Binance is by far the world’s most popular crypto exchange after being founded by Changpeng Zhao in 2017. The platform has enjoyed a long period in the sun, attracting 90 million registered users and billions of dollars in daily trading volume.
The Binance exchange is reno wned for its long list of features, and true to form, the developers introduced a cloud mining setup in 2022 for platform users to easily access. Binance isn’t necessarily a beginner-friendly exchange, but it is highly regarded in the industry for being trustworthy and providing reputable services. This can give newcomers joining a Bitcoin cloud mining pool confidence that their hard-earned crypto will be safe.
For now, Binance’s cloud mining service only supports pre-paid, set-duration plans to mine BTC. Most of these plans are usually 3 or 6 months long. The team is continually adding new products though, and in the future, Binance will likely include other Proof-of-Work digital currencies too.
In terms of costs, Binance offers fixed-rate fees, which vary depending on the current plan. The hash rate fee is typically set at around USD $0.012 per day, while the electricity fee is approximately USD $0.0531 per day.
On the flip side, Binance’s cloud mining pool has historically returned USD $0.0819 per day, leading to a revenue rate of 140%. We can break the numbers down even further if we assume an investor has selected a 90-day plan:
Hashrate Fee: $1.08
Electricity Fee: $4.78
Total Projected Income $7.37
Overall Profit: $1.50
Of course, investors can purchase substantially more hash power than used in this example to magnify their potential profits. However, it’s important to remember this data is historical and can change at any time. Bitcoin cloud mining may not be profitable at all if the price of BTC drops substantially, or if Binance changes its fee structure. Additionally, Binance charges a 1.5% management fee and a 2.5% cloud mining fee, totaling a 4% fee. Read stormgain review
Conclusion
Finally we will conclude our binance cloud mining pool review by tilling you to to start mining with them. Binance mining is legit and reliable to invest with. However if you face or facing any challenges, please let us know. Before writing this binance review we contacted them and make sure we will not get disappointment. More-so we have active account with everyday withdrawal. If you feel the mining firm in not safe, please go for AIprofit.us But before investing please read reviews about Hashing24 and Ecos mining. They are also cloud mining firm we have reviewed
