What should you do for Bitcoin mining. Cloud mining

What should you do for Bitcoin mining. Cloud mining

In its recent publication Digital Trends told how to mine Bitcoin and what you should consider. This publication concerns cloud mining.

In 2009 when Bitcoin was firstly introduced, for its mining it was enough to upgrade slightly your PC. But today you need much greater power.

Firstly, you should keep in mind that bitcoin mining is a more risky investment than direct bitcoin buying. There is a high risk whether you'll get the desired profit or no.

Cloud mining allows to mine cryptocurrency without your own hardware. You will rent the hardware of mining companies. These companies create their data centers with a huge amount of equipment for mining. The advantage is that you do not have to pay for electricity, tune the software and carry out many other manipulations. But you have to choose the right mining company. According to Digital Trends the most reputable companies are Genesis Mining and HashFlare. And you can select the company in the list of CryptoCompare.

If you have chosen a mining company, you have to choose a mining package, involving the amount of hashing power and cross-referencing about how much you can pay. As a rule, if you pay more, you'll receive better and quicker profit.

Most mining companies can help you to choose a package providing you the calculations based on current Bitcoin rate.

After choosing mining package you can choose a mining pool. Due to it you do increase the chance to earn Bitcoins with the help of mining. You will pick out the team of global mining to join.

After that step you will begin to mine bitcoins and after several days, sometimes weeks, you'll see your bitcoins in your cloud mining account. Then you can withdraw cryptos and put it into your secure wallet.

Digital Trends warns you to avoid "pre-sale" contracts (mining package), because there is no guarantee that the contract will be profitable when it begins.

The second method of Bitcoin mining we’ll describe in the next publication.



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