What is Bitcoin cloud mining?

Cloud mining is a way to mine cryptocurrencies like Bitcoin and Ethereum without investing in expensive, energy-intensive computer hardware and software. This article will explain the need for Bitcoin cloud mining, how it differs from traditional mining, and more. • What is Traditional Cryptocurrency Mining? •

Is cloud mining risky?

Cloud mining is risky insofar that you are relying on someone else to mine cryptocurrency, without ever actually checking they own the hardware necessary to mine bitcoin, or whichever coin you choose. Lots of fraudulent cloud mining services claim to be mining bitcoin on your behalf yet just suck up your money instead.

How does cloud mining work?

Each participant earns a pro-rata share of the profits in proportion to the amount of hashing power rented. Cloud mining involves mining for cryptocurrencies by leasing or purchasing mining equipment from a third-party cloud provider, who is responsible for maintaining the equipment.

What is Ecos cloud mining?

Considered one of the top cloud mining providers, ECOS offers its clients cloud mining services for only one digital currency: Bitcoin, the world’s largest cryptocurrency in terms of market capitalization. Currently, the company is offering its services to over 90,000 users from across the entire world.