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What is cloud mining? How to start digital currency mining with cloud computing power mining contract

In the early days of the emergence of Bitcoin and other encrypted digital currencies, individuals had to purchase and independently install mining hardware to start mining in order to earn revenue. However, with increasing attention in this area, different services have emerged that are ready to provide their computing power. Now, there are a lot of suggestions on the market for mining cryptocurrency online: cloud computing power mining contract.

What is cloud mining?

Cloud computing services are dedicated to providing users with their resources for cryptocurrency mining. Customers have gained the computing power of the blockchain supercomputing server by hour, day, month, year or one-time payment.

This method allows those who are unable to place mining equipment in their houses to use the computing power services brought by the mining equipment. There is no need to pay a large electricity bill or hear noise from the cooling device at home, and save the complicated process and time cost of setting up and installing it yourself.

Of course, the more important point is that purchasing cloud computing power services allows ordinary people to easily participate in blockchain computing and enjoy the dividends brought by blockchain cloud computing: mining bitcoin and other encrypted digital currencies through computing power.

How does it work?

The blockchain cloud computing platform provides cloud computing power services: purchase equipment independently and then deploy computing power. These resources are sold to users as part of online mining.

To get started with any cloud computing platform, you only need to take a few steps to get your bitcoin or other digital currency (Take cloud computing power as an example):

1: Register a hashrate account at irishash.cybtc.org

2: Computing power purchase, maintenance fee recharge, upload payment voucher

3: The mining power contract starts to run mining to obtain bitcoin or other digital currencies: please bind the receiving address (the address of the exchange and digital currency wallet)

Benefits of cloud computing power:

One of the main benefits of cloud computing power is the cost of electricity. Because digital currency mining hardware requires a lot of power, ordinary people may face high power costs when conducting encrypted digital currency mining at home. Therefore, cloud computing power mining creates an online mining mode through the centralized management of the platform, eliminating this obstacle. The power cost of Caiyun computing power is about 0.38 yuan / kwh, users can enjoy low maintenance costs and do not need to be at home Installation requires additional power to deploy and run professional mining hardware.

Noise and convenience. Using your own mining hardware to mine digital currencies at home can be noisy. The humming noise can be very disturbing. In addition, mining generates extra heat in the home, which can also cause safety issues, especially if the fan fails. Since there is no need to purchase your own hardware, it is easier and more convenient to start digital currency mining with cloud computing power. So for those who want to avoid these obstacles, cloud computing power once again provides a good choice.

Equipment reliability. It is difficult for ordinary people to maintain a blockchain supercomputing server. Cloud computing power can save time and money. If your own mining equipment fails, you will be offline and you will not be able to continue to earn money. On the other hand, using the services provided through the platform data center, the platform will choose the most reliable mining equipment and professionally operate and maintain it in daily maintenance, so it can ensure the relative reliability of computing power.

Finally, there is the issue of revenue. At present, the computing power of Caiyun is a perpetual Bitcoin computing power contract. The current currency price cycle is about 300 days. After this period, all the revenue of the contract will continue to produce profits until the output does not meet the electricity contract.

Potential risks of cloud computing power:

For ordinary investors, cloud mining can indeed make stable money. However, it is necessary to identify some pitfalls for those who seek cryptocurrency mining and have a dream of getting rich for a short time. Cloud computing power may be opaque, which increases the chance of fraud. Therefore, it is important for Xiaobai investors to conduct a detailed investigation of the selected providers and products before starting cloud computing mining. According to the user experience, assessing its legality by reviewing its legal identity, registration location and service area, and contract terms to ensure that the service you choose is a trusted cloud computing service provider is particularly important.

Pitfall # 1: Funding in the name of cloud computing power and high rebates

Trap 2: Money-cracked cloud computing power leveraged wealth management products with ultra-short-term high static profit returns as a gimmick

For ordinary investors, choosing a reliable digital currency cloud mining service is the key to personal wealth in the blockchain era.

The benefits of cloud computing power contracts depend on many factors. When choosing a cloud computing power service, you should pay attention to the following:

Whether the information is open and transparent, whether the computing power is generated by the real blockchain supercomputing server, when the platform was created, the type of product provided by the company, the type of hash algorithm, whether the method of distributing digital currency is transparent, and the duration of the mining contract ( Long-term contracts make it easy to mitigate risks and maximize your mining returns), and the speed of customer service feedback.

we wish you all a happy mining trip.

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