New oil, virtual El Dorado, future money – nowadays such metaphors and comparisons describe cryptocurrencies.
Over the past couple of years, the number of people who have earned their first fortune on digital coins almost from scratch has been multiplying. No wonder beginners also think about how to enrich themselves on this. But they don’t know where to start.
One of the most popular ways is mining. After all, this is the basis of cryptocurrency. Produce an existing cryptocurrency by calculating the power of the computer of new blocks. Previously, in the early stages of the emergence of the crypt, the power of a home PC was enough for mining. Over time, it becomes more and more difficult to get new blocks. After all, everyone is connected with the previous one, and that is connected with the other, and so on. To perform calculations, you need a lot of hardware.
Therefore, now miners create farms – complexes with a large number of video cards (they produce calculations faster than processors). The main disadvantage is a large entry threshold – mining equipment is quite expensive, and you have to pay for electricity.
To make mining accessible to everyone, crypto enthusiasts have created the concept of Cloud Mining – this is passive cryptocurrency mining.
The equipment is expensive, and there is a shortage of powerful video cards on the market – miners buy everything. But after all, someone buys them and extracts the crypt! Farms need money for development and payment for electricity. They accept investments. In return, they share the mined coins with you.
To begin with, you need to choose a cloud service, conclude a contract with it and wait for its execution. You can pay for mining with crypto or ordinary (fiat) money, you do not need to immerse yourself in the wisdom of creating farms, collecting and maintaining them – other people are engaged in this.
For example, let’s take the cloud mining service SunMining.
The company is engaged in the extraction of cryptocurrency on renewable energy, which allows you to increase the efficiency of mining at times. It is enough to register on the SunMining website and get acquainted with the available equipment and contract options.
Contracts differ in duration (3, 6, and 12 months), the amount of rented capacity, and the cost.
An important rule: the more capacity you rent, the greater the profit. Therefore, when buying long-term contracts with large capacities, the net profit of the investor will increase. However, such contracts are often surrendered in limited quantities, because the company cannot work at a loss. In addition, each user of the company receives a personal referral link, which can be sent to friends and acquaintances and earn additional bonuses to the account.
This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.