Why Cloud Miners Need to Understand This Market
In the early stages of cryptocurrency, individuals could mine using their personal computers. However, with technological advancements and increased competition in computational power, the situation has fundamentally changed. Today, traditional mining requires purchasing expensive specialized hardware, finding cheap electricity sources, and mastering complex technical knowledge to stay competitive. For most beginners, these barriers are almost insurmountable. Cloud mining emerged to open the door for participants who cannot afford equipment investments and technical complexities. This model not only lowers the entry barrier but also eliminates the hassle of hardware maintenance. However, caution is needed, as there are many fraudulent activities in this field that require careful screening.
Basic Knowledge: Mining is the core mechanism for verifying transactions on the blockchain network, ensuring network security, maintaining decentralization, and generating new coins.
How Cloud Mining Works
What is Cloud Mining
Cloud mining is a