After the explosive growth of Bitcoin in 2017, the world was gripped by a fever similar to the gold rush of the 19th century. ThousandsCrypto enthusiasts have started mining cryptocurrencies in pursuit of huge profits. Many of them built private home farms but quickly ran into problems such as:
- The high cost of equipment.
- The need to customize the mining software.
- Danger of overloading the power supply.
- A huge amount of heat generated by mining rigs.
- High noise level.
- The constant need to upgrade equipment and increase capacity, as the complexity of the network is constantly increasing.
- 24-hour monitoring.
Some have been able to turn them into benefits. For example, they used servers to heat homes during the winter months. However, building and maintaining a home mining farm remained challenging.
Rapid obsolescence of mining equipment andits high initial cost made do-it-yourself mining unprofitable for most users. And this forced them to look for alternative solutions. But a solution was found quickly enough — cloud mining.
An alternative to self-mining
Cloud mining involves buying power fromprovider. The provider, in turn, assumes responsibility for the purchase, placement, maintenance of equipment, its timely renewal and uninterrupted supply of electricity. The more power you acquire, the more coins the equipment mines. Accordingly, your income also increases, because coins can be sold profitably, especially if the value of the cryptocurrency has been growing all this time.
Thus, cloud mining — Thiscryptocurrency mining using rented equipment, which may be located on another continent. Users do not need to solve problems associated with equipment maintenance and do not incur additional energy costs; instead, they pay a fixed fee for using the cloud mining service.
Benefits of cloud mining
Cloud mining is a good alternative to self-mining and has many advantages. Below you can see just a few of them:
- Ease of investment.Investments should not involve problems withpurchase and maintenance of expensive equipment. With cloud mining, all you have to do is choose a contract that suits your risk profile and you are on your way to making good profits.
- No technical knowledge required.Even if you don't know anything about the structureblockchain and cryptocurrency transaction algorithm, but want to have passive income, then cloud mining is perfect. Thanks to it, you don’t have to set up miners yourself, install powerful ventilation and reliable electrical wiring.
- Flexibility.Investments in cloud mining offer youdifferent contracts, so you can choose the appropriate contract based on expiration date, investment size, risk profile, and even the expected price of Bitcoin. Contract — This is a kind of agreement for the rental of capacities for mining cryptocurrencies. The more power you acquire, the more bitcoins you mine.
- Saving.Do-it-yourself cryptocurrency mining will requireinstallation of additional equipment. This equipment consumes a huge amount of energy, which leads to increased energy costs. With cloud mining, you don't need to install additional hardware, eliminating the risk of increasing the power required for mining. Also, you don't have to spend money on buying equipment.
- Reliability.Self-mining will occur from time to timecause you inconvenience, because equipment sometimes breaks down. By investing in cloud mining, you are sure that the data center is regularly maintained and the equipment is frequently updated to reduce the likelihood of breakdowns.
- Lack of noise and heating of the room.Mining equipment produces a lot of heatand noise. Therefore, home mining creates an uncomfortable environment for you and your family. You do not need to place equipment for cloud mining at home, which means that you can make money on cryptocurrencies and live in conditions that are comfortable for you.
- Fast return on investment.Given the current complexity of the network, you can recoup your investment within six months. In addition, if the price of Bitcoin increases, you will receive additional income.
- Legality.Some cloud mining providersofficially registered. Most often they are located in countries with a positive attitude towards cryptocurrencies or in special zones. Because of this, they are very reliable and save you from legal risks. For example, the data center of the ECOS provider is located in the Free Economic Zone of Armenia and was created with the support of the government.
ECOS Cloud Mining Provider
On the website of one of the most popular ECOS providers you can find a calculatorreturn on cloud mining and assess its prospects for your portfolio.And if it attracts you, then you can try it there.
ECOS — this is a legal company createdwith the support of the Government of Armenia and is a resident of the Free Economic Zone. Thanks to this, its activities are not subject to tax. One of the founders is the Hrazdan Thermal Power Plant and the low cost of electricity allows you to mine Bitcoins even more profitably.
By entering promotional code «WELCOME» on their website, you will receive a monthly bonuscontract for 0.5 TH/s, and for phone verification another 10 TH/s! Follow the link and get a special cloud mining contract from ECOS right now https://mining.ecos.am/.
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