How To Make $50 A Day Passive Income On Shamining

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How To Make $50 A Day Passive Income On Shamining

The Genesis of Cloud Mining

For a long time, crypto mining has been a viable means crypto investors earn passive income.

Previously, owning a mining hardware was the only way to mine Bitcoin.

Running a mining hardware or rig is noisy, expensive to maintain, and consumes lots of power.

Owning one required a huge upfront capital outlay to get started, with the associated monthly power costs of running one profitability.

Crypto mining was then reserved for a privileged few which somehow created a monopoly and put monies in the pockets of a few miners that could run their rigs profitably.    

For this reason, a few investors floated companies that would allow smaller investors to have the same opportunity to mine crypto without having to purchase or build their own mining rigs.

The idea was to mine crypto virtually without having to see or own a physical miner and so, this was how cloud mining was introduced.

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Cloud mining became a passive alternative to active crypto trading which by far is less risker than trading. Earnings from crypto mining are straightforward to calculate and could be easily predicted all things being equal.

Key Takeaways

 πŸ“Œ Shamining is a legit cloud mining platforms based in the UK but serves a large number of investors globally.

πŸ“Œ The minimum start up mining capital for renting a miner on Shamining is $150.

 πŸ“Œ You can make $50 daily and much more on Shamining buy increasing the number of miners.

 πŸ“Œ There are three methods of payment for renting miners, debit/credit card, a crypto exchange, or bitcoin.

 πŸ“Œ The higher your mining power on the Shamining platform, the higher the amount of income you stand to make daily and even monthly.

Getting Started with Shamining

Shamining is a private limited company founded in 2018.

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The cloud mining company was incorporated under the Companies Act 1985 in the UK. Its registered office is 85 Great Portland Street London UK.

The team is led by Authur Harvey who is the CEO and supported by a team of experts that had kept the company afloat through the turbulent periods of Bitcoin mining.

Shamining is a mine bitcoin-only platform at the moment.

At Shamining, investors, irrespective of their experience, can mine only bitcoin at a lower cost than if they owned their mining equipment.

Its interactive platform allows you to set its investment sum slider and simultaneously see what your earnings will be on a daily, monthly and annual basis.

For illustration, I will use the Shamining cloud mining site.

How To Make $50 A Day Passive Income On Shamining

The platform has a minimum deposit of $150 with 24/7 fast payouts and over 70,000 investors.

As a prospective miner, you get to choose the mining contract you wish to work with, which comes with different mining power and prices (per 1 GH/S), be it a GPU miner’s contract, an ASIC miner’s contract, or an individual miner’s contract.

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Here is an overview of my dashboard with active bitcoin miners .

How to Earn $50 a Day Mining Bitcoin on Shamining

If you want to earn $50 a day from mining bitcoin on shamining, you will have to follow the steps below:

Step 1: Open your browser and head on to the Shamining website.

How To Make $50 A Day Passive Income On Shamining

Get a 37% Bonus to Boost Earnings

Take advantage of the 37% bonus to boost your earnings.

Shamining

Step 2: Sign up for an account and verify your identity, or log in if you already have one.

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How To Make $50 A Day Passive Income On Shamining

Step 3: After creating an account, you will be asked to log in, and after that, you will be directed to your dashboard.

How To Make $50 A Day Passive Income On Shamining

Step 4: You click on “Add Miner” in the top left corner of your dashboard. After clicking on that, you will see an image like the one shown below.

How To Make $50 A Day Passive Income On Shamining

Step 5: If you want to make $50 daily from mining bitcoin, what it means is that you will have to adjust the button shown at the bottom left of the image above till it gets to a daily income of $50.

Keep in mind that the more money you want to make every day, the more mining power you’ll need to use, and thus the more money you’ll need to invest.

So, for a daily income of $50, you will need to invest $8438 while using a mining power of 796061 GH/s, as can be seen from the image above.

You can also start with the minimum ($150) if you wish to try and see how it works.

Step 6: The next thing you will need to do is to click on “Buy“.

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How To Make $50 A Day Passive Income On Shamining

Step 7: After you have clicked “Buy,” you will be directed to payment under “Account” in your dashboard. There, you can choose to pay by card, exchange, or bitcoin.

How To Make $50 A Day Passive Income On Shamining

If you wish to pay by card, Visa Card and MasterCard are two debit cards you can use to do so.

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Moving on, you will be asked to provide your card details, such as your card number, full name, expiry date, and CVC, as shown in the image above. After you have filled up the details, you click on “Pay Now.”

