If you want to avoid the hassle of buying and setting up your own Bitcoin miningand other Cryptocurrency viz. zcash mining hardware, then there is another alternative for that. You can use the concept of cloud mining to mine Bitcoins.
Cloud mining is a shared processing power which is controlled by remote data centers. You need your computer and maybe some sort of a Bitcoin wallet for your Cryptocurrency transaction.
Advantages of cloud mining for dash mining:
• No trouble of setting up mining hardware and maintaining it.
• Having not set up mining hardware you save lots of money, energy and time.
• In case your mining loses profit then you do not have to think about the useless hardware at your home.
• No need to be fooled and harassed by hardware mining sellers.
Disadvantages of cloud mining for Bitcoin mining:
• There might be a risk of fraudulent in cloud mining.
• The mining operations carried out in cloud mining is not going to be all transparent to the user.
• Since the operators of the cloud mining will keep aside a part of the profit for their service, it will mean that you will have lesser profit on your own.
• You will have less control over the mining operation and that won’t be very flexible.
Different kinds of cloud mining:
1. Hosted mining: Here you can lease a Bitcoin mining hardware which is hosted by the service provider.
2. Virtually hosted mining: Here you can create a virtual private server and create your own mining software in it for cloud mining.
3. Leased hashing power: Here you can lease a particular amount of hashing power without even having your own computer. This method of cloud mining is mostly used in the Cryptocurrency world.