What is cloud mining?

Cloud mining – mining cryptocurrency without buying your own equipment, using rented equipment that may be located on another continent.

Cloud mining is the rental of mining capacity. In this case, you don’t buy equipment, you don’t deal with the issue of its location, you don’t incur additional costs for electricity, you just pay a fixed amount for the use of other people’s video cards or processors.

This sounds like a very convenient option, but it is not known how many companies actually exist that provide this service. Often the name of cloud mining can hide a pyramid scheme, where newcomers pay for the newcomers.

Eddie Elzer

Crypto Social Media Global Influencer
Back to top button