As in many other business areas, some processes can also be outsourced in earning from cryptocurrency mining. You probably know that now, for example, no one places sites on their computers, but uses hosting. It’s cheaper, easier, more reliable and more profitable, finally.
So why mine on your hardware? This is inconvenient in many ways. After all, you need to buy video cards or ASICs, configure, mount and place them in a suitable place, monitor and constantly monitor the performance, as well as the state of this iron and the situation for fire and other hazards. Really troublesome.
Therefore, cloud mining services have long appeared on the market. The company buys wholesale iron at a price significantly lower than retail (at which it will not be sold to you). They place it in special rooms (data centers), where the costs of accommodation, cooling and surveillance are minimized. After that, they rent part of the available capacity (or all of it completely) for mining.
The main criterion for choosing cloud mining will be the analysis of reviews about the service on the Internet. Note that for a hundred “tricks” there are only a few actually working data centers with real mining equipment.
There are two proven cloud mining services for bitcoins and other cryptocurrencies that you can trust (at least you can start your consideration of the topic with them).
HashFlare – has been working steadily for several years, which is an unprecedented time for cloud mining services. The servers are located mainly in Estonia, and the service itself is owned by HashCoins, a fairly well-known miner in the world, which develops software and special hardware for cryptocurrency mining.
You essentially lease the power, which is measured in the number of hashes calculated in one second (all mining is just sorting out numbers to get the right hash at the output). For different cryptocurrencies, the algorithms and conditions for computing a hash vary.
Genesis Mining is another centenarian in the field of cloud mining. The service belongs (or is connected by a preferential contract) to a well-known iron producer for the extraction of cryptocurrencies.
The Genesis Mining asset currently has four tariff plans for each of the six major cryptocurrencies, able to satisfy the needs of most people who want to invest in mining. Which one to choose, which currency to mine and generally the expediency of this enterprise should be calculated in advance, or found out empirically.
You can search for other cloud mining services that are really mining cryptocurrency on the Internet yourself.