Cloud mining is the extraction of cryptocurrency operating the computing capacity of technical databases. Its principal distinction from customary mining is that the user does not require to buy costly tools and software, pay increasing accounts for electricity, etc. Hence, cryptocurrency mining takes position in the cloud.
Now we can conditionally distinguish 3 main types of cloud mining:
- Hosting, which is the rental of equipment that is installed at the supplier, for example, the best crypto miner;
- Virtual hosting – in this issue, a personal server is leased, on which its software for cryptocurrency mining is installed;
- Total rental is the most widespread kind; the essence is the rental of computing management without entry to the server.
Advantages of cloud mining:
- savings on equipment, software, and related costs;
- no requirement for certain facts in the installation and arrangement of equipment.
- The disadvantages include the following:
- risks associated with the dishonesty of companies;
- decrease in profit compared to classical mining.
Cloud mining is an excellent alternative to traditional cryptocurrency mining methods. It is rather easy to employ in such mining, but the main problem is selecting a benefit that supplies it. The market is increasing, the number of requests is growing, some organizations fulfill their obligations in reasonable belief, and some deceive their clients.
Cryptocurrency Mining Hosting: Misconceptions
A few misconceptions are essential to discuss to avoid common mistakes. Here are the 2 principal ones:
Concentrating on the price of electricity
- Clearly, many people surrender to the belief that electricity is the best method to keep money on crypto-hosting services. Yes, the more affordable electricity prices, the more enjoyable it is for you as a consumer. But no one has withdrawn the case of the rate and strength of the power grid. Certainly, in the case of cryptocurrency mining, strength and trust in the connection mean a lot, and such moments certainly cannot be threatened. If electricity is cheap but unreliable, the savings won’t do you any good, and you’ll only lose more money. Consider it.
- Trust in fees that are too low.
Sometimes when you discover a bitcoin miner hosting pricing that is an ordering of importance inferior to market prices, you are fortunate and have discovered the most suitable choice. Often this is distinct. Such a lower expense can only cause worry and doubt. In most cases, this occurs: scammers and deceivers who take your equipment and vanish in an unknown direction choose to set a lower price. This is just bait, which is better for avoiding and preventing problems in advance.
Why should users choose Minery.io for cryptocurrency mining?
This site is ideal for both beginners in this field and experienced miners who tried to earn money, but “something went wrong.” Using the services of Minery.io, the user immediately receives some tangible benefits. First, users can work on secure hosting and get a quick opportunity to earn various cryptocurrencies. The Minery.io project was launched in 2018 and, during this time, has made a good reputation among many significant players in this market.
The project creators now allow users to earn cryptocurrency on favorable terms. First of all, it concerns the minimization of costs for electricity costs. Since these are the main costs for mining, having a special tariff is considered a great success. Minery.io users can mine for as little as $0.07 per kWh. Very few of the competitors have a similar tax.
Hosting representatives care about investors and users. The project was created to provide technical, material base, consulting services, and equipment maintenance for those who want to make money on cryptocurrency mining. Today, that hosting is the most significant legal site that operates in the field of mining.
Each user can independently evaluate all the benefits of cooperation with this hosting. In addition to providing a cheap electricity tariff and keeping a minimum commission for using hosting, the site offers the following services:
Direct hosting of the company’s servers. A unique center has been developed for users, where all data is processed. In case of technical hitches, all mathematical calculations of crypto coins are transferred to backup servers. With their help, the mining process always occurs without failures, and users do not feel any fluctuations in the operation of the site;
Purchase and installation of purchased equipment. Representatives of the site can recommend partners who provide various kinds of devices for mining. They have high power and wear resistance and are purchased directly from manufacturers. The site indicates the equipment cost, including installation, configuration, and after-sales service. In addition, the hosting has a unique platform where each user can independently put up previously purchased equipment for sale;
Repair of the sold equipment. The company provides a complete service for users who have purchased equipment on the site. In particular, they regularly send certified specialists to perform maintenance work on previously purchased equipment. In addition, regular monitoring of the temperature regime of all processors and video cards is carried out. This is to prevent them from overheating.
Conclusion
In conclusion, before you get the final price, you still have a little work and effort to do. But as a consequence of this, you will get the most beneficial and satisfying opportunity and will be able to choose the best hosting for mining. We wish you good luck and are confident everything will work out for you. Take your time, effort, and knowledge.
