When you stop to consider how far we have come in cryptocurrency mining in the last ten years you will realise just how fast the industry is moving. Back then it hardly existed and was seen as something alien and even laughable! Fast forward to 2021 and it is a massive industry that uses copious amounts of electricity each day.
The Barriers to Crypto Mining
Even though crypto mining has become more popular, there are still some significant barriers that people need to overcome in order to be able to use it to it’s full potential. These barriers include:
- Expensive mining equipment
- Learning the required technical skills
- Space for the mining farm
- Enough cashflow to compensate for the amount of electricity that is required.
- Excessive noise and heat levels for large operations
Cloud Mining – the Solution We Need
As with any type of service, the more demand there is, the greater the supply will be and this is where the notion of cloud mining came from. Cloud mining is a specific service that is provided by a number of different companies and gives you the chance to rent the mining hardware that you need while the company remains responsible for the installation, operation, and maintenance at a cost to you.
The cloud mining company works by investing in a specific location that can hold the equipment needed to run the operation in a country where electricity is cheap. The result of any mining done goes to the user as long as all rental fees are paid up to date.
Finding the Best Cloud Mining Service for You
When it comes to finding the best cloud mining services for your crypto mining needs, there are a range of accessible options for you to choose from. Take a look at our top three below:
This mining company has been operating since 2016 as an independent company and began life as part of the Hashcoins company based in Estonia. It is a very well-known company and has been around for a long time in Cryptocurrency years, meaning that you can be confident that your mining operation is in safe hands.
The company has experienced some issues with customer support over the years but this seems to have been successfully resolved, making them an extremely popular choice year on year.
This company was founded in 2013, making it one of the oldest and most respected cloud mining services on the market. It offers clients contracts for mining Ethereum and Bitcoin currently but has offered a wide range of other choices over the years.
Based in Iceland and Sweden, this company is only set to grow as the years go on and is a great choice for anyone interested in cloud mining services.
This company is set in China and offers an incredibly reliable mining service along with a lifetime contract so that you do not need to look elsewhere. The other great part of the service is that you can use the internal market to buy and sell hashrates.
The only issue is that China is not a Crypto-friendly country, but this should not create any specific issues for you to deal with.
Try Cloud Mining and Get Results
Whether you need Litecoin mining, Monero mining, Dogecoin mining or more, cloud mining is a great and affordable option that will provide you with the power you need to achieve your cryptocurrency goals.