I am aware that there are many sources and forums where you can read a lot about different experiences on cloud mining, however I decided to give you my direct insights on how did it work for me (so far).
As you might already know, I am mining Ethereum in my office, pushing some 300 MH/s with three rigs. Why did I decided to try Cloud Mining? Firstly, I heard a lot of good things about it. Secondly, I simply can't push too much power. Where I live, we have limits of some 1600 kw in so called blue zone of consumption. After 1600 kWh, we are being charged 2 times the price that we pay up to 1600 kWh per month. I am currently at some 1500 kWh so I can't add more cards and that was one of the main reasons I decided to try cloud mining.
Other reason was that I wanted to diversify. Simply not put all eggs in one basket, and try Bitcoin too.
After reviewing several cloud mining companies, I decided to go with Hashflare as they seemed the best deal at the moment. I was looking at several cloud mining companies, namely Sun Mining, Genesis Mining and Hashflare. I went for Hasflare as they appeared to give me the best pre sale support, and I knew somebody who already used them. Genesis looked quite good too, however their contract were all sold out. As for Sun Mining, they also looked serious, however I really had little to almost no info from people who used them.
So I decided on Hashflare.
Purchase of my first cloud mining contract
On 10.01.2018 I purchased my first two mining contracts. I decided to start with 10TH, which is a little less than the output of one Bitmain S9 miner (they usually do 13-14TH). So I made two deposits, intentionally I wanted to see how both BTC and credit card transfers went. Here is the screenshot:
As you can see, I deposited 1,540.00 USD via BTC transfer (all went smoothly) and other was 660.00 USD via credit card. The second transfer had to be verified on each new credit card. This verification is done just once and is fairly simple and easy process. They make the charge of full amount from your credit card, and when they do it you will have to either check your bank statement online or call your bank. You will see four numbers beside the charge which are used for verification. After you enter those four numbers in verification field, your payment will be confirmed and your contract will become active.
UPDATE 19 November 2018: Ok, If you are not aware, here is the latest on HashFlare. I can only say that I removed all endorsement of HashFlare from my site ->> Read the details on Hashflare here