What is Cloud Mining
Cloud Mining is the process of bitcoin mining utilizing a remote data-center with shared processing power.This type of mining allows users to mine bitcoins or alternative cryptocurrencies without having to manage their own hardware. Since Cloud Mining is provided as a service there is generally some cost and this can result in lower returns for the miner.
There are many cloud mining scams!!
Pros & Cons
- No configuration of programs or equipment
- No messy algorithms involved
- No need to manage equipment
- Easy to maintain and transfer funds
- Management costs- hardware and software
- Security- some mining pools are scams
- No control
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