Welcome to my IQ Mining review!
If you’re looking to start making money online but don’t know would cloud mining work for you, then this post is for you.
First things first, I’m really happy for you that you’re willing to do your own research before joining any program as there are way too many online scams that can waste you a ton of time and money.
And this is the only way to stay away from scams and find the legitimate way to make money online!
Let me be completely honest with you, I’m not associated with IQ Mining in any form so I’m not here to sell anything to you.
So, if you’re doing research about is IQ Mining a scam or legit, rest assured that this is the right place.
In this review, I’m going to be giving you a thorough breakdown of IQ Mining and whether you should join this program.
Product Name: IQ Mining
Price: Free to Join
Overall Rank: 30 out of 100
IQ Mining Overview
IQ Mining is a smart cloud mining platform established in 2016 that enable users to start mining cryptocurrencies without managing any mining hardware.
As shown in their website, IQ Mining has a total of 218635 clients and has given out more than 118 MILLION total payouts in USD, which is pretty impressive considering it’s only been on the market for 3 years.
Let’s take a look at this short video explaining the to learn everything you need to know about IQ company…
What is Cloud Mining?
Cloud mining is a way to mine cryptocurrencies like bitcoin without having to maintain your own mining hardware.
To start cloud mining, you can simply register an account at companies like IQ Mining and participate in the cloud mining process with a low cost (the mining plan fee).
Simply put, you will be buying a certain amount of hash rate, which is the speed of the processing power of the computer operating in the cryptocurrency code.
When a bitcoin block was mined, the block rewards (profits) will be shared to each participant within the mining pool according to the proportion of hash rate they own. In other words, the greater your hash rate are, the more cryptocurrency you’ll be able to mine.
Another way to earn bitcoin is to start individual mining, a process of purchasing and operating your own mining hardware without joining a mining pool.
In this way, the chance of finding “blocks” and earn bitcoins is much more smaller than cloud mining, but you can foresee a higher earning potential because you don’t need to share the credit with others.
However, you may have to deal with a number of problems that are not required for cloud mining, including:
- Time to get the equipment started
- Monitor the equipment 24 / 7 to ensure it’s performance
- Cost of electrical energy
- Maintenance fee of the equipment
- Noise and excessive heat produced by the equipment
- Technical expertise needed to maintain the machines’ performance.
- And more…
So if you are planning to start cryptocurrency mining but don’t want to cope with these problems, cloud mining seems to be a better option.
IQ Mining Support
If you have any questions along the way, you can either check out their FAQ section or simply contact their 24 / 7 live chat customer support via their website.
IQ Mining Price
IQ Mining offers 5 types of contracts enabling users to earn up to 6 crypto coins, including Bitcoin, Ethereum, Litecoin, Monero, Dash, and Zcash.
1. Tether (USDT) Contract (a guaranteed income up to 125% per annum) = USD $0.102 per 1 GH / s
Apart from the USDT contract, which offers only 1 year contract, the others will all provide 1 year, 2 year, 5 year, and lifetime contract.
2. SHA – 256 Contract = USD $0.086 per 10 GH / s
3. SHA – 256 PRO Contract = USD $0.117 per 10 GH / s
4. SHA – 256 BCH Contract = USD $0.117 per 10 GH / s
5. Ethereum Contract = USD $0.297 per 0.1 MH / s
As you can see, there will be payout forcast and calculator showing you expected income you could earn for different time span, but it won’t be able to show your earnings accurately because it doesn’t include resell of altcoins as well as maintenance fee.
On top of that, there are 4 different ranks for your account according to the cost of your earning, the requirement for different contracts will also vary:
In addition to earning bitcoins, you have a chance to win monthly prizes through the “Monthly Giveaway”.
You are allowed to participate in the giveaway as long as you’ve purchased more than $100 mining contract.
With the IQ Mining Referral Program, you can now get 10% hash rate back from all your
referred clients purchases. People are counted as your referral provided that they register an account at IQ Mining using your referral link.
The Good & the Bad
1. 24 / 7 Live Chat Support
Unlike most cloud mining companies, IQ Mining provides a 24 / 7 live support service so you can contact their support team whenever you’re stuck.
2. Daily Payouts
Mining pools will deposit earnings to your wallet on a daily basis, allowing you to receive mining payouts directly to your account’s balance. Apart from maintenance fee, IQ Mining will not charge any additional fee so you’ll be receiving fixed payouts in Bitcoin.
1. Higher Risk Than Other Mining Services
Although altcoins mining offers higher mining returns, their rapid prices fluctuation on exchanges could easily reduce your income considerably.
2. Crypto coins Are Instable
When it comes to bitcoin investment, your earnings will always depend on the market capitalization of bitcoin and the difficulty of mining. However, both of them are basically unpredictable and so you may end up losing substantial money at once.
3. Low Earning Potential
If you are looking to earn money instantly, IQ Mining would probably be a great choice for you. However, with the growing number of mining pools and miners, bitcoin mining has become an extremely competitive industry and you simply cannot earn a considerable amount of money with cloud mining anymore.
Who is IQ Mining for?
IQ Mining is best for ANYONE who wants to earn side income through cloud mining without managing their own mining hardware.
But if you are looking for a legitimate way to earn a full-time income online from home, then you may want to start affiliate marketing.
What is Affiliate Marketing?
Affiliate marketing is the process by which an affiliate promote another person’s or company’s products and earn a certain amount of commissions (1% – 75%) when someone makes a purchase via your affiliate link.
Here’s a simple diagram explaining the 4-step process:
The reason why affiliate marketing is so popular is that once your website get ranked on social media like Google, it will start driving sales and generating significant revenue even while you sleep.
Not just that, there’s only 2 components must be involved in order to make this process works:
1. Internet access
2. A free website
If you’re new to online marketing, make sure to check out this post to learn how to create your very first website FOR FREE.
Still, if you are looking for an INSTANT REWARD from your efforts, then affiliate marketing is probably not for you because the time and energy you put forth now, normally pays off MONTHS from now.
So if you’re starting affiliate marketing just because you think it can help you get rich quick, you’re just going to set yourself up for disappointment.
IQ Mining at a Glance
Product Name: IQ Mining
Price: Free to Join
Overall Rank: 30 out of 100
Is IQ Mining a Scam?
No, IQ Mining is a trusted smart mining company that can help you make extra passive income at home. But the rapid fluctuations in cryptocurrencies’ prices along with the degree of earning potential truly prevent me from trying it.
Therefore, if someone asks me what is the best way to earn money online with only a little risk, my advice is to start affiliate marketing.
Want to learn affiliate marketing but don’t know where to start? Check out this free course where you’ll be taught step-by-step how to set up your online business from scratch.