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  • Everything you need to know about cloud mining

    Everything you need to know about cloud mining

    Digital money is gaining more and more popularity in the modern world. Scattered single miners no longer surprise anyone, since today it is quite common to find entire farms or mining centers in which powerful equipment performs continuous calculations of mathematical algorithms based on cryptographic elements. Also, such a kind of electronic currency mining as bitcoin cloud mining is actively spreading. With a good combination of circumstances, with some diligence, such an enterprise can become very profitable.

    The investor, who in this case is also the ultimate beneficiary, rents ASICs belonging to large mining companies for a certain period of time. The risks fall entirely on the shoulders of the latter, since it is extremely difficult to guarantee profitability in this financial industry.

    Cloud mining of cryptocurrencies is it profitable or not?

    In this case, of the two participants in the transaction, the absolute financial benefit and minimization of personal financial risks is guaranteed only for the landlord. Receiving a constant fixed income from tenants of a part of ASIC, he can update equipment in a timely manner, thus increasing the profitability of the company as a whole. However, the question of whether cloud mining is profitable for an investor can be answered with confidence in the affirmative. The main thing is to invest in a mining company correctly. Ideally, experts recommend diversifying finances between several companies and considering not only bitcoin, but also other cryptocurrencies.

    Among the main advantages of cloud mining for investors are the following:

    • low initial rate for investment;
    • no need for high personal technical competence for the maintenance and controlling of systems;
    • possibility to choose the jurisdiction of the company.

    The last factor is especially important, since the profitability of cloud mining directly depends on the energy costs for mining cryptocurrency. Simply put, if you invest money in a company located in a region with a lot of sunny days, the cost will be reduced by using solar panels. The same story with companies that are in the jurisdiction of countries with low electricity tariffs.

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    Khamisi
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Afrii-Diaspora Dialogue

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