My Homework Task To Prof. @besticofinder - What is Cloud Mining, Best Clouding and Advantages and Disadvantages

Hello Everyone!!!

I am glad that I'm back here on Crypto Steemit Academy and thanking all who supports my 2 homework tasks last week and I hope that I can make more for this week.

For this article, I will discussing more about Prof. @besticofinder's topic, all about Cloud Mining.

His tasks will be:

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

Cloud Mining

1. What is Cloud Mining?
There were lots of options for us on how earn Cryptocurrencies and one of it is through mining which one type of it is Cloud Mining. Cloud Mining is a process where users will get some part of cryptocurrencies without installing hardware or software unlike the usual type of crypto mining. This is done by renting or purchasing some computing power commonly known as Hash Power which the profit will depends on the amount of hashing power have been rented or purchased. To get started, a user must create an account to the website of the third-party that operates the service then select an option to rent or purchase some hash power. This type of crypto mining makes a trend for a while since everyone is qualified to participate as long as they have rented or purchased some hashing power.

2. Some of the Best Cloud Mining Platform.

Here you can find some of the Best Cloud Mining Platform I've found.

• IQ Mining - This cloud mining platform offers more than 100+ altcoins and some of the major cryptocurrencies like Bitcoin and Ethereum in their services. Unlike other platform, IQ Mining also have an option where users can trade their assets.

• Genesis Mining - Said to be the leading Cloud Mining Platform whose serves clients in more than 100+ countries with their multiple cryptocurrecies cloud mining services. The main goal of the platform is to make crypto mining services available and affordable by everyone.

• HashFlare - This Cloud Mining platform is created by a group of IT Specialist with the main goal to get together all investors both old and newcomers in one mining platform and to be accessible and affordable. They've been offers cloud mining services in some of the major cryptocurrecies like Bitcoin, Ethereum, Litecoin and other Altcoins.

3. The Advantages and Disadvantages of Cloud Mining.

To be aware of what's Cloud Mining can do for us, we must also know its advantages and disadvantages.

• Advantages

1. Less Electricity Cost to get started.
2. No Installation of Hardware or Software
3. No need equipment to maintain
4. It is easy to get started
5. Can quit easily if you want

• Disadvantages

1. Not all platforms are legit that makes into scam.
2. You cannot control your account, it depends to the service provider.
3. Less profit which it depends on the hashing power lend or purchased.
4. There is a possibly of closing the platform without further notice.

Conclusion

As you are into this type of mining, the cloud mining, expect to be risk taker as it is not guaranteed to legit but better to read some news and information about the platform before getting started. Cloud Mining is also a great platform but as I always want to say, be ready to face whatever may happen.

This is the end of my homework task for Prof. @besticofider's lesson 5 all about Cloud Mining. I hope and pray that this will be accepted.

Thank you very much and until next week's lessons and homework tasks.

Thank you to all who supports this project, to Steemit Team, @steemcurator01, @steemcurator02, @steemitblog and to all the Professors.

To God be the Glory!!!

Your Student

@godlovermel25