Crypto Currency Cloud Mining

Cloud mining is providing of companies equipment capacities for crypto currency generating for a fee.  Management is proceeded through a website and is simple. You are choosing currency for mining, attentively read the contract, make a payment and watch as your assets are growing. Separate payments are deducted for equipment depreciation and electricity consumption. These may be several percent of generated per day. Sometimes in contract is an issue that if electricity bills run higher than coin’s cost, it’s generation stops. Contracts for crypto currency mining are either for several years, or perpetual. 

Why did cloud mining appear?

If to look back at the history of the first crypto currency, Bitcoin, at the beginning of generation even PC’s CPU could be used. Due to algorithm,  the more people are generating crypto currency, the harder is to get a new block. People started exchanging Bitcoins with each other — for example, well known story about pizza for 10,000 BTC.
Through the time users optimized generation algorithms and adapted them for mining on video cards, that gave them advantage over CPU mining. At the same period of time crypto currency stock exchange already existed, so first GPU miners earned hundreds of dollars on a new method. They knew that they can earn more, if had more then one PC for mining. So crypto currency farms appeared. At that moment it was almost impossible to generate coins on a separate device, and soon users developed a solution, pool, where people would share their capacities for generations for reward — simple decision everyone likes. At the same time pools provided instruments for generating coins over them. 

Any person can keep a couple of PС or several devises for mining. But appeared people, who were buying premises for keeping truly huge farms for crypto currency generation, seeing future in them. Than not so enterprising users created demand for capacity rent. That how cloud mining appeared — there are capacities connected to pool (you’re often allowed to choose through what pool you will be mining), you pay for their work, but they don’t heat your living room.

Why crypto currencies are reliable?

Talking of Bitcon, it is based on fact that maximum number of coins is limited and known from the very beginning. More mines in system — harder to substitute the code, as for implementation of it 51% of users should voluntarily support that process. In comparison with a county, where only small group decides to produce a new currency, Bitcoins are incredibly reliable. Fake coin can not be generated, and ‘wrong’ transaction can’t be performed, as it requires acceptance of participants algorithms. In fact, all the users installed Bitcoin wallet, store all the transactions list from the day of Bitcoin foundation. 

We provide you a short list of the most popular cloud miners, where you can invest to generate new coins.