WHAT IS CRYPTOCURRENCY MINING : A GUIDELINE

Today I will talk about crypto currency mining
cryptocurrencies like Bitcoin, Etherium, Ripple, Bitcoin cash and litecoin etc have been quietly growing. People buying and selling them at large scale. At present different countries are thinking to regularize the crypto currency and many countries have been regularize it like Japan and America. With the passage of time, demand of cryptocurrencies is increasing manifold. Unlike paper currency, bitcoins or alt-coins are generated through a process known as 'mining'.
Friends, in this blog I will explain you that what is cryptocurrency mining. First of all I will explain you a little what blockchain is. Blockchain is a technology that supports cryptocurrencies. It is a public ledger (decentralised register) of every transaction that has been carried out in that cryptocurrency. These transactions are assembled into called "blocks".
Friends there are two ways how you can mine crypto currency, namely HARDWARE MINING AND CLOUD MINING
First of all I will discuss about HARDWARE MINING.
The Mining setup which you built at your own may be at home or some where else is known as Hardware Mining.
HARDWARE MINING

1. You will be owner of whole project
2. You can supervise the whole mining process.
3. You will be the sole recipient of all the mining you do on your own hardware.
4. You get the excitement and experience of building a mining rigs setup using equipment of your own choice.
5. You play an active role in the mining activity as compared to just signing a contract and sitting back and waiting for the payout.
6. It is more rewarding then cloud mining.
7. You will be more knowledgeable about how mining works in general and how some hardware can be more efficient in mining than others.
8. You own the hardware and you have control over whether you want to sell it to recover initial startup costs.
9. You can set up your own mining schedule according to your preference.
10. You won’t have to risk signing a contract with a fake cloud mining company and lose your hard-earned money.
11. It consumes a lot of electricity
12. Hardware creates so much noise.
13. There may be need of maintenance of your equipment.
14. There are dust and heat problems on hardware equipment as normally environment is not fully controlled.

EXAMPLE OF HARDWARE MINING
CLOUD MINING
This method of cryptocurrency mining is to invest with company who has the necessary mining equipment is called Cloud Mining. You earn digital currency and pay for services, which include electricity, hardware maintenance, operation, etc. The fees may vary because of changing variables.

1. You need to buy a “contract”. You won’t need to save up for initial costs of buying the needed hardware and having it delivered.
2. Electricity and maintenance costs are much lower as these cloud mining companies’ data centers are located in countries that have low electricity bills.
3. You can get special promotions and offers from legitimate cloud mining companies, which means you can get access to special hash rates and contracts at low prices.
4. Cloud mining doesn’t suffer from a declining hash rate. Hardware efficiency and environmental factors allow for a steady hash rate over time.
5. You get the maximum hardware lifespan of 2 years assuming the rig is working non-stop 365 days a year.
6. You won’t need to clear up space for the mining rig.
7. You won’t have to deal with the noise a mining rig generates.
8. You won’t have to maintain a mining rig and making sure it works properly. 9. You won’t have to dust or spend extra time cleaning the hardware.
9. You can start Cryptocurrency mining right away without investing heavily to build a powerful mining rig.
10. You can bypass country restrictions where cryptocurrency mining is prohibited.
11. Payout is automated each and every day.
    
    EXAMPLE OF CLOUD MINING
    CONCLUSION
    Now you know the difference between cloud mining and hardware mining. You should also have an understanding of each mining method. The good thing is that both mining types will bring you extra income. If you are professional and have time, initial investments costs and space, hardware mining is better for you. If you are not professional and not have initial investment cost then cloud mining is best for you. As of now cloud mining looks to be better than hardware mining because you can buy contract as per your requirement and the payout is profitable. Choosing either one guarantees success because cryptocurrencies are the digital money of the future.
    If you wish to know about some legit cloud mining companies, you can contact with me on whatsApp+923006887023.
    Hopefully, blog will be informative but suggestions to improve the skills are always welcome.