Mining is the central system of any blockchain cryptocurrency. But there are now advanced mining systems in which bitcoin cloud mining is now trending. Cloud is the advanced and next-level technology in the era of cloud computing. It helps thousands of people to restrain from using their, own hardware and provide their hardware services to accelerate the task.
Cloud computing is the services provided by large companies to their users in the form of rented hardware. They provide the hardware for a specific time period and charge rent on them. Every individual and crypto mining pool can utilize their service to get the maximum benefits.
The individual or bitcoin mining pool worries less about maintaining their own hardware. They also do not pay the maintenance cost for their hardware. They just pay a little bit of rent to the cloud computing mining companies and do their work on the rented hardware without any worry.
For bitcoin mining, there is a need for a strong GPU that provides enough hash rates to mine the cryptocurrency. If the GPU does not provide the desired hash rate then you are unable to earn the margin on the mining of cryptocurrency. The price of GPU is very high these days due to an increase in demand and less supply. So sometimes it is impossible for the individual to mine cryptocurrency, especially bitcoin.
Cloud computing companies make it easy for individuals to mine bitcoins in the cloud without the worry of electricity, hardware specification, and maintenance. They just need to make an account on the cloud computing website and enter some necessary details and start mining.
How to start cloud computing.
Make an account
First of all make an account on the cloud computing website by entering the necessary details just as name, contact number, email, and physical address. After entering details, you agree with their terms and conditions and click on Login to enter into the dashboard.
Choose your desired package.
There are multiple packages offered by cloud computing companies to individuals and mining pools. There is a starter package ranging from $10 to $25 for individuals. Despite that, there are also pro and elite packages for the big groups or mining pools ranging from $ 50 to $200. After login, you have to pick one package of your desire and need. Before picking the desired package, you have to carefully check the specification and features of that package. Just like which hardware, they have offered and how many hash rates are produced from that hardware. Is this hardware run 24 hrs or just for a couple of hours?
After configuring all settings which are discussed above, just choose the coin which you want to mine like Bitcoin. There are a number of cloud computing websites that provide the opportunity to mine a single cryptocurrency, bitcoin but also have the option to select the different cryptocurrencies just like bitcoin, Ethereum and dogecoin, etc. after selecting the desired crypto coin which you want to mine, then click on start and sit back and see how fastly cloud computing do his job. There is also a big advantage of cloud computing is that you are sleeping but your mining is running smoothly without any hurdle and making money that is transferred to your bank which details you have entered in the signup process.
Charges and profit
After the completion of the process, there are two types of charges, the first setup charges and the second one is electricity charges. Setup charges are fixed according to the package but electricity charges are variables. The cloud company provides the option to the user to pay the electricity bill in advance or after earning the profit. An estimation of the electricity bill is paid in advance is also a good way but after earning the profit an exact electricity bill is calculated and withdrawn from the total profit. That is the best way to do cloud computing for bitcoin mining.
The electricity bills and hardware cost is increasing day by day, so it becomes so hard to mine the cryptocurrency. In this point of view cloud computing overcome this problem and it is easy to mine bitcoin through cloud mining.