FAQ about crypto mining & cloud mining

How to make money with crypto mining and cloud mining?

In crypto mining, miners work to earn rewards by solving cryptographic computing tasks using specialized computers, such as ASICs (Application-Specific Integrated Circuits), to mine currencies like Bitcoin or Litecoin. Since these tasks are highly complex, powerful machines are necessary for successful mining. By participating in crypto mining, you can accumulate coins that can later be exchanged for money on crypto exchanges. The largest rewards typically come from solo mining, where miners have the chance to solve a task that results in receiving a "block reward."

What is cloud mining ?

What is cloud mining?
Cloud mining is a service that enables users and miners to participate in crypto mining without the need to purchase their own mining equipment. Through cloud mining, service providers offer their ASIC computing power for a fee. This allows you to mine cryptocurrencies of your choice in a mining pool you select, using the hash power you’ve rented for a specified period.

Do I have to sign up to start cloud mining and view your terms of mining ?

At cloudmining.solutions, there’s no formal sign-up process. You can access the entire website immediately, including our terms and conditions and pricing information. We believe in transparency, with nothing to hide.

It’s puzzling to us why other cloud mining providers require registration before potential customers can view prices or the terms of service.

Why cloudmining.solutions ?

Cloudmining.solutions is a service that enables you to mine cryptocurrency without the need to invest in your own mining hardware or IT infrastructure. Simply select your mining pool and the offer of your choisce, and cloudmining.solutions will supply the necessary ASIC computing power for your mining operations.

Do I have to make an initial investment ?

With cloudmining.solutions, there's no need to purchase expensive hardware or make a large upfront payment. There are no setup fees either. You only pay for what you’re guaranteed to receive, with no significant investments required. There are no long-term contracts that might leave you uncertain about whether you'll get what you paid for or if the company will still be around in a few months. You can start with a small investment or a short-term purchase of hashpower.

What is “normal” pool mining ?

In "regular" pool mining, cryptocurrency mining is done collectively with other miners. If one of the miners in the pool finds a block, the reward is distributed based on each miner’s contribution of mining power. There are various methods for calculating this distribution, such as "PPS," "PPLNS," and "PROP." The benefit of traditional PPS pool mining is that it provides miners with a steady income from their mining efforts. Instead of engaging in PPS/PPLNS/PROP mining with a cloud mining provider, you may also choose to buy crypto coins directly through a crypto exchange.

What is solo mining?

In solo mining, you use all of your available hash power to try and find a block on your own. With some luck, your miners will solve the complex computational task, earning the block reward. Currently, for Bitcoin, the block reward is 3.125 BTC. The downside of solo mining is that a reward is only received if your miner successfully finds a block. However, the advantage is that the reward can be quite substantial, often making the effort financially worthwhile.

What does "luck" mean in crypto mining ?

In crypto mining, particularly when mining solo, the term "luck" takes on a specific meaning. It refers to the statistical probability of the mining effort required to receive a reward for finding a block (the "block reward").

Many mining pools display your current "luck" to show your progress in attempting to find a block. The mining effort statistically needed to find a block is represented by a luck value of 100%. When you first start mining, your luck is at 0%. As you continue mining, this value gradually increases toward 100%. The closer you get to 100%, the more likely it becomes that you will successfully find a block.