Mining bitcoins in the cloud: learn the pros and cons before you get into this business
The popularity of bitcoins is unstoppable. Crypto currency, as the experts claim, is the new future of money. If you are interested in investing and securing digital money, this article is for you. We’ve gathered valuable information to help you understand the ins and outs of the crypto industry.
How does bitcoin cloud mining works
If you want to purchase bitcoins, cloud mining is your top option. Cloud mining system enables investors to earn bitcoins from a remote data centre without using any software or hardware. Because this is done in a remote manner, you don’t have to worry about the lack of bandwidth, electricity, hosting or power to invest and earn.
Advantages of Bitcoin Cloud Mining
It’s fun and exciting. You’re earning money from a seemingly non-existent world. However, the truth is that you are working and using strategies to augment your income. This is a legit investment scheme and not an overnight get rich formula.
It’s competitive. If you are the type of investor that loves to take risky deals, cloud mining lets you compete with others and show off your unique and powerful mining strategies. If you’re a newbie, it will enable you to learn how crypto currencies work.
It can make you a millionaire. You have to believe in the power of bitcoins to replace the current paper money. In the future, it will have an extremely high value in the physical markets. This is firstly the reason why you are into cloud mining. Once the bitcoins have been adapted by countries and governments worldwide as a form of virtual money, your investments will earn substantial interests.
Electricity cost is low. If you are using any hardware for mining, expect your electricity costs to double or even triple because mining rigs require intense power source. This is not the case for cloud mining since you are using somebody else’s computing hardware.
Start immediately without thinking about any software or hardware. Just purchase or sign the cloud mining contract and you’re good to go. Several online companies offer such cloud mining services so you can easily find them.
Disadvantage of cloud mining
The cloud mining industry is infested by scammers, fraudsters, and fake cloud mining companies. You have to careful what particular cloud mining service to pick or you might just end up losing all your investments to some people you don’t know. Hashflare and genesis mining have been in the industry for many years and most investors trust them.
Cloud Mining with Hashflare
Hashcoins is the company behind Hashflare. It is a service that lets you get into cloud mining without any equipment on hand. The concept of Hashflare mining is that you are able to enjoy a stable network with favorable conditions at most times. The payouts are expected to be predictable and let you foresee your ROI or return on investments.
Cloud Mining with Genesis-Mining
Genesis mining is the largest provider of cloud mining services. Real customer reviews claim that profits are not that high although you can expect a consistent and reliable flow of payouts. Genesis enables users to earn 6 major crypto currencies namely Bitcoins, Zcash, Dash, Monero, Litecoin and Ethereum.