Mine Bitcoin for Free? These Cloud Mining Platform Make It Possible In 2024

Last updated on June 19th, 2024 at 10:38 am

Did you know you can earn Bitcoin without actually buying or trading it? Mining Bitcoin through cloud mining is the best way to own Bitcoin. If you don’t have money to buy Bitcoin.

History has it that Cex.io was the first bitcoin cloud mining company in 2013, according to research.

So, while there are paid Bitcoin cloud mining sites to mine bitcoin, I’m going to drop a mind blowing resource on the best free Bitcoin cloud mining sites to mine crypto.

After reading this article, those processors going to waste each night or day on your PC or mobile will be earning you some free crypto.

So, are you now ready to learn how to start mining free bitcoin through cloud mining? Take a seat and a glass of wine, and keep reading. 

If this is your first time hearing the word “cloud mining,” don’t worry; here’s what cloud mining means in simpler terms.

What is Cloud Mining

Cloud mining is like renting a mining rig instead of buying one outright. Basically, a company sets up powerful mining rigs in a data center, and you pay them a fee to use a portion of that mining power.

It’s a convenient option if you want to mine crypto but don’t want the hassle of buying and maintaining your physical mining hardware.

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Here’s how it works in simple terms: The cloud mining company owns and operates the mining machines. You sign up for their service and rent a mining contract or package based on how much mining power you need.

The company then assigns some of its mining rigs to work for you, solving the complex math problems to validate crypto transactions and earn mining rewards.

The big advantage is that you don’t have to worry about the big upfront costs of buying mining rigs, dealing with the heat and noise they generate, or keeping the machines updated and running smoothly.

The cloud mining company handles all of that for you in their data center, while you simply earn a share of the crypto that gets mined according to the amount of mining power you rent.

How Does Bitcoin Cloud Mining Work?

Bitcoin cloud mining allows people to mine cryptocurrencies without having to buy or manage any mining hardware themselves. Instead, you can rent mining power from companies that own and operate the hardware. Here’s how it works:

• Mining Pools: Users join mining pools, which combine the computing power of many individuals to increase their chances of solving a new block and earning rewards. The rewards are then distributed among the pool members based on how much mining power they contributed.
• Buying Hash Power: You purchase a certain amount of “hash power” from a cloud mining company. Hash power refers to the computing power used for mining. The more hash power you have, the higher your chances of solving a block and earning rewards.
• Getting Paid: You receive payments based on the hash power you purchased, allowing you to participate in mining without setting up your own mining rig. The rewards are shared between you and the company, so you don’t have to worry about buying hardware, getting fast internet, or paying for electricity. Best Crypto Nodes for Passive Income [Up To 20% Even With $100!]
• Benefits: Cloud mining saves you from having to buy and maintain expensive mining equipment, as the company covers those costs. By renting hash power, you can get a share of the mining rewards without the upfront investment and maintenance hassles of running your own mining operation.
• Risks: However, cloud mining isn’t without risks. The high value of cryptocurrencies has attracted scams, so you need to be careful of fraudulent activities. Also, as more miners join, it becomes harder to solve blocks, which can reduce your returns. Some worry that cloud mining could lead to centralization, going against the decentralized nature of cryptocurrencies.
• Platforms: There are several cloud mining platforms to choose from, such as Binance and others. Each platform offers different features, like supported coins, minimum contract lengths, and payment methods. 

The Best Free Bitcoin Cloud Mining Sites

Finding the best free bitcoin cloud mining sites is very difficult and stressful. You probably might have done research and still ended up finding none, just like I’m right now.

When it comes to finding the best free bitcoin cloud mining sites, most websites or blogs will flood your screen with free, cheap scam websites that will end up not paying you or even demand funds to withdraw your earnings, which is hilarious.

A Reddit user posted some free bitcoin cloud mining sites, which he’s currently testing and updating to see if they’re scams or not. Check them out.

On the other hand, some websites or blogs only deceive their audience by writing about some paid cloud mining as free bitcoin cloud mining just to promote it and gain some commissions.

Moreover, some paid bitcoin cloud mining sites still don’t pay in some cases, while others pay a penny compared to what you paid to acquire their services.

However, after some deep research and stuffing all over the net tirelessly, I found just two free bitcoin cloud mining site that seems legit, “StormGain” And “Crypto Tab.”

1. StormGain – A free bitcoin cloud mining site

StormGain is a crypto exchange that is yet to be licensed, and it has a unique feature called the Cloud Miner. With this platform, you can mine free Bitcoin without mining rigs, and it is available in desktop and mobile versions.

