Cloud Can be Created by Users or by Service Company

Cloud Can be Created by Users or by Service Company

Cloud mining is most recommended method for mining in cryptocurrency and has been in vast use for Bitcoin and some altcoins. The concept of cloud creation is quite old but new in crypto world. It was first experimented in Bitcoin mining where it gained popularity. After its success in mining of Bitcoin, the implementation of concept was extended to some popular altcoins and its success was observed. This concept was successful in winning trust of crypto users in short time but advantage of some system inspired scammers to find their self-benefits from successful system. Cloud system also raised controversy over operation of this system.

What is cloud system

Cloud is a mixing process in crypto world where some specifically named crypto coin units from acquired by different owners are mixed on one place from where they are transacted. The identity of each participating crypto coin owner is lost in the cloud and this helps to maintain anonymity of transaction made on behalf of crypto owner, making transaction more private and safe. Leave aside scam because this is an exception and uncommon occurrence. Scam is a probability the extent of which is uncertain. Cloud is not only a great way for beginners but also good for experience miners to get experience of hassle-free and risk-free mining.

Ways of cloud creation

Cloud creation or mixing is possible in two different ways. Several owners of some crypto coin can create their own pool and mix their coins. For instance, A few Bitcoin owners can unite to create their own cloud. This is good and safe way to Bitcoin cloud mining but less feasible because nobody would be ready to own the accountability of managing the bulk on behalf of different users. Cloud service is the best when it is operated by some reputed company because there will be low risk in that case and accountability will be taken by your service provide. The payment of some charge for services rendered would be worthful for this purpose.

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