You're probably already aware that mining bitcoin or other cryptocurrencies can be a serious commitment. You have to purchase powerful hardware and set it up to be running 24/7. Using substantial electricity along the way and also dealing with the excess heat. But what if someone else do it for you?
Well that's what cloud mining basically. You actually rent hash power from a company that you mines cryptocurrency on your behalf. In this way you don't have to worry about buying and maintaining the hardware or dealing with the excessive energy costs. Cloud mining can be powered on many modern apps both from mobile devices or PC.
Companies will set up massive mining farms much larger than any other individual. They'll begin mining cryptocurrencies these systems. Once operational, these companies can offer contracts to potential customers who can purchase a percentage of the harsh power for a fixed period of time. Subsequently earn the cryptocurrency using computer machines those running the operation, handle all the maintenance and housing and so on . Cloud mining can be a profitable investment, guaranteeing you passive income with minimal work. You can expect to earn more from cloud mining than you would from traditional mining. This is because you'll save a lot of money since you do not have to purchase expensive hardware, cooling and ventilation equipment. You'll also save on electricity and maintenance costs.
And ofcourse, there is a downside to all of this. Many companies who are offering these services are scams. They will take your money and you won't receive any payout. When you want to invest in this make sure you make your own research about the company's history, check the community so that you'll have clarity before you make an investment. If all this sounds intriguing to you and you'd like to start immediately , know that there are many legitimate companies which offers these services.
Let's start with Genesis Mining https://www.genesis-mining.com/ . It offers multiple cryptocurrencies to choose from . You'll likely to find a plan that works for you . There's another called Nicehash https://www.nicehash.com/ It's also user friendly. Offers flexibility to purchase various amounts of hash power across a wide range of algorithms because it's an open market. Obviously there are alot of companies to choose from , all you need to do is to do research before starting off .
There is an easy and free way to start of cloud mining. Well head over to Stormgain cryptocurrency exchange https://app.stormgain.com/friend/BNS91155773 . Stormgain offers exchanges , several perks such as loyalty programs bonuses for referrals, annual interest on cyrpto deposits. It available both android and iOS.
