What are some advantages to cloud mining for cryptocurrency?

Top Answer : With cloud mining, you don’t buy the hardware. We import the hardware, we set up the mining, the farm, and we build out the software for the algorithm, which it will run on and the optimization on it.  Then we try to keep it as such that it doesn’t require a lot of manual intervention. You can just close down this facility and you don’t have to visit it. Maybe once a month you have to go there but you can see everything online. So all the machines that are running you just see at one place as well as how much revenue you’re making.  Where electricity costs are low, then that would be the place for you. Because in India there are union territories where the electricity bills are the lowest where you can mine at low costs. The market was booming in 2017 through to 2019 and it’s again on the uptrend right now. With us we could get our entire money back in eight months and then make some money on top of that. So it was kind of a best deal. It was better than keeping the money in your bank as the interest isn’t as high in banks. Right now people are like jumping into it. The only hurdle is regulatory uncertainty in India. It’s a gray area where it’s neither legal nor illegal.

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With cloud mining, you don’t buy the hardware. We import the hardware, we set up the mining, the farm, and we build out the software for the algorithm, which it will run on and the optimization on it.  Then we try to keep it as such that it doesn’t require a lot of manual intervention. You can just close down this facility and you don’t have to visit it. Maybe once a month you have to go there but you can see everything online. So all the machines that are running you just see at one place as well as how much revenue you’re making.  Where electricity costs are low, then that would be the place for you. Because in India there are union territories where the electricity bills are the lowest where you can mine at low costs. The market was booming in 2017 through to 2019 and it’s again on the uptrend right now. With us we could get our entire money back in eight months and then make some money on top of that. So it was kind of a best deal. It was better than keeping the money in your bank as the interest isn’t as high in banks. Right now people are like jumping into it. The only hurdle is regulatory uncertainty in India. It’s a gray area where it’s neither legal nor illegal.
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