Cloud mining is the new way of earning money on mining cryptocurrency without risks and significant investments. How this is work and why cloud mining is better than classical one?
Classical mining is related to risks that are common for those who used to do mining in the past but maybe surprising for newcomers. These risks are:
- Problems with electricity, especially when it comes to big mining farms the energy system of a house is not calculated for such massive energy consumption.
- The problem of placing a farm. Indeed this problem might seem to be minor, but mining is a complicated process, and video cards will be making noise 24/7 what will be very annoying
- Heating problem. Usually, the normal working temperature of video chips is around 70 celsius, but under the stress, video chips heat up to 100 celsius. Overheating cards can simply burn them out without a proper cooling system, which is linked to additional cost.
- The need of renewing outdated equipment. If you started mining you need to do it in long run, because otherwise, you will get more problems than returns on investment.
Advantages of cloud mining over the classical are next:
- Companies that offer cloud mining services are specialized in this and have an ecosystem adjusted for this purpose. Cooling, placing, usage of well-designed, powerful, and reliable equipment, which cost a lot. All that in case of doing it by yourself is costly and time-consuming, on the other hand, cloud mining companies have done it instead of you, and want just a small piece of income in the exchange for using the equipment.
Reduction of risks. Because of specialization company can deal with all related risks. The experts can take care of the software, they care about cooling, doing machine check-outs, etc. This is a huge piece of work that is done by the company, and customers of cloud mining are free of thinking about it.
