Cloud mining is a method of mining cryptocurrency using a remote data center with a total computing power. It allows you to earn bitcoins or alternative types of digital currencies without having the right equipment for it. It is enough to use the services of the “cloud” service, paying a certain amount for its services.
Principles of cloud mining
The basic principle of cryptocurrency mining with the help of cloud services is that the equipment (“ farm mining ”) is not purchased, but leased. Miner pays money to the selected service for the use of technology, which can be located anywhere in the world in a special data center or regular office. The owner of the equipment, receiving the rent, is engaged in its configuration and maintenance.
Theoretically , a person who does not understand cryptocurrency in mining and does not want to spend money to buy “farms” can deal with cloud mining . However, in reality everything is not so simple – this way of earning also requires certain experience and knowledge. A beginner miner should know the difference between cloud and regular mining, and how to find a suitable service so as not to become a victim of fraudsters. Finansy watch depending Turkmenistan mozepukecocery.
The main differences from the usual methods of mining
The main feature of cloud mining is a completely different approach to work. So, starting to mine a cryptocurrency in the usual way, the future miner must complete at least 4 stages. First, collect a certain amount for the purchase of equipment, the recommended cost of which starts from $ 2000- $ 2500 . Then you need to select and buy the necessary equipment. After that, installation of the acquired mining farm is carried out in a suitable place, taking into account the load it will have on the home electrical grid. It is possible that the owner of the apartment, which has not been repaired for a long time, will have to replace the wiring and upgrade the electrical panel or limit the capacity of the equipment. The final stage – setting up the equipment and its use for the extraction of cryptocurrency.
When using the cloud mining option, there are only two stages:
- Choosing a suitable site for the extraction of cryptocurrency and registration on it;
- Investing (one-time or periodical) funds in the rental capacity of other equipment.
In this case, the landlord is responsible for the selection and purchase of equipment. He must take into account the load on the grid and solve most other problems. At the same time, the payback period of cloud mining can reach almost the same level as with conventional mining – on average, about 12 months. This means that in a year (and sometimes even less) the investment will return, and in the future mining will bring only net profit.Interesting facts: In 2017, the growth of mining popularity led to a rise in prices for farms, the main part of which are powerful gaming graphics cards . On average, the cost of a powerful graphics card, which previously could only be used for games, increased 1.5 times.
Advantages and disadvantages of cloud mining cryptocurrency
It is worthwhile to choose mining with the help of leased facilities for a number of reasons. The first is the ability to invest in rent virtually any means – from a few dollars to the amount, thousands of times greater. Among other reasons for choosing such an income option, you can mention the absence of such problems:
- constant additional costs from the miner for electricity, Internet and rental of premises;
- the need to contact specialists who would configure the equipment;
- maintaining technology in working condition and monitoring network performance;
- constant noise of the cooling system mining farm;
- prosecution by the state in those countries where mining and working with cryptocurrencies are officially prohibited.
Interesting facts: Cryptocurrencies are partially or completely banned in dozens of countries around the world. And, for example, in Bangladesh, you can get a real prison term of up to 12 years for using Bitcoin.
There are cloud mining and cons. These include the need to pay for the services of the lessor of the equipment. Sometimes, such an extra charge is obtained symbolically in comparison with the profit, but it can take a significant part of the profit – the higher the reliability of the service, the greater the percentage of the profit will have to be given. The second drawback is the ability to earn income only as long as the resource continues to work. The termination of the work of the company providing the services of renting capacity for mining leads to the completion of the work of the miner, who by this time may not even recoup the investment. Finansy delay on Dominica finivuqefu.
How to start doing cloud mining?
Before you start making money using cryptocurrency cloud mining ( and how much can you earn? ), The miner must perform the following steps:
- Get at least a minimal idea of mining, having familiarized with the terminology and basic algorithms (SHA-256, Scrypt and X11);
- Choose a suitable service, guided by a number of criteria;
- To determine the power, type of cryptocurrency and the term of the contract.
Most of the contracts are for a year, although sometimes they can be indefinite. Some companies offer various options – ranging from 6 to 24 months. Sometimes the entire amount is paid immediately, but there are services that take an additional commission.
