Home >
​Cloud Mining vs Buying - What should I know before cloud mining Bitcoin?

​Cloud Mining vs Buying - What should I know before cloud mining Bitcoin?

​Just go to the street to catch someone and ask him: "What are the advantages and disadvantages of Cloud Mining vs Buying Bitcoin?" It is no exaggeration to say that 90% of people do not understand these two concepts, let alone the connection between them. The particularity of cloud mining Bitcoin makes it not as easy to understand as general concepts of cloud mining vs buying. It usually takes a lot of time for people to popularize the core concepts and get a real understanding of a person.
People who often attend cloud mining and conferences around the world will have a feeling that no matter which city the blockchain summit is in, they will always encounter some familiar faces. Run a few more times and stay in the currency circle for a few years, and you will find that this circle is too small.

Before entering the circle, the investor had infinite illusions about this mysterious industry. As the saying goes, the currency circle is like an illusion. I remember that when I first began cloud mining vs buying, the few newcomers in the currency circle who were familiar with each other would know more or less that they were all people who had earned dozens of times the amount at the peak of cryptocurrency in 17 or 18 years. Although the current currency circle is no longer like the previous two years, an ICO can raise millions of funds. The capital mining pool is getting smaller and smaller, and it is less attractive to retail investors.
However, the reality is that after the peak of the cryptocurrency industry, it attracted a large number of project parties ready to move. What are the advantages and disadvantages of Cloud Mining vs Buying Bitcoin? It has become the norm for most projects to sit on the ground and start by smashing hundreds of thousands of offers to attract retail investors. There are very few projects that make money. Just as the Defi concept has become popular recently, countless Defi projects have caught fire. In the name of Defi, I hope I can become a pretty boy in the capital market.
The industry is not as passionate as before, but it can't resist the attraction of illusion to new leeks. I always meet some people who just entered the circle and ask "What project?" "Is there a contract group?" New Leek is full of curiosity about everything in this world, which is also the motivation for the project team to emerge. So today I would like to make a few suggestions before investing in cryptocurrency based on my own experience. This suggestion is only provided as a reference for my subjective opinions.

Develop strategies
Many people rushed into the circle and asked "what to buy? What are the advantages and disadvantages of Cloud Mining vs Buying Bitcoin?" Of course, when a novice opens the exchange and sees a mess of new coins rising wildly, the base currency is as stable as a mountain, and they will be caught asking people without a clue. Fortunately, I caught the media. I caught the project propaganda in the group, and a fresh leek was cut off.
Cloud mining vs buying, which one is better for miners? My advice for novices is to first develop your investment strategy. The first prerequisite for formulating a strategy is to understand the basic knowledge of existing currencies. After you have a certain self-understanding of these, you can do some strategic planning. Decide on the investment amount and investment strategy, it is best to set the time node of the investment.

Confirm the type of self-trader
The type of trader largely depends on the personality type of the investor. What are the advantages and disadvantages of Cloud Mining vs Buying Bitcoin? In my opinion, this is like the analysis of candlestick charts. The analysis of the candlestick chart is essentially an analysis of the psychological struggles of the long and short sides of the market. The following are three types of cryptocurrency investors:
Day trader
Such investors pay close attention to the market, take out their mobile phones to watch the market anytime, anywhere, and the air around them is filled with the smell of caffeine and adrenaline. Most of these traders are young people, and most of them are new leeks. A lot of other people's magical stories can suddenly become rich overnight.
Swing trader
Similar to disconnected traders, but with lower trading intensity and longer investment time. Usually, their investment time varies from a few days to a few weeks. Most traders around me are in this state.
Long-term investor
Long-term investors usually enter the market as early as seven years ago to hoard some bitcoins and hold them for a long time. They are usually not interested in investing in units of days, months, and weeks, and they don't have a cold to invest in stages. Investment in a project is usually carried out in units of years.
Cryptocurrency is a dangerous temptation. Therefore, before investing in cryptocurrency, you must first understand what type of investor you belong to avoid personality trends that lead to common mistakes in the investment process.

Cloud mining vs buying - Don't buy rubbish coins
One of the taboos of the currency circle is to buy it immediately without looking at someone who says which currency has risen. The correct approach is to only buy coins with potential value. The problem is that most of the cryptocurrencies are rubbish coins, and even the white paper may be created overnight to follow a hot spot.
There are as many as 1,500 active currencies in the cryptocurrency market this year, which does not include the 1,000 new cryptocurrencies that have entered the market. Most of these should be classified as "junk coins."
And how to judge whether a currency is valuable?
A currency with intrinsic value must have a clear market demand. With market demand, it can have a huge and supportive community. Where human needs lie is where the value lies. Valuable currencies must be able to attract financial support, and have a complete development team and market roadmap, and have sufficient ability to move forward.
How do ordinary people discover value currency?
The operation logic and value of the cryptocurrency of projects that can receive venture capital have always been reviewed by experts, and these review experts make a living by evaluating such projects. Therefore, we can find a great "research shortcut"-follow the venture capital company's purchase. Of course, this is only for high probability.

Cloud mining vs buying, which one is better for you? Do your research
The essence of the cryptocurrency market is a psychological game. Cloud mining vs buying, which one is better for you? Never enter the venue when others call for an order, you have to be the one to call for an order. As far as I know about the more profitable veteran traders around me, most of their profitable projects are based on relevant knowledge, pattern recognition, and other projects that they are optimistic about.
Started before the market started to discuss it. Therefore, doing your research like the issue of “Cloud mining vs buying” and forming your own opinions, can better contribute to the growth of the cryptocurrency market.