If until today you never heard of the concept of “mining” then let’s first find out what it is? Actually, this is nothing else but the process of producing a cryptocurrency, in particular the Bitcoin, by performing computational operations.

Several years ago, it was possible successfully to use the power of your home computer to this work, but now the complexity of the production of new coins is significantly increased. In this regard it has also increased the requirements for equipment that is able to bring profit to its owner.

Now the special farms are building for profitable production. They are so-called large data centers provided the necessary electricity and cooling system. They can include several hundred computers aimed at the bitcoin mining.

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At the moment it is very profitable to invest in the bitcoin, but what about ordinary people like you and me? It is required a huge finance for the construction of the farm, besides its maintenance takes a lot of time and efforts, and so it will need the additional workforce.

The cloud services were created just for us! They are offered by the huge farms, which already have established the process of the cryptocurrency mining, and that can quickly connect new equipment and maintain it.

So how does the cloud mining work? Buying the service, we become the tenants of a small piece of the equipment that begins to work for us. The company that runs the farm takes care of installation and maintenance. We’re just on time, and sometimes forever, become owners of the facilities and receive the dividends on our accounts.

It would seem that if it is so profitable, why share the cryptomoney with anyone? Why farms do not work for themselves and do not swim in millions of bitcoins? Actually most of its capacity is really working for the owner of the company. Cloud services are sold only in a small part.

This is done in order to get part of the profits of the conventional money, which can pay for the electricity or for the rent. Workers also probably want to get the salary in US dollars or Euros.

The cryptocurrency is still just gaining momentum, so even the largest holders of the digital money still need the usual banknotes and bank cards.

Now that we know how the cloud mining works, let’s talk about its advantages and disadvantages.

Advantages:

• You don’t need to set anything or to care about the repair. The owner of the farm will do all the work for you.
• No noise from the working computers, no giant electricity bills.
• This type of investment can yield up to 100% profit per year at the current rate of coins.

Disadvantages:

• The exchange rate changes every day. No one knows how much you can sell cryptocurrency tomorrow, which is today mined.
• On the wave of popularity of bitcoin cloud services there are a lot of scammers who arrange the pyramids, even without having the real equipment. Be careful and use only trusted websites!
• The difficulty of mining bitcoin and other altcoins is constantly increasing. Therefore, we must be realistic and recognize that the profitability of the mining will decrease.