins are kept secure. E-wallets are convenient and easy to use. You can find many bitcoin wallet providers like My Wallet from blockchain.

Your bitcoin wallet can also be accessed via your smartphone. Having a smartphone will enable you to sell and buy bitcoins wherever you are. Apple blocks bitcoin wallets from its App Store. But if you are an Android user, many mobile apps are available for you to transact using bitcoins.
And if you feel that your bitcoin wallet is unsafe, you will want to have desktop clients to store actual bitcoins onto your laptop or PC.

When you start a wallet, remember to save the file on the computer and back up the file. Make multiple backups if you feel insecure. Using bitcoins give users a sense of safety, as they are not relying on other parties like banks to take care of their funds. Most users will prefer to use the original software which has been around since the inception of bitcoins - the Satoshi Client.

After creating your wallet, you are on the way to selling and buying bitcoins. There are many ways that you can obtain this online currency. The methods include buying it from various sellers, receiving it in the form of product sales, doing actions and fulfilling conditions to obtain free bitcoins and also by mining bitcoins - only for advanced users. Bitcoin is a growing currency and will most definitely be one of the top items in the online world in the near future.

For more information about bitcoins and bitcoin wallet, feel free to search the Internet for more information. With the usage of bitcoins, you will be able to earn extra income and you will have an additional way to receive and make virtual payments.