Cryptocurrency Cloud mining versus Personal Rig-pool Mining Review
Rapidly the use of cryptocurrency has continued to gain traction around the globe. The cryptocurrency was introduced into the world financial market early 2009 as a secure means for online transactions, despite its refusal by several government financial institutions around the world, crypto-currency has continued to grow from strength to strength with more online retailer appreciating its services.
Late in Jan 2018 crypto-currency suffered a huge backlash due to an outright ban of its service in cities and nations like China amidst many others but as of the time of writing this article crypto-currency had been observed to be gaining its fit after the huge shock.
Before the close of 2017, the fame of crypto-currency grew tremendously with its most popular note called “BITCOIN” grooming more crypto enthusiasts into the game. Now haven been in the crypto mining field for some time, I have decided to share some very useful thought with you, especially for you planning to plunge into the crypto mining field with less understanding.
There are several ways to own any crypto note you wish to have, the most common of them all is crypto-mining. This is so because anyone with an idle 4th generation computer or an Android device with more or less knowledge on crypto-mining can simply plunge into mining with readily available mining software like Minergate and several others. But the profitability of crypto-mining is what we shall be looking at as you get set to join other crypto-mining enthusiasts, it is necessary you read this now.
Crypto-mining exist in two forms:
- Cloud mining or
- Personal rig-pool mining.
What do we mean when we say cloud mining?
Cloud mining in its usual sense is conceived to be a less complicated/ tedious method of mining crypto notes. Like the name implies its a mining system that involves the use of a remote datacenter with shared hashing power for a period.
This type of mining system affords its users the flexibility of not being involved in the hardware maintenance for mining. A user of such service is only requested to register and purchase hashing power from vendors of cloud mining services.
How profitable is cloud mining?
Outsourcing from other crypto-mining experts on the profitability of cloud mining. I gather that, though cloud mining is a more convenient means of mining crypto-currency – since its users do not have to bother themselves with the cost running a mining rig, such as electricity bills, internet gigs, and other essential mining hardware.
Nevertheless, the cost of purchasing a mining contract could be comparably high and returns very low with some level risk that comes with online investment. So in my final verdict, it is advisable not to invest money you can’t afford to lose.
Check out this cloud mining company trusted by many;
What is personal rig mining?
On the contrary personal rig mining is a direct opposite of cloud mining, here users bear full responsibility for rig maintenance and other necessities. Anyone with an idle 3rd or 4th generation computer can easily get involved in this kind of mining system.
For those who can’t go through the rigorous hurdles of setting up a pool, mining can make use of the readily made GUI mining software like minergate, eazyminer(not trusted), etc.
How profitable is personal rig mining compare to cloud mining
Comparably personal rig mining could be more profitable to cloud mining depending on your mining hardware, hash rate, power consumption, pool fees, block difficulty, and time taken for your pool to solve a block as well as internet facilities.
Before plunging into personal rig mining it is very necessary for you to consider the cost of power consumption in your country and after your mining hardware. Obviously crypto-mining is not going to make you rich as fast as you thought, considering the cost of getting mining hardware but you sure going to make some decent coffee cash you can spend on a picnic at the sunset beach Oahu Hawaii.
Some mining pool with lesser pool fee you should consider;
MineXmrpool.com 1% monero
Xmrpool.net 0.5% monero
Nanopool 1% ethereum
MiningpoolHub 0.9 ethereum
Luckpool 0.5% zecash
MiningpoolHub 1% Zecash
Click here to learn how to start mining with any pool listed above
How can I get the best out cryptocurrency mining?
Like I earlier said profitability in crypto-mining will solely depend on your mining hash power and the choice of crypto note you choose to mine, build a rig with high hash power (say 5kh –100kh on smaller cryptonote with the appreciable exchange rate). As it is more preferable to mine any crypto note at their juvenile stage and lastly joining a pool with lesser fees should be considered if you ever wish to get lucky with crypto-mining.
To get an estimation on your possible earnings click here for the best crypto-mining profitability calculator.
My Final verdict
We strongly advise against investing money we can’t afford to lose on cryptocurrency. Neither was this article meant to promote any misguided investment plan; we recommend you to carry out satisfactory research on cryptocurrency before plunging in. we only hope we were able to satisfy a quarter of your research on cryptocurrency, please share this article on your social page.