Cloud Mining Bitcoin and Other Crypto-Currencies

Cryptocurrency Mining explained

The process of “mining” in the “crypto” world is a system of processing the various “transactions” that have been created on a network. It’s called “mining” predominantly because of how any successfully-processed transactions are rewarded with tokens of the system you’re contributing computing resources to…

Specifically, each time you “mine” a “crypto” system, the miner is basically using their computer equipment to calculate the “hash” of a series of “cryptographic” (encryption) transactions.
These transactions are the transactions within the network itself, generated by the way in which you’re able to send “Bitcoin” (or other “currencies”) to different users. The point is that the “hashing” process is the same regardless of which system you end up doing it for, or even which equipment you end up using.

To briefly explain its history, CPU’s were originally used to calculate Bitcoin “blocks”, but as the complexity of the operations increased, people discovered that GPU’s (Graphics Processing Units) were better disposed to handle the “hashing” algorithms required by the various “cryptographic” systems.

From here, other people discovered that you could use FPGA’s (field-programmable gate array) and ASIC’s (application-specific integrated circuit) to create even more powerful hashing systems.
The latter of these (ASIC’s) has actually become somewhat recognizable as the “go-to” method of crypto mining. The various AntMiner systems (the majority of which being USB-powered) have long since taken over as the “default” mining system…

Types Of Mining Equipment

Whilst the process of “mining” the various “tokens” is the same regardless of which type of system you do it on, there are a number of systems which have been created solely to “mine” the various “crypto” tokens that are available.
The point here is that it doesn’t matter if you see someone with a PC/GPU “mining” setup, or a custom ASIC – the way in which the system works is the same (the only difference lies in the speed through which it’s processed).
This means that if you’re interested in how to “mine” the various “crypto” systems, it’s important to discern the various ways through which you can do it. There are several:

1. PC-based (CPU/GPU)

This is the mst standard form of “mining”, as you can just use over-the-counter PC components for it…

Free ebook – How to build your own Mining Rig

Whilst these types of setup work well for many of the smaller “coins”, they’ve been long-since superseded by the ASIC-powered “cloud” mining solutions now dominating the Bitcoin space.

If you are looking at getting into “mining” (in any capacity), you’ll want to look at the above as a major investment. Whilst you may argue that you could end up using the components yourself, the reality is that they are very highly priced and ultimately become degraded extremely quickly. They’re also power-hungry.

Ultimately, you should consider that if you want to potentially mine “coins” for a crypto system, you should be looking at this as a last-resort (typically if you don’t want to pay for an ASIC or just simply don’t feel they’re worth the price).

The most important element of this setup is having a large array of GPU’s (Graphics Processing Units). You’ll be able to find more specifics online; the point is that if you have them all working from one motherboard, it should work well for you

2. ASIC Based (Antminer etc)

The other type of “mining” system is the ASIC. This is a custom chip which has been designed specifically to help users manage the various “hashing” calculations require for systems like Bitcoin…

As mentioned, all the “hashing” algorithms are the same, which means that you’re able to use the ASIC’s for any “crypto” system you want.

The main supplier of these systems is “BitMain”, who produce the “AntMiner” range of ASIC systems. There are many types of “Antminer”, with the ones pictured above being most powerful (have the largest number of chips).

These are left to operate on their own (you just plug them into a power outlet and ethernet port) – to which you’re able to achieve fast “hashing” which is more energy efficient & reliable than the various other systems that may be available.

As mentioned, as a “standalone” mining method, the ASIC is by far the most effective at present. Whilst there are rumours of other systems being developed, this is the most efficient available.

3. “Colocated Mining” (ASIC)

This is the best option for most people. The Bitcoin mining industry predominantly has experts and extreme enthusiasts, but Crowmining makes bitcoin mining accessible for everyone. If there is anything such as a good time to mine, it would be now. This is because comparatively, Bitcoin is in a bullish market which is the most profitable time for mining. In this perfect time, Crowmining currently has Innosilicon T3-50t miners for $1650 and the sale ends this weekend.

What is Crow Mining?

Crowmining is a co-located Bitcoin mining service. It lets the users view their miners all-time all day via a dashboard. Crowmining provides the best alternative for cloud mining which can have unnecessary risks associated with it. This sale is a perfect opportunity to invest in the Innosilicon T3-50t miners at a relatively lower price.

“A person can own their mining device and have professional staff operate it without the troubles of installation or struggle with its operation.”


