Hello and good day to all !

Today I am here and doing my home work task of week #5 which is cloud mining and it is lectured by @besticofinder.
I am not and experienced person in crypto mining but I have done a research for cloud mining and here I present my homework task for week #5.

CLOUD MINING

Cloud mining is a type of mining in which you don't need to buy an expensive computer and rigs system for mining like physical mining system but you will have to rent a whole mining system with all the computers and rigs for mining, in this type of mining you will be able to do mining by not buying anything but only renting. All the mining system will be some one else but you will be using it for your mining without buying any specific hardware for your mining. Also cloud mining you will not do anything with the hardware as in cloud mining they do it for you. In this mining you will rent the mining system from different companies and there are various companies which provide cloud mining system to you.

TOP CLOUD MINING PLATFORMS

There are various cloud mining platforms, mining platforms are many but you cannot trust all of them as you have to take if the company is well known or it is just a scam so you will have to take care of this thing a lot. Here I will discuss the top mining platforms with some explanation to let you understand cloud mining in simple words.

1. Genesis Mining

Genesis mining is one of the best top mining platforms in the world, Genesis is known as the most profitable mining platforms from where you can earn a great amount of money by investing in it. In this cloud mining you will purchased a contract for year and they will give you profit on daily basis. Genesis mining have store the largest and highest hash power and that's why it is more profitable platform than other because it deals with the very expensive miners subscriptions.

Source

2. IQ Mining

Another very popular and great cloud mining platforms in my point of view is IQ mining which is now growing rapidly with time. It was come into being in 2016 and it comes after Genesis mining. IQ Mining provides the users different type of packages which they will have to buy and than according to that they will get their profit. IQ mining is also really great for all the newbies because it provides you a hardware which will automatically mining for you and you will not need any kind of experience to do this. It will give you profit and will not require any extra time for doing cloud mining at all.Source

ADVANTAGES OF CLOUD MINING

Cloud ,mining has given ease to all the crypto miners as it provides you all kind of stuff and do all the work for you and thus have many different advantages here I will discuss some,

1.No expensive device needed anymore
By cloud mining we get ride of buying all the very expensive devices such as computers and rigs for mining and it is provided to you by the cloud mining companies from where you are renting the system for your mining.

2. No heat generation problem
Heat generation is one one the biggest problem every miner face and it is because mining computer will have to stay on for 24/7 hours and off course it is machine and heat up when it is used continuously but if you will not any computers or rigs at your house how will you face any heat generation problem so you have this advantage in cloud mining.

3. No electricity cost
Electricity cost is one another big problem a miner face, miners are making money from mining but at the same time they getting high electricity bills which is a big problem in mining and cloud Mining solves this problem because your computers system will be controlled by the cloud mining companies and you will be free of this problem.

4. No maintenance problem
If a miner is mining it is a usual thing that if your system got some problem and than you will have to fix it or get a new hardware so in cloud mining you will get ride of the maintenance problem, if your system get any problem the cloud mining platforms they will fix it and you will be free of maintenance problems.

DISADVANTAGES OF CLOUD MINING

Everything in this world have advantages as well as disadvantages so there are very few but I think some big disadvantages of cloud mining which is that you don't have any computer in your own computer so you cannot check weather your coin is going high or low and also cloud mining is a kind of virtual mining in which you can also get scam by different fake companies and by this you cannot control your earnings and scammers can give you a big loos.
One more disadvantage of cloud mining is that you will have to give some % of your profit to them from where you have rented your mining system and I think in physical mining you don't worry of sharing your money with some one else.

Professor @besticofinder here is my home work task for week #5 topic crypto currency mining part-2 which is cloud mining.

Special Mentions To @steemcurator01 and @steemcurator02 to get their support.

REGARDS
🌸 @janemorane 🌸