What is Cloud Mining?

Photo by André François McKenzie on Unsplash

Cloud mining allows individuals to mine cryptocurrencies without owning any mining hardware or operating a facility.

Cloud mining companies will often offer purchase agreements for a portion of their total hashrate. These contracts can be for a short or long-term contract.

Cloud mining is a type of mining that removes all the upfront costs associated with mining, such as hardware, electricity, and maintenance. It works by allowing individuals to participate in the mining without having to shell out a huge amount of money.

Cloud mining contracts are typically not secure and are prone to fraudulent activities. This type of mining service is typically used by fraudsters to steal hashrate and disappear with customer funds.

Learn more about Titan and our mining solutions, here.

--

--

--

Making crypto mining hashpower a tradeable commodity. Built by Titan Mining. Visit us on https://lumerin.io/.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Weekly Update #29

CALL OF META of the Blockchain

Digital Assets and its Future — Principled Discord Pt. 8

A look into the different vectors of hashrate centralization

How to buy Cryptocurrency in Singapore?

‘Let’s Not Be Bitcoin’: Yearn Finance Considers Minting $200M in New YFI Tokens

Bloconomic 2018: Discovering Malaysia

Should Facebook Pay Everyone Cryptocurrency for Data?

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Lumerin Protocol

Lumerin Protocol

Making crypto mining hashpower a tradeable commodity. Built by Titan Mining. Visit us on https://lumerin.io/.

More from Medium

Fantom ETHPrinter Basics

How Fibonaut’s Revolutionary Chart Stabilization Works

Crypto Kings 2021

Certik Audit & FrenchFellas NFT Release