FREE CRYPTO

Crypto Mining

Crypto Mining is a process carried out by miners (miners) to extract or mine cryptocurrency (such as Bitcoin, Ethereum, etc.) from the blockchain network.

This process involves highly powerful computers connecting to a blockchain network and using their processing capabilities to validate transactions in the network and solve complex algorithms related to the blockchain.

In exchange for their contribution to processing transactions and solving the algorithm, miners are rewarded in cryptocurrency. These rewards can be in the form of new blocks of mined cryptocurrency or transaction fees paid by users who make transactions on the network.

However, as more people enter the world of cryptocurrency mining, the competition is getting tougher and the hardware required is getting more expensive and sophisticated.

Cloud Mining is a cryptocurrency mining process that is carried out through cloud services, which allows users to rent computing power from cloud mining service providers.

In cloud mining, users do not need to buy hardware and incur operational costs such as electricity, cooling, etc. All of these are handled by cloud mining service providers, who provide the necessary hardware and infrastructure to mine cryptocurrency.

The user pays a rental fee based on the computing power rented and the rewards received from cryptocurrency mining are also divided between the cloud mining service provider and the user according to the agreement made.

Although cloud mining can be an easier and cost-effective alternative to mining on their own, users should be careful in choosing a trusted and reliable cloud mining service provider. Some cloud mining services may be fraudulent or do not meet the promised requirements, thereby causing harm to users.