what is cloud mining

 first you will have to understand what is mining and I hope that you have attended the last week class From that you must know what mining is mining of cryptocurrency if you still don't have any idea you can go to my profile in check out my homework I have explained everything

Cloud mining basically is there are many companies so what they do is  buy computers and   GPU  and setup them for mining not just one or two computers I mean we are talking about a lot of computer you may have heard of farms yeah it's that  big after setting up what they do is they will tell you if you want to rent their computers for mining just like we rent other things it's that simple so they will do all the work for you if something goes wrong if the computer goes down or electricity goes down and you don't have to worry about all these things they will do everything you will just have to pay them a specific amount of money  which they call a contract just like you buy internet package from your internet provider it's that simple you basically rent hash power To mine Bitcoin or any other cryptocurrency so you don't have to worry about anything at all but you know no if you are mining on your own there are many things that you have to take care of first thing first not everyone knows how to setup mining Rig even if somebody else do it for you whatever there is some problem with it you will have to call that person to fix it and you can't afford it to stop for a few minutes because each minute is important in  cryptocurrency mining so in that case cloud mining is  heaven for all the people home don't know how to to setup for mining rate but they want to give it a try so that is basically cloud mining

What are the best Cloud mining platform

1 Genesis mining

2 Hash Flare 

Let's first talk about Genesis mining  this is the company or the platform you can say they are the most trusted and well 

1  Known company in the  the business of cloud mining because they are working for like many years I never used that personally many people that I know they are using it and they said it's good and round about 1 year ago when I was interested in cloud mining I did a little bit of research and  it turned out that this one is the best one out there There are a few reasons why people trust them because they have put out all their photos videos and how they work on internet of course there is no proof people don't trust I think that the the best thing about them that they are  showing there uh formed to all their customers and to the world So for me Genesis mining comes first

2 Hashflare Is the second biggest platform for cloud mining according to me up chords I'm not saying that it's second it can be ok so so they've been in the game since a few  and they are also doing very well I mean if you go to their website most likely you will find all the big contracts are out of stock because of their customer base they've got a lot of customers so I cording to me me and my knowledge I think hashflare Is also one of the biggest and one of the best platform for cloud mining 

The advantages of cloud mining

 1 electricity consumption

now if you are not handling the Machines you don't have to worry about electricity consumption somebody else is doing that for you that is  a big advantag

2  maintenance cost

 if you do regular mining which is to take a mining Rig setup it in your home or office whenever you want you will have to to do maintenance of it which can be difficult if you are not a technical guy now if you are using a cloud mining service you don't have to worry about that at all

3  Overheating  of computer

this is a really big problem with all the mining machines that their get overheat if you are living in a city or very well if it's not cold then it will overheat now if you use cloud mining you don't have to worry about that that is a big advantage 

Disadvantages of _cloud mining

1  fake website and ponzi schemes

since the start of this cloud mining there have been many websites  claiming to provide really good cloud mining service but they are all fake will most of them are they are ponzi schemes which means that they will give you a little bit of money but once they know that they are not getting anymore customers they will go along with your money

2   control of the machine

 ok as the name says it's cloud mining so you don't have any control over your machines that you have rent in physical mining you have control over everything you can check if it's working fine you can clean it you can locate it Basically you don't have any control over the machine that's a big disadvantage that you should keep in mind

3  Less profit

 this is the biggest disadvantage that mostly people don't look at I think if you are taking a cloud service and if they are providing all these things of course they will make money and they will make money out of you so if you do the same thing at your home or anywhere else you will get double of the profit as you are getting on cloud  mining so that is a biggest disadvantage 

Thank you so much for reading I hope that you have learnt something

Special mentions to @steemcurator01
@steemcurator02 To get their support