Everything About Cloud Mining, Pros and Cons of Application

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Bitcoin mining remains a quite popular activity since the cryptocurrency reached its all-time high of almost $20,000 in late 2017. Aside from traditional ways of getting crypto, customers can approach special companies offering cloud mining services. Here is a list of the major advantages and disadvantages of this virtual way of making crypto.

What is Cloud Mining?
It is the process of making Bitcoin, Ethereum, Litecoin, Zcash, Dash and other cryptocurrencies, using special cloud services that accumulate power in their data centers and farms. This is a new model of earnings, which creates groups (pools, farms), with one goal: to generate more income, compared to conventional distributed making crypto, at the expense of equipment being managed by the contractor, who solves all the issues of the technical and software character.   

Going into detail, an entity that offers a cloud service has one or more farms scattered around the globe. All the ASICs and devices for mining Bitcoin or altcoins are placed inside of them. So, if a company sells a total power of a PetaHash/s (or 1000 TH/ s) on its site, it must have a corresponding number of machines to deliver a total hashed power of a PetaHash/s.   

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/cloud-mining-application/