How would you even set up cloud mining?

[Grandeur]

I believe cloud mining is a simple as depositing crypto into the cloud mining site you like to invest and just waiting for profit. There are various mining plans available in cloud mining sites.

Yes, you are correct. Cloud mining pools from the mining depot into a mining pool like the cloud which is a representation of storage of the mined coins which has effect on the circulating supply

 

[kayode10]

I have never set up a mining cloud for cryptocurrency on my computer system. But I believe that you can see some videos that will put you on the right track on Youtube if you have time dedicated for them.

 

[Kaffyfolla]

In the most basic terms, you are using a computer (or computers) to solve cryptographic equations and record that data to a blockchain. Taking this a bit deeper, miners verify the hashes of unconfirmed blocks and receive a reward for every hash that is verified. The process is computationally intensive, requiring state-of-the-art hardware if you are planning on making much headway with mining. Mining, as it was back in the days of the gold rush, is not for the faint of heart

 

[Nomad]

I don't imagine to set up my own cloud mining operation, I do not have investment or knowledge to do this. However, I am planning to use a cloud mining platform. I think I will try my hands on genesis mining

 

[Sincerem]

Cloud mining doesn't need much to start up and maintain with a good device even your smart phones you can sign up to a cloud mining site and start earning.

 

[Busybee]

No please don't use cloud mining. Mining relies heavily on resources and you would be charged according to the resource you used for mining. The charges would be 10X higher than what you can actually mine with the resource you used. So, kindly steer away from this. Try to join a mining pool with your own resource. Contribute your resource to a credible mining pool to make a good profit.

 

[Setho]

The first thing is to purchase hash rate . You are then going to look for resources that are going to support it and then purchase your computers and look for a way in which you can be able to get power.

 

[Sincerem]

I think cloud mining involves investing into the site that does cloud mining and gain profits when profits are made in the sites just like how an investment broker operates.

 

[Planbizzle]

The process of setting up cloud mining is often as simple as choosing a service provider and buying a mining package. Following that, the service provider will walk you through the setup procedure, which often entails choosing the coins you wish to mine and setting up the mining program.