Best Features Of Crowmining vs other types of Bitcoin Mining

Once you purchase a miner, Crowmining takes care of shipping, customs, and delivery to their farm in Siberia. However, customers can also ship in their miners, but will need to cover the cost themselves. The engineering staff at the farm take care of every single miner and make sure they operate at peak efficiency. The whole installment and maintenance-related activities are handled by Crowmining while the owner enjoys passive income.

Keeping the cost of mining very low is one of their highest priorities. Crowmining provides profit interest in a fixed cost model and charge only 20% for the management fee. The major expense you pay in bitcoin mining is the electricity cost, but with Crowmining this is paid for by the miner not you. The mining electricity cost from the farm is 5.5C KwH compared to 14c KwH you would pay in USA, which allows them to be so competitive . Being miners themselves, they keep the process entirely transparent with an all-time support group via telegram and other media.

Check out the Crowmining website for more information on the Innosilicon T3-50t miners sale which ends this weekend. You can get one miner for $1650 or two miners for $3200.

Visit: https://www.crowmining.com/ or you can also join their community on Twitter and Telegram to stay updated on the latest news.

4. “Cloud Mining” / “Mining Pools” (ASIC)

Finally, the ASIC paradigm has been boosted with “cloud” / “pool” mining. This is where groups of miners are linked together to essentially form a “supercomputer” – allowing for faster and more accurate processing:

Whilst this is the realm of larger operations, as an individual user/investors, you are able to put money into one of these operations in order to enhance your mining capacity. Whether you feel it an appropriate investment is up to you.

Cloud Mining is a way to mine bitcoin (or different cryptocurrencies) without the need of owning a miner (or mining hardware). Simply said, you buy yourself some shares of mining power – like a mining pool – and profit together with the pool. This means that you only need a contract with someone who offers Cloud Mining Services and a bitcoin wallet

Cloud Mining services are for you if you want to invest in bitcoin mining without the hassle of managing your own hardware, or, in some cases can’t invest in high priced ASIC mining hardware. You can use the cloud mining to earn your coins.

ledger

Cloud mining or cloud hashing is a common concept and What it means is that it uses (in most cases) shared hashing power run from remote data centres which allows users to buy mining power of the hardware placed in. All Bitcoin mining is done in the cloud, without any offline hassle, such as electricity, hosting issues, or installation and upkeep trouble.

Here is a short list of the best Cloud mining providers based on my own experience, read my reviews if you are not already familiar with these names.

Best Cloud Mining Providers

Hashflare


Hashflare offers a unique option for mining with a low cost of entry as well as minimal risk and expense, which is opposite to traditional models of mining that involve procurement, maintenance and configuration of highly specialized hardware.

Visit HashFlare

Advertisement
fiverr

Get Free Bitcoin from Bitcoin Faucets

Bitcoin faucets are websites that rewad their visitors with some free fractions of BTC. Visitors can claim multiple times every day. Bellow are some of the best websites to claim free bitcoin.

Freebitco

 Still remember when I discovered FreeBitco.in and was astonished with how well done the site is in comparison to other Bitcoin faucets, how fast the site loaded and after receiving my first payout how it has consistently been a reliable source of Bitcoins for me.

Visit FreeBitco.in

Advertisement
betfury

How To Get Cryptocurrency without cloud mining

Whether you’re a new bitcoin user looking to get your hands dirty with your first bitcoin wallet, or just looking for additional ways to earn free Cryptocurrency, this section contains an up-to-date list of the best websites to help you get your virtual hands on Bitcoin and other crypto currencies.

Each of the sites below allows you to earn free bitcoin: some by viewing ads, some by answering captcha challenges, and some by doing crowdsourced work. If you’re looking to earn some free bitcoin, you came to the right place.

Make cryptocurrency With Your Computer & Graphic card

MinerGate


MinerGate is a mining pool created by a group of cryptocoin enthusiasts.
It is the first pool which provides service for merged mining. This means that while mining on our pool you can mine different coins simultaniously without decrease of hashrate for major coin.

Visit Minergate

NiceHash

nicehash NiceHash was founded in 2014 and is now the world’s leading cryptocurrency platform for mining and trading. They known for a next-generation tools and platforms for cryptocurrency miners and traders.

Visit Nicehash

CudoMiner

cudominer Cudo is a team of miners, techs and entrepreneurs. We’re passionate about creating good with technology and we see blockchain and cryptocurrency as an amazing opportunity to do this. Our aim is to make a positive impact in the world for good and for technical change.

Visit CudoMiner

CryptoTab Browser


cryptotabbrowser

CryptoTab is the world’s first browser with mining features. Earn bitcoin without looking up from watching videos, chatting, or gaming online. Join the community of more than 10 million users all over the world already enjoying CryptoTab Browser.

Visit cryptotabbrowser

betfury