hashing 24 bitcoin mining

What is Cloud Mining?

January 22, 2018 | By | 2 Replies More

What is Cloud Miningevery day, mining becomes more and more interesting and popular, and especially cloud-mining, because in order to mine. Bitcoin, Ethereum, Zcash, DASH, LItecoine, you do not need to place the equipment in your apartment / office / garage, etc. No need to monitor electricity or noise levels, cooling and hardware settings with software. All this set of processes is transferred to the shoulders of TOP services of cloud mining, such as: HashFlare, Genesis Mining, CCG Mining, Hashing24 and others.

what is cloud miningWhat is Cloud Mining

Cloud Mining (cloud hashing) provides an opportunity to purchase capacity in various data centers and to earn a crypto currency without the need to buy physical equipment, then to further adjust it, spend money on electricians, etc.

Cloud mining is very suitable for those who:

  • Weakly technically understands all the nuances of mining
  • If you do not have space for equipment
  • If your country has very expensive electricity, then cloud mining will be even more interesting for you then classic mining at home or office
  • If you want to test and understand what it is and how to live with it further)

Cloud Mining Types

  • Hosting – is when a miner rents equipment to a particular vendor
  • Virtual hosting is renting a server and installing its own software on it for mining
  • Rental capacity – when the miner leases the combing capacity without access to the server (this is just the option of cloud mining, when you show off all the settings in the online office, and then you no longer bother)

Pros and Cons of Cloud Mining

Pros

  • No noise, no need to cool and pay for electricity
  • You don’t need to buy equipment and think how it works
  • Also, it is difficult later to change equipment and to sell it
  • No problems with suppliers of the same equipment: guarantees, marriages, work, etc
  • Quick start for mining and processing at the crypto-currency

Cons

  • Unfortunately, there are a lot of scammers in the cloud mining market, so you should immediately understand and be prepared, that these are risky investments that can “burn out”
  • Not everything is as transparent as you want
  • High competition
  • Ccapacity may not be enough on the market
  • It is enough expensive, but profitabl, as people write
  • In cloud-based mining, everything depends very much on the course of the crypto-currency, if the rate is growing, everything is good, but if it takes a strong hold, there may be surprises from companies

hashflare cloud miningIs Cloud Mining Profitable

The answer to this question is not easy, as the opportunities for each day are different for each one and the profitability depends on a number of factors:

  • Cost of cloud mining contracts is the most important
  • But still are no less important next factors: reputation and reliability, because so many companies have already scrammed, for example: it will not work out very well if the 3-year contract is closed in 6 months or company will not payout you your earned money
  • Exchange rates also play a big role
  • There is also a very important indicator, like the power of the entire network, which is measured by the number of operations / second (hashing)

Cloud mining how to start

  • First, you need to learn what is mining, cloud mining and other terminology
  • Next, you need to choose a cloud-mining service, for example: HashFlare, capacity and the duration of the contract: previously the contracts were unlimited, now mostly contracts for 1-2 years
  • Choose the crypto currency you want to mine, top of them: Bitcoin, Litecoin, Monero, Dash, Zcash, Ethereum
  • You pay an advance and further cloud mining services will do everything for you
  • After you start, you will get payouts on your service’s wallet each day

TOP Cloud Mining Services

  • HashFlare – provides annual contracts for the production of crypto-currencies and here: excellent prices, reliability and reputation “high level”, payments almost every day, algorithms: SHA-256, Scrypt, ETHash.
  • Genesis Mining – BTC, Monero, LTC, ETH …, all this can be mined, competitive terms, algorithms: SHA-256, x11, others. (for January 2018 no contracts)
  • EOBot – is considered one of the most ancient cloud mining services, which began to work actively since 2013. Very many different types of crypto currency, algorithms: SHA-256, Scrypt.
  • Hashing24 – if not mistaken, they have the lowest prices in the cloud mining market, and the data centers in Georgia and Iceland, focus on the bitkin mining, the algorithm: SHA-256. (for January 2018 no contracts)
  • NiceHash – this company-service works like a stock exchange: buy / sell capacity at market prices.

But there are more cloud mining services, a full overview of one you can find on Cloud Mining Blog.

To be continue…

Category: Articles

Comments (2)

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  1. Ann says:

    Genesis mining is a real possibility to make money. Ive tried webmining and i ve been gratefull because it wasnt hard, so that was easy to make money suchway.

  2. Tomas says:

    Cloud mining is really very popular among Internet users now. Every second tries to earn some penny, with no special knowledge to earn, so it’s all popular. Now even teenagers already extract cryptocurrency, which is not surprising in the 21st century. Production usually brings quite good money to the users! Beginners are advised to “hashcoins datacenter”, a very promising site for growth in this area.

Leave a Reply

Comments (2)

Trackback URL | Comments RSS Feed

  1. Ann says:

    Genesis mining is a real possibility to make money. Ive tried webmining and i ve been gratefull because it wasnt hard, so that was easy to make money suchway.

  2. Tomas says:

    Cloud mining is really very popular among Internet users now. Every second tries to earn some penny, with no special knowledge to earn, so it’s all popular. Now even teenagers already extract cryptocurrency, which is not surprising in the 21st century. Production usually brings quite good money to the users! Beginners are advised to “hashcoins datacenter”, a very promising site for growth in this area.

Leave a Reply

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