How to Cloud Mine Bitcoin SV (BSV)

How to Cloud Mine Bitcoin SV (BSV)

Bitcoin SV (Bitcoin Satoshi Vision) was born as a result of a hard fork in Bitcoin Cash blockchain. It aims to bring the values of the original Bitcoin. Craig Wright is the chain leader of Bitcoin SV, who claims to be Satoshi Nakamoto. Since its birth, Bitcoin SV has grown to become one of the top cryptocurrencies in terms of market cap.

If you want to own some Bitcoin SV (BSV), the quickest way to do it is to buy from a cryptocurrency exchange. Binance is one of the best places to buy BSV with fiat. But, if you wish to cloud mine Bitcoin SV (BSV) instead, there are few ways to do it. This is how you cloud mine Bitcoin SV:

Cloud Mine Bitcoin SV (BSV) at Nicehash

Nicehash has over 40 mining algorithms to choose from. Since we want to mine Bitcoin SV, you must buy SHA-256 hashing power. Go to live marketplace and choose SHA-256 algorithm.

Cloud Mine Bitcoin SV (BSV) at Nicehash
Nicehash SHA-256 Marketplace

You will see two types of orders, the Fixed order, and Standard order. If you want to get a constant hash rate throughout the orders lifetime, select fixed order. The standard order is suited for those who want to bid for a price. You can bid as low as possible but if someone outbids you, your order will be paused until you become the highest bidder. This type of order cannot guarantee constant hash rate.

If you are new to Nicehash or haven’t bought hash power before, I would suggest you place a fixed order. But really, both type of orders will work fine for cloud mining Bitcoin SV (BSV).

Whichever option you choose, you will be proceeded to enter pool details. This is the most important part when buying hash power.

There are so many Bitcoin SV mining pools available today. These are some of the best ones:

Signup to one of these pools and create a worker. It is quite simple to do and every pool has detailed instructions on how to do it. Depending on the pool, the process of creating a worker can be different. Some pools require you to add wallet address for the username, while other pools allow you to make manual withdrawals to wallets, once the payout is received to your account.

Once you have successfully created a worker, you need to enter these details on Nicehash. You are required to provide:

  • Pool URL & Port
  • Username & Password

If you are not sure about these details, you can use Nicehash’s pool verifier to test it. Once you verify details, go ahead and place the order. Cloud mining will start immediately. Head over to your pool account and refresh the page. You will see the hash power you will be contributing to the network.

Depending on the pool, Bitcoin SV mining rewards will be sent to your account on various time intervals. Once the Nicehash order is complete, you can withdraw all Bitcoin SV (BSV) earnings from your pool account to your wallet.

If you are still confused about using Nicehash, check out this video guide to using Nicehash:

Cloud Mine Bitcoin SV (BSV) at MiningRigRentals

MiningRigRentals is a service where you can rent mining rigs. You are renting mining rigs directly from rig owners. Unlike Nicehash, you cannot set how much hash power you want to buy. When you rent a mining rig at MiningRigRentals, the hash power of the mining rig is available to you entirely, until the order expires.

To cloud mine Bitcoin SV (BSV), you must rent one of SHA-256 rigs and allocate that hash power to mine Bitcoin SV (BSV).

How much you will be paying for using a mining rig is determined by the rig owner. To cloud mine Bitcoin SV, signup to MiningRigRentals and deposit Bitcoin to your account.

Go to rig marketplace and select SHA-256 algorithm. You will see all SHA-256 mining rigs available to rent. The hash rate of the mining rig will be displayed next to the mining rig. Sort through all mining rigs and select the best mining rig that suits your budget.

Cloud Mine Bitcoin SV (BSV) at MiningRigRentals
Rent a Mining Rig at MiningRigRentals

Once you are ready, click rent. You will proceed to the page where you have to enter pool details.

If you haven’t signed up to a pool already, signup up to one of the pools below:

Create a worker at the pool and enter pool details on MiningRigRentals. Then, click on instant pay. Mining will start immediately. Head over to the pool and refresh the account dashboard. You will see your worker actively mining in the pool.

If the mining rig you have rented goes offline or hash rate is lower than advertised hash rate, you can request a refund. Create a support ticket at MiningRigRentals and ask them to refund the hash power that was not utilized.

If you are still unclear on renting mining rigs at MiningRigRentals, check out this video tutorial:

How Much Can I Make Cloud Mining Bitcoin SV (BSV)?

Okay, now that you know how to cloud mine Bitcoin SV using Nicehash and MiningRigRentals, your next question may be, “How Much Bitcoin SV (BSV) will I make?”.

To calculate how much Bitcoin SV (BSV) you are going to earn, use a mining calculator. You can use WhatToMine Bitcoin SV calculator.

Enter hash power you have bought from Nicehash or the hash power of the mining rig you have rented at MiningRigRentals on the hash power field in the calculator.

You do not have any electricity cost, so the “Power” and “Cost” fields should be left blank. If the pool you are mining at has fees, enter it on the calculator. The difficulty, Exchange Rate, and BTC Value is filled for you automatically. The “Hardware Cost” filed should also be left black. There is no hardware cost associated with cloud mining, Although, the amount you have spent on buying hash power or renting a mining rig can be considered as the hardware cost.

Once you enter all details, hit calculate. You will see a breakdown of estimated Bitcoin SV (BSV) mining rewards:

How Much Can I Make Cloud Mining Bitcoin SV (BSV)?
Click to enlarge

Is Cloud Mining Bitcoin SV (BSV) Profitable?

If you rent a mining rig at MiningRigRentals or bought hash power from Nicehash, you will find that amount you have earned from mining is always lower than the amount you have spent on these services. This is because, owners of mining rigs, sell hash power at a rate higher than if they had mined themselves. If mining is more profitable, they wouldn’t be selling hash power.

This is bad news for the buyer of hash power. But it does not mean cloud mining Bitcoin SV (BSV) is not profitable. One way, the buyer profits is if the price of Bitcoin SV (BSV) appreciates in the future. If the value of Bitcoin SV (BSV) continue to increase, eventually, the buyer will have more money than the amount he has spent. To learn all the ways you can profit as a buyer of hash power, check here.

Conclusion

If you want to own Bitcoin SV (BSV), the easiest way to do it is to buy some from a cryptocurrency exchange. Alternatively, you can cloud mine Bitcoin SV (BSV). Nicehash and MiningRigRentals are some of the best services to cloud mine Bitcoin SV (BSV).

Spread the love