Crypto news, headlines and insights
Gate.io Observer: Hannah.H
There are basically three ways to own cryptocurrencies. You can either buy them, recieve them as gifts or mine them. For ordinary people, buying and mining are the most direct ways to obtain Bitcoin. However, the former one requires a high capital, while the latter one requires investors to personally search for mining farms, mining equipment, eliminate mining noise and much more. The mining machines not only require high electricity and maintenance costs, but also require a certain degree of crypto expertise.
Cloud Mining can be considered as remote mining. It involves purchasing cloud mining contracts where users can obtain digital currency on a regular basis within the contract period. To purchase cloud mining contracts, users do not need to have a deep understanding of the mining principles, its softwares and hardware. Cloud mining does not involve any purchase of expensive mining machines and involves zero maintenance cost. Cloud mining, without any doubt, is a profitable product.
The principle of cloud computing power mining
There is an interesting mechanism behind cloud mining. The platform party buys mining machines and then splits the total computing power of the mining machine into independent units. It is then the users who purchase these units (a part of the computing power) to start crypto mining. There are a number of problems that are solved using cloud mining where users don’t need to spend so much in personally selecting mining rigs and worry about hosting mining farms.
Investors can only purchase cloud mining contracts via the platform's website or app to use the mining machines for Bitcoin mining. The platform will regularly release cloud mining rewards to the investor's account, which greatly reduces the threshold for Bitcoin mining.
Obtaining cryptocurrency through cloud mining is one of the most profitable and cost-effective ways to earn cryptocurrency besides purchasing it. Ordinary users can save their energy and financial resources through cloud mining.
Users can purchase cloud mining contracts from the platform and experience the fun of mining. In cloud mining, it’s a win-win situation for all. Users are able to buy cloud mining contracts which in turn create funds for the actual miner who then shares his mining rewards with the users.
Gate.io cloud computing power products: The initial price of cloud mining contract package starts at $47
In order to meet the demands of users, Gate.io launched cloud mining products in the month of August 2021. The initial price for the cloud mining contract package starts at $47 dollars.
Gate.io cloud mining product currently supports only Bitcoin mining, and plans to launch Ethereum cloud mining product in the near future.
Gate.io has launched the sixth cloud mining product. You can log in to the official website of Gate.io, select “Finance" in the top menu bar, click on "Cloud Mining" and choose the product based on your needs.
It should be noted that the cost of purchasing a cloud computing power contract will be directly deducted from the user's spot account. Therefore, before purchasing a cloud mining contract, it is necessary to ensure that there is a sufficient amount of USDT in your account.
The detailed steps are as follows:
1.Select the product you want to buy, and click on the "Buy Now" button.
2.After checking the product details, click on the "Buy Now" button to purchase the product
3.Confirm that the order details are correct, and then click on the "Buy" button.
4.And that’s it. You have bought the cloud mining contract.
If you are a new user or there is not enough USDT in your account, you can first buy USDT via your Fiat money and then repeat the above steps.
Cloud mining is a form of remote mining where the big mining rigs are owned by miners and the computation power is then split into independent units which are then sold to ordinary users. This effectively solves the problem for the ordinary users who want to participate in mining but are not able to afford the cost associated with mining. Ordinary users do not need to purchase expensive equipment and have professional mining knowledge. When it comes to cloud mining, ordinary users don’t need to worry about electricity cost, hardware maintenance cost and local regulatory concerns. Users can purchase cloud mining contracts through the web or APP in a single click and earn profits at any time, anywhere.
Author: Gate.io Observer: Hannah.H
*This article only represents the views of observers and does not constitute any investment advice.
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