Clouding mining

crypto mining means gaining cryptocurrencies by solving cryptographic equations through the use of computers.
This process involves validating data blocks and adding transaction records to a public record (ledger) known as a blockchain.
In a more technical sense, cryptocurrency mining is a transactional process that involves the use of computers and cryptographic processes to solve complex functions and record data to a blockchain.

Assignment 1 <
What is cloud mining?
A cloud mining is of the types of mining.

----- Cloud Mining is the process of mining concurrency utilizing a remote datacenter with shared processing power, this type of cloud mining enables users to mine bitcoins or altcoins without managing the hardware.

   >Assignment 2<

-----The Best cloud mining platform to start cloud mining, there are various top legit cloud mining sites that ensure the best security for your assets and provide a comprehensive list of features. The following are the best and top-rated Bitcoin cloud mining websites in the market.

1. IQ Mining

The company provides remote equipment enabling users to rent them out to join cloud mining. Within a limited time, IQ Mining has grabbed almost 50,000 users. There are three different packages available depending on your wishes and investments.

Bronze Packages
Silver Package
Gold Packages
There are many cryptocurrencies available from which you can choose for mining. The registration is free with no subscription fee. There are smart contracts available to reduce the risks.

IQ Mining has a very soft and user-friendly interface. As it is based in Europe, the platforms provide four major languages (French, Spanish, Russian, and English). The profit forecasts are quite high compared to investments which are not understandable. The platform is suitable for small investments until it gains more acknowledgment from customers. read this guide for best ethereum cloud mining sites

1. Genesis Mining
   Genesis mining is one of the largest cloud mining company that offers bitcoin mining projects. Founded in 2013, the company held its reputation in the market by providing smart and easy investment solutions.
   The company has over 2 million customers from around the world. When it comes to hash power, genesis mining is the largest hash power provider for altcoins and bitcoin.
   The platform offers mining in both bitcoin and altcoins. You can mine different coins at the same time using the hash power that you owned. For instance, you can use different cryptos to diversify the risk of your investments. The company takes care of the miners and maintenance to get rid of the hassle. it provides numerous pricing packages based on your hash power and the type of coin that you are interested in mining. In comparison to other cloud mining platforms, they are a bit expensive but they provide excellent experience and support.

2. Shamining
   Launched in 2018, the United Kingdom-based mining field Shamining with its farms in London, San joe, and Capetown is one of the best-suited mining platforms for miners with minimal knowledge of the crypto mining process.

3. ECOS is one of the best cloud mining providers out in the industry. It was established in the year 2017 in Armenia in the Free Economic Zone along with an agreement signed between the Government of Armenia and the company behind this cloud mining provider. ECOS was developed in a bid to cover the needs of clients whose taste is in cryptocurrency cloud mining and who want to get relief from self-mining. Apart from having headquarters in Armenia, the company also has a head office in the country of Russia as well.
   ECOS is a cloud mining provider you may trust as it is one of the first cloud mining providers that are operating with legal status. Considered as one of the top cloud mining providers, ECOS offers its clients cloud mining services for only one digital currency that is Bitcoin the world’s largest cryptocurrency in terms of market capitalization. Currently, the company is offering its services to over 40000 users from across the entire world.

The company offers a vast variety of mining contracts to users. The minimum price for a mining contract that has been specified is approximately $125. This contract remains active for a time period of six to fifty months. There are different options available for you that you can use for deposits or withdrawals. These include Credit Cards and cryptocurrencies such as Bitcoin, Ethereum (ETH), XRP, and Litecoin (LTC).

advantages of ecos that you can get while mining with ECOS. One of the advantages of mining with ECOS is that new users will get a one-month free promo contract. Other advantages include tax incentives, affordable electricity, operational support, modern equipment, and a wide range of contracts.

1. Crypto Universe
   Live since 2018, the crypto universe is another cloud mining project that allows the users to earn crypto mining with profitable plans and contracts.
   The platform mainly provides its services in the Russian federation. The electricity rate is low in the northern region and it’s a big advantage for the crypto universe. There are 3 different plans are available named standard, VIP, and the tariff 2025 for long-term benefits.The users can mine through 2 types of contracts “Cloud Miners” and ‘BTC Mining”. The platform lets its users buy equipment for mining. The users can resell the equipment to miners and can take their funds back at the end of the contract.
   As the crypto market is booming, the value of mining equipment is increased and it can give users an extra margin on profit. The interface of the website is quite user-friendly. There are a bunch of plans available with low investments and no hidden charges. There are numerous crypto affiliate programs available through which customers can earn.

