Hello all friends
So this time I want to make the homework for this 5th week given by our professor @besticofinder. The tasks given are:

1. What is Cloud Mining?
2. What are the best cloud mining platforms?
3. Discuss the advantages and disadvantages of cloud mining?

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1. What is Cloud Mining?

Cloud mining can be a mining process for cryptocurrency that is done by renting mining equipment from a third party and is also responsible for maintaining that equipment.

Cloud mining is accomplished by creating an online account remotely in the process of mining cryptocurrency for a basic fee, making mining accessible to many people around the world.

Cloud mining reduces problems such as equipment maintenance or direct energy costs. Cloud miners can engage in mining pools, where they purchase a certain amount of hash power.

2. What are the best cloud mining platforms?

• Crypto Mining Farms

The first mining cloud platform is Crypto Mining Farms, this platform was created in east Asia, Thailand.

You can take this cloud mining service so you can get Bitcoin for free, for those of you who have just joined Crypto Mining Farms, you will be given a speed of 50 Ghs for free for a lifetime.

If you want to get more and faster Bitcoin. You do this by paying the mining developers regularly.

• CryptoTab

The way this Bitcoin mining system works is by generating Bitcoin when you use Google Chrome. If you want to use cloud mining, you only need to install the extension for your browser.

CryptoTab is also still being questioned by cryptocurrency miners. because CryptoTab can only be used by using the browser GPU and not via the browser CPU. This causes GPU with high specifications to increase mining speed on CryptoTab.

• Bitzfree

This free bitcoin mining site you will be given 20 Ghs for free. Not only that, but Bitzfree also provides additional points of 10% every time you enter.

However, before you enter the Bitzfree site, you are first checked whether it is a robot or not. In addition, you also get additional speed in mining by following some of their campaigns such as being a follower on social media and so on.

3. Discuss the advantages and disadvantages of cloud mining?

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• Advantages of Cloud Mining

Cloud mining certainly doesn't make the room noisy, there isn't a single rig standing in your house. Everything is controlled remotely with just a computer. Reducing the electrical load at home, because mining requires large electrical power. So it is not suitable if it is built at home electricity rates. No need to worry about hardware damage or replacement. Because everything has been provided by cloud mining service providers. We are free to do activities outside the home without having to think about the conditions of the mining rig. No need to worry about network problems and frequent power cuts.

• Disadvantages of Cloud Mining

Most often experience fraud or scams, where the web host is not clear and mining operations are opaque. It is certain that the advantages of mining coins are less or less than building your own mining rig. Because some of the profits will be deducted by a daily bill which includes maintenance costs and electricity expenses. Cloud mining contracts may suddenly be terminated due to inappropriate bitcoin prices. It all depends on the market price of bitcoin, a value that is too low is unlikely to cover operating costs.

Conclusion

In cloud mining Bitcoin mining we must have high confidence that we will benefit from this mining process, and we also have to be careful in mining in cloud mining because there are so many losses that we will get if we are not careful.

CC:
@besticofinder
@steemitblog
@steemcurator01
@steemcurator02