Cloud Mining What is it, what advantages and disadvantages, should Bitcoin and other cryptocurrencies be mined Cloud Mining No, and which company offers the most prestigious Cloud mining service currently. All will be in the following article of the Virtual Money Blog, follow along!
What is Cloud Mining
Cloud Mining (also known as cloud mining) is a Bitcoin mining technology that users will have to sign a contract with a mining company. Bitcoin, and this company will handle the process Bitcoin mining A to Z for that person, and the user needs to do is buy the hash power they provide in cash through a contract signed between the parties. Cloud Mining is one of the most used forms of Bitcoin, operating in parallel with Pool mining.
Cloud Mining technology was born really useful for people who do not have much knowledge and understanding in the field of virtual money, and do not have much free time, no digging techniques, but still want to invest in the field. this.
What is the nature of Cloud Mining?
Cloud Mining uses a criterion called Hashpower to calculate the price of its services. This criterion is used to calculate interest payments to tenants. Through this criterion, the level of investment is more or less. And it has two essences:
- It is a form of investment: There are many large mining centers in the world attached to real companies. They have huge capital and they use specialized hardware to mine coins. They thrive and stabilize but the market is always volatile. Only a small change of the market has a great influence on them. So to minimize risks, they allow people to invest in their systems. And they will pay back that investment. In case investors want to open a mining farm, but do not have capital, they can open an ICO or simply open a Cloud Mining site. At that time, the traditional form of Cloud Mining was born.
- It is a form of software: Those are friendly software. Lightweight, usable on many devices. It is different from mining software with mining rigs or specialized miners. Non-technical people can use it. They write a mining software, but they don't open farms and invest in mining hardware that allows people to use the software to mine coins. Mined profit will be partially distributed to miners. Miners must keep their mining equipment online continuously. Those are quality Cloud Mining sites .. Currently, there are Cloung Mining sites that use GH / s criteria and similar criteria to pay interest to investors, which are understood as Cloud Mining sites that have been degraded, Those sites are not safe to invest. Typically, HYIP often anonymizes Cloud Mining.
Advantages and disadvantages of Cloud Mining
When you use Cloud technology to mine Bitcoin, there are advantages and disadvantages.
- Advantages: The obvious advantage of Cloud Mining is that you don't have to worry about the costs of equipment or electricity.
- Disadvantages: It is difficult to control profit, your profit depends on the development of the company as well as the Bitcoin mining algorithm. You can be scammed if you don't choose the right mining companies.
Should Bitcoin be mined with Cloud Mining?
Mining Bitcoin with Pool Mining or Cloud Mining has its own advantages and disadvantages. However, if you have good financial ability, as well as large locations to accommodate massive mining machines and have the ability to optimize profits, Pool Mining will be the best choice for you.
In case your financial capacity is limited or you cannot leave your mining machines at home, Cloud technology will be a good choice for you. In the future, Cloud technology will be constantly improved and the trend of Bitcoin mining with Cloud Mining technology will become more popular. So, you should rely on your financial ability, as well as your ability to understand the technology of mining to make the most reasonable choice!
The most prestigious Cloud Mining service companies in 2019
There are two factors that affect your profits from contracts from Bitcoin Cloud Mining: Bitcoin price and the algorithm difficulty Bitcoin mining. However, at the present time, mining is costly and laborious, and does not bring much profit, so you should consider investing in this form.
Typically, Bitcoin Cloud Mining contracts are usually profitable with an average of 12-18 months. So you need to consider before signing up for a Bitcoin Cloud Mining contract from a certain company. Many people are now trapped by fraudulent mining companies, when they often advertise that the contract is only for 2-6 months. If those are inexperienced, it is very easy to fall into these traps.
So in this section, Virtual Money Blog will introduce you to the 2 most reputable cloud mining companies in the world today.
- The first is Hashflare company, is a company specializing in leasing Bitcoin miners with Cloud Mining technology with the largest number of people signing up to Cloud Mining contracts today, because this company offers the best profitability compared to the market. . If you want to mine Bitcoin with this technology, you must sign a Bitcoin Cloud Mining contract and you must pay a certain amount in advance and your earnings will depend on the value. of that company. Hashflare is the TOP of the most prestigious Bitcoin miner rental companies today.
- Monday is Genesis Mining company Founded in late 2013, this is a Bitcoin mining company founded and operating very well from its inception to the present. Although the company responds to investors a bit slowly, it still pays full profits for those who have signed a Bitcoin mining contract. However, because of this delay has made many people worried. Especially for those who join in the first few months they will have very negative reviews about this company.
Above, is the article "What is cloud mining? The prestigious Cloud Mining Coin mining in 2019 ”, hopefully through the article you have more good knowledge about Cloud Mining, as well as advice to invest in this form and introduce you to the most prestigious Cloud Mining service companies today.
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