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​The types of cloud mining for cryptocurrency: Classified according to these characteristics

​The types of cloud mining for cryptocurrency: Classified according to these characteristics

​How many types of cryptocurrencies are known and how many are there? According to incomplete statistics, there may be more than 10,000! These cryptocurrencies can be obtained through cloud mining for cryptocurrency from cloud services providers such as OXBTC. However, investors should remember that not all cryptocurrencies have investment value! How much do you know about the types of cryptocurrencies and cloud mining for cryptocurrency? For some cryptocurrencies, it is recommended to observe before deciding whether to sell!

Many miners in the currency circle often divide various types of cryptocurrencies into these four types: mainstream coins, altcoins, air coins, and MLM coins.

1\. Cloud mining for cryptocurrency - Mainstream currency

Cryptocurrencies recognized by the mainstream of the currency circle are generally strictly based on blockchain technology, and have obtained a wide range of market consensus, and have practical applications in the market, and can even obtain the institutional capital allocation. There are only a handful of current mainstream currencies: such as Bitcoin BTC, Ethereum ETH, USDT, and so on.

2\. Cloud mining for cryptocurrency - Altcoins

Altcoins sound derogatory, but they are neutral here, just different from the mainstream currency. Altcoins are developed by real project teams based on blockchain technology in accordance with the white paper plan, and there are active community organizations. They are generally issued in the form of Ethereum smart contracts, and their tokens can be in the cryptocurrency Normal transactions on the trading platform, such as EOS, etc.

3\. Cloud mining for cryptocurrency - Air coin

There are white papers based on blockchain projects, and tokens are issued in the form of Ethereum smart contracts, but in fact, there is no real technical team that develops and maintains in accordance with the white paper, only for the purpose of issuing coins. This type of project is not stable, and it may even lead to capital loss if it is rushed.

In addition to the above three categories, there is another category that is more similar to a Ponzi scheme. It has no logic and no white paper. It is usually rewarded by pulling heads to send currency, etc., and is usually issued by itself and builds a platform to conduct transactions. Some tokens even completely plagiarized the open-source code of others and did not use the open-source code to build the program. When encountering this type of cryptocurrency, it is best to stay away and do not participate in cloud mining for cryptocurrency.

What are the characteristics of reliable cryptocurrencies and cloud mining for cryptocurrency? Let's take Bitcoin as an example.

In terms of issuance, it does not rely on specific currency institutions for issuance. It is a decentralized issuance method. In terms of trading methods, it is a spontaneously formed transaction in the market. After the scale is formed, a third party will gradually establish an exchange to complete the transaction.

In terms of implementation, it is an open-source program itself, and the parameters and methods of its total limit are displayed in the open-source code.

Since the beginning of this year, the world's major cryptocurrencies have risen close to 70%, while gold's rise has only been 20%. The strong rise not only outperformed gold but also surpassed the global stock market, bond market, and commodity markets. How much do you know about the types of cryptocurrencies? The best-performing cryptocurrency maybe Ethereum, which has risen by 169.4% this year, and Bitcoin is 49.48%.

The main reason for the rise of cryptocurrencies is DeFi, the so-called decentralized finance. On the other hand, due to the epidemic, the introduction of a huge stimulus may stimulate inflation and weaken the U.S. dollar.

How much do you know about the types of cloud mining for cryptocurrency? In recent years, there has been a collective outbreak of cryptocurrency. Many DeFi tokens have performed well, and investment is risky. Be cautious when entering the market. Investors are advised to pay attention to controlling risks.