Cloud Mining - Pros and Cons | Litecoin Сlub

Cloud Mining - Pros and Cons

Cloud Mining - Pros and Cons

As you know, "laziness - the engine of progress". But not in the earning of money. Search Google and Yandex - they are full of headlines "Quick earning at home" and "How to make money without investing". Many people make their choice in favor of cryptocurrency, but until the end, not being sure - is it possible to earn in this way. Yes, it is! And you can earn quite a lot, but it also requires strength, knowledge, investments and patience.

Those who deal with cryptocurrency know several ways of earning: you can earn, buy, sell, store and play at the markets. However, cryptocurrency miners know that it is - not a cheap pleasure, because equipment for mining is quite expensive.

To simplify the process of crypto gold and silver mining, miners have pooled with their equipment in order to extract "coins" faster, albeit in smaller amounts.

There are also miners, who are not willing to invest thousands of dollars in equipment, but they also want to join the production of the new generation currencies. For lack of funds, they are turning to the cloud mining services, who provide rental of their facilities.

How does Cloud Mining works?

At the dawn of cryptocurrency mining, miners could use their processors and graphics cards. But time does not stand still, cryptocurrency rate increases, and on the home production of coins began to leave more time and money. Thus, mining on an usual "home" hardware became inefficient and unprofitable. To cover all the costs and start earning, miners began to improve their farms: by new expensive graphics cards, processors, cooling systems, insulation, etc. Some of those, who can afford a special "unit" for the mining of "coins" - "ASIC", gave a lot of money (from $ 1,000 to $ 100,000) to mine more quickly and better.

Then, the producers of cryptocurrency production "monsters", have offered miners a service "Cloud Mining". The software companies have created special data centers with cheap electricity and maintenance of equipment, and then sell it to miners, taking a small fee.

Cloud mining became very popular among miners, because they avoided many thousands of investment in equipment, relieves theirs families on the 24/7 buzzing of "home" farms and did not pay huge electricity bills.

But, as in every sphere where man has gone before, without deception or fraud has not been - eventually, began to appear dishonorable services that have earned money on miners trust. Since the whole production is "remotely", to check the cloud services accuracy of the actions is not possible.

In order to avoid being caught by fraudsters, before giving money to the "cloud" hands, you should be ensured in theirs reliability.

There are various lists of proven services, where you can find the most authoritative. In addition, some thematic forums, where miners discuss services and share their own experience with them, also could help.

Among those, who have won the trust of Litecoin-miners, there is Genesis-mining. This service is characterized by high-quality equipment, user-friendly interface and high level of reliability. You can conclude the contracts for 1 year or for life.

As for other services, for example: Cointellect, Eobot, HashOcean and Terabox, the network and online forums began to talk about that such "cloud" services stopped paying money and trying to deceive the miners.

So, it is your business - how to make money, but be careful and attentive, when choosing a server for extraction treasured coins.