MinerGate Cloud Mining – Worth the Shot or Not?
Key to understanding cloud mining in a full-on MinerGate review
“Mining” is a common word for describing the process of cryptocurrency extraction. Back in 2008, when the concept of Bitcoin just emerged, the world of fin-tech got turned upside down. Mining farms, populated by a nation of techies, started to pop here and there, as it was the only way to come by the new-age virtual coins.
New times bring new problems, which are mainly about the cost of the crypto fad. If you want to mine, you need a computer. If you’re going to mine for living, you need a powerful machine. And by saying “powerful,” we mean “insanely.” Consequently, the capacity of any device is often overused. Your PC has to work longer, day-and-night, squeezing the hell out of it. Then it merely breaks down, and you are left with no PC and no motivation.
Remember that feeling well, as you are less likely to feel that way again. Cloud mining takes the floor, and this is the updated version of mining you all know. It involves renting hashpower in a mining pool, paying the commission, and mining the e-coins on the server-side without the massive hardware backing. In case you lack technical knowledge or fancy finding a different source of income, testing the waters with cloud mining might be just the thing. Some experts even consider it a low-risk investment opportunity, although this topic is to be discussed. One truth remains immutable – mining via cloud requires a minimum upfront investment. Without further ado, let’s get into the depths of cloud mining with MinerGate.
MinerGate Cloud Mining Review You All Craved!
To take off, here’s what MinerGate stands for. It is a “download and run” mining program that you are supposed to install on your computer or laptop. The software shows better hashing power when running on a high-capacity device. But even if your device’s capabilities are far from being stellar, the program will still perform pretty decently. From the inside, the network looks like a beehive, where every cell is reserved for a miner. Altogether, they supply the “honeycombs” with the hashing power of their computers. This accumulation of powers is what allows every miner to succeed and make the most out of the mining pool.
We won’t deceive you, MinerGate cloud mining will make your PC or laptop go all-out; to prevent a breakdown, get into the habit of checking its performance every once in a while.
When compiling this MinerGate cloud mining review, it took us a long time to access the service from different angles. Although word of mouth spreads too quickly, and the Web seems to be littered with negative feedback, we have still managed to discern the good. Here are our picks:
1. The diversity of available coins.
At the moment of writing this MinerGate review, the service no longer provides Bitcoin mining pools. Still, they are graciously replaced with the second-best crypto coins and Bitcoin forks. As so, there are ten coins on offer: Ethereum (ETH), Ethereum Classic (ETC), Monero (XMR), Monero-Classic (XMC), Litecoin (LTC), Bitcoin Gold (BTG), Zcash (ZEC), AEON, Grin, and Bytecoin (BCN). Their future project is to add Proof-of-Work coins.
2. The flexibility of miners.
MinerGate allows two mining modes: GUI and console. Whichever you choose, the support is incredible. You are likely to find answers to all your questions in a clear-cut and informative FAQ section. The help range varies from account setup and basic mining information to rewards and hardware specs. Failed to find the requested information? You can ask for help online; the support department of the MinerGate cloud mining program is quite responsive.
In addition to those mentioned above, this mining software supports both merged and smart mining. Merged mining stands for the simultaneous extraction of two cryptocurrencies and involves your manual selection of the funds you fancy to mine. Smart mining is an option to automate the process to the extent it needs no supervision or intervention. With that being said, the latter opportunity is deemed useful in terms of passive income generation.
3. The fees are lower than expected.
MinerGate program supports two payment models, PPS and PPLNS. These models apply to most of the available altcoins. Despite that, we should warn you that the fees for the same currency may differ. For instance, Monero cloud mining pool comes at a fixed 1% within PPLNS, while its PPS alternative amounts to 1.5% fee.
MinerGate Scam – Myth or Reality?
Seeking expert opinion or comprehensive MinerGate review before pushing the “Install” button is natural. Every newcomer who wishes to get rich with MinerGate keeps asking the same three questions, “Is MinerGate legit?”, “Is MinerGate safe?”, “What if MinerGate scam is real?” We’d love to reassure you or give you a spark of hope, but the truth is that the opinions are different. Some miners consider it a rip-off that steals their hashpower; the others praise it as the best thing they have ever stumbled upon. In the following paragraph, we’ll enumerate the upsides and downsides of the program, so it helps you make your own conclusion.
- Easy registration and use of the program
- 2FA security feature
- Low mining pool fees
- Smart and merged mining modes
- Round-the-clock support
- Ten altcoins available
- Competitive affiliate program
- Lack of transparency
- The support team is slow to respond
- Too little information about the owners
- Exploits the maximum capacity of your PC or laptop
On a Final Note
MinerGate is an established cryptocurrency mining service, perfect for those who are just embarking on the path. Easy-to-understand guidelines, 2FA security option, ten altcoins on offer, and versatile mining methods are among the program’s strengths. Hopefully, this MinerGate cloud mining review is clear enough for you to decide on whether to give this service a whirl or not. Anyway, happy mining!