What is cloud mining ?
Cloud Mining is the process of bitcoin mining utilizing a remote datacenter with shared processing power. This type of mining allows users to mine bitcoins or alternative cryptocurrencies without having to manage their own hardware.
Cloud mining is really useful for those who aren’t technically minded and don’t want to run their own software or hardware.
Put very simply, cloud mining means "Renting" processing power run from remote data centers to mine bitcoin. One only needs a home computer for communications, optional local bitcoin wallets and so on.
If you have very high cost electricity too – for example in Germany – then it’s a good idea to outsource your mining to somewhere where electricity costs are much lower as they are in China.
However, there are certain risks associated with cloud mining that investors need to understand prior to purchase hashpower.
Advantages of cloud mining
Here’s why you might want to consider cloud mining:
Disadvantages of cloud mining
Here’s why you might not want to consider cloud mining:
Types of cloud mining
In general, there are three forms of remote mining available at the moment:
Cloud Mining Reviews
Below is a list of several cloud mining services that we have reviewed to give you peace of mind when investing in purchasing hashpower. We will show you step -by- step instructions to getting started and setting up your accounts to start mining.
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