ᐈ What is cloud mining | official Bitcoin exchanger BUYBank

Bitcoin mining

What is cloud mining?

Cloud mining is one of the methods of mining such cryptocurrencies as Bitcoin, Litecoin, Ethereum, as well as others, depending on the service.

Unlike classic mining, when you need to buy the equipment yourself, cloud mining involves the use of special cloud services that accumulate power in their data centers.

Cloud mining is considered one of the best ways to make money on cryptocurrency, as it frees the user from round-the-clock control, large electricity bills and other difficulties of classical mining.

To receive income on the go, you need to redeem a contract for a certain amount of hashrate from companies that have large data centers with ASIC equipment. You can start with 100-200 dollars and gradually increase momentum.

Such enterprises make it possible to use their hash rate (power) for a certain period of time, but for this you need to draw up a contract. This is a new cryptocurrency mining model that has quickly become popular.

How much can you earn on mining?

What do I need for mining?