Crypto-Currency such as Bitcoin or other altcoins is a great investment right now and should be taken advantage of. Since moving into the new year of 2018 the crypto trend seems to only be getting stronger. In fact Crypto-currency is becoming so massive this past week alone I have seen many different exchanges having to temporarily suspend new user registrations and in some cases even shut down base markets such as BTC/LTC.
The latest exchange dealing with these issues is Cryptopia. They had to close their Litecoin and Dogecoin base markets because they were not properly equipped as their servers couldn't handle the traffic and/or properly scale which is a simple process if done correctly. As a result customers of course were outraged because their money is tied up in certain coins, coins that only trade on these base markets like BTC/LTC and at the same time weren't getting answers from the company. Cryptopia kept their bitcoin base market open but that does no good for a lot of the users in the Litecoin and doge base markets. Their are only a handful of currencies that trade in all three base markets. These are the types of issues exchanges are experiencing with the high volumes of new users coming to the market everyday. This is also why you should act fast and get in while you can on safer alternative such as cloud-mining.
Cloud-mining is a investment vehicle that won't fail due to high rapid growth. First let me try and explain what the mining process is, then move on to cloud-mining. The best way for me to explain mining is comparing to a automobile. Now imagine a car's engine, which is needed to keep a car moving and function. Well a Blockchain is needed to keep bitcoin running or any other coin. The blockchain acts as a secured public ledger stored online, keeping track of all transactions being made. When a user sends lets say, bitcoin from one wallet to another it gets stored in the blockchain forever, which becomes proof that the transaction was completed.There are Computers all over the world which run nodes, which process these mining transactions. They also communicate with all the other miners mining the same coin. Running a node allows every computer to communicate with each other, this way when new transactions come in, the node knows which miner recieved it. Now to solve these transactions they are constantly solving algorithmic equations know as cryptography. As the computer mines transactions, depending how much processor power they provide, find "blocks" which contain the transactions. In return for miners using their own resources (hardware, electricity) which are constantly running 24/7, the miner gets a reward for each block that is solved and stored. That is the gist of mining although I am sure their are some that can explain it more clear so if it is still confusing, I apologize.
Now on to the good stuff, let's talk about cloud-mining. This process is exactly as it sounds. If a user decides they want to start mining crypto but doesn't have the hardware or resources to do so, they can turn to companies that can mine for them. Companies like HashFlare provide all the hardware and equipment needed to mine as they have data-centers scattered across the world. All the user needs to do is purchase a contract which states how much dedicated hashing (mining) power you chose which is provided by the company and the length of time the contract will last.. Some of the different crypto coins you can choose from are Bitcoin, Monero, Ethereum, Litecoin, Dash, Zcash, BitcoinCash and so on. Before you make a purchase you can calculate which coin would be most profitable at current prices. Where the real money starts coming in once your contract starts and why now is the time to buy is because as the prices continue to rise so does your mined coins. You can keep the coins in your wallet or spend them however HashFlare pays out your earnings every 24 hours so it's up to you what you want to do with your money. Although being an investment you should hold your coins that are mined and let the value grow. It's kind of like a savings account but much better interest.
Another Cloud-mining company Genesis-mining is currently the largest platform available with over 1 million users. However they currently only have monero contracts available so we recommend HashFlare to buy your contract as the 2nd largest platform they currently have all contracts open. Another reason HashFlare would be good for new users is their minimum is much lower than Genesis.
To show n example, we bough a $30 bitcoin contract 1 year ago. The contract is a open-ended meaning it will only expire mining becomes to difficult to be profitable with our selected hash power of 0.2 T/H's. Of course we can add hash power to it to continue the process.
As you can see just in the last couple weeks we have made $11.00. In total since the contract started we have made $342. Let me remind you this was from an initial investment of just $30 about a year ago. That is profits of more than 1,000% which is incredible. Imagine if our initial investment was $1,000, our profits would be in the $30,000 range. Now most pf this profit is from the price movement of bitcoin. Now let's say the price stayed the same from when the contract was bought, we would still have decent profits.
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Crypto-currency is a very hot commodity right now with. Old and new coins prices rising everyday. For these reasons we say go check out the cloud-mining contracts and see which one fits your finances. If you can afford to buy one then we definitely recommend to do so. Bitcoin or BitcoinCash should be the most profitable contracts to purchase right now however the other coins will be profitable as well.