Post
Topic
Board Service Discussion
How does cloud mining work?
by
Paul1991
on 03/04/2018, 01:58:44 UTC
Cloud mining would be useful for those who don’t  have mining techniques or want to invest in bitcoin mining without the hassle of managing your own hardware. If your local electricity price is high - for example in Germany - you should hire miners whose local electricity price is much lower than that in America.  Smiley

First, you should make a decision on what providers you want to cooperate with.

Then, clarify the transactions you want to make - whether it’s a 500GH or 1000GH contract- and the contract conditions. Most Bitcoin contracts last for 1 year; however, some might last forever (This might sound great if the Moore’s law is true. Then the processing power for computers will double for every 18 months. It means Bitcoin mining companies will face up with great loss in the near future if the hash rate keeps increasing.) Some providers might offer short or medium-term contracts which last for 6-24 months.

All you need to do is to pay in advance for the transaction or pay in dollars on PB mining. They make sure everything will be well done. Then you will receive a constant amount of BTC in your personal wallet.

Some mining contract providers will charge fees during the contract, and sometimes, it might be a scammer. That’s why we are here to provide you with short-listed prestigious providers for cloud mining.

Good luck!  Cheesy