As the complexity and difficulty associated with cryptocurrency mining increases, so too does the popularity of cryptocurrency mining pools and cloud mining services. In the early days of cryptocurrency it was possible to mine with a single powerful GPU, which is now no longer possible.
Depending on the coin that is being mined, cryptocurrency mining can require a significant amount of processing power, or, in the case of Bitcoin, dedicated mining hardware. As a result, cryptocurrency miners have moved away from individual operations and are now combining together into “mining pools” in which both processing power and profits are shared.
Cloud mining takes this concept further, offering miners the ability to “rent” mining hardware from data centers. These solutions are now extremely common in the cryptocurrency mining ecosystem, and are typically provided by platforms that are located in geographic regions in which the low cost of electricity make them operationally viable, such as China.
It can be difficult, however, to identify a good investment when it comes to cloud mining platforms. There are now many scam platforms that claim to offer cloud mining services, but instead offer only Ponzi schemes, high yield investment programs, or straight-up fraud.
Eobot is a relatively long-term player in the cryptocurrency cloud mining environment, and has been providing a diverse range of cloud mining services since 2013. In this article, we’ll take a look at the Eobot platform and find out what it offers to help you determine whether it’s the right cloud mining platform for you.
What is Eobot?
Based in the United States, Eobot offers a wide range of services for cryptocurrency investors and miners. First and foremost, Eobot operates as a real-time exchange that facilitates the trade of a broad spectrum of different cryptos, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Ripple, Dash, Golem, BitShares, CureCoin, NEM, Monero, Zcash, Factom, Bytecoin, STEEM, Lisk, MaidSafeCoin, USD, Gridcoin, and Ethereum Classic.
The Eobot platforma also offers cloud mining and Bitcoin mining in an extremely straightforward and simple manner. Eobot boasts more than 1,372,796 users, and offers a diverse selection of payment options.
The first and most popular service offered by Eobot is their Bitcoin cloud mining service. Eobot Bitcoin cloud mining completely eliminates the need for dedicated mining hardware, and instead offers miners the ability to let Eobot mine for them in the cloud.
The Eobot platform offers immediate Bitcoin cloud mining results with updates every 60 seconds, and makes it possible for users to invest in fractions of cloud instances. Payout on Eobot Bitcoin cloud mining services can be displayed in any cryptocurrency, and offers rental terms that range from 24 hours to 5 years.
Eobot Cloud mining delivers 1.0 GHS per 1.0 cloud instance owned, and is subject to an electricity and maintenance fee.
One of the more interesting services provided by Eobot is their Cloud SETI service. Eobot make it possible for users to leverage the vast processing power of the Eobot platform to assist in the search for extraterrestrial life by combing through vast amounts of radio telescope data.
Eobot charge absolutely no electricity or maintenance fees for Cloud SETI services, which are purchased with BOINC Points Per Day. Users that participate in Cloud SETI services are provided with Grid Coins, but as participating in SETI is a largely charitable action, Eobot warns that users shouldn’t expect received Grid Coins to pay for their investment.
In a similar manner to Cloud SETI, Eobot also provides users with the ability to donate processing power to Folding at Home. Popularized by its inclusion in first and second generation PS3 consoles, folding at home assists with medical research by running research software on the powerful Eobot data center hardware.
In return for their participation in the Folding at Home project, users are provided with Cure Coins. The Folding at Home project is currently studying Alzheimer's, Huntington's, Parkinson's, and different types of cancer.
Eobot also offers “MyPool”, which makes it possible for miners to rent a cloud miner and mine directly to their own pool or workerID. This process allows users to mine coins that aren’t supported by the Eobot platform, but is only able to convert GHS/MHS and has a 24 hour activation period.
Lastly, Eobot also offers a faucet that provides users with free Bitcoin, Dogecoin, and other cryptos on a daily basis. Eobot also offers comprehensive API documentation that delivers fast, free, and unlimited use.
The Eobot Verdict
Eobot is one of the most reputable and popular cloud mining platforms online, and presents clear, understandable pricing. The results provided by Eobot are wholly transparent, and when combined with the opportunity to donate clock cycles to charitable projects such as SETI and Folding at Home make Eobot a solid choice as a cloud mining provider.