Given the current market scenario, numerous individuals now wish they had mined Bitcoin as early as 2013 when a simply CPU output would suffice. In those days, you could mine Bitcoins pretty effortlessly at home and acquire a decent profit.
As time passed, the mining difficulty greatly increased. In today’s date, it is really difficult to mine Bitcoin at home with your own equipment. This is the very reason why more and more individuals have started opting for alternative means such as cloud mining, where one neither has to purchase a mining equipment and maintain it, nor pay hefty charges for high electricity. With cloud mining, all one has to do is rent a mining hardware from a reputed cloud-based company which will fetch lucrative dividends at regular intervals.
On the off chance that you go to the organization's pricing page, you will find different plans pertinent to the SHA-256 or Bitcoin hashing power that may cost you a onetime amount. This amount varies from one company to the other. A cloud mining contract is generally of 2 years and while the first year is about recovering your investments, the second year is pure profit generation. Nonetheless, there is a small catch in this regard. Along with a primary contract fee, you also need to pay a regular maintenance fee which is close to negligible. The contract fee is subject to change anytime, owing to the fluctuations in the crypto market.
Cloud mining organizations are generally like a gambling site. In case you do make profits with them, it is after a very long and risky period in which Bitcoin's cost most likely went up and you could have profited by simply HODLing.
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