Everyone knows that the crytocurrency mining needs a lot of electricity. So it is cloud mining that comes up as an alternative. You can think of it as a factory mining company. However, it is different from a entrustment type mining company. The entrusted type is a form in which I purchase the mining equipment and entrust management. But cloud mining does not have to provide a mining equipment. I can make mining as much as I have contracted at the facility(mining machine) that the company already made. You can also specify the cryptocurrency.\
The most important thing when choosing a cloud mining company is trust. If they run away, you can not complain. So you have to choose the credible company. The most popular cloud mining companies are Genesis Mining (https://www.genesis-mining.com/) and Hashflare (https://hashflare.io). At least until now, I have heard their service is working good.
When I started the cloud mining, the Genesis Mining Hash Power inventory was running out and I could not make a contract. So I decided to use Hashflare.
In order to do cloud mining, we have to register. You can register by clicking the top right button “register”. Just put it in and you can just follow it. Are you done? Let's proceed with the contract from now on.
The hashrate is like the power to buy cryptocurrency. We do not need to know how the engine of car work, right? Just buy it. But if you purchase a lot, you can get more. Right?
There are four types of hashrate. Depending on the currency type, the hash rate you need to purchase is different.
SHA-256 : BTC
Scrypt : DASH
ETHASH : ETH
EQUIHASH : ZEC
I signed a bit coin.
I have to the amount to buy. I am afraid that I may be taking the money for the first time. So I was only a small sum. I move the mouse to set 1TH/s and it costs 180 USD. I can pay with a bitcoin, but since it is the first time I do not have a bitcoin. Press the PROCEED button. OMG. I contracted 1TH/s for $220 on Jan. 2018. The price is down.
When you press the Select payment method button, a small window pops up. Press UP (Universe Pay) or C (connectum). I pressed C. Enter your credit card information.
But it is not done yet. Verification code is required. My bank sent a message immediately upon payment. You can see Hashflare_6593. 6593 This is the Verification number. Your payment will be completed once you enter it.
I made my first contract on January 21st. One month has passed. I wonder how long it has been mined. I will post the results of the cloud mining soon. It will be a great strength if you do vote. Thx.