Once you click on “Pay Now,” your rented miner will automatically begin to mine bitcoin and your mining contract will activate immediately after that, which means you start making profits on the spot.

Step 8: If you wish to pay through an exchange, there are three steps you would need to take, which are:

How To Make $50 A Day Passive Income On Shamining

You have to first copy your bitcoin address.

Secondly, open one of their partner websites, from the ones below:

1. https://ex-money.cc(QIWI)

2. https://ww-pay.com(QIWI)

3. https://payments.changelly.com

Lastly, fill out the form and complete the transfer of 22878596 BTC to your bitcoin address.

Note that you have less than 40 minutes to complete this particular transaction.

Step 9: If you wish to pay with bitcoin, all you have to do is to copy your bitcoin address or scan the QR code as shown in the image below.

How To Make $50 A Day Passive Income On Shamining

Then you fill out the form after scanning the QR code and complete the transfer of 0.22878596 BTC to your bitcoin address.

Once this is done, you have officially become a cloud miner on Shamining, and you can now relax and watch your rented miner mine bitcoin for you.

Note that if you have already made a payment but the payment status has not yet changed to “Transaction received,” do not close the transaction page as If you close the page, the bitcoin address will be assigned to another user and you will not receive your miner.

Payment Confirmation

After transferring bitcoin through any of the payment methods, it usually takes between 20 minutes – 2 hours for a bitcoin transaction to go through (this also depends on the congestion at the network).

To know the status of your transaction, you can use BlockCypher to check.

BlockCypher.com

For example, At the time I funded my account, I periodically had to check the status of my transaction. It usually starts from 1/6 at the early confirmation stage and concludes at 6/6.

Note that anything over 6 confirmation is irreversible and this means that the transaction is completed and should be at the other end (receiver).

BlockCypher.com does not only work for confirming Shamining transactions but for any other type of bitcoin transaction.

Blockchain.com is another tool used to check the status of your Bitcoin transaction.

Add Your Miner

After your payment is confirmed by Shamining, your miners will be automatically added to your dashboard as shown below.

How To Make $50 A Day Passive Income On Shamining

From the next 24 hours, you should start earning and seeing your income grow passively without much effort from your side.

One unique feature of the Shamining platform is that its payouts are instant, not requiring a minimum threshold or a certain fixed date of the month like other platforms.

Join Shamining and create another source of passive income.

Downsides of Cloud Mining

Now let’s talk a little about the downsides to cloud mining.

1. The downside to cloud mining is that you get to rent miners/plans for one year (no smaller duration plans).

2. The risk of the value of your mined rewards losing value due to a fall in the price of the mined crypto.

But, the trajectory of mineable cryptos since the advent of Bitcoin has been on the upward trend which makes it overall worth it.

The excluded cost of purchasing mining hardware is by far less risky and also reduces the barrier for first-time miners who just want to test the waters.

3. Another ill could be, signing up with a scammy platform and losing your money to cyber thieves.

Support

Support on shamining is via live chat or email. Their response is not as effective as I expected, but they sure do respond in a few hours. I believe this is where Shamining needs to improve.

The supported speed should be instant to enable clients to get quick answers to any issue they may have.

However, you can make use of the FAQ section on the website to get quick answers to any questions you might have.

Verdict

 I’ve not tried out lots of mining platforms, but I think, I’m satisfied with the results I’m getting on Shamining and think it’s a legit cloud mining platform to join if mining is something you have been considering.

Sign up on Shamining

Frequently Asked Questions and Answers (FAQs)

What is the easiest way to mine bitcoin?

Honestly, the easiest way to mine bitcoin will be through cloud mining. This is because all the mining equipment you need has already been provided for you.

All you have to do is to rent a miner and select a mining contract on cloud mining platforms such as Shamining, and you are good to go.

Is Shamining a legit platform?

Yes, Shamining is a popular and legit platform where you can mine bitcoin easily. Also, the steps to follow while on the platform are quite easy, so you have nothing to worry about.

SEE ALSO: Shamining Vs. IQ Mining (Best Comparison in Bitcoin Mining Plans)

SEE ALSO: How To Mine Bitcoin At Home With Shamining

SEE ALSO: 6 Factors that Will Affect Cloud Mining Income in 2022

Final Thoughts

In this article, I showed you how you can make $50 daily through bitcoin mining on Shamining, but it does not end there. Shamining offers much more as you can earn way more than that depending on how much you are willing to invest.

The platform is very user-friendly and the steps to take to start mining bitcoin on the platform are quite self-explanatory.

You can read through this article if you want to make $50 daily or use it as a guide to making way more than that while on the platform.

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