Since the mining happens on remote cloud servers, you don’t have to worry about draining your device’s battery or overburdening its CPU.

Getting started is easy. Once you’ve created an account, simply navigate to the Bitcoin Miner page and hit the ‘Activation’ button.

After just four hours, you’ll receive your first mining reward. As soon as you’ve accumulated 10 USDT (roughly worth of Tether), you can deposit it into your StormGain account and start trading cryptocurrencies.

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But that’s not all. StormGain also provides a range of risk management tools to help you trade with confidence. These include stop-loss orders to limit potential losses, take-profit orders to lock in gains, mobile alerts to stay on top of market movements, and regular cryptocurrency forecasts from experts to inform your trading decisions.

Users should kindly note that, after claiming your first mine crypto, you can’t withdraw it to an external wallet but only used to trade on the exchange, and then you can withdraw the profit earned from trade to another wallet of exchange.

Before venturing into the mining process, it is always advisable to go through their mining terms and conditions.

Is StormGain a Legit Free Bitcoin Mining Platform?

StormGain may not have any regulatory bodies officially overseeing them at the moment, but they’re certainly making efforts to keep things above board.

For one, they’re a part of the Blockchain Association under the Financial Commission—kind of like a self-regulating body for the crypto space that promotes best practices and ethics. 

But perhaps more importantly, the platform has been racking up plenty of positive reviews from actual users on Trustpilot. From what I can tell, a good number of traders seem pretty happy with the experience StormGain provides.

Speaking of adding legitimacy, remember when they sponsored Newcastle United’s kit during the 2019/20 Premier League season? That was a huge marketing strategy for them! Getting that kind of global brand visibility, especially among die-hard football fans, certainly didn’t hurt their reputation.

So while not having any official regulators looking over their shoulder might raise an eyebrow or two, StormGain does seem to be making genuine efforts to operate transparently and keep customers satisfied.

Their industry ties and major sponsorship were likely strategic moves to build more credibility and trust.

However, some users also talk negatively about the platform based on their experience on Quora, which you might want to check out.

2. CryptoTab Browser: Mine Free Bitcoin Daily

CryptoTab Browser is legitimately one of the most innovative crypto products.

Basically, it allows anyone to mine Bitcoin just by using a crypto tab web browser—no need to buy expensive mining rigs or have your laptop sound like it’s preparing for lift-off.

Here’s how it works: you download the CryptoTab extension on your PC or the app on your smartphone.

Register, and it will start mining in the background as you surf the web, watch YouTube videos, check emails, etc.

CryptoTab has built-in optimizations to mine more efficiently than your typical browser-based miner. They have this “Cloud.Boost” feature that can actually increase your mining speed up to 15x. Imagine how much extra Bitcoin you could stack.

Now, the question is: how much can you realistically earn? Well, it obviously depends on your computer’s processing power. If you have a decent GPU or CPU, you’ll earn well compared to something like an old bargain laptop.

However, referrals also count; having lots of referrals will also help in mining more bitcoin on the crypto tab browser.

The best part is that you can view all your live mining stats and earnings within the CryptoTab browser itself. It’s just such a low-effort way to get exposure to Bitcoin mining.

You can check out this guide on how to mine bitcoin on the crypto tab.

Bitcoin Cloud Mining Scams

While cloud mining sounds like an easy way to mine crypto, there’s an unfortunate downside you need to be aware of.

There are now a lot of fake companies and fraudsters trying to get rid of people. They set up cloud mining sites and collect fees, but never actually do any real mining. It’s a way for the scammers to line their own pockets.

So while the idea of cloud mining is legit, you have to be very cautious about which company or service you sign up with.

Do lots of research, read reviews, check their reputation and track record, and look for signs of fraud. Verify that the company owns the mining rigs they claim to have. Don’t trust flashy marketing promises.

It’s crucial to vet any cloud mining provider before handing over your money. Scammers can seem very professional at first glance, so you need to dig deeper. If something seems fishy or too good to be true, trust your gut instinct.

Conclusions

The risks of cloud mining scams are real, but that doesn’t mean you should avoid the idea. It can still be a convenient option, as long as you pick a legitimate, reputable company that is legit. Do your due diligence first.

A lot of upfront research can save you from losing money to sketchy cloud mining fraudsters. Don’t let the scammers ruin a neat crypto-mining concept for you. But keep your guard up in this space.

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