Cloud mining offers a mechanism to mine a cryptocurrency such as Bitcoin without having to install all the hardware and related paraphernalia. There are companies that allow people to open an account with them and participate in the process of cloud mining for a basic cost. However, the process makes mining accessible to a wider number of people across distant locations.
The process of cloud mining makes you a participant in a mining pool and involves buying a certain amount of “hash power”. Each participant has a rightful share of the profits in proportion to the allotted hashing power. Since cloud mining is done via cloud, it negates issues such as maintenance of equipment or energy costs.
Cloud mining facilitates the process of mining via the cloud. Cloud computing is one of the fastest-growing trends wherein computing services such as servers, databases, software, and storage are accessed via the cloud (or simply over the Internet). Such companies charge on a usage basis just like we pay for our water or electricity usage.
How to use cloud mining? The process is very simple and only requires a person to open an account with a mining company via its website and select certain things like the contract period and hashing power. However, the presence of fraudulent companies or imposters cannot be refuted, and thus one must be sure of the cloud mining company.
How To Get Bitcoins
Mining of Bitcoin and other altcoins is the preferred choice to multiply your wealth rapidly. That’s how it works. Special mining ready hardware such as GPU, CPU or ASIC are continuously solving complex mathematical problems. Such activities are connected with the need for a huge amount of electricity, 24/7 maintenance of software and hardware equipment and is accompanied by increased noise and heat release.
Still want to be BTC miner? If you want to invest in bitcoin mining without the hassle of managing your own hardware, there is an alternative. With cloud mining, equipment is leased from companies that have powerful data centers with mining rigs. All you need is to buy hashing power (hash rate) from a cloud mining provider in exchange for certain daily, monthly or one-time fees. The mining is done remotely in the cloud for maximum efficiency. After the contract starts, the earnings from the mining of digital currency directly go to your account.
How Is Cloud Mining Profitable For Both Sides?
Cloud mining providers, on the other hand, benefit in the sense that they charge a fee for the service they provide. A transparent, reliable and easy-to-use platform can build trust easily and attract many customers. This means that trustworthy providers have a chance of having a huge customer base and profit greatly. That’s why free cloud mining does not exist actually. Many people ask themselves why cloud mining companies sell their mining equipment instead of mining instead. The answer is that they want to scale fast and need secure money to buy new equipment that they can sell. Cloud hashing is a stable income which a company needs with employees. Their business idea is to run mining equipment for others and not do the risky mining business themselves. They let the customers take a higher risk but also with the potential to get a greater return on investment (ROI).
About Cryptocurrency Cloud Mining Companies
There are many providers on the market who offer wide range of services. Prospective clients, however, must be very careful when choosing the right provider as there are several scammers working on the market whose only goal is to build a Ponzi scheme or directly steal bitcoins.
Choosing the right provider is hard, but we offer you information to determine the best mining service and some mining facts. Today bitcoin cloud mining is so easy anyone can do it. Thanks to cloud hashing companies making cryptocurrencies mining for beginners not only possible but common.
There are two largest and most rated cloud mining providers in the World – Genesis Mining and HashFlare.io. We recommend them both. Also, there are new interesting players on the market like NuVoo Mining, CCG and IQ Mining. Read about them more in our reviews and get discount codes on special page.
Cloud mining or cloud hashing is the best way to obtain cryptocurrency in 2019. You do not need specialized, complicated and very expensive bitcoin mining hardware and software. All you necessary is to choose from various services, who provide cloud mining.
On reliable review sites, such as this one, you can choose a service that is best suited to your needs and risk tolerance. On our site, you can find only the best existent solutions for cryptocurrency mining in the cloud. Choose them from the list of most trusted, appropriate and reliable services and safest platforms. For your convenience, our page contains reviews, ratings and product comparisons. Also, we have current promo codes, discount coupons, vouchers, redeem codes for all best cloud mining sites and platforms.
Investing in cloud mining is the most reasonable step in increasing your assets in 2019. Don’t miss your chance! It’s time to earn more!