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 hardware. They also do not pay the maintenance cost for their hardware. They just spend a little bit of rent on cloud computing mining companies and do their work on rented hardware without any worry.
For bitcoin mining, there is a need for a potent GPU that provides enough hash rates to mine the cryptocurrency. If the GPU does not give 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 the individual can’t 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 create 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.
Cloud computing companies offer multiple packages 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 box of your desire and need. Before selecting 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 several cloud computing websites that provide the opportunity to mine a single cryptocurrency, bitcoin, but also have the option to select the different cryptocurrencies just as bitcoin, Ethereum and dogecoin, etc. after choosing 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 significant advantage of cloud computing is that you are sleeping. Still, 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 allows 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 making the profit, an exact electricity bill is calculated and withdrawn from the total gain. 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 has overcome this problem, and it is easy to mine bitcoin through cloud mining.