2. HashShiny
   Hashshiny is a mining platform for mining Bitcoin (BTC), which is safer to use and works faster. It was developed in the year 2017, and since that time, it is working in the industry, offering cloud mining services for cryptocurrencies, including the world’s biggest cryptocurrency, Bitcoin. The developers of HashShiny claim to have developed the top cloud mining platform of the world integrated with up-to-date deployment technology.
   It is one of the top cryptocurrency cloud mining platforms present out there. It offers around 1.5 percent of the Bitcoin (BTC) hash rate of the world.
   Hashshiny.io is currently supporting various major cryptocurrencies, including the leading digital currency bitcoin (BTC), the second-ranked cryptocurrency Ethereum (ETH), Zcash (ZEC), Litecoin (LTC), Dash (DASH), and Decred (DCR).

3. Hashing24
   Hashing24 is the most common Bitcoin cryptocurrency platform that provides legal cloud mining services. The organization has been running since 2016, and its research team has been focusing on the demand for cryptocurrencies since 2012.

Hashing24 is officially based in the United Kingdom, Thailand, and Ukraine. In comparison to other platforms, hashing24 provides unlimited contracts for its users to invest in.

On hashing24, there are no fixed contracts. The customers select the hashing power and the method of payments by themselves. They can choose their desired plan depending on the forecast profit. Bitcoin is the only currency that they support in their available cryptocurrencies. The company pays its customers without any delay.

1. Hashflare
   Somewhere around 2015, the site launched its services to its users and has grown enormously since then. Currently, the site has around 1 million visitors every month.

Hashflare is a service that offers cloud mining contracts. The users can mine five different cryptocurrencies via this platform i.e. ZCASH, DASH, Ethereum (ETH), Litecoin (LTC), and Bitcoin (BTC). The platform offers different pool mining solutions. You can decide your own customize pool based on your preferences and Hashrate.

The profit is distributed to all customers based on the Hashrate. The best thing about Hashflare is that you don’t need big investments to start. The payouts are very transparent with different payment methods. It offers real-time mining statistics so that you can easily track how much profit you have made. here is our guide to the best places to buy bitcoin in 2021

1. BeMine
   Established in early 2018, BeMine provides its services in Russia and CIS countries. They were pioneers of cloud sharing of ASIC-miners, making the opposite thing compare to selling mining contracts. BeMine operates more than ~70,000Th/s placed in Irkutsk, Moscow, and Chelyabinsk region, in Siberia, even in Almaty, Kazakhstan and they keep scaling.
   BeMine unites Russian data-centers, as well as miners and individuals who want to participate in cryptocurrency around the world. Miners are invited to store their equipment in partnered data-centers, while users can purchase and store mining equipment, without the need for personal presence during the purchase, transportation, installation, configuration, and maintenance of ASIC.
   If you don’t want to purchase the whole ASIC-miner, you can also try with its shares. BeMine can sell up to 1/100 share of exact ASIC for a reasonable price, which may become a very useful way to start a coin mining experience without the necessity of purchasing a whole expensive machine itself. But if you have the whole one, you can also purchase door-to-door delivery of ASIC. Now they even have fare cloud contracts with deposit extraction.

2. Eobot
   Eobot is a cloud mining service provider and crypto exchanger. It was launched back in 2013 in the USA. Despite using this platform in the web browser, Eobot is also available on both android and iOS.
   Since the launch, Eobot has over 2.2 million users with hundreds of thousands of active users daily. It also facilitates real-time trading through various digital assets. Eobot provides innovative mining services for its users with a wide range of tools. It provides a wide range of cryptocurrencies

[]

      > assignment 3<

The advantages of cloud mining are

1. reduce overall costs associated with mining and allow everyday investors, who may lack sufficient technical knowledge, to mine cryptocurrencies.

2. The remote datacenters are built in places with the cheapest power. So, it might cost you less in the long term to cloud mine than to pay for the electricity where you live

3. Cloud mining is silent, but mining ASICs are very noisy! Because they generate a lot of heat, they typically have a lot of fans running and sound a lot like vacuum cleaners

4. With cloud mining, you don’t have to deal with the heat. When you run physical hardware, managing the heat is troublesome. Typically you will need to buy duct fans and blow the heat out the window. These fans also add to the noise and require additional power.

5.Cloud mining does not require rewiring your house to run your own ASIC, you might not have the right kind of power outlet. Many mining ASICs require 220V power outlets. In the United States, we typically have 110V outlets.

The disadvantages of cloud mining are that the 1. practice centralizes mining to farms and profits demand.

1. Some cloud mining functions tend to commit fraud when the miners.
   Many companies that have popped up that exploit newbies, making it hard to find a trustable
   provider

2. Your hands are tied to the decisions of the provider.

3. You cannot upgrade the gear yourself.

4. Lower profits long-term
   You rely on a cloud mining provider that can close down anytime in case of too low of a price on Bitcoin