We all know that to acquire, or “mine” bitcoins is to have an excellent high-end computer to do the heavy lifting. Of course, a good computer might cost you a fortune, not to mention the added weight to your electricity bill and internet bills. For those aspiring miners who don’t have the funds to get a high-end PC, then there is an alternative for that, and that is Cloud mining.
What is Cloud Mining?
Cloud mining is bypassing the use of your hardware, for this case, a PC, to mine bitcoin. Instead of a PC, cloud mining allows you to access remote data centers with higher computing power than any desktop PC can. With this, you can save more money on maintenance and electricity bills. Also, this is great for people who are new to this scene. And as well as not having the expertise in the digital aspect of mining.
Kinds of Cloud Mining
In achieving cloud mining, there are ways on how you can do this:
- Renting a mining machine
- Renting a specific amount of hash power without using dedicated hardware.
- Host mining virtually – by creating a virtual server and installing your mining software in it.
Pros and Cons of Cloud Mining
- No additional electricity cost
- No maintenance cost
- No delays in the delivery of hardware
- No Noise made by the fans that ventilate your mining rig
For the disadvantages:
- Prone to fraudulent activities
- Has a much lower profit than owning a mining rig
- You cannot change the software used for mining
- Sometimes, operations with bitcoins cannot be authenticated
Sure, cloud mining can be the future of bitcoin mining. At this stage, it needs more improvements to provide a much better service to miners. Well, if you want to earn more, you can check Mehr Zu Bitcoin Superstar online for more details on how to invest your accumulated bitcoins.