The choice of sites for the extraction of cryptocurrency
Choosing a suitable resource, the services of which the miner will use, you may encounter scammers – a financial “pyramid”. You can learn them by promises of high and fast income. And work with such a site is usually complete loss of investment.
To reduce the risks of becoming victims of fraudsters and increase your chances of making a profit, it is advisable to choose a cloud service according to the following criteria:
- publicity of the site – on the resources that are trustworthy, you can usually find photos of employees, videos with mining equipment and pages on social networks;
- date of creation – it is not necessary to choose services that work only a few months (that is, since the beginning of the increasing popularity of mining);
- capacity – the total, which has the company, and the maximum available for a single client. The greater the performance of the resource, the greater the confidence in it;
- the ability to extract multiple cryptocurrencies (multicurrency). The more virtual currencies a service uses, the more comfortable it will be to work with – although this indicator does not affect either reliability or profitability.
Do not neglect such selection criteria as user reviews. After reviewing the opinions of other miners who have already used the services of the site, one can draw conclusions about its reliability. The presence of a large number of negative reviews suggests that it is better to look for other services. In this case, it is desirable to take into account the possibility of purchased reviews, and get acquainted with the opinions of customers about the same service on different web pages. In addition, to reduce the risk of investing in the “pyramid”, it is desirable to use the services of several companies. Finansy play granted Eritrea jutylajeho.
The most reliable sites for cloud mining without investing in 2017
Some services that provide their facilities for rent already have a fairly serious reputation. They can enter into contracts without fear of becoming a victim of a fraudulent scheme. A list of ten proven and reliable sites for cloud mining will help you to get acquainted with their advantages and disadvantages.
One of the best pools in 2017. It has an almost perfect reputation – one of the main characteristics for such companies. The advantages of the service include the possibility of paying contracts with cards, electronic money and even Bitcoins. The disadvantages include the lack of accounting for service charge diagrams and account blocking for 2 weeks after changing the password or e-wallet address.
Another popular and well-known service that offers to do Bitcoin cloud mining and other cryptocurrencies. On the company’s website you can find all the necessary information, including photos and video confirmations of the work of data centers. Among the advantages of its use is the ability to buy contracts for the same cryptocurrencies that were earned on the service, the disadvantages are the high minimum cost of starting work – $ 30 .
A site that is distinguished by high registration speed (you can even enter through social networks), a wide choice of payment options and the ability to buy contracts from a Bitcoin balance. Not less minuses – they include the ability to work only with Bitcoin (not the most profitable cryptocurrency) and the high cost of the contract.
The company that owns this service provides tenant facilities with the services of huge data centers and mining several types of cryptocurrency. In addition, leased resource capacity can be quickly sold and exchanged. Additional benefits include a high level of profitability and small contract prices. The disadvantages include a high threshold for the withdrawal of earnings.
The company provides good contract terms and has a high level of payback. However, its reliability is lower compared to many other services. Sometimes there are problems with the withdrawal of funds. But as a plus, periodically appearing discounts on mining power can be called.
The advantages of using the EOBot service include multicurrency, lack of service charges and the availability of a 24-hour contract that can be sold after the expiration date. In addition, the power can be paid for cryptocurrency. However, the cost of contracts is quite high, as well as the amount of commission for transfers.
Comparatively new service Fleex differs with features of mining some of the most popular cryptocurrencies and a high percentage of profits. You can get up to 1-2% profit per day. On the other hand, some users noted problems with payments of earned cryptocurrency.
The service is a good option for miners earning on mining Bitcoin and Lightcoin. The main advantage of the project is perpetual contracts, which allow withdrawing funds daily. Among the minuses – periodically arising problems with the payment of earnings.
The main advantage of the Cryptomonitor service is reliability – the site has been operating since 2015 and offers long-term contracts. The disadvantage of choosing this option are the terms of contract completion. The user can receive the extracted cryptocurrency only after the amount on the account exceeds the invested money by 2 times.
The advantages of the service are the minimum threshold for starting work. You can use the service, having only 0.001 Bitcoin. On the other hand, it is this cryptocurrency that is now considered one of the most unprofitable, and another site does not provide opportunities to mine.Interesting facts: The profitability of BTC cryptocurrency declined after large mining-farms began to be built for its mining in China. Because of this, the payback period of this virtual currency unit increases.
Black List of Mining Cloud Services
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