Article Details

Summary

Setting up a Bitcoin mining facility is a capital-intensive venture. Considering electricity and instrument costs, running a functional Bitcoin mining rig could cost more than the everyday Bitcoin enthusiast can afford. If you wish to earn passive income by running a Bitcoin mine, managed mining services may be the best option for you. Also, hosted mining services are more regulatory compliant, depending on your region.

ECOS offers Cloud and hosted mining services for Bitcoin Enthusiasts. In this article, we review the ECOS platform and what it offers to Bitcoin Enthusiasts.

What is ECOS?

ECOS is a Bitcoin mining service platform offering a collection of managed crypto mining products. Products offered include Bitcoin mining pool, cloud mining, and ASIC equipment rental and retail. ECOS aims to support the Bitcoin blockchain and miners by lowering the barrier to running a functional node, and strengthen the Bitcoin blockchain’s decentralization by making it easier for anyone to join the mining network.

According to ECOS, it has paid over $250 million in mining earnings to over 900,000 active users. It runs a data center valued at over $50 million and controls over 200MW in mining energy.

Brief overview of how ECOS works

The ECOS platform was founded in 2017 and registered in Armenia, where it operated a data center powered by thermal power. This facility champions the platform’s operation, housing the mining equipment and management operations. ECOS’ thermal plant sources electrical energy through environmentally friendly means, allowing Bitcoin enthusiasts to mine Bitcoin without necessarily setting up a Bitcoin mine. From a wide range of services, users can choose an option that fits their finances and risk tolerance. ECOS handles the bulk of the operation while users earn daily or weekly from these services.

ECOS offers an intuitive dashboard where users can manage their investments on the platform. The ECOS mobile application also enables users to manage their profiles while on the go. The mobile application is available for Android and iOS devices.

How to Set up your account on ECOS

To set up your ECOS account

1. Visit the ECOS platform.
2. Click Sign Up from the top right corner to continue.
3. Enter your email, review and accept usage terms, and click Continue to proceed
4. Enter the confirmation code sent to your email and continue
5. Set your account password to complete
6. Your account is now ready  , To fund your account :
7. Navigate to the main dashboard,
8. Click +BTC or +$ from your Total balance to obtain your deposit address.
9. Deposit the appropriate funds into the account to complete.

ECOS mining services

Here are the services offered on the ECOS platform;

BTC mining pool

ECOS runs a Bitcoin mining pool. The pool enables users to contribute their computing power and mine Bitcoin. Earnings from the pool are distributed to miners according to their percentage contributions to the total computing power.

How to Join the ECOS Bitcoin Mining Pool

To join the Bitcoin mining pool;

1. Click, Create your own vault from the Main Dashboard section of your ECOS account
2. Set your mining parameters
3. Click Review and confirm to complete

BTC Cloud Mining

ECOS Cloud mining is a mining-as-a-service feature on the ECOS platform. It allows users to remotely rent computing power from the ECOS data center to mine Bitcoin. Users can invest as low as $150 in the hosting service and earn regular passive income.

How to start BTC Cloud Mining on ECOS ?

To start Cloud mining on ECOS;

1. Navigate to the Buy Cloud section on your ECOS account to set up cloud mining.
2. Set up your cloud mining parameters and click Start Mining to complete

ASIC Hosting Services

ECOS also offers rental services for ASIC miners. You can rent a range of miners for specified periods on the ECOS platform. Each miner offers varying profitability. ECOS will manage the rented miner while you cover electricity and management fees and earn income in BTC. 

Renting and Hosting an ASIC mining equipment on ECOS

To rent an ASIC miner on ECOS;

1. Navigate to Rent ASIC on your ECOS dashboard
2. Scroll through available options and select an available miner to rent
3. Enter the amount you wish to rent and click Rent to continue

Enter your payment details at checkout and click Buy Now to rent.

Retail for ASIC equipment

ECOS sells and purchases ASIC equipment. On the platform, you can place orders for genuine ASIC mining equipment and have it delivered to your location. ECOS handles the logistics and sorting of quality mining tools.

Miscellaneous products

In addition to the cloud mining and ASIC rental services, ECOS also offers additional services like a portfolio wallet, where users can manage and spend crypto assets. You can also experiment with the platform’s services and offers using the demo account.

Pros And Cons of ECOS

Here are some of the pros and cons of using the ECOS platform for Bitcoin mining.

Conclusion

ECOS offers a simpler way to earn from running a Bitcoin mine. It traverses regulatory restrictions and reduces the capital barrier to Bitcoin mining. With as little as $150, you can start earning passively from Bitcoin mining and also contributing to the security layer of the Bitcoin network. ECOS offers a range of services, some of which we discussed in this article. Review these services and select one that fits your strategy and budget. We also discussed some pros and cons. We recommend that readers take note of these cons as part of their investment planning. Regardless, we advise precautionary measures while investing in or interacting with the platform.

Disclaimer: This article is a review of the ECOS platform. It does not offer financial advice nor endorse the featured project. Note that crypto investments carry significant risks.

Joel is a crypto content writer at CoinGape. He is a Technical and Content Writer with an in-depth knowledge of web3 and self-custody solutions, Fintech, and advanced computing.
Joel has over 8 years of experience in creating content around blockchain technology and financial solutions.

He has a long history of working with top crypto projects and writing for notable media, including Coingecko and CoinInsight. He has also held advisory positions in several startups and contributed to many successful launches. In his free time, he enjoys multiple sports and Comedy Sitcoms.