Today I will try to discuss the question of the homework professor @besticofinder, so immediately I'll break it down one by one.
Cloud Mining
Cloud mining is a remote mining process offered by cryptocurrency mining service providers to cryptocurrency miners. It can be said that this is a process of mutually beneficial cooperation if it is carried out in accordance with procedures. So cryptocurrency miners don't need to install mining tools as usual, all they need to prepare is a computer device to access cloud mining, so miners choose and make contracts with service providers that they think match the benefits they will get. In this day and age there are many service providers that offer mining in cloud mining, so miners must be careful in choosing who they collaborate with, don't expect profits but the opposite is true.
The Best Cloud Mining Platforms
Hashing 24
Hashing 24 has been around for a long time in cloud mining, namely in 2012, so it can be said that this is one of the best and most trusted platforms, its advantages are fast withdraw process and stable hashpower.
Hashflare
Hashflare is one of the most experienced companies in the digital currency mining sector. Hashflare is a subsidiary of hashcoin. The advantage is that the mining process is fast and the withdraw process is also fast.
Advantages and Disadvantages of Cloud Mining
Advantages of cloud mining :
Cryptocurrency miners no longer need to prepare a room to mine, usually miners use the room to fill mining tools such as computer devices. Automatically it has reduced the initial capital of the miners, by not doing mining at their place, the miners no longer need to think about electricity costs, a strong internet network and others that are needed.
By not carrying out the mining process at the place they provide, other risks are also avoided such as theft of expensive hardware and fires caused by electrical short circuit.
Disadvantages of Cloud Mining :
Talking about the benefits that miners get, there are definitely downsides, because miners don't need a large initial capital. So the benefits are not too big because the profits are definitely shared with service providers who cooperate with them according to the agreed contract.
In choosing a service provider for cloud mining, miners must be careful in choosing, it could be a company that will deceive the miners into taking the miners' investment capital.
maybe this is all I can cover on this week's homework. see you again next week....
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