Introduction to Cryptocurrency Mining- Cloud Mining | Steemit Crypto Academy | Lesson 5

This is my homework for professor @besticofinder, in the fourth week of Crypto Academy. I'm really glad I'm able to do Crypto Academy Week 5 Homework. I will try to complete the regular homework and understand the information given by the professor.

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Q-1: What Is Cloud Mining?

Cloud mining is a mechanism to mine a cryptocurrency. From here, everyone uses the power of cloud computing and does not directly install and run hardware and related software. Is to take full rent. You first complete the registration by opening an account and allow users to participate remotely in the cryptocurrency mining process for basic expenses. Since this form of mining is done through the cloud, it reduces problems such as equipment maintenance or direct fuel consumption.

Q-2: What are the best Cryptocurrency mining platforms?

Some Best Bitcoin Cloud Mining Platforms

• Genesis Mining
• HashNest
• EOBot
• Hashing24

Genesis Mining :

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One of the most popular and best cloud mining websites in the worl wide. t is dedicated to developoing the the cloud computing power service market and provideing an open and transparent platform. the Conin suport from genesis mining are Bitcoin, Dash, Ethereum, Monero/Monero Classic, Litecoin, Zcash.
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HashNest :

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One of the biggest, multi-billion dollar cryptocurrency mining equipment manufacturers. HashNest has been around since 2014 and has been one of the biggest names in the world of cloud mining. This is a very quality website. I think it's safe to do a lot of cloud mining here. If I've read about this website before. Why only support only for bitcoin mining.
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EOBot :

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This is of particularly good use for those who are looking forward to make a long-term investment into cloud mining for bitcoins. It publishes much faster results than other websites. It provides updates on the mining activity every 60 seconds. This is a very large platform for mining. The biggest thing is that it is possible to get the support of many coins here. It is not usually available on other web sites.
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Hashing24 :

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A trusted name when you thinking cloud mining, Hashing24 has been around for quite some time and has reasonably priced bitcoin cloud mining plans. Customers can mine only BTC.
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Advantages of Cloud mining :

Cloud mining has many advantages. For those who want to mine but do not have the tools they need to mine, this cloud plays a very important role for them. One can collect a lot of data about bitcoin and other points by mining land very easily. Below I will try to give the advantage.

• Inability to counterfeit
• Lower fees to mining
• Access by everyone
• Reduced overall cost
• You can save money by reducing electricity.
• You can solved any high power problem.

Disadvantages of Cloud mining :

Everything has its ups and downs. There are some bad aspects of cloud mining that I will share with you.

• Security and privacy problem
• Data control
• Hacking problem
• Quality of CSP and internet speed access
• Tecniqual problem.

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Thank you for reading my homework. Thank you all very much, especially Professor & my friend @besticofinder.

Cc :-
@besticofinder
@steemitblog
@steemcurator01
@steemcurator02
@stephenkendal

Written by; @msharif