Cloud mining is also the bitcoin mining, only easily. It relieves you from the costs of:

Electricity;

24-hour inspection;

Software;

Other costs associated with conventional mining.

The equipment can situate anywhere in the world; The miner gets access to it online, through the control panel. The company takes care of all accommodation and maintenance of the mining facilities.

How to begin

Before you start a cloud mining service, you should review the company's rating. Then you have to choose the one that seems most appropriate to you. It is worth understanding such concepts as hashing speed, what algorithms have used. After that, you need to determine what power you need and for how long you want to sign a contract. Companies offer a treaty for a year some; offer from 6 months to two years or indefinite periods. Then you need to pay for the agreement and sometimes an extra commission. The company will take care of everything else.

You go to a site that provides cloud mining services;

Select the rate you need, which will specify the equipment you will use;

The cryptocurrency you will be extracting;

How to make a profit

It is the same as if you choose the tariff of the mobile operator. The profitability of cloud mining depends on the amount of cryptocurrency produced. It means that at the end of the agreement, you will receive the cryptocurrency extracted. Or you may get equal cash payments to your account according to the leased capacity.

Why would a commercial entity rent out its plants when it makes a profit?

Why do they rent out their equipment instead of mining it themselves? The answer is simple - they do not want to take risks. The courses of cryptocurrencies are changing, and what will happen in a few years is impossible to predict at all. And if you rent out your equipment, the income is stable. Providing services is a less risky investment than using the equipment yourself. At the same time, many companies are also mining to the cryptocurrency.

Those can say the main disadvantage of cloud services is they allow to mining a limited number of cryptocurrencies. Please visit https://minero.biz for more info.