Before we get into cloud mining and how to make money on it, we need to look at the fact that digital currencies and bitcoins have long since established themselves among modern financial market investors and are well established. Has proven to be a network of payment and virtual money. Every time a new industry and technology is introduced to the world, a series of old businesses collapse and a number of new jobs and new ways of earning money come into play.
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In this article, we want to deal with one of these new businesses and modern income methods and try to introduce it to Nova Trader users from garlic to onions. As you know, the more accurate name for digital currencies is cryptocurrencies. For virtual reasons, these virtual currencies need to be encrypted by a series of very complex algorithms, and to perform transactions on this platform, they need expensive and advanced processing equipment called miners.
The Role of Miners in Cloud Mining
In order for a transaction to take place on a blockchain platform and digital currency, complex mathematical equations need to be solved, hence the need for miner devices that are optimized to perform these mathematical equations. The Bitcoin network rewards Bitcoin with all the devices that people give to the system to make transactions easier. For this reason, there is a great demand for the purchase and operation of miner and cloud mining devices .
But using these devices is not everyone’s job and in addition to the need for high knowledge and experience in hardware and software, there are many risks and hassles for those who are interested in this job. Mining exploitation risks include the following:
- Very high amp power consumption, which makes mining at home and at work and many other places practically impossible.
- The need for constant inspection and monitoring of mining pools for regular changes between them, which leads to better efficiency of the device.
- Consecutive failures of devices if they are not maintained in perfect conditions and high cost of repairing them.
- Staggering electricity costs due to power consumption of the device and cooling and air conditioning equipment.
- Legal troubles of setting up miners
- Ability to steal devices without a way to track it
- And another thousand and one problems that are in the way of those who are interested in this business and pave the way for cloud mining.
So what is the solution?
The best available solution that started from the very beginning of this industry in the world is the business model of Cloud Mining . Bitcoin mining farms are always grappling with the lack of liquidity. This problem may seem silly at first, you may be wondering if mining farms are not making a profit? So what does lack of liquidity mean?
Here we must remind you that many people who are engaged in mining and cloud mining have full faith in bitcoin and the revolution it has created in the world. They know full well that the price of this digital currency will rise a lot, so they are not interested in selling their bitcoins. Even to the extent that they are not willing to sell their bitcoins to cover their current expenses such as electricity, internet, repairs, manpower and!!
These people have come up with smart solutions to cover their costs. Because they have the necessary infrastructure, they rent the processing power of the devices, just like renting a host or a server. For example, suppose each miner processing unit (equivalent to 1Th / s = 1 turnover) is equal to $ 30 for bitcoin farmers with its operating costs over 2 years, now these loved ones are renting the same 1 turnout For $ 40 to $ 50, they can create a good cash flow that will cover their current expenses as well.
Is Cloud Mining Safe?
Let’s be honest with each other. The answer to this question is no in the face of any business (!) Unless you enter the business intelligently and with an open mind and careful market surveys. Unfortunately, Claude Mining is not far from the scam of scammers, and there are many sites on the Internet that raise large sums of money with colorful and deceptive advertisements. But there are also reputable companies that have tried as much as possible to achieve high transparency with various licenses and trust symbols so that those who are interested can do so safely.
As much as we researched and tried, like a Forex broker or the best digital currency exchange, to experiment fairly and accurately with various sites, we came up with the following and share them with you. Of course, this is just an introduction and not a recommendation to buy or invest. Among the various cloud mining companies, there are a few companies that are operating legally and completely valid, which you can see below:
- Gensis-Mining.com The company, which is based in Iceland, is the most reputable bitcoin mining site in the world and offers good prices. The only thing is that you may no longer have access to your miners on this site every day due to sanctions!
- BigBangMiner.com is a site that has not been established for a long time, but in this short period of time, it has been able to earn a good reputation. According to our research, due to the activity in the free zones (Offshore), it will not create any restrictions for any person and it has a very high reliability compared to other sites. It also has very good conditions in terms of price.
- HamyarMiner.com This Iranian cloud mining company has farms in Georgia, Tajikistan and Uzbekistan and offers highly competitive prices compared to foreign sites. In the field of gaining the trust of customers, it has been able to shine brightly and provide internet licenses and symbols of trust.
- HashFlare.io is also a company that offers good prices but for some unknown reason stops selling every once in a while. However, due to the unknown identity of its owners and offshore activity, it can be said that it has a lower reliability than other options, but it has gained a good reputation among foreign customers.
We hope that with this brief and useful guide we have been able to portray this attractive business environment well for you. what is your opinion? What company are you cloud mining with? In the comments section, write to us about your experiences in this regard.
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