Cloud Mining allows people to mine crypto-currecy, like bitcoin, without the use of hardware. This saves money on electrical costs and hardware equipment. Many of the expensive hardware associated with high-end GHS rates costs thousands of dollars. In addition, if you want to increase your bitcoin intake, you have to purchase more hardware and generate even more electricity.
Mining within the cloud environment eliminates all of that. If you want to increase your bitcoin intake than all that you would have to do is purchase more mining power.
Your able to utilize cloud services either through a contract or without a contract.
You receive a higher amount of bitcoins with hardware mining compared to cloud mining with the same GHS rate. But, you may find it more convenient to mine through the cloud because…
- it’s much easier to set up
- you don’t have to keep the computer running in order to mine
- less electricity costs
- no need to purchase more equipment in order to increase the GHS rate.
The cloud provides an opportunity for people with no mining knowledge to instantly start mining their own bitcoin’s. It’s just a matter of setting up a bitcoin wallet ID, if you don’t already have one, in order to purchase mining speed.
Mining through the cloud provides the ability to generate tons of crypto-currency. You can mine litecoin, davecoin, namecoin, dogecoin, and more.
How do cloud mining companies make their money?
Through maintenance fees. These fees are usually assessed after a reward is given within the blockchain.
Whats really special about the cloud is there is virtually no risk involved when you incorporate free bitcoins into the mix. If your looking to dabble with crypto-currency, this might be the solution for you. Once you start to purchase mining power it begins to generate bitcoin’s immediately through the block chain.
The bitcoin phenomenon is an absolute nightmare to get a hold of for some. I know how complicated it was when I first started to learn the ins and outs of the currency… But servicing within the cloud eliminates all of this complex language and sets itself up as a simple way to get started with digital currency.
CEX.IO was the first to offer Cloud services. They allow you to mine 4 different crypto-currencies and trade 9 different types of crypto-currencies, including litecoin, simultaneously. They pioneered a cloud servicing industry that is now leading to a more competitive market that keeps mining hash rates down. This is better for those looking to invest in digital currency and formulating a portfolio for futures to come.
What is Bitcoin? Where do you get it? And why is Cloud Mining profitable?
Watch the video and get answers to all the questions regarding this currency of future. Find out how to earn even more Bitcoins with CEX.IO Bitcoin Crypto Exchange and leading Cloud service. (Cex.IO has since suspended their cloud hash mining services for a short period of time as the maintence fees reached to levels where it was not profitable for it’s customers. It is still being utilized as a trading platform and online exchange to buy and sell your bitcoins.)
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