I have been using Stormgain's free cloud miner for some time, and initially was very confused as to how it could create profit for me, especially when the withdrawals from the miner land in your account as Tether and not BTC.

I am writing this post to help others who might have been in this situation.

If you do not yet have a Stormgain account, please consider using my referral link. It is worth getting an account for their miner alone, but they also run aggressive promotions akin to Blockfi. 

The Free Cloud Miner

As soon as you've got an account you can start to use the cloud miner, which looks like the image above.

It will mine around 10000 satoshi every four hours, and you'll need to amass 10 dollars worth before you can withdraw.

Of course, with the price increasing, you will reach the withdrawal threshold faster than before so it is a great time to hop on and use it.

Your Withdrawals

Unfortunately, a fact that is unclear in Stormgain's marketing is that your withdrawals will not be in BTC but rather in USDT (Tether) which admittedly they have made more clear once you're on the miner itself.

Once you have saved up enough, which shouldn't take very long if you remember to activate it every 4 hours combined with the increases in the price in BTC you can withdraw it into your Tether wallet, which can take around 72 hours but hopefully less than that. 

How to Profit through Trading

Something else that is unclear in Stormgain's marketing is that your Tether is not real, active Tether, but a "bonus" amount that you must trade to create profit that you can then withdraw or exchange for real cryptocurrency.

The good news is, this is possible and with the current volatility of the market totally achievable. 

Here is a screenshot of two recent trades of mine - I exchanged the profit for BTC and will continue to do so until I have enough to withdraw to my coinbase account.

I achieved these profits by placing a bet on the entire market - an index - rather than any particular coin and rapidly reached my Take Profit goals.

Of course, the higher amount of free tether you have, the higher your potential profits can be.

I have lost roughly as much as i have gained, but the mining results cost nothing, so I am very happy with these results.

As Stormgain has a high withdrawal fee, I may boost the amount in my BTC wallet with Coinpot and Cointiply earnings. 

I hope this guide to Stormgain's free cloud miner has been useful to you.

Many thanks,

Schlixxxxxx