If we go back in time 2 years, I was really into cloud mining. I mined on both HashFlare and Genisis Mining. I spent money on lifetime plans and saw it as an investment. It would take time before I started making money but still, it would happen eventually. Or so I thought. On HashFlare I spent about $100. It was lifetime contracts. But then something happened. They changed the contract to 1-year contracts. This made it entirely unprofitable. What I ended up with from my $100 investment was a grand total of $0,6. The minimum withdrawal is at $80.
HashFlare ended up being just another scam. What a surprise. It was too good to be true. Cloud mining is not worth paying for at all. But what if there was a way to cloud mine for free? Turns out there is! Electroneum offers free cloud mining on your phone and it’s so easy that anyone can do it.
Cloud mining for free. How do you do it?
When you have the app you can go to the “Miner” section and start mining! That’s how easy it is. It has a 7 day mining period but you can extend it every 24-hours. You basically just have to open the app once a week to keep mining. You might have to do some selfie verification sometimes to extend the mining period. It can be pretty annoying and I would suggest just submitting your ID to be completely verified. Then you won’t have to do any selfies.
How much can you make from free cloud mining?
You can increase your cloud mining earnings by going to “More” and then “Referral program”. You can then either enter my code “78CEBD” or scan my QR code and you will receive a 1.00% bonus on everything you mine!
But how much do you actually make? I’m currently at 64,47 ETN. That’s $0,29. It’s not much, but it’s passive income. It’s like PacketStream. You won’t make a lot but it doesn’t require you to do anything. So why not do it? You can payout once you reach 100 ETN and then move it over to your favourite exchange like Huobi. I would suggest holding on to the ETN for awhile instead of selling it. Just to see if it might go up in price.