Avoiding the hustle for mining Bitcoin cash with cloud mining
Cryptocurrency mining is one of the most significant investments in the world today. Bitcoin was the first cryptocurrency to be introduced on the market today. There are a lot more cryptos doing better but not has managed to get to the level of bitcoin. If you have been dealing in BCH, then you know that getting the best out of it is entirely possible and easy. However, if you want to avoid the hustle of managing your hardware and just sitting back and letting things be done on your behalf, cloud mining will be the best choice for you.
Cloud mining is quite easy, all you have to do is use a shared computing power run from remote data centers which simplify the whole process. You no longer need to purchase energy consuming mining hardware. Theoretically, to mine cloud-based BCH all you need is to buy a contract and a computer of course, for communication purposes. You can also go ahead and acquire a local bitcoin cash wallet though it is optional.
About bitcoin cash and its profitability
Bitcoin cash, BCH is a spin-off fork of bitcoin. The coin seems to have the biggest block with a brighter future looming, as of today BCH has a market cap of close to 6 Billion USD. The possibility of cryptocurrencies being used in real life other than online transactions only has become clear, and bitcoin cash has taken the lead.
When it comes to mining any coin, it is essential to calculate the profitability of your investment, something that not many beginners may be aware of. In this case getting to know why BCH is the key to succeeding. With the vast number of altcoins today, it is easy to get into one that will not give you the best service. There is a significant investment required for one to start mining beginning with the hardware necessary for the exercise. The profitability of mining BCH is quite ok compared to bitcoin. BTC has a block size limit of 8MB providing more transaction fees for miners to collect. Apart from this, the mining difficulty for BCH is a bit low. Currently, the profit for mining THash/s ( a trillion hashes per second) for BCH is $1.3526 per day.
The reason why many people had continued to mine with BTC despite loses in the past is that of the trust the coin has created so far. Many have believed in it and therefore makes it an easy target for others.
Bitcoin cash cloud mining guide
Cloud mining is the easiest way to earn from cryptocurrency mining.it does not take your energy nor your time. All you need is a tool for communication and a wallet for connecting your earned profits. To start mining, you will have to understand how much you need to invest in your rig. Even though cloud mining is effortless, the investment required is something you will have to consider and the possible profits. It is not a guarantee that you will get returns in crypto mining, so you need to be aware of the risks.
There have been a lot of scams on cloud mining for bitcoin. This means you will have to be careful with the service you choose. You will not be able to control the physical hardware for mining, and the profits may be a bit lower. Most recommended and popular cloud mining services have flare and genesis mining.
Just like the other famous currency, BCH offers several options in mining contracts. There are contracts for one year, two years and the bitcoin cash S9 lifetime contract.