(1) What is Cloud Mining ? (2) What are the best cloud mining platforms ? (3) Discuss the advantages and disadvantages of cloud mining ? done by samuelj

Source

INTRODUCTION
Cloud Mining can be defined as a process or system of mining concurrency through the means of making use of a remote data server with shared processing capacity as it enables people or users to mine their currencies without engaging their hardware. The mining sites are hosted and serviced in a place that is possessed by mining companies and the eligible clients that are interested will needs to sign up in other to buy or obtain mining share . Due to the fact that cloud mining is envisioned as a service, it normally attracts some costs which seldomly leads to lower devident on the parte of the miner.

WHAT ARE THE BRST CLOUD MINING PLATFORM

1SHAMINIG

Shaming is a United Kingdom based mining firm with its farms in London, cape town, and san Joe . It was first initiated in the year 2018 and was regarded as one of the leading platforms best suited for mining activities especially for miners that have minimal or do not have enough knowledge of the crypto mining system.
Clients or users who subscribe to Shamining’s often relates with animated or game-like format mining processing which is the feature that causes Shamining to stand out or to be set apart among others or perhaps among the rest.

2Genesis mining

Genesis mining is one of the leading cloud mining company which renders bitcoin mining task. It invention began in The year 2013, the company became known in the market by offering smart and user friendly investment solutions.
This company has been able to ammence a projection of about 2 million clients from all around the world. As regarding or pataining to hash power, genesis mining can be seen as the largest hash power provider for bitcoin and other crypto currencies.
This platform is one that renders mining in both altcoins and Bitcoin. It is possible to mine a variety of coins at the same time engaging the hash power that has been received. For example, you are permitted to use a variety of cryptos to reduce the tendencies of risk that might be tied to investments. The company tries to get rid of the hassle by taking care of miners and other maintenance issues.

Genesis Mining gives a variety of pricing packages based on the hash power available and the type of coin the customer is interested in mining. When compared to other mining clouds platforms, they are most times on the high side but they make available excellent experience.

3IQ MINING

It is an initiative that began in the year 2016. It is a company that is geared towards providing remote equipment that helps clients or customers to rent them out in order to be part of cloud mining. It is evident to know that within the shortest of time, IQ Mining has captured over40,000 users. There are three basic varieties of packages available that depends solely on your preference, and choice of investment. This packages are as follows

1Gold packages
2Silver packages
3Bronze packages

This packages are all available to any one interested depending on the packages they desire or deem best. The registration is without charge with no subscription fee meaning it is absolutely free.

IQ Mining has a very nice and user-friendly portfolio. As it is situated in Europe, this platforms make available 4 major languages which are Spanish, French, Russian, and Englis. The forecasted profit are quite on the high side which is always what potential users want to be assured of.

ADVANTAGES OF CLOUD MINING

1 electricity consumption

It works this way if you are not making use of the Machines you don't have to border about power input or usage because somebody else is doing that for you which is a big plus

2 Overheating of computer

Over heating of systems is a big problem with all the mining machines in the sense that they get overheated especially when you are living in a town or room that is relatively high in temperature but this is not so with cloud mining as you don't have to border about that

3maintenance cost

In other to perform regular mining which is to take a mining Rig framework which can be done in your home or office, you would have to perform a maintenance check up on it which can seldomly be difficult if you are not technically inclined, but just by using cloud mining service you don't have to border about it anymore

Disadvantages of cloud mining

1 internet fraud stars and ponzi schemes

From the inception of this cloud mining there have been an array or display of websites claiming to render really good cloud mining service but most are scammers and website or internet fraud stars that hope to creat a divergence for their own benefit.

2Centralized mining pool:
Since the farming pool runs on a centralized system, users don't possess the access to their assets till the summation of their contract,which makes it difficult or impossible to withdraw in the case of an emergency

It has been an exciting excapade sir,so once more I deeply appreciate you for this insightful work thanks so much