Many people believe that mining Ethereum is equivalent to learning rocket science. Well, even if it can seem technical from the perspective of a person who isn’t tech savvy, this guide simplifies the Ethereum mining process.
Cloud Mining as a Solution
The solution to stressful and technical Ethereum mining is cloud mining. Just like you can cloud mine Bitcoin, you can also cloud mine Ethereum. What it means is that you’ll pay someone to do the hard work for you while you receive the glory. There are so many cloud mining service providers who are willing to provide this service for a fee.
One of the most reputable providers of cloud mining services is Genesis Mining. They set up Ethereum mining contracts for interested clients. All a client has to do is pay for the service. After paying, you can start mining. You don’t need to run around looking for Ethereum mining hardware or struggle to download Geth on your computer. Cloud mining saves you time and mental strain if you are someone who is new to cryptocurrency mining.
How do Cloud Miners Get the Good Deals?
Since cloud miners buy in bulk, they get major discounts on equipment. Also, they typically place this equipment in cold and low-cost regions. This dramatically reduces the cost of operating a mining rig. Cloud miners offer the contract for an agreed period typically for one year, and they charge clients upfront. With cloud mining, you’re guaranteed 100% uptime. If your miner goes offline, they will have replacements waiting for you.
Another advantage of cloud mining Ethereum is that it is absolutely noise free. You don’t need to worry about humming fans. Cloud mining may not get you as much profit as mining with hardware would, but it is the logical option for someone who is just starting and doesn’t know many things about the technical aspects of Ethereum mining.
Mining with hardware should be left for the professionals who long for the joy of mining Ethereum.