For individuals, the threshold for cloud mining is already quite high. Which cloud mining is best? In the early days of blockchain, ordinary people could indeed use their home computers to participate in cloud mining, but as time went by, the cloud mining power is increasing, and cloud mining has become a highly specialized industry.
First of all, due to the high power consumption and noise of professional equipment, ordinary houses are no longer suitable for mining activities. Secondly, the large amount of electricity consumption also determines that many large cities are not developing the mining industry due to high electricity prices. Finally, the cloud mining sites’ selection of the mine, the design of the machine room, and the maintenance of the equipment all require technicians with professional knowledge and skills to complete. In this way, mining can be more efficient. Which cloud mining is best? So, do ordinary people really have nothing to do with mining? Not really. Many mines, in order to reduce their own costs and reduce one-time capital investment, will also give ordinary users the opportunity to participate.
Which cloud mining is best? Three common ways for users to participate in cloud mining. Currently, on the market, ordinary users participate in mining mainly through the following three methods:
Purchase Cloud mining
Cloud mining is one of the common and easiest ways to get started with mining. Which cloud mining is best? The cloud mining services provider breaks the mining farm's computing power into parts and sells them to individual users. Users can choose different cloud mining services and time periods. After payment, when the mining machine starts to be put on the shelves, the income can be received regularly. The advantage of cloud mining is mainly low user threshold, does not require much professional knowledge, and is easy to understand.
The disadvantages of cloud mining are also obvious. The cost-effectiveness of cloud mining is low, and the mining machine is owned by the platform. In general, there are few links in cloud mining products, and the model is simple. Novice users can understand it at a glance. The disadvantage is that it is expensive and cannot enjoy the value-added bonus of the mining machine.
The mode of joint mining provides users with a package of mining-related services including group purchase of mining machines, mining machines on and off shelves, custody, operation and maintenance, maintenance, migration, and access to mining pools. The rest is related to cloud computing power mining. Mine is the same, that is, waiting to receive coins.
Joint mining is almost as friendly to novice users as cloud computing power, but joint mining has three obvious advantages over cloud mining:
1\. The unit computing power cost is lower, and the price/performance ratio is relatively better;
2\. The user has his own mining machine. When the market is good, the mining machine itself can appreciate;
3\. In the joint mining model, the platform and the interests of customers are bound together, and the benefits of the platform are good when the customers are good. Therefore, the platform has the motivation to provide better services.
Generally speaking, the joint mining business does not charge any management fees until the user returns to the cost. After the return of the cost, the user’s revenue is divided into the platform. This model will allow the platform to help the customer return to the cost as soon as possible. Also, try to help users get higher profits. From this perspective, the professional decision-making of joint mining virtually helps users avoid various pits and obtain higher returns.
The biggest risk of joint mining is the same as that of cloud mining. It is mainly platform risk, so it needs to be carefully screened.
Purchase a mining machine to host the mine
Which cloud mining is best? The third way for ordinary users to participate in mining is to purchase mining machines to host the mine. Professional mining farms provide professional mining machine operation and maintenance services and cheap electricity fees for hosting users.
Which cloud mining is best? The user buys the mining machine by himself to look for the trusteeship of the mining farm. Relatively speaking, the cost is lower, but the user also puts forward higher requirements: buy the mining machine by himself, sign a contract with the mining farm, and may also involve the installation of the mining machine and the mining farm. Migration, etc., should always pay attention to the operating status of the mining machine, which requires users to have a rich mining experience. Because there are many links, there are also many large and small pits, such as mines that do not start at the agreed time, increase electricity prices for various reasons, use power outages, repair machines, etc. to misappropriate users mining machines for mining. This requires users to find trustworthy and reliable partners in every link. Once misfortune is in the pit, the user will fall into a passive position, and all previous efforts may not be worth the loss.
When users inspect the managed mines, there are too many links involved, requiring users to enter the circle, such as participating in offline activities, etc., to explore and judge by themselves. This is more difficult for users outside the circle.
The three modes mentioned above are mainly for ordinary users. For users with strong funds and professional capabilities, they can build their own mines, which are beyond the scope of this article.
In conclusion, there are three main ways for ordinary users to participate in mining: cloud mining, joint mining, and mine hosting. Each has its characteristics:
cloud mining has the lowest threshold and is the most user-friendly, but relatively speaking, the computing power cost is the highest, and it cannot enjoy the mining machine appreciation bonus.
Under normal circumstances, the comprehensive cost of the mine hosting is relatively low, and it can enjoy the value-added bonus of the mining machine; but this mode has many links and requires high experience requirements for mining participants. Reputable mines and other capabilities have the ability to identify and avoid risks in various links.
Joint mining takes into account the advantages of both cloud mining and mine hosting. Which cloud mining is best? It has a simple model, is user-friendly to novices, has low participation thresholds and low overall costs, and can also enjoy mining machine appreciation bonuses. In addition, under the joint mining model, participants are bound to the interests of the platform. Participants can enjoy the professional and refined decisions made by the platform, avoiding many pits invisibly and obtaining higher profits.