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What is Cloud Mining?

Cloud Mining is the process of bitcoin mining utilizing a remote datacenter with shared processing power.This type of mining allows users to mine bitcoins or alternative crypto-currencies without having to manage their own hardware.There are many cloud mining scams

Btc

Users of hosted Mining equipment can either lease a physical mining server or a Virtual private server and install mining software on the machine. Instead of leasing a dedicated server, some services offer hashing power hosted in data centers for sale denominated in Gigahash/seconds (GH/s); Users either select a desired amount of hashing power and a period for the contract or in some cases can trade their hashing power.

How does Bitcoin Cloud mining work?

The main difference between traditional Bitcoin mining and cloud mining lies in who houses and maintains the Bitcoin mining hardware. With traditional Bitcoin mining, the user buys, sets up and maintains the Bitcoin mining rigs. This requires extensive technical knowledge as well as adequate ventilation for cooling and will result in an increase in electricity costs. On the other hand, with Bitcoin cloud mining, the Bitcoin mining rigs are housed and maintained in a facility owned by the Bitcoin mining company.

Faucet

Pros and Cons?

Advantages over the normal home-mining.

Pros:

low cost of electricity

A Quiet and cooler home

No need to maintain repair and configure the hardware

Cons:

Management Cost for the Rented Hardware

Lack of Security

Lack of control - most providers don’t offer the possibility for one to choose their desired mining pool

Turn to a scam cloud mining.

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