Crypto Academy Week 5 Homework Post for [@besticofinder]

I am going to submit my homework task week5 @besticofinder.

---

---

What is Cloud Mining?

Source
Cloud mining is a process in which consumers participate and a quantity of "hash power" is purchased. Profits are distributed equally among consumers. Throughout the process, third parties are given the responsibility of hosting, through which access to prizes is provided. Users are allowed to mine crypto assets without the use of hardware. Consumers do not have to buy expensive equipment, they benefit from cloud mining.

---

---

Best Cloud Mining Platforms

There are many cloud mining websites out there that provide a comprehensive list of features that protect crypto assets.

IQ Mining is offering three types of packages involving customers in mining from which about fifty thousand customers are benefiting. These packages are available for rent to the customers.

• Bronze package
• Silver package
• Gold package
  IQ Mining has been providing a free platform to its customers since 2016. It allows you to mine various cryptocurrencies such as BTC, ETH, LTC, etc.

Genesis Mining began operations in 2013. The company has established itself as a large company, offering smart deals and easy investment. In terms of its hash power, it is the largest power provider and has 2 million customers under its control. The company allows Bitcoin and Altcoin to mine both. You can mine any coin at a time.

Crypto Universe started in 2018. This organization provides a mining facility to the customers with a profitable plan. Users can mine two types of contracts on this platform. Cloud Mining and BTC Mining,
This organization allows its customers to buy and sell goods. Assets are returned at the end of contracts. If the price of the goods does not increase, the consumer gets an extra share of the profit. It also provides the user with the facility of a crypto affiliate program from which the user can earn extra profit.

---

---

Cloud Mining Advantages

• No need to buy extra equipment for mining.
• Noice and heat generator equipment are not required.
• No installation and setup fees.
• Setup can be run on any location.
• There is no risk of fire and other issues arising from self-burning.

Cloud Mining Disadvantages

Your hash rate cannot be indicated in the mining pool of your choice.
The organization can run away from your assets at any time.

• The organization may close its business.
• Cannot be sold due to non-availability of goods.
• You may encounter difficulties during cloud mining and you may have to cancel the contract if you are not making a profit.

---

---

Conclusion

Complete your homework before getting a cloud mining service You may be at risk so you must have completed your homework before investing.

---

---

Special Thanks

@besticofinder

@steemcurator02