What is Trusted Cloud Mining
Cloud Mining is the process of mining bitcoins using remote data centers with shared processing power. This type of cloud mining allows users to mine bitcoins or alternative cryptocurrencies without managing hardware.
Mining rigs are placed and maintained in facilities owned by mining companies and customers only need to register and purchase mining contracts or shares. Since Cloud Mining is provided as a service there are usually some fees and this can result in lower returns for miners.
If you use cloud mining, you only need to pay a third party to do mining specifically for you. That is, you don’t need to have a mining rig or mining device like you do mining in general. Through cloud mining you also don’t need to run blockchain nodes.
Cloud mining makes users only need to rent a mining rig or rent hash power only. Mining rig power measurements usually have units of Gh/s (gigahash per second) and Th/s (terahash per second). Typically, cloud mining service providers own and operate mining rig facilities.
Service providers will offer participants the opportunity to buy or rent a portion of hash power. Well, this cloud mining process is the right type of mining for beginners who don’t understand how to mine.
Types of Cloud Mining Sites
Host mining involves leasing or purchasing rigs at a mining farm. This type will make you pay for the maintenance of the rig.
The advantage of hosted mining is that it can reduce overhead costs regarding access to electricity for mining. In addition, you also have more control over the rigs you rent or buy.
Then, you can also choose to switch the hash power mining pool or mining pool to strengthen your chances of finding new blocks. You also have complete control over the rewards. You only need to pay for maintenance (repairs) and settings on the cloud service provider you use.
Lease Hash Power
Lease hash power is inversely proportional to host mining. This type includes leasing part of the hash power from the mining farm.
Lease hash power doesn’t cost you any maintenance or setup costs. You just have to subscribe to the plan to receive your share of the benefits.
When the farm discovers a new block and receives a reward in the form of crypto assets, the revenue generated will be divided among users according to the hash power share.
Trusted Free Cloud Mining Charaterisitic
As we all know, the price of Bitcoin is getting more expensive, the more people want Bitcoin From Cloud Mining. As the price of Bitcoin skyrockets, more and more Bitcoin mining sites appear, especially cloud mining farms that are scams.
Indeed, not all cloud mining is a scam, because there are some that are proven to be valid and indeed bring profits for their users. However, there are also many cloud mining scams that, if used, only give very small results, or don’t even share profits at all.
It is very difficult to cloud mining scam or legit, and this must be through experience.
But of course it would be better if before deciding to rent cloud mining, we should really have to read in more detail about the reviews that you can read on the Trustpilot site and also the portfolio of the Cloud mining company.
Even though the reviews are good and the company is trusted, don’t invest a lot right away. A class of professional fraudsters will make everyone look trusting. As if it were real. But sometimes it’s far from reality.
After all of you have checked the cloud mining site, the next step is to find out some of the characteristics of a scam cloud mining site, including:
- Bitcoin Mining Process Is Very Fast
To find out the Scam cloud mining site, you can look at the very instant mining speed. Extremely fast Bitcoin mining times are very unusual.
- Withdrawal Must Deposit
After the Bitcoin you have mined has reached the minimum withdrawal limit, you definitely want to make a withdrawal. It turns out that you can’t make a withdrawal because you haven’t made a deposit which is a requirement before withdrawing.
- Ponzi schemes
Do not participate in cloud mining sites that guarantee huge profits after you make a deposit. This is called a ponzi scheme, where funds from the next depositor are principally used to pay off the previous investor. The end result will generally be a lot of people who will lose a lot of money. Ponzi sites generally have a referral program. If someone manages to get another victim to join, the inviter gets a commission.
Well, in theory, cloud mining makes less profit than building your own mining rig. If any cloud mining provider offers great benefits, it is questionable whether it is a scam, a HYIP, or maybe a multi-level system. There is nothing wrong with being more careful in choosing a cloud mining site to get Bitcoin.
Best Legit Cloud Mining Sites
Looking for the best and trusted cloud mining website? Well, well you are in the right place. We are here to give you the list of best cloud mining sites that are making round on the internet.
Are you bothered to rent the hardware equipment and mine by yourself? Cloud mining can help you in this regard. We will go through each and everything from what cloud mining is to how you can rent out equipment to make sure your mining process runs smoothly. Let’s dive into this!
To start cloud mining, there are various top legit cloud mining sites that ensure the best security for your assets and provide a comprehensive list of features. The following are the best and top-rated Bitcoin cloud mining websites in the market.
On This Final Tips, you Can Choose from article above, you can read and compare, then finally you can Deposit some money, remember some money not all of your MOney to invest. Try 1 Month, if It Legit You can Continue, but remember NOT ALL OF YOURE MONEY. Happy Mining.