Today, in this article we will tell about the types of mining.
There are Two types of mining in concurrency industry.
These two types are cloud mining and hardware mining.
Before to know about the types of mining in detail, you need to first know about mining , so check our article what is mining by click here.
Cloud Mining System
Cloud mining helps us to mine bitcoin from cloud computing power.
Actually these services run by those people who knows very well how to mine Bitcoin and another coins, so they offers their plan to invest money and earn without tedious & complicated setup of hardware.
Usually they offers plan to invest at their website. Then the team of website will buy hardware with your and then they will set up the hardware at their local location.
After all the spent over the mining cost like electricity and maintenance , they will share profit 50-50% or even less with the investor.
The best website in our knowledge, which offers genuine service of cloud mining, is viabtc.com and nicehash.com, you can see some better offer for yourself.
Since there are another websites available also which provide more profit than this one website, but unfortunately we don’t believe at those websites because there are lots of changes that they can be only money rotation Ponzi scheme websites.
Advantage of cloud mining
- If you have lots of money in your pocket then you can invest it for a better amount of profit without any complicated work.
- You will not be restricted to buy low quality mining hardware with less amount of fund. You will get suitable hash power credit at the mining website .
Disadvantage of cloud mining
- There are many cloud mining websites are running in crypto market. Most of them are based on money rotation. So it remains tough to go with them.
- These are less profitable for our investment.
Hardware mining system
In this type of mining, we need to buy mining hardware. And have to setup all the things ourself with small guidance which are available at internet.
In hardware mining we need to invest very high amount of fund. Because with low hash power mining hardware you can’t earn profit and also low cost mining hardware are noisy that will irritate your mind.
And also you need better internet speed and also electricity at very low cost.
If you are not able to get electricity cost at very cheap price then it will not be beneficial for you to buy a mining hardware.
Because at one side you will spend your money for electricity and then at another side you will get very less amount of mined bitcoin or another crypto.
So first you should do better research regarding it, before to buy.
To get list of best mining hardware visit here at this post by click here.
Advantage of using hardware Mining
- If you have cheap electricity then you can make big earning with one time investment.
- Hardware mining is a reliable option to earn money without any risk factor.
Disadvantage of use hardware mining
- Hardware miners are costly .
- Hardware miners cause noise but new miners are less noisy then old one.
- Need complicated setup to set everything with PC .
- Need a separate space with cool environment room.
Conclusion of this article:
You can go with any type of the mining option but at the condition, that you have a good option and platform to invest and you will get more profit instead of another options available for you.
And also do deep research about a particular mining hardware that how much have hash power so that you can make high profit with less effort .
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