Hello Everyone. I hope that you all are doing great. I am here to complete my homework for week 5. I am really impressed by the teachers here. They explain quite well. After going through their lectures all the things going to be clear to you easily. I don't know about mining too much all the information i have gathered in my mind is from the lectures given here. so i will try my level best to complete my Homework in the best way i can but still if i commit any mistake i know that teachers are here to correct me.
so without wasting much time let me come to my homework.
Question No: 01
What is Cloud Mining ?
Cloud Mining is kind of different from mining in a way that when we talk about cloud mining so what we do we rent a computer from a company which owns many computers. Not just one or two they own in the bulk quantity. What we do we rent a computer from that company and start mining. That's is it. No difficult procedures nothing else. In any case if you have some kind of issue to your computer you don't have to worry about. you will be charged some small amount of money and your problem will be solved.
While in other mining. We know that many people have very less knowledge of mining and because of that it can be a big loss to them. And when we talk about mining just forget an hour or minutes. Even a second is very important. So if you wanted to save yourself from massive problems and if you are new and wanted to do mining. cloud mining is the best way for you.
Question No: 02
What are the best Cloud mining platform ?
Well There are many best cloud mining platform. What i have understand from the word Best in this question is that the platform which is secure and trustworthy. Many fake platform are in the market which are just making you fool.
After some research i found two platform which have great reputation in the field of cloud mining and labelled as the best platforms for cloud mining.
1) Genesis Mining
2) Hash Flare
If we talk about Genesis Mining platform. They are mining since 2013. And this is considered as one of the most truth worthy platform for doing cloud mining. Best part about this platform is that they have uploaded all the pictures and videos that how they work. Besides all this you will find hundreds of reviews of satisfied costumers of this platform. They offer easy payment methods and that is why many people are happily mining through this platform.
Now if we talk about Hash Flare this is considered as the second best platform for cloud mining. Although it isn't very old but they are working in an amazing way on the field of cloud mining . Like The Genesis Mining they also have thousand of satisfied costumers. Many of the big stocks aren't available now that is because increasing number of people on this platform.
Well according to my research what i have concluded is that these two platforms are considered as the best platforms for cloud mining . If you are willing to do cloud mining i will surely recommend you to just work with them as they are safe, secure and trustworthy.
Question No: 03
What are the Advantages and Disadvantages Cloud mining ?
Advantages of cloud mining includes:
1) In regular mining their is lots of maintenance cost and this issue is resolved by cloud mining. while working on cloud mining you don't have to worry about that you have to pay thousands of rupees just for the maintenance of your system.
2) If you are living in a city where weather is too hot then regular mining can be a big issue for you because you have to spend thousand of rupees just to make sure that your system isn't over heated. cloud mining also solve your this problem. and you don't have to worry about the over heating of your system.
Disadvantages of cloud mining includes:
1) When you will start cloud mining. there is a very big chances that many companies come to you and claim that they are offering the best cloud mining services but you have to be very careful as there are many fake platforms who are just making fool by taking your money.
2) No one in this world work for free. If you think from another perspective their is a question that why these big platforms are helping you in earing. the reason is that they are also earning from your profit. but if you do physical mining the the profit margin is almost double from cloud mining.
Well that was all and i hope that i have done my homework quite well.
Special Mention to @steemcurator01 and @steemcurator02 for getting their support and a big thanks to @besticofinder.