Cloud Mining is one of the process of crypto-coin mining by utilizing a remote data-center with shared computing power. The present type of cloud mining services enables users and businesses to mine digital coins or alternative crypto-currencies without need to managing the costly hardware.
These cloud mining service providers, let users and businesses mine for them with their remote mining hardware in the cloud. That gives immediate results, mining updates every seconds and investors can also own fractions of cloud instances, if desired.
The crypto-coin cloud mining, sometimes also called cloud hashing, which enables users to buy the output of coin mining power from mining hardware placed in remote data centres. Then all coin mining is done remotely in the cloud.
If anyone want to invest in crypto-coin mining, without the hassle of managing their own mining hardware. Then, the cloud mining is a great alternative, which uses a shared processing power and runs from remote data centers.
Most cloud mining companies today seems to be scams, and this post will help users avoid those scams. Some of the reliable and paying cloud mining companies offering mining service in easy and most efficient way.
# What is Cloud Mining?
Cloud mining or a cloud hashing system enables any user to purchase mining capacity, from the hardware in data centres. Bitcoin cloud mining enables users to earn Bitcoins without any mining hardware, mining software, electricity, bandwidth or other components.
Bitcoin cloud mining, sometimes also called cloud hashing, which enables users to buy the output of mining power from Bitcoin mining hardware, located in remote data centres.
Then all Bitcoin’s mining is done remotely in the cloud. It enables the owners to deal with any of the hassles usually encountered when mining bitcoins, like electricity, hosting, power, installation or the upkeep trouble.
It is said, the companies like Hashflare, and Genesis Mining, have been offering cloud based mining contracts for several years.
# What are the Cloud Mining Advantages?
No excess heat to deal with.
Quiet, because of no constantly humming fans.
No electricity costs.
No bitcoin mining equipment to sell when mining is no longer profitable.
No ventilation problems with hot equipment.
No pre-ordered mining hardware that may not be delivered on time by mining equipment suppliers.
# What are the Cloud Mining Disadvantages?
Bitcoin cloud mining scams.
Unverifiable or otherwise shady Bitcoin cloud mining operations.
No fun! If someone like building their own Bitcoin hashing systems.
Lower profits – Cloud mining services or mining company will have expenses.
Mining contracts may have the ability to cease operations, or payouts in the contracts if the Bitcoin price is too low.
Lack of possession of the mining hardware.
Lack of ability to change the mining software.
Those are some of the advantages and disadvantages related to cloud mining contract and systems, those thinking about dealing with cloud mining system, must research on the Internet first.
Types of Cloud Mining Systems
Generally, there are three types of remote mining available at the moment:
- Hosted Mining Power: Lease a mining machine that is hosted by the provider.
- Virtual Hosted Mining: Create a virtual private server and install your own mining software.
- Leased Cloud Hashing Power: The most popular method of cloud mining is to lease hashing power, without having a dedicated physical or virtual computer.
Mining Bitcoin, Ethereum or Altcoins via cloud is great concept! However, before engaging in any type of crypto-currency mining service, think about the possible risks, profitability is possible if you make the right actions. The article pointed some of the pros and cons, that might help in how to decide which way to go!
There are many companies across the world, offering specialized crypto-currency cloud mining services on modern, high-efficiency mining equipment installed to work remotely.
Most Popular Bitcoin/ Altcoin Cloud Mining Providers!
Here are some of the most reliable and highest paying cloud mining providers on the market, for those who need to start mining crypto-coins today!
# Genesis Mining
The Genesis Mining is one of the world’s leading, and most transparent hosted hash-powered mining service provider for Bitcoin and Alt-coins. This is most reliable & customer oriented mining service. They are heavily investing in the best available hardware to stay at the edge of mining technology. For user, it is the easiest way of mining: no need to assemble rigs or to have hot, loud digital coins miners in their home.
The BitClub Network is not owned by any single person or entity, they are owned by a team of experts, entrepreneurs, professionals, network marketers, and programming geeks, who have all come together to launch a very simple business around a very complex global industry. Anyone can join BitClub Network and begin earning a passive income by taking advantage of their expertise in mining and other Bitcoin related services.
The Hashing 24 was made by professionals for individuals who wanted to get involved in bitcoin mining. Now, they believe that everyone should benefit from the mining, and be able to have access the newest technologies, and large scale industrial data centers from their laptop or mobile phone. The team has been involved in a cloud mining business since 2012. They constantly explore the bitcoin market and they want to share their knowledge with others.
The VIABTC is now launching thier cloud mining product, which is an easy way for everyone to mine their own Bitcoins. Their first cloud mining contract, that’s ViaBTC S9 will run with Antminer S9 system, the most advanced mining rigs available today. All cloud hash-rates will come from the miners ViaBTC purchases, and deploys. Now they have deployed their Batch cloud hashrates for global customers to purchase.
The HashFlare is a new range of cloud-mining services, which is brought to you by the HashCoins team of crypto-mining experts. Their team has been involved with many crypto-currencies since the inception of Bitcoin, and has more than 3 years of experience in the field of mining crypto-currencies. Their goal is to make mining accessible to all users regardless of age, location, investment, technical nouse or experience.
The EOBOT is one of the easiest, cheapest, and best way to get started with mining or mine Bitcoins. Whether or not user use their cloud mining or their own hardware, they can mine any crypto-currency, regardless if it is based on a SHA-256 or Scrypt algorithms. Their cloud mining solution lets mine and hash whatever crypto-currency user need. Users and investors can get started with as little as $10 with immediate mining results.
Bitcoin Pool Cloud Mining
The Bitcoin Pool Cloud Mining offers one of the highest profit contracts in the cloud mining industry, due to its 110% block reward, and competitive contract prices. Additionally, their cloud mining contracts provide 100% guaranteed uptime, and stable hash-rates. Their mining contracts are for sale now, ranging from 1 month to lifetime durations. The cloud mining system is partnered with the largest mining data center based in North America, where they source their hashrate.
The NiceHash is a new business operating since 2014, and it’s the only crypto-currency investment marketplace where miners (sellers) can mine different alt-coins and get regular and anonymously payments directly in BTCs and buyers (investors) can get the opportunity to rent affordable hashing power (cloud mining), and direct it to the pool of their choosing. This way, both miners, and buyers profit from the marketplace.
The POW8, was also founded in 2014, which is a cloud computing platform active in the block-chain technology. It was set up by a team with a wealth of professional cloud computing, and cloud computing mining platform. They are committed to the block-chain industry, and cloud computing, and the majority of users to provide a professional service of digital money, and a safe, stable and efficient mining cloud platform.
The MinerGate is another mining pool created by a group of crypto-coin enthusiasts. It is one of the world’s first pool which provides service for merged mining. Which means that while mining on their pool user can mine different coins simultaneously without decrease of hash-rate for major coins available today.
In modern global world, crypto-coin cloud mining is really useful for those who aren’t technically minded and don’t even want to run their own mining software or specialised hardware.
Those professional cloud mining companies allowing users to invest and mine crypto-coins without the need of equipment. By offering cloud based mining contracts.
The risk of fraud and mismanagement is all seems to be common too in the cloud mining space. As the saying goes, you should never invest more than you are willing to lose!
So, individual or business investors should only invest in cloud mining if they’re really comfortable with the risks.
Investigate everywhere, social media pages, channels, connect with former customers, and ask frequently asked questions prior to investing.
Disclaimer: This article should never be viewed or taken as an endorsement of all or any of the services mentioned above. Please make sure you do your own research before considering any investment or fundings via these services on the Internet.