ABOUT THE BASICS OF CLOUD MINING
WHAT DOES IT MEAN?
Simply and as clearly as possible.
When you decide not to start building a mining machine (see the pros and cons of mining here) but your objective is to increase the number of your Bitcoins (or other crypto-currency coins), you turn to a mining company where they take care, for you, of the technical background (so you don’t have to deal with machine-building, operation, maintenance, purchasing more efficient parts). This is what cloud mining means.
Choosing cloud mining means that you subscribe for crypto-currency mining resources at a company specialized in mining.
The most important thing is that by signing a contract with a reliable, stable mining company, you can calculate with predictable profit payments and clear long-term return on your investment (details in our article: Cloud Mining).
Wait a minute! Why wouldn’t I choose trading with my Bitcoins or other coins, using my account on a cypto-currency exchange? It’s tempting, that’s true. Because the volatile nature of the development of the exchange rate of crypto-currencies may bring you quick and significant profit. But it may easily result in major losses, too. No expert, not one tells you to go for day trading if you don’t have the necessary economic expertise plus several hours devoted to research and trend analysis on the crypto-market.
Despite all warnings, there are some players looking for adventure, who want to find out if it really works that way, of course.
But if you are able to keep your cool and use a long-term planning approach, not tomorrow but in a few years’ time you will get to that point when you can sit back and just enjoy the result, the fruit of your right decision. If you think you are that kind of person click here to get detailed information on cloud mining.