Cheap way to buy Ethereum

[ajcrshr]

Can someone please explain cloud mining for ETH to me? Genesis, for example, sells mining packages --2 years for $ xxx depending on MH/S--- I am not understanding how this works---- I pay $50.00 for 24 months and run a cloud based crypto mining operation?? something seems weird to me about this.

I can understanding buying/selling it for speculation , but cloud based mining? Why don't they just mine it themselves rather than sell subscriptions to the equipment--- is anyone doing this here-- ?


Can someone please fill in an old guy on this newfangled stuff? It looks legit, but obviously I am not understanding the business.

https://www.genesis-mining.com/dashboard

thanks!

Don't ever buy mining contracts period, you are better off buying the coin outright every time. Unless of course you think mining efficiency will go down lol
Investing in mining hardware is another story since you have a depreciable asset with residual value.

 

[Quaratineuk]

I am thinking of buying a few ETH coins for long-term investments what's the views on this?

Around £69.00 a coin atm via coinbase.