Hi friends, In this Today lecture from @besticofinder I learn how to set up mining rigs from our self, what technical skills we need, how much investment we need like those all details. I am to learn all through lectures in the steem platform.

Question Number 1:-

What is Cloud Mining?

In crypto mining, we need to invest huge money in mining. If you go through cloud mining we can reduce our 50% investment at the same time compared to individual mining person we earn little bit low earnings. Because here we need to share all of the earnings throughout the pool members.

In cloud ming we need to buy needed rings, the hash rate we get from cloud mining providing platforms based on our investment.

On setup remaining needs we start our mining instantly. But before going through the minus pls consider all investments and profits ration too.

Simply here on sharing our processing power to remote datacenter we do the mining process. Due to this all get possible to mine with minimum cost.

Question Number 2:-

What are the best cloud mining platforms?

Through cloud mining without buying expensive equipment, we can mine ourselves very easily.

In the market, there is a lot of cloud mining providing platforms available. But before choosing we must check it's reputation and price too.

From this in my opinion Eobot, Hashflare, Genesis Mining, Hashing24, Minergate are Top 5 platforms. Now I give short details about those.

Eobot:-

As compared to other cloud ming platforms this platform offers huge opportunities to us.

Here we can buy needed ming power within a second. For this, we need to pay through Paypal or using Cryptocurrency also.

Using that power we can mine different types of coins at a time. It supports LiteCoin, Ethereum, Bitcoin Cash, DogeCoin, Ripple, Dash, Golem, and Ethereum Classic and many more.

_{Eobot Cloud Mining Platform}

For more details pls check it's officialwebsite

Hashflare:-

Hashflare cloud mining platform is well known to all, and working from 2014. One of the trusted platform too.

Here a lot of customised mind pools available, based on our needs we can choose which we want. All those services are available at a reasonable price. Here we can track our all transactions too.

Besides other cloud ming platforms here we get two types of mining like Scrypt and SHA-256.

Using those we can mine a wide variety of coins easily.

_{Hashflare Cloud Mining Platform}

For knowing more details pls check it's website

Genesis Mining:-

Genesis Mining platform provides a user-friendly interface and provides easy access for beginners too.

Genesis Mining platform is very old and having the most experienced platform in this field.

Here the price involved which coin you need to mine. So on investing less money we can start mining easily here.

_{Genesis Mining Platform}

For more details check it's officialwebsite

Hashing24:-

Hashing24 cloud ming platform working from 2012 having thousands of satisfied customers. This platform having a good reputation in this field.

They using all most all modern equipment like modern ASICs for providing the best services.

24/7 customer support we get here, they providing 100% reasonable services to us for a reasonable price.

_{Hashing24 Colud Mining Platform}

For knowing more details pls check it's official website

Minergate:-

Minergate very different cloud ming platform compare to other platforms because we not only offer cloud ming along with we get ming software. So on sitting with our computer we can start mining very easily.

Through this, we can mine Bitcoin, Ethereum, and Monero.

_{Minergate Cloud Mining Platform}

For more details pls check it's official website

Question Number 3:-

Discuss the advantages and disadvantages of cloud mining?

Before start cloud ming must know it's advantages and disadvantages based on this take your decision.

advantages of cloud mining

• No need to buy costly hardware and Software.

• We can do mining using a regular power supply, no need to invest more in it.

• No need to set up additional cooling fans in our mining place, Normal cooling fans is also enough.

• We can quit at any time we wish, and also start mining when we wish.

• We start mining at any time as per our wish, no need to took permission from anyone. It completely depends on our wish.

• Through cloud ming, we don't get that's much heat also, so no need for additional ventilation equipment.

Disadvantages of cloud Mining:-

• Huge scam cloud mining platforms available in the market. So before choosing cloud ming platforms to be careful otherwise we lose our investments.

• Here cloud mining owner having rights to control us. So no need rights to updates the gear by our self.

• For the long term, these cloud mining platforms not give good returns. In short term here we get good returns but long term not profitable

• Cloud mining platform possible shut down at any time if they decide it's not giving good returns to us. So be prepare like those situations too before investing in cloud mining platforms.

Like that we having a lot of advantages along with disadvantages too. So before taking a decision pls consider all of those

Conclusion:-

Through this lecture now I understand how cloud mining work, what is the advantages and disadvantages we have in this field.

What are the most trusted cloud mining platforms and Their prices, and what type of coins possible for mining through these services.

Hope I finish all my homework task successfully. If any wrong I made pls verify me.

Thanks for reading my post.