Advantages and Dangers of Cloud Mining, Be Careful!

Cloud mining is a mining activity that uses shared power from data centers. This activity or method is easier when compared to the process of mining rigs containing sophisticated hardware.

When using the cloud mining method, you will rent Hash power available from a provider or data center.

To do this method and get crypto, you still have to have hardware in the form of a qualified computer or laptop.

In addition, you must also have an address wallet to accommodate the advantages available from this sophisticated mining process.

However, this mining method is not always easy and profitable. This time, VCGamers will discuss the advantages and disadvantages that you might find when contributing to cloud mining.

Also Read: Easy Crypto Mining Tricks For Beginners, Do This!

Cloud Mining Advantages

Cheaper Hardware Capital

You can do a mining method called cloud mining more with a personal computer or laptop.

With a personal computer or laptop, you can get cryptocurrency and mining through the available providers.

When compared with mining rigs Usually, the capital you have to spend is relatively very high, up to hundreds of millions of rupiah.

Also Read: How to Play Bombcrypto Game, Play To Earn!

More Conducive

Mining machines usually give a sound that is quite noisy so that a room can become not conducive.

With this method, mining can be more secure because you will be using a personal computer or laptop.

Not only that, all mining processes will also be controlled remotely, namely with central data so you can mine.

Also Read: How To Become A Bitcoin Miner For Beginners

Lower Cloud Mining Electricity Costs

Regular mining requires a lot of electricity so you have to pay quite a high electricity bill.

The high electricity bill exists because the normal mining process requires the mining rig to continue running.

With the cloud mining method, you can save on electricity costs because you only need one personal computer or laptop.

Here are some of the benefits that you can get by using this method.

However, there are also some dangers and losses if you choose the cloud mining method as a crypto asset mining method.

Also Read: How to Make Crypto Wallet Easily

Dangers of Cloud Mining

Fraud Occurs Often

When you use this method, you should always be careful because there are lots of them fraud that happened.

A website that provides this sophisticated mining service must be a trusted website, not a random website.

You can use websites trustpilot to see other people's reviews about websites that provide mining rental services.

As an example, CryptoTab has quite negative reviews, with many users complaining that their earnings withdrawals are blocked.

Low Cloud Mining Profits

The profit from this method is certainly lower and less than the mining process from private mining rigs.

Some of the profits will be shared with the provider, so the profit you will get is relatively small.

This is also because you only use a personal computer or laptop, so the mining power is also not as big as an ordinary mining rig.

Also Read: What is Dusting Attack? Here's the Full Explanation!

Too Dependent on Bitcoin Price

The contracts available with the provider will also usually suddenly become useless due to the provider's terms.

This often happens because Bitcoin prices fall, resulting in losses.

Therefore, you should pay attention and do research first before using free and paid mining providers.

Thus the discussion about cloud mining.

VCGamers has released a crypto asset under the name $VCG Token which operates on the Ethereum network (ERC 20) and Binance Smart Chain (BEP 20).

$VCG Tokens has been officially registered at Bappebti or the Commodity Futures Trading Supervisory Agency and the Indonesian Ministry of Trade as crypto assets traded on the physical crypto asset market.

Currently, $VCG Token has been listed on various CEXs or Centralized Exchanges and DEXs or Decentralized Exchanges namely Pancakeswap, Uniswap, BitMart and Indodax.

Not only that, $VCG Token is the official currency in the first metaverse in Indonesia, namely RansVerse with the collaboration of VCGamers, RANS Entertainment, Shinta VR, and UpBanx.

Follow along Update $VCG Token only in VC News.