Guide to Bitcoin Cloud Mining
to start earning Bitcoins? Is it even possible nowadays?
For those interested in investments in the cryptocurrency
business, here is the detailed guide to current crypto
There are several primary ways to get cryptocurrency,
and mining is still the most real as well as most
profitable. Here are the key moments you should know
about how it works.
In the crypto mining mechanism, powerful computers
add new groups of transactions (so-called blocks)
to the blockchain network.
A user who mines with their machine gets rewards for
every added block. The block reward is a small amount
that motivates miners to confirm transactions.
The mining process is performed by massively powerful
computers. Also, it is necessary to have a lot of
specific facilities (such as air-conditioners, coolers,
you have to know first, that Bitcoin mining is an
incredibly expensive process in the 2020s, and it
requires really high investments. The good news is
we have a cheap and really affordable alternative
that is definitely for everyone. This one is the cloud
In cryptocurrency cloud mining, users utilize remote
mining equipment located in the provider's data centers.
There are two different models to deal with it. First,
you can rent a virtual private server to earn cryptocurrencies
using your own software. Also, you can lease a part
of mining hardware in a data center run by a big company
that provides customers with mining services. Finally,
the simplest model is renting hash capacities generated
by facilities of the cloud mining company.
a trusted platform and reasonable contract option,
cloud mining can bring you a pretty good return. Profitability
strongly depends on the current Bitcoin price as well
as on basic terms set by a provider company. Currently,
the average yield rate starts at 150%. So you can
return your investments within around six or seven
months by choosing the right kind of mining contract.
Depending on the investment amount, the cloud mining
model seems reasonable for both small and large crypto
you purchase your first contract, take the time to
read reviews on crypto-related websites. Keep in mind
it is crucial to find a trusted cloud mining platform
with reasonable pricing and high profitability. After
choosing your provider, create an account and make
your first deposit. It won't be challenging as the
cloud mining sites accept payments in USD and
other fiat currencies. Finally, the last step is selecting
the plan. Pay your attention to hash rate, price per
GH/s, and contract duration period.
companies allow starting right after you purchase
the contract and rent a suitable miner option. Also,
they provide users with daily reward payouts so you
can see your first profit from cloud mining right
on the following day. You can always make a request
to withdraw your funds to your cryptocurrency wallet,
credit card (Visa or MasterCard), or even to your
regular bank account. To get even more money, you
can reinvest your funds and make the highest possible