Lesson 5-Introduction to Cryptocurrency Mining - Part 2 | Steemit Crypto Academy |

What is Cloud Mining?


Cloud mining are large companies that contain gigantic mining plants either with machinery or some type of high-quality hardware. These companies offer their long distance mining services through an annual contract, seeing it in the feasible way is very good since it allows us to mine without having knowledge about the subject of hardware or machinery in general, nor would invoices scare us electricity at the end of the month, the expenses for maintenance and updates of the same also enter the list. By this I mean that cloud mining is excellent but there is a small detail that we have to say, it is very dangerous to do it, you have to know well and be well informed about the few companies that do it, because there are people with missing profiles that They disguise themselves with fake companies to scam them.

What are the best cloud mining platforms?

Currently there are many companies that carry out this type of mining contracts in the cloud, but not all can be trusted because taking a bad choice can lose all your money and time, in the market there are a certain minority of companies that have won endorsed by many users for its excellent cloud mining services, we can mention the following:

Genesis Mining


It is one of the hash providers for bitcoin (Bitcoin) and all altcoins, including Ethereum, Dash, Zcash, Litecoin, Monero, as well as allowing mining of various cryptocurrencies.



It is a cloud mining platform that works only with Bitcoin, unlike other cloud mining companies, this company offers very good contracts and has very good customer service.



This company was founded in Armenia and offers only Bitcoin to its users. The minimum mining contract at ECOS is $ 125. Contracts can be made using credit cards or cryptocurrencies.

Discuss the advantages and disadvantages of cloud mining?



* It is feasible because we would avoid the costs of purchasing equipment and its maintenance.
* there are no electrical costs.
* even without knowledge you can mine in the cloud.


* There is a great risk of fraud, since companies are the ones that take your money and you do not have total control of your investment.
* Many people create fake profiles online with attractive offers to attract the public and thus take their money inappropriately.
* While mining in the cloud, the learning levels of it are very low.

Thanks greetings


Comments 4

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11.03.2021 07:14

Hello @omar2021,
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14.03.2021 05:48

Excuse me professor, based on a program you cannot qualify me as plagiarism, since it is a single topic and most of them will always say almost the same words, because one thing is to follow the guidelines of some works made by other people, and another that they have the same contents.
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I appreciate being able to make a correction.
If it is not possible, for the next job be very aware of everything.

14.03.2021 18:53