Introduction to Cryptocurrency Mining - Part 2 | Steemit Crypto Academy | Lesson 5 @besticofinder

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Homework Task 5

Hello, dear teacher and community, today I come more animated, today I will talk about topics related to cloud mining and its different platforms, I hope to make clear and well organized everything.

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(1) What is Cloud Mining ?

mining in the cloud, is the solution to mine cryptocurrencies through an intermediary who has the equipment in a certain location, to rent you the hash power you require, it is a way to mine without having to buy the equipment that are currently quite expensive, this process is executed from an operations center completely remotely.

to mine in this equipment you only have to enter the platform, register and buy mining power that generates profits in a certain time.

How do the companies that provide mining services in the cloud work?
these companies like any other serious company has high-tech equipment capable of solving algorithms very quickly and has large air-conditioned infrastructure cleaning and maintenance staff, pay basic services such as electricity what they also want to provide this service is to minimize the risk of losses. so they place a minimum withdrawal limit each platform has its rules ...

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(2) What are the best cloud mining platforms ?

Nicehash platforms:

functions as an intermediary platform buyer seller buyer
investors have the freedom to choose how much power to buy, the time they need this hash power, the amount to invest, one of the most interesting things is that regardless of the currency you put to mine the payment comes out is in BTC, when you rent the mining power only accept payment in BTC.

the servers are all over the world china, india, japan, brazil, united states. its official name is Nicehash in europe in usa is westhash.

Genesis Mining:

this cloud mining platform is the first to invest in real mining equipment for its investors on the platform, as for its security is very reliable is a legitama company that has created an unsurpassed reputation .
With respect to the currencies that the company includes are Bitcoin, Ethereum, Zcash, Monero, Litecoin and Dash. works with the purchase of plans offered by the company. and categories such as GOLD - PLATINUM - DIAMOND - CUSTOMIZED. has 16 combinations available.

Eobot platforms:

was created in 2013 is a cloud mining company USA "ad-blocks" its contracts for mining very easy to use as you can hire them for 24 hours or more than 5years is a very organized platform easy to navigate has programs to calculate the rates as to the power of haspower you buy the period to reach the break-even point is quite high up to more than 52 months.

ScryptCube

is a cloud platform is in the highest rankings in the cloud 2121 is very easy to use the company has a very large infrastructure, and the contract prices are very affordable, allows to evaluate the platform as a method of (test) which they use to attract investors and show their operation with very little capital.

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(3) Discuss the advantages and disadvantages of cloud mining ?

Advantages:

the advantage generated by these cloud mining platforms are basically very simple, they are easy to use, pay in btc, have good infrastructure for the proper functioning and qualified personnel, some companies have large servers in addition to plans and attractive incentives for the customer or users use powerful protocols for security, in addition to using equipment through service plans that are located in different parts of the world and are connected through a server to make mining easier for the customer.

Disadvantages :

first you do not have access to the physical equipment, some platforms are limited to the mining of a single currency BTC, it is difficult to calculate the mining result to be obtained, in some cases the platforms do not have the following advantages

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This is my contribution today for the crypto community I thank professor @besticofinder for this masterful class of cryptocurrencies that I will continue to learn more and put it into practice in my personal actions, very grateful.

Cc:
@steemitblog
@steemcurator01
@steemcurator02
@besticofinder

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