Cloud mining is a process of cryptocurrency mining utilizing a remote data center with shared processing power. Instead of owning and managing mining hardware, users lease resources from a third-party provider. This allows anyone to participate in crypto mining without dealing with the technical and energy-consuming aspects.
Cloud mining allows individuals to mine cryptocurrencies like Bitcoin without owning physical hardware. You rent computing power from a service provider and receive a share of the mined coins.
It can be, depending on the contract, crypto market price, and the legitimacy of the provider. Always research before investing.
You register with a cloud mining service, purchase a plan, and monitor your mining income through their dashboard.
Yes, Bitcoin is one of the most common cryptocurrencies mined via cloud mining platforms.
Cloud mining is legal in many countries, but regulations vary. Always check your local laws before investing.