A group of developers who decided to increase the block size limit of Bitcoin, implemented a code change in August 2017. This change was called a hard fork and took effect on August 1, 2017. As a result, Bitcoin’s ledger, known as the blockchain was split in 2, creating Bitcoin Cash (BCH). Bitcoin Cash’s block size of 8 MB, increases the number of transactions processed by the network. Its goal is to address the scalability issues in Bitcoin.
Bitcoin Cash (BCH) has grown to become one of the top cryptocurrencies in the crypto world. If you want to own some Bitcoin Cash, there are few ways to do it. The easiest way is to buy from a cryptocurrency exchange. An exchange like CEX can be used to buy Bitcoin Cash with a credit/debit card.
An alternative way to own Bitcoin Cash is to mine it. Mining Bitcoin Cash requires some initial investment from you. These come in the form of expensive ASIC mining rigs. If you are new to cryptocurrency, setting up a mining rig and mining from it can be quite difficult. Fortunately, there is another way to mine Bitcoin Cash. It is to cloud mine it. Below are some of the best services to cloud mine Bitcoin Cash (BCH):
Nicehash is a marketplace for buying and selling hash power. You can use Nicehash to cloud mine Bitcoin Cash. As a buyer, you buy hash power from a seller and allocate that power to mine Bitcoin Cash. In this case, you will be buying hash power from a seller hashing SHA-256 algorithm (Bitcoin Cash’s consensus algorithm). To cloud mine Bitcoin Cash with Nicehash:
- Register with Nicehash.
- Deposit Bitcoin to Nicehash wallet.
- Go to live marketplace.
- Select SHA-256 algorithm.
- Select Standard or Fixed order.
- Set how much you want to spend.
- Add in pool details.
- Click buy.
If you are using Nicehash for the first time, it can be quite difficult to learn how to use it. Before you buy hash power from Nicehash, it is important to find the right pool and find the algorithm of the coin. For example, Poolin is a pool for mining Bitcoin Cash and SHA-256 is the consensus algorithm of Bitcoin Cash (BCH). You can find the best Bitcoin Cash pools here.
Some pools require registering but some don’t. if you want to mine Bitcoin Cash anonymously, go with a pool that doesn’t require registering. Any pool you signup to will give you these details:
- Pool URL
- Worker name
Depending on the pool you use, these details can vary. Sometimes, you are required to create a worker and set a password. Some pools send payouts directly to the wallet, so you are required to set your Bitcoin Cash wallet address as the username. For example, Poolin automatically creates workers for every sub-account you own.
The pool of your choice will always provide detailed instructions on connecting mining rig to the pool. After you know all the details, you must add these details to Nicehash. If you are unsure about pool details you’ve entered on Nicehash, you can always use their pool verifier.
There are 2 types of orders in Nicehash. The “Fixed” order and “Standard” order.
Fixed – Constant hash rate throughout the order’s lifetime.
Standard – Hash power assigned to the highest bidder.
You can learn more about these 2 orders here.
After you’ve selected the type of order, set how much Bitcoin you want to spend and place the order. Check out this detailed video guide:
The best thing about Nicehash is you get to cancel the order whenever you want without losing your money. Nicehash will refund money for the amount of time not utilized.
Although Nicehash is one of the best ways to cloud mine Bitcoin Cash, fees can be quite high. You can check out their complete fee structure here.
MiningRigRentals is another hash power exchange that can be used to cloud mine Bitcoin Cash (BCH). To cloud mine Bitcoin Cash with MiningRigRentals:
- Register at MiningRigRentals.
- Deposit cryptocurrency to your wallet.
- Go to the marketplace.
- Select SHA-256 algorithm.
- Sort and find the best rig for your budget.
- Set how many hours you want to rent.
- Click rent.
- Add pool details.
- Click instant pay.
The best thing about MiningRigRentals is you get to cloud mine Bitcoin Cash with very little investment. There is no minimum order and the minimum withdrawal amount is very low. You can even start renting hash power with a few cents.
Before you start using MiningRigRentals, it is important to find the right pool to mine Bitcoin Cash. Check out the list of Bitcoin Cash pools here. If you are having a hard time using MiningRigRentals, check out this video tutorial:
Eobot is a cloud mining service based in the United States. It is one of the oldest cloud mining service providers. Eobot works differently to other services mentioned in this article.
To cloud mine Bitcoin Cash (BCH) all you need to do is buy a contract from them. As of now, Eobot has SHA-256 10 Year and 24-hour contracts. These contracts follow Bitcoin’s difficulty. What you are essentially doing is hashing SHA-256 and getting payouts in cryptocurrency of your choosing. So to cloud mine Bitcoin Cash (BCH):
- Register with Eobot.
- Deposit cryptocurrency to Eobot wallet.
- Click cloud mining.
- Click “Buy Using cryptocurrency”.
- Convert cryptocurrency to hash power.
- Mine Bitcoin Cash (BCH)
What is nice about Eobot is that you can receive payouts in any of their supported coins. In this case, you want to receive in Bitcoin Cash (BCH). Anytime you deem mining contract is unprofitable, you can always convert hash power to Bitcoin Cash or any cryptocurrency.
With Eobot, there is no hardware maintenance or monitoring of your rig. Everything is handled by Eobot. Of course, this comes at a small fee. You can check out their fee structure here. Eobot is one of the few places to buy cloud mining contracts with very low investment.
How Much Can I Earn from Cloud Mining Bitcoin Cash (BCH)?
To calculate how much Bitcoin Cash (BCH) you are going to make, you can use a mining calculator. Both Eobot and Nicehash have their own mining calculator. Input the amount of hash power you want to buy and hit calculate. For other services, you can use WhatToMine calculators.
Bitcoin Cash (BCH) is undoubtedly one of the best cryptocurrency to invest right now. Mining or buying Bitcoin Cash is the easiest way to invest in Bitcoin Cash. For those newcomers into the crypto world, cloud mining still remains one of the easiest ways to get into cryptocurrency. Above are some of the best services to cloud mine Bitcoin Cash (BCH). Happy Mining!