MyCoinCloud

MyCoinCloud

Expert Rating (3/5)

Features

Features

  • 24/7 support
  • Data centers available 99.9%
  • Best market prices
  • Low maintenance fee and electricity cost
  • Guaranteed returns on investment

Overview

MyCoinCloud is a cloud mining company that is located in Sofia, the capital of Bulgaria. Launched in 2015 by a team of cryptocurrency experts, the company operates under the belief that it is possible to make cryptocurrency mining profitable and affordable for anybody interested in cryptocurrencies. The company wants to contribute to the development of the cryptocurrency industry on a large scale. It is also working for the adoption of Bitcoin as an economic system as well as a currency.

How Things Work at MyCoinCloud

Once miners have registered an account at MyCoinCloud, they might like to subscribe for the company’s newsletter so that they never miss news of new mining contracts. MyCoinCloud has plenty of promo offers and its users can get great deals if only they keep their eyes open.

You have the option of mining cryptocurrencies such as Ethereum, Bitcoin, and others using traditional methods. If you choose to do so, you have to invest a lot of money in the required hardware. You also need to have the required technology knowledge and expertise to establish and maintain a cryptocurrency mining rig. You will also run into huge electricity bills because you have to keep your mining in a well-ventilated place and implement the proper cooling technology.

MyCoinCloud can save you all this bother because it sets up mining rigs and maintains them for you. The company owns well-equipped facilities for placing and maintaining mining rigs. To use these services, you only have to register an account at MyCoinCloud, select a mining contract, start mining cryptocurrencies, and receive regular payouts. The business is fully transparent as you can review all your transactions on your account page. You also don’t have to bother about technical issues as MyCoinCloud takes care of everything for you.

MyCoinCloud is the owner of two data centers, which it has constructed for the exclusive purpose of mining cryptocurrencies. The company has been offering mining contracts ever since 2015. Customers are satisifed with the services and have given a lot of positive feedback.

Contracts

You can choose from the following contracts at MyCoinCloud:

  • Lifetime BTC
  • Lifetime ETH
  • Lifetime ZEC
  • Lifetime BCC
  • Lifetime ETC
  • Lifetime XMR
  • Lifetime LTC

Lifetime BTC comes with 24/7 support, $0.10 for Kw/h, and $0.003 per month as Gh service fees. All the other plans feature $0.10 for Kw/h along with 7% of the profits deducted as maintenance fees.

The term “lifetime” indicates that the contract duration is not fixed. The contracts remain active till they are profitable. When the contract can no longer pay its electricity bills for more than 14 days, it will be cancelled. All the above contracts come with the following features:

  • Most power efficient and latest miners
  • One-time payment
  • Full accounting
  • No extra fees
  • Payouts are credited every week to customers’ wallets

Co-Location Services

MyCoinCloud also offers a brand new type of service called co-location. Those who avail of this service do not have to keep their noisy, electricity-consuming miners in their offices or homes. Instead, they can co-locate the machines to one of MyCoinCloud’s mining farms. If they take this option, they no longer have to bother about power failure, lost Internet connection, overheating, and noise. MyCoinCloud’s support team, which works round the clock, will do everything in its power to minimize miner downtime and maximize mining profits. Since co-location is a service that needs to be customized as per individual requirement, you must first contact a customer care representative and discuss your requirements with him/her.

Fees

Since MyCoinCloud provides a platform with mining hardware that enables people to mine cryptocurrencies, it charges electricity and maintenance fees. The exact amount depends on the energy consumed and maintenance costs.

Here is a list of the various fees you can expect as soon as you have purchased a contract from MyCoinCloud:

  • Monthly electricity fee is a fixed $0.10 per kW/h.
  • Monthly maintenance fee is a fixed $1 per TH/S for lifetime BTC contracts
  • Monthly maintenance fee for lifetime non-BTC contracts is not fixed
  • No monthly maintenance fees for BTC contracts that extend into three months.

MyCoinCloud does not refund the fees. Moreover, it reserves the right to change the fees without giving any notice to registered customers.

The company issues all invoices in US Dollars. Customers can purchase contracts using a wide range of payment methods such as Bitcoin, PayPal, and others.

Security and Privacy

MyCoinCloud gives top security to customer security and privacy, which is why it has a sound privacy policy. According to the terms of this policy, the company does not reveal customer details to third parties until and unless required by the law to do so.

The company also takes security issues seriously and uses the latest encryption technology to protect player details as they are transferred online.

Customer Support

If customers do not find the information they are looking for on the MyCoinCloud website and its Knowledgebase, they can contact a customer support representative by clicking on the Contact Us link. Unfortunately, MyCoinCloud has restricted access to its Contact page. Only those who have registered an account at MyCoinCloud can submit a trouble ticket at the website.

Customers can also send an email to support@mycoincloud.com to get a quick response.

Conclusion

To conclude, MyCoinCloud is definitely not a scam or a Ponzi scheme as several people use it and are satisfied with its service. So far, nobody has complained. On the other hand, the cloud mining service has received plenty of positive reviews from its customers.

AuthorDavid Nugent

David is a forex trader and writer who has spent the last few years giving his opinion and spreading news about oncoming markets and trading tips. Besides from being a trader he is also a lifelong Everton fan and enjoys spending free time watching his beloved team in the premier league.

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