If you’re looking for an easy and low-risk way to make money with digital assets, cryptocurrency is the answer. There are dozens of trusted cloud mining sites around the web that came up with affordable service terms and reasonable pricing for the contracts.
What is crypto mining in general
The process of crypto mining is not only a way to create new coins on a blockchain network. It also includes the mechanism validating cryptocurrency transactions by users and adding them to a distributed ledger. Network members get some coins as a reward for using their computational capacities. It is a really ‘hard to understand’ kind of technology for beginners. And actually, it’s also an extra-expensive option for average users nowadays. The only way to be involved in cryptocurrency mining without special gear and advanced technical knowledge so far is cloud mining.
Why is cloud mining a better option?
First, let’s go find out what cloud mining is. When we talk about Bitcoin (as well as altcoins) cloud mining, we mean the scheme to make cryptocurrency without any special equipment aka mining rigs and pools. You don’t have to install, configure and maintain any ‘hard’ and noisy machines to run this kind of crypto business. All you need is to buy a cloud mining contract and lease a miner hosted by the provider, a large company with its own Data centers and technical crew.
Some cloud mining platforms run under the monthly or annual subscription model. Others provide customers with one-time payments. There are a lot of plan options on cloud mining websites. So it is essential to calculate estimated income before purchasing that one and only contract. Some platforms offer a cloud mining income calculator, an extremely useful tool that helps you with choosing the right kind of plan.
In most cases, a cloud mining contract includes service fees for customers. It covers electricity bills, service costs, salaries, and any other charges for a company. So cloud mining is the gainful process for both the provider and customers who mine cryptocurrency with zero technical issues.
Is crypto cloud mining legit?
Most countries allow the mining of cryptocurrency, and that process is totally under the law there. Note when we say legit, we do not mean trusted, reputable, or profitable at all. We only refer to the fact that a cloud mining provider actually owns and runs the Bitcoin mining hardware by itself. In such a case, the cloud mining process is definitely a ‘win-win’ model when both provider and customer get steady profit from their collaboration.
Sadly, aside from legit cloud mining companies, there are a lot of complete scammers around the internet. One of the common red flags is a so-called ‘pyramid’ scheme. In this case, you have to invest money in order to pay the people who came in first. To put it another way, the company does not actually own any mining rigs. And the funds you pay are used for paying out ‘older’ pyramid members and the company itself. We strongly recommend avoiding any scammer schemes in cloud mining. There are a lot of expert reviews on the internet that can help you with choosing a trusted legit website to mine cryptocurrency in the cloud in a completely legal manner.
What is the Hash Rate in cloud mining?
Most first-time miners don’t get the meaning of the hash rate (aka hash power) term. All right, let’s deal with this briefly. Talking about the hash rate, we mean the measure of the computational power when the mining rig is working. To be more clear, it is the speed of the cloud mining process. With the highest (fastest) hash rate, you can get maximum profit from cryptocurrency cloud mining. So you have to make some calculations first before purchasing a contract you chose. The measuring unit of hash power in Bitcoin cloud mining is GH/s, a term stated as Giga Hash per second (as well as one billion hashes per second).
Overall, cloud mining is a breakthrough technology to make cryptocurrency without any state-of-the-art equipment and technical knowledge. There are a lot of legit providers that enable crypto investors to earn Bitcoin and altcoins by renting a hash power mined by rigs in remote Data centers. The profitability of cloud mining depends on a lot of factors, such as type of contract, hash rate, and so on. Also, mind you have to find a trusted cloud mining platform to earn cryptocurrency with zero risks. If you are new to cloud mining, you better make your investments little by little to create a stable passive income within one year or something of that nature.