Let's say that you are not willing to invest your hard earned money in a cloud mining rig, yet would like to start cloud mining for almost free. Is there a way to do it? I think there is and I am going to show you my method of achieving it.
Remember, I said almost free.. so here are the finer details.
- Obviously you need to have some sort of a device to connect to the Internet (Desktop, Laptop, Mobile phone, etc) (Remember: No mining is done using YOUR device! )
- You should be able to pay your monthly electricity bill and the Internet bill.
- You are willing to put your time for this endeavour, expecting that what you are doing in the present will reward you in the long run.
Warning:
Like with any other investment you might lose money (if you actually invest your money!) . In addition, the strategy I am explaining might result it just wasting your time, energy and resources. So implement at your own risk and discretion!
Note that, if you are residing in the state of Washington, USA, as of May 1st, 2017 you cannot use this method, sorry! ( The cloud mining platform I am going to talk about ceased its operations in the state of Washington as of May 1st, 2017 )
OK, so here it is …
Step 1: Open an account with EOBOT, a cryptocurrency cloud mining platform.
Opening the account is FREE.
Above: EOBOT sign up/ login page.
There are several very important features of EOBOT that I am going to utilize in my method. They are listed below,
- EOBOT has a free daily faucet that gives away cryptocurrencies (19 options, you can select what you like. You can even select to be rewarded in terms of Giga hash per seconds (GHS)! )
- Mining can be diversified.
- Cryptocurrencies can be transferred from other free faucets on the Internet.
- Cryptocurrencies can be exchanged to GHS ( EOBOT has a 24 hr rental or 5 year long rental )
Above: EOBOT dashboard
Step 2: Go to EOBOT faucet and get the reward in Dogecoins
( usually the daily average amount is ~ 1.5 DOGE ) Note: Faucet will reward you only once per 24 hours.
Above: EOBOT daily faucet
BIGGER PICTURE : INITALLY, INCREASE 5 YEAR RENTAL GHS (AT LEAST TO 10 GHS OR MORE) SO THAT REAL MINING CAN BE STARTED ON YOUR PREFERRED COINS AT A LATER STAGE.
Step 3: Exchange the free DOGE you got from the faucet to 5 year GHS.
Step 4: Diversify mining: I usually mine Dogecoins and GHS
Note: EOBOT randomly rotated mining your selection every 10 minutes
Step 5: When you have around 3.0 Dogecoins ( both from daily faucet and mining ) convert that to 24 hour rental GHS
This will give you around 10.5 GHS for a 24 hour period
Step 6: Dedicate mining GHS during that 24 hour period, after which your 5 year GHS will slightly increase.
Step 7: Go back to Step 2 and repeat steps 3 through 6.
Now, there are two ways to accelerate your EOBOT GHS for free.
- Referrals.
- Bitcoins, Dogecoins or Litecoins generated from free faucets on the Internet. I will talk about the free faucets that I used for this project in part 02 )
Your comments/suggestions are welcome!
EOBOTS 35% exchange fee is insane...
Ya I know ...
WHO WANT 100000$ FREE IN 3 MONTH
Hourly work 1 min Claim free Coin if you lucky you will win 100000 coin
1 Dogecoin will 1 $ in next 3 month
http://freedoge.co.in/?r=982074
Create Wallet here
https://my.dogechain.info/#/overview
Freebtc se behtar hai kyun ki abhi iska rate kam hai les $1 aplog ek bar rol karoge to minimum 0.47 dogecoin milega har gante.
Hard work is always
Better than scam .....
Try this out sir, it pays.
I've been crunching the numbers of buying 5 year GHS vs 24 hour and I think the 5 year is always the winner. In the 24 hour GHS, you get 90% of the 5 year output in a 24 hour window. This is great if you are making coins to cash out but terrible if you are trying to build up GHS. On the test I did, I would have ended up with more GHS just buying the 5 year than I gained with the 24 hour. Also the payback time scale of 16 months for any money/coins you put in (even from the free non-eobot faucets - probably better to send them direct to your non-eobot wallet).